Pure Monomer Resins Market: Introduction
Pure Monomer Resins (PMRs) are processed from pure aromatic monomer streams explicitly styrene and alkyl styrene derivatives. Pure monomer resins possess many advantages as compared to other crude resins. Some of them include high thermal stability, heat resistance and governed molecular weight.
Pure monomer Resins are used in various end-use applications. Pure monomer resins are used to provide formulators with capabilities needed to accord adhesive formulations to meet desired end-use application requirements without altering any other physical, chemical or performance properties.
These are considered to possess a special space in tackifier resins available to formulate adhesives. Being made from purified aromatic starting materials, pure monomer resins offer compatibility and versatility of aromatic resins combined with clarity and stability of hydrogenated aliphatic resins. This permits pure monomer resins to be compatible with various base polymers and to provide various desired properties.
Pure Monomer Resins Market: Overview
The pure monomer resins market has discerned a passable growth over the past half-decade. The constant growth in the pure monomer resin market is witnessed due to the steady growth of end-use industries. Some of the crucial end-use industries and applications contribute immense propelling force for prolonging the long run of the market. Foreseeing all the factors included in the supply chain of the pure monomer resins market, it is expected to grow with a mid-single digit CAGR. The pure monomer resins market is highly dependent on various other factors which influence the sealants, coatings and other markets which directly or indirectly propel or thwart the growth of the pure monomer resins market.
Pure Monomer Resins Market: Dynamics
The pure monomer resins market is driven majorly by demand from adhesive, sealant, coatings, plastic and rubber modifiers, road marking paints and various other markets. Moreover, growth in road marking paints market will also eventually contribute to boosting the demand for its raw materials which indeed include pure monomer resins. The widening use of pure monomer resins along with its property to be compatible with a range of base polymers such as amorphous polyolefin (APO), styrene-butadiene-styrene (SEBS), styrene-isoprene-styrene (SIS), styrene-butadiene rubber (SBR), polyethylene, ethylene-vinyl acetate (EVA) copolymers, polychloroprene based adhesives, as well as acrylics, polyesters and aromatic isocyanate based adhesives boosts the product sales into all major industries where pure monomer resins are used.
New entrants in the market are focusing on environment friendly, acrylic pure monomer resins to have greater consumer engage while the existing players are dedicating their R&D teams to supply budget-friendly pure monomer resins by developing low-cost processing methods.
Moreover, the pure monomer resins market growth may be restrained due to high manufacturing costs included in the processing of pure monomer resins. Indeed this is one of the major factors which defines the manufacturers, raw materials pricing, manufacturing or processing costs, workforce or labour costs, energy costs, competition etc.
Besides, the thermoplastic behaviour may cause the pure monomer resins in the form of flakes and pellets to fuse, form blocks or lumps. To avoid this, pure monomer resins must be stored in an ambient temperature and pressure-controlled premises and should not be stored for a prolonged time as the nature of the product is concerned, claims regarding lumping cannot be accepted.
COVID-19 Impact Insights
COVID-19 pandemic restricted human movements and forced nations to impose lockdowns and to implement strict social distancing all around the globe, giving a pause to the global economic curve. The market of pure monomer resins also witnessed a dip due to impose of the lockdown. The pause for rubber manufacturing industries which is the base for the demand of pure monomer resins was also under hold which held back the market growth. The pure monomer resins market which is highly dependent on various other industries also accounted for witnessing vigorous fluctuations in the market due to COVID-19 impact. Anyhow, the lifting of lockdown restrictions by many countries and allowing people to get back to work made it easy for the pure monomer resins market to get back on track. East Asian countries like China being a pioneer in the lifting of lockdown and also being one of the top countries for increasing road constructions, boosted the demand for pure monomer resins.
Segmentation Analysis of Pure Monomer Resins Market
The global pure monomer resins market is bifurcated into four major segments: volatility, form, application, and region.
On the basis of volatility, Pure Monomer Resins Market has been segmented as follows:
- Low Volatile
- Medium volatile
- High Volatile
On the basis of form, Pure Monomer Resins Market has been segmented as follows:
On the basis of application, the Pure Monomer Resins Market has been segmented as follows:
- Road Marking Paints
- Food Packaging
- Plastics Modifications
On the basis of geographic regions, Pure Monomer Resins Market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Pure Monomer Resins Market: Regional Outlook
The global pure monomer resins market seems positive due to the applicability of material in the processing and modification of various plastics and rubbers along with its inclusion in producing various adhesives. Based on the regional split, the report “Pure Monomer Resins” takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia & Oceania and Middle East & Africa. Most of the market share is bagged by the countries present in the Asia Pacific. Rise in demand from Asia Pacific is witnessed due to immense increase in road construction in developing countries present in the region. Prominent demand is also being observed from the Middle East and Africa region accounting for the same factor of increase in developing countries focus on road construction and various upcoming construction projects. Even the companies present in Asia Pacific bag a huge share in contributing to the production of pure monomer resins foreseeing the inclusion and advancement technology present in the region.
For pure monomer resins market, North America and Europe are the most prominent regions after Asia Pacific. This is because North America and Europe account for a solid percentage in the global rubber market resulting in them to have a significant amount of consumption in the pure monomer resins market. But players in European market are vulnerable to the pricing of pure monomer resins due to low availability of raw material as compared to the players in Asia pacific as raw material sourcing is economic in this region and also have lesser government regulations.
Latin America also contributes a significant amount of share in the pure monomer resins market. MEA shows a notable consumption of pure monomer resins as there is a momentous rise in demand from various end-use industries of pure monomer resins in this region.
Pure Monomer Resins Market: Key Players
Being a highly fragmented market, there exists numerous small players in the pure monomer resins market, especially in the Asia Pacific. The increased cost of raw material to make pure monomer resins has impacted small and big players in this market. Some of the key players in the pure monomer resins market are
- Resin Chemicals Co., Ltd
- Kanoria Chemicals and Industries Limited
- Puyang Haida Chemical Co., Ltd.
- Dycon Chemicals
- Henghe Materials & Science Technology Co., Ltd.
Companies operating in the pure monomer resins market adopt strategies like merger, acquisition, collaboration and partnership to scale up the operation and capture the market share. To sustain for a longer run, the key players follow a set of organic strategies by launching a series of new products and few companies also observed to be following inorganic strategies like acquisition, mergers and joint ventures to hold their position in the market, to maintain stability and to defend against opportunity being dragged by a new entrant. But the most common strategy being adopted by players is a mix of both organic and inorganic strategies on a priority basis to defend and to prolong their existence in the market.
The research report presents a comprehensive assessment of the pure monomer resins market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The pure monomer resins Market report provides analysis and information, according to market segments such as geographies, volatality, form and application.
Pure Monomer Resins Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Pure Monomer Resins Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The Pure Monomer Resins report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Pure Monomer Resins report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Pure Monomer Resins report also maps the qualitative impact of various market factors on market segments and geographies.
The Pure Monomer Resins Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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