C5 Resin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Application (Paints and Coatings, Adhesives and Sealants, Printing Inks, Rubber Compounding, and Other Applications) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for C5 resin in terms of volume (kilotons) for all the above segments.

Market Snapshot

C5 Resins Market - market Summary
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: <4 %

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Market Overview

The market for global c5 resin is valued at 470 kilotons in 2020 and is expected to grow at a CAGR of less than 4% globally during the forecast period.

COVID-19 pandemic has negatively affected the market in 2020. The decline in demand for paints & coatings, printing inks, rubber compounding, and others owing to the impact of COVID-19. The construction projects were suspended in order to follow the lockdown norms. Moreover, the uneven or restricted supply of raw materials also impacted the industry to some extent. This further had resulted in the decline in the demand for C5 resins.

  • In the short term, strong growth of the construction industry and rapid increase in demand for hot-melt adhesives from packaging industry are driving the market growth.
  • Replacement of petroleum resins by rosin resins are expected to hinder the growth of the market.
  • Asia-Pacific region is expected to dominate the market with most of the demand coming from China, followed by India.

Scope of the report

The Global C5 Resins Market is segmented based on application and geography. By application, the market is segmented into Paints and Coatings, Adhesives and Sealants, Printing Inks, Rubber Compounding, and Other Applications. The report also covers the market size and forecasts for the c5 resins market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons)

Paints and Coatings
Adhesives and Sealants
Printing Inks
Rubber Compounding
Other Applications
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Growing Demand from Adhesives and Sealants Segment

  • Adhesives and sealants is one of the largest market for C5 hydrocarbon resins. They provide good adhesion and are used to tack in hot-melt and pressure-sensitive adhesives. They are compatible with most base polymers, polymer modifiers and antioxidants.
  • These are used in the production of hot melt adhesives, pressure sensitive adhesives, and other adhesives. Resins are very important in the production of adhesives as they increase the tackifier effect. The addition of petroleum resin to adhesives and pressure-sensitive tapes can improve adhesive adhesion, acid resistance, alkali resistance, and water resistance while also lowering production costs. C5 hydrocarbon resin is soluble and stable and is used in producing hot melt adhesives for nonwoven product construction based on styrene-butadiene-styrene (SBS) block copolymers.
  • Hot melt adhesives are used in packaging, hygiene, assembly and other applications, whereas the pressure sensitive adhesives are used in tapes and labels. With the increasing awareness of hygiene among people and in addition to the COVID-19 outbreak, the demand for hygiene products such as diapers and feminine care products is increasing in the world, thereby increasing the demand for hot-melt adhesives.
  • Automotive adhesives are lighter and much more than simple substitutes for mechanical fasteners like nuts and bolts, rivets, and welds. To fulfil the increased requirements of EV production and current car assembly, adhesive producers are modifying their products (including tapes and films). Meanwhile, automakers are increasingly recognizing the advantages of lighter vehicles, lower vibration levels, a paint alternative, broad stress distribution, lack of metal distortion, less panel corrosion and longer life rigidity, and better bonding of dissimilar materials, as well as lower costs and faster assembly. Thereby, increasing the demand for adhesives from the electric vehicle industry.
  • Plug-in passenger cars sales reached a 4.6% of global market share of new car sales in 2020, up from 2.5% in 2019. The top selling battery electric vehicles (BEVs) in Europe in 2020 were the Renault Zoe, Tesla Model 3, and Volkswagen ID.3, while the top selling PHEVs were the Volkswagen Passat PHEV, Volvo XC40 PHEV, and Mercedes A250e.​
  • The usage of pressure sensitive tapes and labels are also growing majorly in the packaging and medical industry, which is also contributing to the adhesives market which, in turn, is positively affecting the C5 resins market.
C5 Resin Market Segmentation Trends

