Global Hydrogenation Petroleum Resin Market 2025 – 2034

Reports Description

As per the Hydrogenation Petroleum Resin Market conducted by the CMI Team, the global Hydrogenation Petroleum Resin Market is expected to record a CAGR of 5.24% from 2025 to 2034. In 2025, the market size is projected to reach a valuation of USD 1.81 Billion. By 2034, the valuation is anticipated to reach USD 2.86 Billion.

Overview

The Hydrogenation Petroleum Resin Market is a specialized area of the chemical market, which presents it with a wide variety of different applications, including adhesives, coatings, inks, and rubber compounding. A hydrogenated resin is derived from petroleum-based feedstocks that have then been hydrogenated. Hydrogenation of the petroleum-based feedstocks improves color, improves thermal stability, and reduces undesirable odour properties. These enhanced characteristics improve their suitability for hygienic products, food packaging, and high-performance applications. With the growing concern for environmentally progressive and low VOC use in industrial and consumer applications, the Hydrogenated Resins offer great compatibility with many polymers like EVA, SIS, and SEBS.

Other end use applications include automotive, construction and packaging where a well formulated hydrogenated resin can produce excellent adhesives with good durability and weather resistance. In addition, innovation in hydrogenation technology is enabling producers to develop Hydrogenated Resins with consistency and quality and performance improvements through sustainable product development and innovation. This will drive further development of Hydrogenated Resins and broad derivatives expanding exponentially through various end-use markets where Hydrogenated Resins will become the default used materials to meet environmental regulation requirements.

Key Trends & Drivers                                                                                                  

The Hydrogenation Petroleum Resin Market Trends present significant growth opportunities due to several factors:

• Growth in the Adhesives and Sealants Industry: Hydrogenated petroleum resins are generally used in the adhesives and sealants owing to their good tackifying properties along with their ability to be used with the elastomers such as SIS and SEBS. The demand for adhesives & sealants was estimated to be around 5 million tonnes in 2023. The usage of adhesives is steadily growing in the packaging, woodworking, and automotive assembly sectors, contributing to the demand for hydrogenated petroleum resins. In some cases, hydrogenated petroleum resins are preferred due to their color stability and lack of odour. Color stability is critical for hygiene products as well as food-grade adhesives. The good adhesion and compatibility properties of hydrogenated petroleum resins have attracted customers looking to find effective adhesive systems.

• Growth in the Automotive and Tire Industry: Hydrogenated petroleum resins are relied upon for tire manufacturing and coatings in automotive production and can also be found in many different epoxies and sealants. As per the report by the National Investment Promotion and Facilitation Agency the global automobile industry was valued at USD 1.8 trillion in 2023 and is anticipated to grow at a CAGR of 2.3% in the coming 5 years. Hydrogenated petroleum resins have a high degree of adhesion properties as well as high heat resistance and weathering stability. Automotive production continues to rise, especially in emerging markets, which leads to the need of hydrogenated petroleum resins that are manufactured from the highest quality of raw petrochemical feedstocks. The rise of EVs also contributes to an increase in demand for hydrogenated petroleum resins, because lighter materials and specialized coatings needed to aid aerospace design require an innovative adhesive system for assembly.

• Increase in Demand for Hygiene Products: General hygiene and personal care products are made with adhesives with low odour and safe contact properties. Hygiene products, such as diapers and sanitary products, often require low odour and low contact properties of the adhesive to retain their hygiene functions. The finding is based on the consistent increased use of hygiene products related to growing awareness and hygiene-related products in developing and well-developed areas of the globe. Accordingly, there has been a significant increase in the use of hydrogenated petroleum resins as a high purity and volatile free product. Manufacturers of hygiene adhesives are slowly switching to hydrogenated resins to ensure that the consumer can adhere to the strict hygiene standards dictated by high to low grade hygiene products.

