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By eliminating weak double bonds, hydrogenation of hydrocarbon resins primarily improves the color and stability (UV and heat resistance) of the resin. Resins with a wide range of compatibility and good stabil-ity are produced using full, partial, and selective hydrogenation techniques.
The petroleum resin is appropriate for use in literally thousands of applications, including paints and varnishes, coatings, printing ink, lithographic inks, paper, adhesives, rubber, concrete-curing compounds, and other areas where tackiness is required.
The global hydrogenated petroleum resin market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
The primary growth driver in the hydrogenated petroleum resin market in the global market during the anticipated period will be the rising application of hydrogenated petroleum resin in the production of hot-melt adhesives.
In addition to this, the market is driven by the expanding demand for paints and coatings in the global market for hydrogenated petroleum resin, which is also used to produce many other types of paint for the construction and automotive industries.
There are several prospects for market expansion due to the rising demand for a product used in rubber compounding, which is driving up the market for hydrogenated petroleum resin.
The global market for hydrogenated petroleum-resin is expanding quickly, but several reasons are limiting this growth, such as the rising cost of raw materials in the petroleum resin industry, which constitutes a danger to the market’s expansion.
Additionally, the expansion of the hydrogenated petroleum resin market on the worldwide market is constrained by the availability of advantageous substitutes on the market, such as rosin resin.