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The C5 resin market share is expected to increase by USD 1.18 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.76%.
This C5 resin market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers C5 resin market segmentation by application (paintings and coatings, adhesives and sealants, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The C5 resin market report also offers information on several market vendors, including Arakawa Chemical Industries Co. Ltd., DuPont de Nemours Inc., Eastman Chemical Co., Exxon Mobil Corp., Henan Anglxxon Chemical Products Co. Ltd., Kolon Industries Inc., Lesco Chemical Ltd., Neville Chemical Co., Puyang Changyu Petroleum Resins Co. Ltd., Puyang Tiancheng Chemical Co. Ltd., Qingdao Bater Chemical Co. Ltd., Qingdao Higree Chemical Co. Ltd., Qingdao Reehua Yuanhai Biotech Co. Ltd., Ruisen Petroleum Resin Co. Ltd., Seacon Corp., Shanghai Jinsen Hydrocarbon Resins Co. Ltd., Sojitz Corp., TotalEnergies SE, Zeon Corp., and Zibo Luhua Hongjin New Material Group Co. Ltd. among others.
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The increase in demand from the building and construction industry is notably driving the C5 resin market growth, although factors such as stringent and unproductive regulatory policies may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the C5 resin industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key C5 Resin Market Driver
One of the key factors driving the global C5 resin market growth is the increase in demand from the building and construction industry. In the construction industry, C5 resins are primarily used in paints, adhesives, and sealants. In paints, C5 resins enhance the glossiness of surfaces and provide very high resistance to acid and alkali substances. These resins are also used in asphalt modifiers, which are used mainly in the production of colored surfaces. The increasing number of residential and commercial building projects and the rising number of infrastructure projects globally are expected to increase the sales of C5 resin during the forecast period. The high growth rate of the construction industry will lead to high demand for adhesives and sealants and paints and coatings, which will ultimately increase the demand for C5 resin during the forecast period.
Key C5 Resin Market Trend
High demand from the automotive industry is one of the key C5 resin market trends that is expected to impact the industry positively in the forecast period. This is attributed to the increase in per capita income, improvements in road infrastructure, and the increase in per capita vehicle ownership. As cities are at the center of economic development, increasing economic development has led to the growth of major cities and rapid urbanization. In most of the cities in developing economies, governments are unable to meet the public transport needs of the growing population. Furthermore, the inability of the railways sector to provide last-mile connectivity and the growing popularity of the e-commerce industry has also led to the rise in sales of heavy commercial vehicles for logistics in emerging economies. Hence, such factors will further support the growth of the global C5 resin market in the coming years.
Key C5 Resin Market Challenge
One of the key challenges to the global C5 resin market growth is the stringent and unproductive regulatory policies. Products that fail to meet the legal or regulatory requirements are not allowed into certain countries, like those in western Europe. In the US, the Frank R. Lautenberg Chemical Safety for the 21st Century Act was passed in 2016, which replaced the Toxic Substances Control Act of 1976, and is the country's new chemicals management legislation. In addition, by recent amendments, it has been made mandatory for the US Environmental Protection Agency (EPA) to evaluate the existing chemicals with enforceable and clear deadlines. In Europe, the European Union passed Directive 2008/50/EC, which lays down the measures for ambient air quality and cleaner air across Europe. The polluted air can destroy the C5 resin. Thus, such stringent regulations and policies that promote sustainability and a pollution-free environment can hinder the market growth during the forecast period.
This C5 resin market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global C5 resin market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the C5 resin market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the C5 resin market encompasses successful business strategies deployed by the key vendors. The C5 resin market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The C5 resin market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the C5 resin market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for C5 resin in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The significant increase in the demand for C5 resin from the automotive and building and construction industries will facilitate the C5 resin market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in the region is expected to hamper the growth of the regional C5 resin market. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, imposed a partial or full lockdown due to the pandemic in 2020. Owing to these lockdowns and stringent social distancing norms, production at manufacturing industries in APAC came to a halt temporarily. Thus, the growth of the C5 resin market in the region is expected to be negatively affected during the forecast period.
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The C5 resin market share growth by the paintings and coatings segment will be significant during the forecast period. The demand for C5 resin from the paints and coatings segment is expected to witness high growth in the forecast years owing to the flourishing global building and construction industry.
This report provides an accurate prediction of the contribution of all the segments to the growth of the C5 resin market size and actionable market insights on post COVID-19 impact on each segment.
C5 Resin Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.76% |
Market growth 2022-2026 |
$ 1.18 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.96 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key consumer countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Arakawa Chemical Industries Co. Ltd., DuPont de Nemours Inc., Eastman Chemical Co., Exxon Mobil Corp., Henan Anglxxon Chemical Products Co. Ltd., Kolon Industries Inc., Lesco Chemical Ltd., Neville Chemical Co., Puyang Changyu Petroleum Resins Co. Ltd., Puyang Tiancheng Chemical Co. Ltd., Qingdao Bater Chemical Co. Ltd., Qingdao Higree Chemical Co. Ltd., Qingdao Reehua Yuanhai Biotech Co. Ltd., Ruisen Petroleum Resin Co. Ltd., Seacon Corp., Shanghai Jinsen Hydrocarbon Resins Co. Ltd., Sojitz Corp., TotalEnergies SE, Zeon Corp., and Zibo Luhua Hongjin New Material Group Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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