• Increase in Low-VOC and Eco-Products: The environmental regulations across the globe continue to require many industries to switch to low-VOC and eco-friendly materials. The number of low-odour and volatile properties of hydrogenated petroleum resins gives some reassurance in terms of being environmentally friendly. These parameters allow us to consider this parameter in developing adhesives and coatings with low odour and stable properties in sensitive applications. With increased conscious awareness of sustainability by consumers, manufacturers are being held to increasingly greener materials. Resins with low VOC emissions are critical in automotive coatings, some construction materials, and packaging materials.

Significant Threats

The Hydrogenation Petroleum Resin Market has several major threats that may hinder growth and profitability now and in the future, including:

• Strict Environmental Regulations: Hydrogenated petroleum resins are low in VOCs, but they are still manufactured from non-renewable fossil resources, which raises some environmental concerns. Stringent regulations are being enacted globally to limit carbon emissions and support bio-based alternatives to petroleum-based materials, which could hinder production and use of resins. In order to comply with the regulations, production with cleaner technology, waste management, or a change in process may require costly changes, thus creating financial pressure for the manufacturers. Additionally, as there is an increasing trend toward a circular economy along with the sustainable sourcing practices by many industries, this will also threaten the hydrogenated petroleum resins as industries seek bio-based products rather than petroleum-derived products.

• Availability of Substitutes: Numerous alternative resins, including but not limited to terpene resins, rosin esters, and bio-based resins, represent a significant threat to hydrogenated petroleum resins. Alternative resins are chosen more so than the hydrogenated petroleum resins in instances where renewable sources or special characteristics are required. With increased environmental awareness and increased use of sustainable materials, numerous industries will turn to alternative resins instead of hydrogenated petroleum resins, particularly in the hygiene and packaging industries. Likewise, with the advancement of technology, the bio-based resins are becoming more efficient and cheaper than hydrogenated petroleum resins, intensifying competition. These circumstances may impact demand for hydrogenated petroleum resins and eventually decrease demand in certain regions.

Opportunities

• Growing Demand in Emerging Economies: Rapid industrialization and urbanization in emerging markets, particularly in Asia-Pacific, Africa, and Latin America, is creating huge opportunities for hydrogenated petroleum resins, especially as these developing countries are growing in construction, automotive, packaging, and hygiene sectors. Consumers with increasing disposable incomes, as well as growing e-commerce markets, are demanding more packaging options, further increasing the number of adhesives that will be used. In most cases, favorable government policies are also increasing the demand for infrastructure and development of manufacturing, which also requires resin for the adhesive applications.

• Development of Bio-Based Alternatives: Although bio-based resins are generally considered replacements, development of bio-based resins also provides an opportunity for hydrogenated petroleum resin manufacturers. Companies that explore or invest in hybrid and partially bio-based hydrogenated resins can address the growing sustainability demand without sacrificing performance. Benefits of providing renewable feedstock options with newly developed hydrogenated polymers can help reduce the manufacturing carbon footprint and meet regulatory compliance, and thus create an entry point to new market segments. Furthermore, these developments could enhance a company’s position and differentiation in the market and competitors seeking to promote environmental stewardship.

Category Wise Insights

By Type

• Hydrogenated C9 Petroleum Resin: Hydrogenated C9 petroleum resin is made from C9 feedstock based on aromatic monomers that undergo hydrogenation. Hydrogenation gives it better color stability, better odour and thermal stability. Hydrogenated C9 is commonly used in a variety of coatings, inks, and adhesives when excellent tackifying properties, good compatibility with other resins, and superior thermal resistance are required. For exterior applications where the temperature is a consideration, the improved weather resistance makes hydrogenated C9 ideal as an automotive coating or a protective finish. Hydrogenation is effective in heat-sensitive or light-coloured formulations since it promotes long-lasting durability.

