Report

Hydrocarbon Resins
99/00S10
March 2001

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Contents
Section
1

Page

Executive Summary .................................................................................................

1-9

1.1

SYNOPSIS.....................................................................................................

1-9

1.2

OVERVIEW ..................................................................................................

1-10

1.2.1

Hydrocarbon Resins What Are They? ............................................

1-10

1.2.2

Feedstocks for Synthetic Hydrocarbon Resins ..................................

1-10

1.2.3

Manufacturing Processes ...................................................................

1-11

1.3

PROCESS ECONOMICS..............................................................................

1-13

1.4

COMMERCIAL STATUS ............................................................................

1-15

1.5

STRATEGIC ISSUES ...................................................................................

1-17

1.5.1

Value Added Potential .......................................................................

1-17

1.5.2

Globalisation ......................................................................................

1-18

Introduction..............................................................................................................

2-1

2.1

AIM OF THE STUDY...................................................................................

2-1

2.2

OVERVIEW ..................................................................................................

2-2

2.2.1

What are Hydrocarbon Resins? .........................................................

2-2

2.2.2

How Are They Used?.........................................................................

2-2

2.2.3

Feedstock Sources..............................................................................

2-3

2.2.4

Molecular Structures..........................................................................

2-4

2.2.4.1

Aliphatic Resins ................................................................

2-4

2.2.4.2

Resins from Cyclopentadiene............................................

2-5

2.2.4.3

Aromatic Resins ................................................................

2-5

CHEM SYSTEMS PRODUCTION COST METHODOLOGY...................

2-6

2.3.1

Capital Cost Estimation .....................................................................

2-6

2.3.1.1

Battery Limits Investment.................................................

2-6

2.3.1.2

Off-Sites Investment .........................................................

2-7

2.3.1.3

Contractor Charges(2) Typically 15-25 percent of Installed

BL and OS Costs ...............................................................

2-8

2.3.1.4

Project Contingency Allowance........................................

2-8

2.3.1.5

Working Capital ................................................................

2-8

2.3.1.6

Other Project Costs............................................................

2-8

2.3

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2.3.2

Cost of Production Elements .............................................................

2-10

2.3.2.1

Battery Limits....................................................................

2-10

2.3.2.2

Production Costs ...............................................................

2-10

Process Technology..................................................................................................

3-1

3.1

FEEDSTOCKS ..............................................................................................

3-1

3.1.1

Petroleum Derived .............................................................................

3-1

3.1.1.1

Processing Pyrolysis Gasoline ..........................................

3-1

3.1.1.2

Dicyclopentadiene Removal .............................................

3-4

3.1.1.3

Piperylene Concentrates ....................................................

3-4

3.1.1.4

C9 Resin Oils ....................................................................

3-6

3.1.1.5

C4 Streams ........................................................................

3-6

3.1.2

Coal Tar Derived................................................................................

3-6

3.1.3

Pure Monomers..................................................................................

3-8

3.1.4

Naturally Sourced ..............................................................................

3-8

3.1.4.1

Rosin Esters and Salts .......................................................

3-8

3.1.4.2

Terpenoids.........................................................................

3-8

3.1.4.3

Asphaltite ..........................................................................

3-8

PROCESS CHEMISTRY ..............................................................................

3-9

3.2.1

Lewis Acid Catalyzed ........................................................................

3-9

3.2.1.1

Cationic Polymerisation ....................................................

3-9

3.2.1.2

Process Control Issues.......................................................

3-11

Thermal Processes .............................................................................

3-13

PROCESS DESIGN.......................................................................................

3-14

3.3.1

Aliphatic Resins .................................................................................

3-14

3.3.2

DCPD Resins .....................................................................................

3-16

3.3.3

Aromatic Resins.................................................................................

3-17

3.3.4

Waterwhite Resins .............................................................................

3-19

3.3.5

Other Resin Systems ..........................................................................

3-21

Process Economics ...................................................................................................

