C5 Resin Market size is estimated to reach USD 1.2 Billion by the end of 2035, growing at a CAGR of 5% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of C5 resin was around USD 760 Million. The major factor that is attributed to market growth is the rising construction industry across the world. Owing to the advantageous chemical composition of C5 resins, it is considered to be one of the vital components in building infrastructures and other construction projects. For instance, the worldwide construction industry was worth about USD 6 trillion in 2020 and is anticipated to be worth nearly USD 14 trillion by 2030.
Additionally, it is noticed that the growth of the market is dependent on the various advantages provided by C5 resins i.e. good adhesion, along with the compatibility with most of the base polymers, polymer modifiers, and antioxidants.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~5% |
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Base Year Market Size (2022) |
~ USD 760 Million |
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Forecast Year Market Size (2035) |
~ USD 1.2 Billion |
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Regional Scope |
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Application (Paint & Coating, Adhesive, Printing Ink, Rubber and Wax Compounding)
The paint & coating segment in the C5 resin market is estimated to gain the largest revenue share of about 38% in the year 2035. Factors that are estimated to aid segment growth during the analysis period are the increasing demand for paints and coatings from various end-use industries such as automotive, construction, healthcare, adhesives, and others. According to recent statistics, it is anticipated that 860 million gallons of architectural paint was estimated to be used in the United States in 2020. Furthermore, C5 resin has an extensive range of applications as a modifier for paints and printing inks which is also estimated to create a positive outlook for segment growth in the assessment period.
End-User Industry (Construction, Medical, Printing, Mining, Packaging, Automotive, Power Generation)
C5 resin market from the construction segment is expected to garner a significant share of around 32% in the year 2035. The major factor for segment growth during the forecast period is the rapid growth of the real estate sector and the rising favorable initiatives for infrastructure development. According to recent forecasts, real estate businesses generated around USD 10 billion in income in 2021. Furthermore, the increasing number of residential and non-residential building projects, as well as rising investments in research and development activities, are expected to boost segment expansion.
Our in-depth analysis of the global market includes the following segments:
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Application |
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Form |
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Distribution Channel |
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End-Use Industry |
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APAC Market Forecast
The C5 resin market in Asia Pacific is projected to be the largest with a share of about 35% by the end of 2035. The market growth in this region is attributed to the rising growth in the C5 resin production and its high utilization in the region. China and India are the leading countries in the Asia Pacific to churn out the C5 resin. For instance, the total C5 resin production in China amounted to cross USD 175 billion USD 165 billion in 2021. Also, the market in this region is forecasted to grow on the back of rapidly increasing construction activities.
North American Market Statistics
The North America C5 resin market is estimated to be the second largest, registering a share of about 24% by the end of 2035, owing to the excessive utilization of C5 resin in tire manufacturing and adhesive formulation. The growing automotive industry in the region is expected to increase the demand for C5 resin in the region. Also, the market growth is ascribed to the rising investments in prominent applications in various industries along with the emerging advanced technologies in the region during the forecast period.
Author Credits: Smruti Ranjan, Rajrani Baghel
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