• Hydrogenated C5 Petroleum Resin: Hydrogenated C5 petroleum resin is made from C5 feedstock based on aliphatic monomers. Hydrogenated C5 is used primarily in adhesives, sealants, and rubber compounding applications. It has good adhesion, clarity, and thermal stability, making it a common choice for hot-melt adhesives used in packaging, hygiene and woodworking. Hydrogenation means less impurities and colour enhancements, which makes the hydrogenated C5 more suitable for applications involving hygiene and food packaging. Hydrogenated C5’s compatibility with polymers such as SIS, SEBS, and EVA, offers many options regarding advanced adhesive formulations, where bio-based formulations and/or new glue application technologies are a driving force.

• Hydrogenated DCPD Petroleum Resin: Hydrogenated DCPD (Dicyclopentadiene) petroleum resin exhibits rapid heat resistance, a high softening point, and outstanding weatherability, making it appropriate for coatings, inks, and adhesives that require high endurance in tough environmental conditions. Hydrogenation also enhances colour stability and odour, making hydrogenated DCPD useful in sensitive applications like automotive coatings and specialty adhesives. The hydrogenated DCPD is being widely used in applications such as automotive, construction, and industrial coatings owing to its premium properties, where strength, stability, and durability are important performance parameters, impacting the long-term life cycle of industrial and consumer applications.

• Others: The ‘Others’ category in hydrogenated petroleum resins encompasses proprietary or blended types of resin designed for specialized or niche applications across adhesives, coatings, and packaging. These resins may mix or provide common properties of C5, C9, or DCPD resins and include raw materials that could come from a variety of feeds for specialized performance parameters like UV stability, elasticity, and adhesion. The customized formulations in this category are most relevant to the specialized sectors such as electronics, medical adhesives, and high-end packaging, which provides flexibility and creativity for the end-users’ diverse needs.

By Application

• Adhesives: Adhesives are a major application segment for hydrogenated petroleum resins because of their tackifying properties, clarity and thermal stability. They enhance adhesion performance in hot-melt adhesives, pressure-sensitive adhesives, and construction adhesives. Most hydrogenated petroleum resins are compatible with polymers such as EVA, SIS and SEBS, which leads to their widespread use in packaging, hygiene products, woodworking applications and automotive assembly. The hydrogenation process eliminates odour while improving colour which is critical for the end-use of many adhesives, such as baby diapers and medical adhesives.

• Coatings: In coatings the hydrogenation process results in excellent colour stability, gloss improvement and chemical resistance.In automotive coatings, industrial paints and protective finishes, they are included in formulations to improve film forming properties and durability. The hydrogenation process eliminates issues with discoloration and retained odour, which is a concern in high-end applications. Hydrogenated petroleum resins can demonstrate compatible products both aesthetically and structurally, which is very important when colour matching resins, pigments and other coatings. When used in wood and metal coatings, hydrogenated resins provide excellent clarity without visual appearance differences or poor flow out.

• Packaging Materials: Hydrogenated petroleum resins are key to advancing packaging materials for adhesive performance, thermal stability and clarity. Many packaging applications see hydrogenated resins included in hot-melt adhesives for carton sealing, flexible packaging, and food-safe applications thanks to their low odour and high purity. The demand for lightweight, durable, and attractive packaging solutions has grown out of e-commerce and consumer products.Hydrogenated resins deliver strong bonding properties that maintain adhesive performance from extremely low to even high temperatures, lending reliability to packaging integrity for the end user.

• Others: The “Others” application category encompasses several specialty applications, including printing inks, rubber compounding, hygiene care products, and electronic products. Hydrogenated petroleum resins help inks look glossy and achieve color stability and drying rate; therefore, hydrogenated resins are ideal for high quality inks. In rubber and tire applications the resins contribute to tackiness and processing. In hygiene care products like diapers and sanitary pads, the resins assure safe and odourless adhesion that meets strict health standards. In electronic applications for encapsulation and in medical conditions where purity and stability must be prioritized.