4-1

4.1

OVERVIEW ..................................................................................................

4-1

4.2

UNITED STATES .........................................................................................

4-3

3.2

3.2.2
3.3

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Contents

4.2.1

Aliphatic Resins .................................................................................

4-3

4.2.2

Aromatic Resins.................................................................................

4-3

4.2.3

Mixed C5-C9 Systems .......................................................................

4-3

4.2.4

Thermal DCPD Resins.......................................................................

4-7

4.2.5

Hydrogenation....................................................................................

4-7

4.2.6

Pure Monomer Resins........................................................................

4-7

4.2.7

Summary for the United States ..........................................................

4-15

4.3

WESTERN EUROPE ....................................................................................

4-17

4.4

JAPAN ...........................................................................................................

4-19

4.5

SENSITIVITIES ............................................................................................

4-21

Commercial Status...................................................................................................

5-1

5.1

REVIEW OF END-USES..............................................................................

5-1

5.1.1

Adhesives...........................................................................................

5-1

5.1.2

Sticky Tapes ...................................................................................

5-2

5.1.3

Sealants ..............................................................................................

5-2

5.1.4

Coatings .............................................................................................

5-2

5.1.5

Printing Inks.......................................................................................

5-2

5.1.6

Rubber Compounding........................................................................

5-3

5.1.7

Plastics Compounding .......................................................................

5-3

5.1.8

Miscellaneous End-Uses....................................................................

5-3

5.1.9

Naming and Modeling Conventions ..................................................

5-3

GLOBAL SYNTHETIC RESIN MARKET..................................................

5-5

5.2.1

End-Uses ............................................................................................

5-5

5.2.2

Aliphatic Resins .................................................................................

5-5

5.2.3

Aromatic Resins.................................................................................

5-8

5.2.4

Waterwhite Resins .............................................................................

5-11

UNITED STATES .........................................................................................

5-15

5.3.1

Production Capacity...........................................................................

5-15

5.3.2

Supply/Demand Balance....................................................................

5-16

5.4

WESTERN EUROPE ....................................................................................

5-20

5.5

JAPAN ...........................................................................................................

5-25

5.2

5.3

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5.6
6

OTHER REGIONS........................................................................................

5-29

Strategic Issues .........................................................................................................

6-1

6.1

OVERVIEW ..................................................................................................

6-1

6.2

VALUE ADDED POTENTIAL ....................................................................

6-2

6.3

GLOBALIZATION .......................................................................................

6-4

References.................................................................................................................

7-1

Appendix
A
B

Page

Cost of Production Estimates for Synthetic Hydrocarbon Resin Production in

Western Europe .......................................................................................................

A-1

Cost of Production Estimates For Synthetic Hydrocarbon Resin Production in

Japan .........................................................................................................................

