The application fields of hydrogenated petroleum resin in my country are gradually expanding and the market competition is becoming more intense.

Hydrogenated petroleum resin is also called hydrogenated petroleum resin. The appearance color is mostly light yellow or white. It means that after the petroleum resin undergoes a hydrogenation reaction, the unsaturated hydrocarbons in it are converted into saturated hydrocarbons, and sulfur, nitrogen, halides, etc. are removed. The compatibility, adhesion and weather resistance of impurity products have been greatly improved. After years of development, the types of hydrogenated petroleum resins have become increasingly abundant, which can be roughly divided into hot poly C9 hydrogenated petroleum resins, C5 hydrogenated petroleum resins, DCPD hydrogenated resins, cold poly C9 hydrogenated petroleum resins, etc. Among them, DCPD hydrogenated resin has become a mainstream product in the industry due to its advantages such as low production cost and easy availability of raw materials.

At present, my country’s hydrogenated petroleum resin industry chain has basically been formed. The upstream of the industrial chain is mainly the raw material industry, providing raw materials such as petroleum and hydrogen; the midstream is mainly the production industry of hydrogenated petroleum resin, responsible for the production and manufacturing of different types of hydrogenated petroleum resin; the downstream is mainly oriented to application fields, mostly used to produce sealants , pressure-sensitive adhesive, hot melt adhesive, coatings, inks, paints and other products.

As an important industrial material, adhesives are widely used in packaging, furniture, consumer electronics, construction, automobiles, daily necessities and other fields, and the market demand is relatively stable. Against this background, the scale of my country’s adhesive market has shown a trend of increasing year by year. From 2010 to 2022, my country’s adhesive sales increased from 59.53 billion yuan to 109.68 billion yuan, with an average annual compound growth rate of 5.22%. Hydrogenated petroleum resin is the main raw material for the production of adhesives, and its market has been affected to a certain extent.

According to the “China Hydrogenated Petroleum Resin Industry Application Market Demand and Development Opportunities Research Report 2023-2028” released by the Industrial Research Center , as my country’s production technology gradually advances, the production cost of hydrogenated petroleum resin gradually decreases, the application fields gradually expand, and the market demand gradually increases. Against this background, my country’s hydrogenated petroleum resin enterprises have increased their development efforts, the industrial scale has gradually expanded, and the output of hydrogenated petroleum resin has gradually increased. In 2022, my country’s hydrogenated petroleum resin output will be 281,000 tons, a year-on-year increase of 11.62%.

Industry analysts said that at this stage, there are a large number of companies in my country’s hydrogenated petroleum resin market, and the market competition is relatively fierce. The main foreign hydrogenated petroleum resin companies include Arakawa Chemical, Exxon, Eastman Chemical, Japan Zeon, etc. The main domestic hydrogenated petroleum resin companies include Qiming Chemical, Ganghe Materials, Xingyuan Chemical, Yuangang Petroleum, and Xintian Chemical industry, Daqing Huake, etc. Since my country’s hydrogenated petroleum resin enterprises started late and their production technology is relatively backward, most of the market is occupied by foreign enterprises. With the gradual rise of hydrogenated petroleum resin companies in our country, the gap between production technology and international advanced technology is gradually narrowing, market competitiveness is gradually increasing, and domestic substitution may be gradually realized in the future.