By End-Use Industry

• Automotive: The automotive industry is the largest end-user of the hydrogenated petroleum resins. Hydrogenated resins are generally used in the adhesives, sealants, coatings, and rubber compounding. Hydrogenated resins can create strong bonds while also providing thermal resistance and weatherability – important characteristics for automotive assembly and tire manufacturing. The hydrogenated resins also improve the performance properties of automotive coatings, such as gloss and color stability, which are important for maintaining strong performance under extreme conditions. More production of electric vehicles and lighter-weight materials will increase the demand for even better performance characteristics in coatings and adhesives.

• Construction: The construction sector generally relies heavily on hydrogenated petroleum resins for adhesives, sealants, and protective coatings with strong bonding and resistance to environmental stresses. The hydrogenated resins improve the performance properties of the flooring adhesives, waterproof membranes, and insulation materials being used for the insignificant structural integrity. Hydrogenated resins have low volatility along with great thermal stability, which makes them suitable for bond construction in extreme temperature conditions. The demand for construction materials with advanced performance attributes is also on the rise due to rapid urbanization, infrastructure development, and smart city development schemes across the globe.

• Packaging: The packaging represents one of the biggest applications for the hydrogenated petroleum resins, especially in hot-melt adhesives for carton sealing, flexible packaging, and food applications. Hydrogenated petroleum resins have the best tack, clarity, thermal stability, and bond strength for long-term storage and transport. They also provide low odour, and peel and all meet sanitary standards and specifications, making them perfect for packaging sensitive substrates. E-commerce growth and demand for quality sustainable packaging have also added demand.

• Electronics: The electronics industry consumes hydrogenated petroleum resins for encapsulation, protective coatings, and adhesives for component assembly. The hydrogenated petroleum resins are generally low odour along with exceptional thermal stability, electrical insulating properties, and high-temperature resistance which makes them ideal for the sensitive electronics and circuitry. It maintains their performance properties over a variety of temperatures and environmental conditions, ensuring reliability in high-tech applications like semiconductors, printed circuit boards, and display panels, etc. The rapid growth in consumer electronics along with EVs and smart devices, is driving the demand for the unique coatings and adhesives.

• Consumer Goods: Consumer goods manufacturers rely on hydrogenated petroleum resins for products requiring high-quality adhesives, coatings, and finishes. These resins are generally used in hygiene products such as diapers, sanitary pads, and medical tapes, where low odour and safe contact are critical. It also improves the product aesthetics in items such as furniture and appliances by improving coating gloss and durability. As there has been a surge in the demand for premium, eco-friendly, and performance-driven products, the manufacturers are adopting hydrogenated resins for their superior properties.

By Form

• Solid: The hydrogenated petroleum resins in the solid form are the most used form and offer multiple benefits like ease of handling along with storage stability and compatibility with the high-quality formulations of adhesives and coatings. They offer superior tackifiers, thermal stability, and color stability which makes them ideal components in hot melt adhesives, pressure-sensitive adhesives, and the compounding of rubber. In industries such as automotive, construction, and packaging the solid resins are preferred owing to the superior performance and durability in high temperature applications, and they have a lasting impact on the adhesion and structural integrity of the product in the end-use.

• Liquid: The liquid hydrogenated petroleum resins are being used primarily in the applications where ease of processing, low viscosity, and homogeneous blends are important. The liquids offer superior flow characteristics and can be used in coatings, printing inks, and specialty adhesives. The gloss, color stability, and surface finishes offered by liquid resins will be a distinct advantage in applications such as automotive coatings, decorative paints, and industrial finishes. Furthermore, the liquid hydrogenated resins are becoming more popular in applications in which high-speed manufacturing, precise application, and product aesthetics are important for achieving advanced formulations and processes.

Impact of Recent Tariff Policies

The hydrogenated petroleum resin market is a specialized segment of the chemical industry, producing high-performance resins used as tackifiers in adhesives, coatings, inks, and other applications. The recent tariff policies are not impacting this market as a standalone entity, but rather through their effects on the broader petrochemical, chemical, and manufacturing industries.

Hydrogenated petroleum resins are produced from petroleum streams resulting from crude oil refining—C5 and C9. Tariffs imposed on crude oil and other chemical feedstocks can thus translate into greater raw material costs for these hydrogenated petroleum resins. The hydrogenation itself is energy-demanding and requires special reactors that can operate at high pressures and temperatures.