Asia-Pacific Region to Dominate the Market

  • In Asia-Pacific, China is the leading producer of paints & coatings across the globe. It currently produces more than half of the Asia-Pacific coatings, and is home to more than 10,000 paint companies, among which local producers occupy more than half of the domestic paint market share.
  • Moreover, India has over 550 manufacturers currently engaging in the printing inks business. Huber Group, DIC India, Siegwerk, Sakata, and Flint and Toyo are among the leading players in the printing inks market, comprising around 75% of the total market share.
  • The production of natural rubber in India has rapidly increased in the last two years. The natural rubber production registered a growth rate of almost 20%, with the production of 690 thousand tons. These factors will largely contribute to the demand for C5 resins in the region.
  • Additionally, growing construction industry in Asia-Pacific region, owing to major countries such as China, India and Japan are expected to drive the market for paints & coatings as well as adhesives & sealants in its applications.
  • China is one of the largest manufacturers of rubber components. Although automotive production is impacted negatively, the production of a wide range of rubber products used across various industrial applications, including medical, construction, power generation, paper and printing, petroleum, and mining, is likely to benefit the demand for C5 Resins.
  • Two advanced rubber projects were approved in China in October 2020. Petrochemical Research Institute of CNPC and Shandong Yulong Petrochemical Co. Ltd. formally signed the "Technical License Contract for TBIR and Integrated Rubber’’.
  • Thus, growing demand for C5 resins in various applications in Asia-Pacific region is expected to grow during the forecast period.
C5 Resin Market Regional Trends

Competitive Landscape

The global C5 resin market is consolidated in nature; with the top five players occupying around 50% share in the global market. Some of the major companies in c5 resins market include Eastman Chemical Company, Kolon Industries, Inc., ExxonMobil Corporation, Zeon Corporation, and Zibo Luhua Hongjin New Material Co. Ltd, among others.

Recent Developments

  • In October 2021, Eastman Chemical Company announced that the company and some of its subsidiaries entered into a definitive agreement to sell its adhesives resins assets and business to Synthomer plc for a total cash consideration of USD 1 billion. The sale consists of hydrocarbon resins (including Eastman Impera tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid based resins product lines. The business is currently part of the Eastman’s Additives & Functional Products segment.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Adhesives and Sealants from the Packaging Industry​

      2. 4.1.2 Expansion of the Construction Industry​

    2. 4.2 Restraints

      1. 4.2.1 Replacement of C5 Resins

      2. 4.2.2 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition


    1. 5.1 Application

      1. 5.1.1 Paints and Coatings

      2. 5.1.2 Adhesives and Sealants

      3. 5.1.3 Printing Inks

      4. 5.1.4 Rubber Compounding

      5. 5.1.5 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.2.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.2.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.2.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arakawa Chemical Industries,Ltd

      2. 6.4.2 Cray Valley

      3. 6.4.3 DuPont

      4. 6.4.4 Eastman Chemical Company

      5. 6.4.5 ENEOS Holdings Inc.

      6. 6.4.6 Exxon Mobil Corporation

      7. 6.4.7 Henan Anglxxon Chemical Co.,Ltd

      8. 6.4.8 Kolon Industries, Inc.

      9. 6.4.9 Lesco Chemical Limited

      10. 6.4.10 Neville Chemical Company

      11. 6.4.11 Puyang Ruisen Petroleum Resins Co., Ltd

      12. 6.4.12 Seacon Corporation

      13. 6.4.13 Shanghai Jinsen Hydrocarbon Resins Co., Limited

      14. 6.4.14 Zibo Luhua Hongjin New Material Co. Ltd

      15. 6.4.15 Zeon Corporation

    5. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The C5 Resin Market market is studied from 2016 - 2026.

The C5 Resin Market is growing at a CAGR of <4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Eastman Chemical Company , Kolon Industries, Inc., Zibo Luhua Hongjin New Material Co. Ltd , ExxonMobil Corporation, Zeon Corporation are the major companies operating in C5 Resin Market.

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