Key vendors to focus on product extensions through technological innovations.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global petroleum resins market in their latest research report. This report also lists eight other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global petroleum resins market is characterized by the presence of well-diversified international, regional, and local vendors. The dominant players in the market have a well-established geographical presence with large production facilities located across the globe. A sizeable number of small vendors also have an operational presence in the market and have significant shares. Product extensions in terms of innovation in technology are likely to intensify the competition in the market over the next four years.
According to Ajay Adikari, a lead analyst at Technavio for research on plastics, polymers, and elastomers, “Few players in the market have the ability to drive down the market prices as their costs are lower than that of their competitors. Besides, financial, technological, and other resources of some of the suppliers are greater than that of their competitor’s, making such players more susceptible to changes in market conditions.”
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Top five vendors in the petroleum resins market space
Arakawa Chemical Industries
Arakawa Chemical Industries engages in the manufacture and sales of chemicals for paper manufacturing, resins for printing inks and adhesives, and materials for manufacturing electronic products. It offers different paper chemicals such as sizing agents, paper strengthening agents for the manufacture of books, tissues, and other types of papers. In 2015, the company merged with Yamaguchi Seiken Kogyo, which mainly manufactures abrasives.
Key products: P90, P100, P115, M90, and M100.
Eastman Chemical
Eastman Chemical focuses on the production of advanced materials, chemicals, and fibers. It also offers technology-based solutions. The company serves in more than 100 countries. The company has more than 50 manufacturing plants in different countries. It caters to numerous end-use markets, including transportation, building and construction, consumables, and industrial and chemical processing.
Key products: Endex, Kristalex, Piccotex, and Plastolyn. Regalite and Regalrez.
ExxonMobil
ExxonMobil is one of the largest petrochemical companies in the global market. It offers products and services mainly for the oil and gas industries. It also manufactures and sells petrochemicals products such as olefins, specialty products, aromatics, and polyethylene. Most of the resins produced by the company are used in automotive, packaging, personal hygiene, construction, and industrial applications.
Key products: Escorez 5000 series, Escorez 1000, and Escorez 2000 series.
Kolon Industries
The company offers products in industrial materials, chemicals, electronic segment, and clothing businesses globally. Kolon Industries produces and sells industrial materials such as artificial leather, polyester and nylon tire cords, artificial leather, airbags under the FINON brand. The company produces aromatic amides under the brand name Heracron.
Key products: HIKOTACK, HIKOREZ, and SUKOREZ.
Total Cray Valley
Total Cray Valley manufactures and sells hydrocarbon resins globally. It offers different type’s petroleum resins such as aromatic, modified aromatic, and pure monomer resins. It provides hydrocarbon resins for various applications such as construction and building, putties, automobiles, and sealants. It also offers petroleum resins for printing inks, industrial paints, traffic marking paints, and pigment pastes.
Key products: WT95, WT98, and RWT-7850.
A more detailed analysis is available in the Technavio report, Global Petroleum Resins Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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