With high input costs, producers are faced with a dilemma: to bear these costs, thus affecting their profit margins, or pass them on to their customers, thereby rendering the products less competitive with alternatives. The market for hydrogenated petroleum resins is a global one, having major producers across Asia-Pacific (primarily China), North America, and Europe. This has ruined the previously established flow of goods between these regions.

To minimize the impact of tariffs, companies are therefore widely exploring alternative means of supply chain disruption via diversification and are also considering “reshoring” and “nearshoring” options. This, however, is a very complicated and capital-intensive undertaking. Tariffs can provide a temporary competitive advantage to domestic manufacturers by making imported products more expensive. The imposition of tariffs can lead to a significant shift in market share.

Countries targeted by tariffs may see a decline in their exports, while countries with more favorable trade relationships or no tariffs may gain market share. Tariffs can make hydrogenation petroleum resins more expensive, which may encourage end-users to switch to alternative tackifiers and resins.

Report Scope

Regional Analysis

The Hydrogenation Petroleum Resin Market is segmented by key regions and includes detailed analysis across major countries. Below is a brief overview of the market dynamics in each country:

North America: The North America hydrogenation petroleum resin market is driven primarily by demand from the adhesives, coatings, and packaging sectors. This region has well-established infrastructure, and the automotive and construction sectors consume substantial amounts of hydrogenated petroleum resin. Also, with increasing amounts of eco-friendly and low-VOC materials being specified and used across all industrial applications, hydrogenated resins are increasingly proving useful. As per an article by TD Economics, “The U.S. has implemented 25% tariffs on automotive imports, with partial exemptions granted to Canada, Mexico, and now the U.K. If the tariffs are left in place for the full year, we would expect to see sales fall by 4.0% in the U.S. and 7.5% in Canada on a fourth-quarter-over-fourth-quarter basis in 2025.” The packaging segment is well supported by the growth of e-commerce, supporting consumption and consumption of hydrogenated resin. Increased hygiene standards and regulations, as well as product safety, increase consumption by personal care and medical adhesive manufacturers.

• United States: The US Hydrogenation Petroleum Resin Market accounted for the major share in Hydrogenation Petroleum Resin Market for North America as it has well established sectors in the aerospace, automotive, packaging and construction industries. The light vehicle sale was around 15.4 million in the first quarter of 2024 in the U.S. As such, demand for high-performing adhesives and coatings is very significant, especially in the case of adhesive performance for automobiles and protective finishes for the same. The recent encouraging emphasis on sustainability and low-emission materials has started to accelerate the commute to hydrogenated resins. The hygiene products sector is increasing significant consumption of resins for adhesives as products such as diapers and medical tape are starting to encourage strong consumption.

• Canada: The Canada Hydrogenation Petroleum Resin Market is being supported by the growing applications in packaging, construction adhesives, and industrial coatings. Increasing demand for eco-friendly materials in consumer goods and automotive sectors drives adoption of hydrogenated resins, which offer superior thermal stability and low odour. The country’s robust packaging industry fueled by e-commerce and retail growth, significantly contributes to the resin usage. Furthermore, the Canada’s stringent quality and safety regulations encourage the usage of the high-purity resins in hygiene and medical applications.

Europe: Europe Hydrogenation Petroleum Resin Market is characterized by stringent environmental regulations and solid demand for sustainable materials. Countries in the region place extra emphasis on low-VOC and eco-friendly products resulting in significant opportunities for hydrogenated resins in many different applications, primarily adhesives, coatings, and packaging. As per the report of ACEA “14.8 million vehicles are manufactured in the European Union per year. “The automotive production hubs in Germany and the UK also continue to strengthen consumption as hydrogenated resins provide superior bonds and durability for high-performance coatings and sealants. Furthermore, growth in hygiene and healthcare areas continues to contribute to demand by substituting high-purity resins.