B-1

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Figure

Page

1.1 Petrochemical C5 and C9 Stream Production............................................................

1-11

1.2 Schematic Hydrocarbon Resin Processes ..................................................................

1-12

1.3 Hydrocarbon Resin Production Costs........................................................................

1-14

1.4 Global Synthetic Hydrocarbon Resin Consumption by Major End-Use, 2000 .........

1-15

1.5 Global Hydrocarbon Resin Consumption by Type, 1994-2015 ................................

1-16

1.6 Hydrocarbon Resin Value Added Potential...............................................................

1-17

2.1 Aliphatic Resin Monomers ........................................................................................

2-3

2.2 Major Aromatic Resin Monomers .............................................................................

2-4

2.3 A Possible Aliphatic Resin Structure.........................................................................

2-4

2.4 Cyclopentadiene Resins .............................................................................................

2-5

2.5 A Possible Aromatic Resin Structure ........................................................................

2-5

3.1 Petrochemical C5 and C9 Stream Production............................................................

3-2

3.2 Wilton Coal Tar Distillation Process .........................................................................

3-7

3.3 Potential Energy Distribution for Lewis Acid Disengagement from Double Bond ..

3-12

3.4 Lewis Acid Catalyst Effects.......................................................................................

3-13

3.5 Semi-Continuous Catalytic Aliphatic Hydrocarbon Resin Plant...............................

3-15

3.6 Semi-Continuous Catalytic Aliphatic Hydrocarbon Resin Plant...............................

3-15

3.7 Semi-Continuous Thermal DCPD Hydrocarbon Resin Plant....................................

3-16

3.8 Semi-Continuous Thermal Acid DCPD Hydrocarbon Resin Plant ...........................

3-17

3.9 Semi-Continuous Catalytic Aromatic Hydrocarbon Resin Plant...............................

3-18

3.10 Semi-Continuous Catalytic Aliphatic Hydrocarbon Resin Plant...............................

3-18

3.11 Semi-Continuous Catalytic Hydrocarbon Resin Plant...............................................

3-19

3.12 Multipurpose Batch-Wise Homogeneous Hydrogenation .........................................

3-20

3.13 Multipurpose Batch-Wise Heterogeneous Hydrogenation ........................................

3-20

4.1 Hydrocarbon Resin Production Costs........................................................................

4-16

4.2 Hydrocarbon Resin Production Costs........................................................................

4-18

4.3 Hydrocarbon Resin Production Costs........................................................................

4-20

4.4 Hydrocarbon Resin Production Costs........................................................................

4-21

4.5 Aliphatic Resin Production Cost Sensitivity..............................................................

4-22

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4.6 Aromatic Resin Production Cost Sensitivity .............................................................

4-22

5.1 Global Synthetic Hydrocarbon Resin Consumption by Region, 2000 ......................

5-5

5.2 Global Aliphatic Hydrocarbon Resin Consumption by Region, 1994-2015 .............

5-6

5.3 Global Aliphatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015 ............

5-7

5.4 Global Aliphatic Hydrocarbon Resin Trade by Region, 1995-2015 .........................

5-8

5.5 Global Aromatic Hydrocarbon Resins Consumption by Region, 1994-2015 ...........

5-9

5.6 Global Aromatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015 ............

5-10

5.7 Global Aromatic Hydrocarbon Resin Trade by Region, 1995-2015 .........................

5-11

5.8 Global Waterwhite Hydrocarbon Resin Consumption by Region, 1994-2015 .........

5-12

5.9 Global Waterwhite Hydrocarbon Resin Supply/Demand Balance, 1994-2015.........

5-13

5.10 Global Waterwhite Hydrocarbon Resin Trade by Region, 1995-2015......................

5-14

5.11 United States Aliphatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015..

5-17

5.12 United States Aromatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015..

5-18

5.13 United States Waterwhite Hydrocarbon Resin Supply/Demand Balance, 1994-2015

5-19

5.14 West European Aliphatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015

5-22

5.15 West European Aromatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015

5-23

5.16 West European Waterwhite Hydrocarbon Resin Supply/Demand Balance, 1994-2015 5-24
5.17 Japanese Aliphatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015 .........

5-26

5.18 Japanese Aromatic Hydrocarbon Resin Supply/Demand Balance, 1994-2015.........

5-27

5.19 Japanese Waterwhite Hydrocarbon Resin Supply/Demand Balance, 1994-2015 .....

5-28

6.1 Hydrocarbon Resin Value Added Potential...............................................................

6-2

Table

Page

1.1 Cost of Production Summary for Hydrocarbon Resins .............................................

1-13

1.2 Major Hydrocarbon Resin Producers Global Capacity, End 2000 ............................

1-18

3.1 Preferred Polymer - Tackifier Resin Combinations...................................................

3-1

3.2 Composition of A Typical Unsaturated C5 Streams by Source ................................

3-3

3.3 Composition of A Typical Unsaturated C9 Stream ...................................................

3-3

3.4 Typical Composition Range for Piperylene Concentrates.........................................

3-5

3.5 Typical Composition Range for Piperylene Concentrates.........................................

3-5

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3.6 Composition of A Typical Coal Tar Sourced C9 Stream ..........................................

