C9 Resin Market Size To Reach $2.68 Billion By 2030

C9 Resin Market Growth & Trends

The global C9 resin market size is anticipated to reach USD 2.68 billion by 2030 and is expected to expand at a CAGR of 5.3% during the forecast period, according to a new report by Grand View Research, Inc. The growing demand in adhesives, coatings, and rubber manufacturing industries primarily drives the market. This petroleum-derived hydrocarbon resin serves as a critical raw material for hot melt adhesives, printing inks, and various coating applications. The automotive and construction sectors particularly rely on C9 resin for its excellent adhesion properties and compatibility with other materials.

In recent years, the packaging industry has emerged as a significant consumer of C9 resin, especially in pressure-sensitive adhesives and tape manufacturing. The rise in e-commerce and retail activities has increased demand for packaging materials, boosting the market. For example, manufacturers of shipping boxes and protective packaging materials frequently use C9 resin-based adhesives for their superior bonding strength and temperature resistance.

The rubber industry represents another major growth driving factor. C9 resin is used as a tackifier to improve the processing and performance characteristics of rubber compounds. This is particularly evident in tire manufacturing, where C9 resin helps enhance tire grip and durability. In addition, the paint and coating industry utilizes C9 resin for its excellent film-forming properties and resistance to weathering, making it valuable for both industrial and decorative applications.

However, the market faces challenges from environmental regulations and the growing emphasis on sustainable alternatives. This has led to increased research and development efforts in bio-based alternatives and recycling technologies. Some manufacturers are exploring ways to produce C9 resin from renewable sources or develop hybrid products that combine traditional C9 resin with more environmentally friendly materials. Despite these challenges, the market continues to grow, supported by expanding applications in emerging economies and ongoing technological advancements in resin processing and modification techniques.

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C9 Resin Market Report Highlights

• The adhesive & sealants application segment accounted for the largest share of over 43.0% of the market in 2024.

• The paint & coating application segment is expected to grow at the fastest CAGR of 6.4% during the forecast period.

• Arakawa Chemical Industries, Ltd, Cray Valley, DuPont, Eastman Chemical Company, ECPlaza Network Inc., Exxon Mobil Corporation, Henan Anglxxon Chemical Co., Ltd, Henan Sanjiangyuan Chemical Co., Ltd, Kemipex, Kolon Industries, Inc., Lesco Chemical Limited, Neville Chemical Company, Puyang Ruisen Petroleum Resins Co., Ltd, Shanghai Jinsen Hydrocarbon Resins Co., Limited, ZEON CORPORATION are some of the key players operating in the market.

• In March 2023, Kolon Industries, Inc. made significant strides in sustainability by achieving certification for its eco-friendly petroleum resins. The company announced that it became the first in South Korea to receive the International Sustainability & Carbon Certification PLUS (ISCC PLUS) for three of its hydrocarbon resin products. These products are derived from renewable raw materials, including bio-naphtha and pyrolysis oil from waste plastics.

C9 Resin Market Segmentation

Grand View Research has segmented the global C9 resin market based on application and region:

C9 Resin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Paint & Coating

• Adhesive & Sealants

• Printing Ink

• Rubber & Tire

• Others

C9 Resin Region Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in The C9 Resin Market

• Arakawa Chemical Industries Ltd

• Cray Valley

• DuPont

• Eastman Chemical Company

• ECPlaza Network Inc.

• Exxon Mobil Corporation

• Henan Anglxxon Chemical Co., Ltd

• Henan Sanjiangyuan Chemical Co., Ltd.

• Kemipex

• Kolon Industries, Inc.

• Lesco Chemical Limited

• Neville Chemical Company

• Puyang Ruisen Petroleum Resins Co., Ltd

• Shanghai Jinsen Hydrocarbon Resins Co., Limited

• ZEON CORPORATION