• Germany: Germany Hydrogenation Petroleum Resin Market accounted for a significant share in the European market being driven by a strong automotive market and substantial manufacturing capabilities. Germany utilizes hydrogenated resin marketed in automotive coatings, adhesives, and specialty sealants, products that have more demanding durability and weather resistance requirements than conventional coatings, adhesives, and sealants. Ongoing large-scale investments in electric vehicles and lighter-weight materials will continue to drive demand for high-performance adhesives and subsequently, resins. In addition, Germany’s quality standards and sustainability-based initiatives are also reflected in their packaging industry, with a large portion of the major companies using hydrogenated resin products that meet low-odour and eco-friendly characteristics.

• UK: Strong demand from the packaging, construction, and automotive sectors is supporting the UK Hydrogenation Petroleum Resin Market. As manufacturers and governments are focused more on the sustainable and recyclable materials the manufacturers are switching more towards lower VOC resins for applications in adhesives and coatings. The growth of e-commerce has increased the demand for the packaging especially for hot-melt adhesives as companies require high-performance adhesives to fulfill the packaging requirements. Continued spending on construction projects and upgrades to infrastructure presents greater usage opportunities for hydrogenated resin in sealants and protective coatings.

• France: The France Hydrogenation Petroleum Resin Market is experiencing similar momentum as strong demand exists in the automotive, packaging, and personal care markets. France is focused heavily on sustainability and therefore manufacturers are shifting to low-odour, environmentally friendly resins for coatings and adhesives. The packaging portion of the food and beverage market requires high-purity materials further encouraging the use of resins. In the automotive market, hydrogenated resins are used in coatings and sealants providing added durability and aesthetics. Lastly, the personal care and hygiene markets drive the requirement for safe and odour-free adhesive solutions.

Asia Pacific: The Asia-Pacific Hydrogenation Petroleum Resin Market dominated the global market, which is attributed to rapid industrialization and the strong demand from packaging, automotive, and construction sectors. Countries such as China, Japan, South Korea, and India continue to contribute significantly to the Hydrogenation Petroleum Resin Market due to growing infrastructure projects and a spiking e-commerce industry in the Asia-Pacific region. The area has favorable manufacturing capabilities and overall low production costs, which make it an ideal location for resin producers as well. In addition, increased disposable incomes and the growing consumption of hygiene products are contributing to the demand for high-performance adhesives.

• Japan: The Japan Hydrogenation Petroleum Resin Market is largely driven by the country’s advanced automotive, electronics, and packaging industries. High-performance adhesives and coatings are continuously in demand for automotive assembly and electronic device manufacturing. Japan is recognized as a country that prioritizes quality and precision. Because hydrogenated resins have stable molecular structures and excellent compatibility properties, these resins are a perfect choice. Furthermore, Japan’s growing packaging industry triggered by consumer goods and e-commerce will continue to drive resin utilization for hot-melt adhesives.

• South Korea: The South Korea Hydrogenation Petroleum Resin Market is quite favorable due to its large electronics and auto industries. These sectors require the highly effective adhesives, sealants, and coatings that provide the superior bonding properties and excellent stability that make the hydrogenated resins a strong choice. The packaging industry, through e-commerce and consumer goods sectors, is very strong in South Korea, driving lots of resin consumption. Along with the e-commerce market, investments in electric vehicles, smart technologies and green initiatives are increasing demand for high-performance and low-VOC materials.

• Australia: The Australia hydrogenation petroleum resin market continues to benefit from demand by packaging, construction, and consumer goods sectors. Demand for e-commerce is increasing the demand for adhesives in the packaging materials sector, while the infrastructure development market is driving consumption increases in construction adhesives and coatings. The hygiene and healthcare sectors are also significant consumers of resins, as there is demand for low-odour and pure materials. Australia has a quite progressive regulatory environment and has been promoting the use of environmentally friendly products, thus resin manufacturers have the potential to develop compliant low-VOC & sustainable products.