3-7

4.1 Feedstock Prices.........................................................................................................

4-1

4.2 Utility Prices ..............................................................................................................

4-2

4.3 Cost of Production Estimate For: Aliphatic Hydrocarbon Resin Process: PiperyleneBased, Leis Acid Catalysis ........................................................................................

4-4

4.4 Cost of Production Estimate For: Aromatic Hydrocarbon Resin Process: C9-Based,
Lewis Acid Catalyst...................................................................................................

4-5

4.5 Cost of Production Estimate For: Aliphatic/Aromatic Hydrocarbon Resin Process:

C5-C9 Based, Lewis Acid Catalysis..........................................................................

4-6

4.6 Cost of Production Estimate For: Low Purity Dicyclopentadiene Process: Crude C5
Stream Heat Soak/Fractioncation ..............................................................................

4-8

4.7 Cost of Production Estimate For: Reactive Cycloaliphatic Hydrocarbon Resin

Process: Thermal Polymerization of Low Purity DCPD ...........................................

4-9

4.8 Cost of Production Estimate For: Hydrogenated Cycloaliphatic Hydrocarbon Resin

Process: DCPD Thermal Polymerisation/High Pressure Hydrogenation ..................

4-10

4.9 Cost of Production Estimate For: C9 Modified Hydrogenated Cycloaliphatic

Hydrocarbon Resin Process: DCP/D/C9 Thermal Polymerisation/High Pressure
Hydrogenation............................................................................................................

4-11

4.10 Cost of Production Estimate For: Hydrogenated Aliphatic Hydrocarbon Resin

Process: High Pressure Hydrogenation of Aliphatic Resin .......................................

4-12

4.11 Cost of Production Estimate For: Hydrogenated Aromatic Hydrocarbon Resin

Process: High Pressure Hydrogenation of Aromatic Resin .......................................

4-13

4.12 Cost of Production Estimate For: Pure Monomer Hydrocarbon Resin Process: Two
Stage Polymerization .................................................................................................

4-14

4.13 Cost of Production Summary for Hydrocarbon Resins .............................................

4-15

4.14 Cost of Production Summary for Hydrocarbon Resins .............................................

4-17

4.15 Cost of Production Summary for Hydrocarbon Resins .............................................

4-19

5.1 Global Aliphatic Hydrocarbon Resin Demand by Region, 1994-2015 .....................

5-6

5.2 Global Aromatic Hydrocarbon Resin Demand by Region, 1994-2015.....................

5-9

5.3 Global Waterwhite Hydrocarbon Resin Demand by Region, 1994-2015 .................

5-12

5.4 United States Synthetic Hydrocarbon Resin Capacity, End 2000 .............................

5-15

5.5 United States Aliphatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015

5-16

5.6 United States Aromatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015

5-17

5.7 United States Waterwhite Hydrocarbon Resins Supply/Demand Balance, 1994-2015

5-18

5.8 West European Synthetic Hydrocarbon Resin Capacity, End 2000 ..........................

5-20

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5.9 West European Aliphatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015

5-21

5.10 West European Aromatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015

5-22

5.11 West European Waterwhite Hydrocarbon Resins Supply/Demand Balance,

1994-2015 ..................................................................................................................

5-23

5.12 Japanese Synthetic Hydrocarbon Resin Capacity, End 2000 ....................................

5-25

5.13 Japanese Aliphatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015 .......

5-26

5.14 Japanese Aromatic Hydrocarbon Resins Supply/Demand Balance, 1994-2015 .......

5-27

5.15 Japanese Waterwhite Hydrocarbon Resins Supply/Demand Balance, 1994-2015....

5-28

5.16 Other Synthetic Hydrocarbon Resin Capacity, End 2000 .........................................

5-29

6.1 Major Hydrocarbon Resin Producers Global Capacity, End 2000 ............................

6-5

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