Middle East and Africa Hydrocarbon Resins Market

Market Introduction

The Middle East & Africa region includes South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. The region is expected to witness an increase in urbanization, which would further fuel the growth of the manufacturing sector. Middle Eastern countries look ahead to the adoption of advanced technologies and stand among the most highly urbanized regions. Responding to a shift in global economic power has positioned the Middle East firmly as the world's fastest-growing market, with Dubai and Abu Dhabi turning into global hubs. Therefore, the rising urban population has improved the construction of private residential buildings from semi-urban and urban cities. Besides, the hydrocarbon resins market in the Middle East & Africa is experiencing rapid development due to the increased adoption of hydrocarbon resins by the region's end-use industries such as printing inks, adhesives & sealants, rubber compounding, and paints & coatings. The demand for hydrocarbon resins from various end-use industries can be attributed to their use as tackifiers, homogenizing agents, and performance modifiers. Hydrocarbon resin manufacturers deploy unsaturated hydrocarbons such as diolefins and olefins to polymerize the final product.

In the Middle East & Africa region, South Africa is among the major countries with a high number of COVID-19 confirmed cases and deaths. The COVID-19 pandemic has had a severe impact on the economy of the Middle East & Africa. The pandemic has significantly slowed down the growth of the hydrocarbon resins market in the region due to negative impact upon the growth of industries such as paint, coatings, and many others. The demand for hydrocarbon resins in the region will depend upon the evolution of the epidemic, vaccination plans, and economic recovery.

Market Overview and Dynamics

The hydrocarbon resins market in Middle East & Africa is expected to grow US$ 77.38 million in 2021 to US$ 106.23 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. C9 petroleum resin, C5/C9 copolymer resin, and dicyclopentadiene (DCPD) resin with a high softening point are mainly used in paints. The use of hydrocarbon resins in paints provides enhanced adhesion, gloss, and superior pigment wetting. The addition of hydrocarbon resins to the paint also increases the paint film's hardness, acid resistance, and alkali resistance. Clear to amber in colour the hydrocarbon resins offer resistance to water and other chemicals. The resins can also be hydrogenated to varying degrees to increase stability and hence offer increased heat resistance and anti-oxidant properties. Hydrocarbon resins add water resistance and improved adhesion and weather resistance to industrial coatings and road marking paints. Hydrocarbon resins offers numerous advantages such as increase water repellent property, glossiness and anti-UV property of film, increase the adhesive strength of film on the applied surface, improve processability due to reduced drying time, and improve anti-crack property by applying flexibility to film, among others. Thus, increasing the use of hydrocarbon resins in paints is projected to strengthen the growth of the hydrocarbon resins market.

Key Market Segments

In term of type, C5 petroleum resins segment held a larger market share of the hydrocarbon resins market in 2020. In term of application, adhesives and sealants segment held a larger market share of the hydrocarbon resins market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the hydrocarbon resins market in Middle East & Africa are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Eastman Chemical Company; EXXON MOBIL CORPORATION; Kolon Industries Inc.; Shandong Landun Petroleum Resin Co., Ltd.; Puyang Tiancheng Chemical Co., Ltd.; Shanghai Jinsen Hydrocarbon Resins Co., Ltd; Lesco Chemical Limited; Henan Anglxxon Chemical Co., Ltd.; and Arakawa Chemical Industries, Ltd. among others.

Reasons to buy report

• To understand the Middle East & Africa hydrocarbon resins market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Middle East & Africa hydrocarbon resins market
• Efficiently plan M&A and partnership deals in Middle East & Africa hydrocarbon resins market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Middle East & Africa hydrocarbon resins market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Middle East & Africa region.

Middle East & Africa Hydrocarbon Resins Market Segmentation

Middle East & Africa Hydrocarbon Resins Market – By

Type

• C5 Petroleum Resins
• C9 Petroleum Resins
• C5/C9 Petroleum Resins
• Others

Middle East & Africa Hydrocarbon Resins Market – By Application

• Adhesives and Sealants
• Printing Inks
• Rubber Compounding
• Paints and Coatings
• Tapes and Labels
• Other Application

Middle East & Africa Hydrocarbon Resins Market – By

Country

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Middle East & Africa Hydrocarbon Resins Market – Companies Mentioned

• Eastman Chemical Company            
• EXXON MOBIL CORPORATION         
• Kolon Industries Inc.                          
• Shandong Landun Petroleum Resin Co., Ltd.
• Puyang Tiancheng Chemical Co., Ltd.
• Shanghai Jinsen Hydrocarbon Resins Co., Ltd
• Lesco Chemical Limited
• Henan Anglxxon Chemical Co., Ltd.
• Arakawa Chemical Industries, Ltd.

Middle East and Africa Hydrocarbon Resins Strategic Insights

Strategic insights for the Middle East and Africa Hydrocarbon Resins provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East and Africa Hydrocarbon Resins Report Scope

Middle East and Africa Hydrocarbon Resins Regional Insights

The geographic scope of the Middle East and Africa Hydrocarbon Resins refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.