High demand for crude oil to bring profitable opportunities for the petroleum resins market
Petroleum Resins is usually prepared from crude oil, natural gas, kerosene, or other crude oil products with specific additives for specific applications. Petroleum resins can be prepared as a solid, liquid, or gaseous and are extensively used in a wide range of industries such as petrochemical, chemical, transportation, power generation, chemicals, petroleum exploration, and plastics production. Rapid growth in the end-use industries such as personal hygiene, building & construction, automotive, and tire is driving the growth of the petroleum resins market. These resins are widely used across various applications such as rubber compounding, printing inks, paints & coatings, adhesives & sealants, and other applications is again expected to foster the growth of the petroleum resins market . Growing demand for crude oil is also estimated to augment the growth of the market. Energy Information Administration estimates that U.S. crude oil production will average 11.0 mi...