LAMEA: The LAMEA Hydrogenation Petroleum Resin Market is expected to grow owing to advancements in infrastructure, automotive increase, and packaging demand. Latin America has seen good signs of continued growth, especially in Brazil with the expanding consumer goods market and increasing e-commerce activities influencing the need for strong-performing adhesives and coatings. There is a substantial opportunity within hygienic products. The Middle East is seeing a strong influence of petrochemicals in developing business in adhesive, but is largely industrially demand focused. Africa is starting to see limited growth in the adoption of food hygiene products for consumer goods and in some limited British-funded construction projects.

• Brazil: Brazil Hydrogenation Petroleum Resin Market is one of the key markets within Latin America. The demand is largely driven by the packaging, construction growth, and automotive sector. A continually adaptable e-commerce market, a quickened consumer goods demand, and renewable resources development are creating strong opportunities for high-performing adhesives and coatings in Brazil. There are also large infrastructure extension opportunities, and continued industrialization will create more opportunity for the use of high-performance resins in sealants and protective coatings within construction. Lastly, the hygiene and personal care industry’s transition towards the switch from paraffin to low-odour, high-purity products will increase chances of low-odour high-purity resin being specified in the market by consumers.

• Saudi Arabia: The Saudi Arabia Hydrogenation Petroleum Resin Market is benefiting from its strong petrochemical base and growing industrial sectors. The country’s focus on economic diversification along with the infrastructure development under Vision 2030 fuels the demand for adhesives, coatings, and sealants. The automotive and construction projects need the high-performance materials, while the packaging industry grows alongside consumer goods demand. Hydrogenated resins, with their thermal stability and low odour, are also used in hygiene and medical applications, which are expanding in the region.

Key Developments

The Hydrogenation Petroleum Resin Market has undergone a number of important developments over the last couple of years as participants in the industry look to expand their geographic footprint and enhance their product offering and profitability by leveraging synergies.

• In March 2024, Eastman Chemical introduced a new grade of hydrogenated petroleum resin for the low-VOC adhesive formulations used in automotive and flexible packaging applications.

• In February 2024, Kolon Industries finished expanding its hydrogenated petroleum resin production line in South Korea.

These activities have allowed the companies to further develop their product portfolios and sharpen their competitive edge to capitalize on the available growth opportunities in the Hydrogenation Petroleum Resin Market.

Leading Players

The Hydrogenation Petroleum Resin Market is moderately consolidated, dominated by large-scale players with infrastructure and government support. Some of the key players in the market include:

• Argus Media
• Arkema
• Buss ChemTech
• Credrez
• Dycon Chemicals
• Eastman
• ExxonMobil
• Formosan Union
• GRESIN Chemical
• Higree
• Idemitsu
• Kolon
• Teckrez
• TRiiSO
• Zeon Corporation
• Others

The emerging players in the Hydrogenation Petroleum Resin Market have taken centre stage with emphasis on customized product development and sustainable formulations for differentiation.For example, Kolon has launched a high-performance hydrogenated C5 resin developed specifically for hygiene adhesives to offer upgraded thermal stability and a low-odour product that addresses growing demand in this industry. IDEMITSU launched a UV-resistant hydrogenated DCPD resin for coatings applied in automotive and electronics applications. Eastman has created the EcoResin Series—a new line of bio-based hydrogenated polymers directed toward sustainable applications. Puyang Shenghong Chemical launched hybrid resins with composition characteristics of C5 and C9 resins to provide more flexibility for use in industrial applications.

The Hydrogenation Petroleum Resin Market is segmented as follows:

By Type

• Hydrogenated C9 Petroleum Resin
• Hydrogenated C5 Petroleum Resin
• Hydrogenated DCPD Petroleum Resin
• Other

By Application

• Adhesive
• Coating
• Packaging Materials
• Other

By End-Use Industry

• Automotive
• Construction
• Packaging
• Electronics
• Consumer Goods

By Form 

• Solid
• Liquid

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America