Global HHCR Market size- Industry Trends & Forecast Report 2026.
The global HHCR market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 970 million in 2020. The market is further expected to touch USD million by 2027, growing at a CAGR of almost 8% during 2021-2027 (forecast period). Hydrogenated hydrocarbon resin (HHCR) is a hydrogenated product of various resins. Mostly, C5, C9, DCPD, or a mixture of all 3 is used as a feedstock to produce HHCR. HHCR requires extreme conditions for the hydrogenation to take place. HHCR is used to enhance the adhesiveness of adhesives, to produce tackifiers, in paints and coatings, lubricants, packaging materials, etc. HHCR is being increasingly used in the production of baby diapers.
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Global HHCR Resin Market Overview:
HHCR, also known as “WaterWhite” is formed by hydrogenation of resins under extreme conditions (HPHT – High temperature, High pressure). Based on the feedstock used, HHCR has 3 grades. C5-HHCR, C9-HHCR, and DCPD-HHCR. Sometimes, a mixture of all 3 is also used as a feedstock to produce HHCR. Sometimes, highly specific catalysts are used to produce HHCR with specific properties. Paints and coatings are one of the major areas of application for HHCR. Based on the degree of hydrogenation, type of product, and reactor type used for the process, the properties of the products can vary. Batch and the continuous operation mode is used for the production of a highly consistent product.
HHCR Market Forecast and Trends
Growth Drivers
Increasing demand for end-user industry products, i.e. Sanitary products, medical care products, will drive the market in the forecast period.
HHCR have many applications thanks to their ability to get polymerized with a range of monomers. In recent times, HHCR has found application in sanitary products and medical care products. Both the markets of sanitary products and medical care products are multi-million markets and are expected to grow with a healthy CAGR in upcoming years. HHCR has found a major application in both industries. This will affect the growth of the market positively in the forecast period.
Increasing use of HHCR in the production of baby diapers is going to affect the growth ofthe market positively in the forecast period.
Baby products have always been an excellent market driver. Increasing use of HHCR in the manufacturing of baby diapers is going to affect the market positively in the upcoming years. HHCR can be used with the natural rubber, as rubber particles and HHCR have mutual solubility. HHCR is also used in the modification of polyolefin resins, rubber compounding, lubricants, and in the production of pressure sensitive adhesives.
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Restraints
Due to Very high investment, maintenance, and operating costs are likely to affect the market growth negatively.
The hydrogenation reaction of hydrocarbons does not take place under normal conditions. Extreme conditions (HPHT – high pressure, high temperature) are required for the hydrogenation process. For generating such conditions, a lot of capital investment is required. Small companies, without the security of large funds to back them, are likely to move away from investing big. A specific type of catalyst is required for products with specific properties. The Companies, buying catalysts from other companies will again have to invest big for getting such a catalyst, and it’ll again affect the market negatively.
Impact of COVID-19 in industry
The global economy and humanity have been pushed into a crisis due to the COVID-19 pandemic. Due to the high infection rate and adverse impact on public health systems, various governments have enforced nationwide lockdowns significantly impacting manufacturing supply chains, trade, and related services. Players are currently considering digital solutions that would enable them to serve the community and provide new opportunities to do business. The production, manufacturing, supply chain, and other operations, have slowed down globally aimed to limit the spread of the coronavirus. The global impact of the coronavirus disease 2019 (COVID-19) is likely only beginning and it significantly affected the market in 2020. The second wave of COVID-19 has started, and with the cases of the second strain of COVID-19 increasing, the countries are again announcing nationwide lockdowns. Despite the growing uncertainty and panic, technology suppliers must continue to focus on their long-term investments, maintain engagement with partners and prospects, and look to specific markets for stability.
HHCR Resin Market: By Grade
HHCR resin market is divided into C5-HHCR, C9-HHCR, and DCPD-HHCR. C5-Hydrogenated hydrocarbon resin (C5-HHCR) possesses excellent adhesive strength. It is often used with adhesives to increase its adhesive strength. C5-HHCR not just enhances the adhesive strength, but also provides enhanced thermal and color stability. It also protects UV-rays, acid, water, and alkali. Owing to these properties, C5-HHCR dominated the HHCR market and is most likely to drive the market again in the forecast period. C5-HHCR is being preferred over C5-HCR as C5-HHCR enhances the color stability of paints and coatings and enhances the thermal and oxidative resistance.
HHCR Resin Market: By End Use
Based on the End-use, the HHCR resin market is segmented into Paints and coating, tackifiers, hot melt adhesives, rubber compounding, UPR, baby diapers, lubricants, etc. The adhesives market is likely to dominate globally. The enhanced thermal and oxidative resisting properties along with resistive nature against water, acids, and alkali are fueling the demand and acting as the major factors driving the growth of this end-user segment. HHCR is also used for the manufacturing of hygiene products, polyolefin modifiers, rubber solvent, etc.
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HHCR Resin Market: Regional Insight
HHCR market on the global level is divided into Asia-Pacific, North America, South America, Europe, and the Middle East. Asia-Pacific region is most likely to dominate the HHCR market with China, and India leading the way. The regional market share will grow in the forecast period with the growing automotive industry, increasing construction work, and growth of many other industries. High demand for adhesive, tapes, baby diapers, paints and coatings, lubricants, will be driving the market in Asia-Pacific.
North America and Europe will follow the lead and will maintain a steady growth rate, due to their high disposable income, the willingness of big players to take a risk and invest in the hydrogenation process, with the availability of a skilled workforce.
Competitive landscape
Global HHCR market includes Axis Chemicals Pty Ltd, Commonwealth Laminating & Coating Inc, Credrez, Dycon Chemicals, BASF, Dow Chemicals, Henghe Petrochemical Co., Ltd, Shandong ShenxianRuisen Petroleum Resins Co., Ltd, Resin Chemicals Co. Ltd, SGL Carbon, Solutia Inc., Sumitomo Chemicals, Ineos Phenol, ExxonMobil, Rain carbon, Zeon Corporation, Idemitsu, Puyang Changyu Petroleum Resins, Lesco, Kolon Hydrocarbon, PuyangTiancheng Chemical Co. Ltd, Arakawa Chemical Industries, and others.
In the HHCR market, prominent market participants compete based on price and product quality. Small and medium-sized market players are expected to show considerable improvements in the foreseeable future, given the moderate level of capital expenditure needed to set up a business. The large-sized companies, however, are likely to aim for global expansion, in a bid to gain a more considerable brand reputation.
Scope of the Report
By End Use Industry
�? Sealants
�? Unsaturated Polyester Resins
�? Tackifiers
�? Paints and coatings
�? Hot melt adhesives
�? Packaging materials
�? Rubber Compounding
�? Baby diapers
�? Others
By Region
�? North America
�? Europe
�? Asia Pacific
�? Middle East and Africa
�? Latin America
What is the goal of the report?
-The market report presents the estimated size of the market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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