Pine-Derived Chemicals Market by Type (Tall Oil Fatty Acid, Tall Oil Rosin, Gum Turpentine, Gum Rosin, Sterols, and Others), Application (Adhesives & Sealants, Paints & Coatings, Surfactants, Printing Inks, and Others): Global Market Size Estimates and Forecast (2022-2030)
Pine-Derived Chemicals Market by Type (Tall Oil Fatty Acid, Tall Oil Rosin, Gum Turpentine, Gum Rosin, Sterols, and Others), Application (Adhesives & Sealants, Paints & Coatings, Surfactants, Printing Inks, and Others): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 5.6 billion mark in 2022 and is expected to hit US$ 7.9 billion by 2030, recording a CAGR of 4.3% during the forecast period.
Pine-Derived Chemicals market has been significantly increasing with demand from emerging economies.
Increasing demand from construction industry in emerging economies, rising demand for bio-friendly products, growing importance of kraft process and increase in application of pine-derived chemicals are some of the major factors driving the growth of the market. The tall oil fatty acid segment is expected to pace up with owing to increasing demand from various applications such as manufacturing of soap, fuel additives, construction chemicals, and others. in addition, they are naturally sourced and are not chemically modified which has surged its demand. Further, tall oil rosin, gum turpentine, gum rosin, sterols, and other segments are also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, process, application, and geography. By type, the market is further segmented tall oil fatty acid, tall oil rosin, gum turpentine, gum rosin, sterols, and others. By application, the market is categorized into adhesives & sealants, paints & coatings, surfactants, printing inks, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Rising demand for environmentally friendly products has empowered the growth of futuristic innovations.
Pine-derived chemicals are extracted from the pine tree and are bio-based renewable chemicals. These chemicals are obtained through the carbonization process of wood and distillation of oleoresin. Consumer inclination towards bio-based products has surged the demand for pine-derived chemicals. These chemicals are derived naturally and are renewable products and serves as a mechanism to lower the carbon footprints. The pine-derived chemicals are obtained from pine stumps, living trees, and logs for which the industry depends on raw materials from the forestry sector.
Rising adoption in various industries is one of the major factors accelerating the market growth.
The industries for pine-derived chemicals are adhesives & sealants, paints & coatings, surfactants, printing inks, and others. Within these industries, adhesive and sealant industry is one such industry, wherein the use of pine-derived chemicals is increasing owing to increasing demands for bio-based products from automotive and construction industry. In addition, the natural stickiness of rosin makes it an ideal adhesion enhancer when added to adhesives and sealants. The paints & coatings, surfactants, and printing inks has also witnessed an extensive demand for pine-derived chemicals form emerging economies.
Recent strategic developments in pine-derived chemicals market
The pine-derived chemicals market has undergone several significant developments, and a few of these have been mentioned below:
- In February 2022, DCL Corporation entered into partnership agreement with Chemiplas Australia Pty Ltd (Australia), to expand its business in Australia and New Zealand markets.
The pine-derived chemicals market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Eastman Chemical Company, Harima Chemicals Group, Ingevity Corporation, Kraton Corporation, and Forchem OYJ are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Pine-derived chemicals related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Application industry of pine-derived chemicals industry
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type:
- Tall Oil Fatty Acid
- Tall Oil Rosin
- Gum Turpentine
- Gum Rosin
- Sterols
- Others
- Application:
- Adhesives & Sealants
- Paints & Coatings
- Surfactants
- Printing Inks
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Eastman Chemical Company
- Harima Chemicals Group
- Ingevity Corporation
- Kraton Corporation,
- Forchem OYJ
Companies profiled
- Eastman Chemical Company
- Harima Chemicals Group
- Ingevity Corporation
- Kraton Corporation,
- Forchem OYJ