Hydrocarbon resins are synthetic polymers derived from petrochemical feedstocks, typically used as tackifiers in adhesives, coatings, inks, rubber, and other applications. These resins are known for their unique properties like enhanced adhesion, chemical resistance, and gloss. The global hydrocarbon resin market has seen significant growth due to its wide applications across various industries, including automotive, packaging, construction, and paints & coatings. The increasing demand for adhesives and sealants, especially in packaging and automotive industries, continues to propel market expansion.

The global hydrocarbon resin industry, valued at US$ 2.6 billion in 2022, is projected to grow at a CAGR of 6.8% from 2023 to 2031, reaching US$ 4.7 billion by the end of 2031.

This growth is driven by increased industrial activities in emerging economies, rising demand in the automotive sector for adhesives, and the growing construction industry. As industries adopt environmentally friendly practices, there is a rising preference for hydrocarbon resins due to their compatibility with various eco-friendly adhesive formulations.