![[Market Report] Global Petroleum Resin Market](https://image.mono.ipros.com/public/product/image/1d0/2001084985/IPROS87204311026116364396.jpeg?w=280&h=280)
[Market Report] Global Petroleum Resin Market
Global Petroleum Resin Market: Promoting Innovation and Expected to Reach 5.4 Billion USD by 2031
The global petroleum resin market is witnessing a dynamic surge, driving innovation and transforming industries. According to recent market reports, the global petroleum resin market reported revenues of approximately $2.77 billion in 2022 and is projected to reach an estimated $5.4 billion by 2031. This remarkable growth trajectory is driven by a robust annual compound growth rate. A growth rate of 7.7% (CAGR) is expected during the forecast period from 2023 to 2031. Petroleum resins derived from cracked petroleum fractions are low molecular weight thermoplastic hydrocarbon resins known for their calming effects and slightly moist characteristics. These versatile resins are applied across a wide range of industries, including paints, coatings, printing inks, varnishes, lithographic inks, paper, adhesives, concrete hardeners, and rubber. Petroleum resins are available in various forms, including crushed nuggets, powders, solid blocks, flakes, solutions, beads, and dispersions. You can check the application method by clicking the [PDF Download] button or apply directly through the related links.
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