C5 resins, also known as alkyd resins, are artificially-prepared polyester resins widely used in several applications such as surface coatings, paints, and varnishes due to their low cost, resistance to chemicals and moisture, and long shelf life. These resins find usage as protective and decorative coatings on metals, wood, paper, and plastics.
Market key trends:
Increasing usage of C5 resins in construction sector is one of the key trends driving market growth. Paints and coatings made from C5 resins are increasingly being used in construction applications such as roof coatings, wall finishes, floor coatings and other applications due to properties like durability, flexibility and resistance to UV rays. The growing construction industry across developing regions of Asia Pacific and Latin America is supporting the increasing consumption of C5 resins. Dampness and rain do not affect structures coated with C5 resin paints providing longevity. This growing application of C5 resins in construction sector is expected to support market growth over the forecast period.
Segment Analysis
The global C5 Resins market is dominated by the aliphatic C5 resins segment. Aliphatic C5 resins are widely used as tackifiers in pressure sensitive adhesives owing to their balanced set of properties including excellent adhesion, flexibility, and heat resistance. They are primarily consumed in tapes, labels, and hygiene products. The aliphatic C5 resins segment accounted for around 70% share of the global market in 2023 due to their superior performance and established use over several decades.
Key Takeaways
The Global C5 Resins Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global C5 Resins Market is estimated to be valued at US$ 861.82 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
Regional analysis shows that Asia Pacific is currently the fastest growing as well as the dominating region in the global C5 Resins market. Factors such as rapidly expanding end-use industries and the presence of emerging economies with considerable manufacturing activities such as China and India are driving the growth of the market in the region.
Key players operating in the C5 Resins market are ABB Ltd., Siemens AG, Larsen & Toubro Limited, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Emerson Electric Co., Mitsubishi Electric Corporation, Toshiba Corporation, Hitachi Ltd., Schneider Electric SE. C5 Resins find widespread application as tackifiers in pressure sensitive adhesives used in tapes, labels, and hygiene products. Key players are focusing on capacity expansion, adopting sustainable manufacturing practices, and new product development to strengthen their market presence and cater to the growing demand for C5 Resins globally.
Explore more information on this topic, Please visit -
https://www.insightprobing.com/c5-resins-market-size-and-trends-analysis/
Explore more trending article related this topic -
https://masstamilan.in/pcb-design-software-essential-tools-for-electronics-product-development/
Comments
0 comment