Pine Derived Chemicals Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1781
Pine Derived Chemicals Market size is mainly driven by the increasing demand of the products in adhesive, paints & coatings, construction and healthcare sectors. Increasing focus towards natural and eco-friendly products, which has resulted in low CO2 emissions. may fuel product demand.
Tall oil rosins have positive application scope in the construction industry. Global construction market may surpass USD 10 trillion by 2024. These products are used as binder in cement, pavement marking and various other applications owing to durability, compressive strength and resistance to adverse weather conditions properties. Rapid industrialization and growing population will enhance the construction industry size and stimulate pine derived chemicals market size.
Tall oil fatty acid (TOFA) may drive the pine derived chemicals market size owing to its strong application outlook in paints & coatings industry. These products are used in alkyd formulations to control hardness and cure rate. Global paints & coatings market may exceed USD 210 billion by 2024, with gains at over 5%. TOFA derivatives include alkyds, dimers, synthetic lubricants and oilfield chemicals may drive the paints & coatings industry due to its air drying and color stability properties.
Increasing application scope in adhesives & sealants industry should drive pine derived chemicals market size. Global adhesives and sealant market is likely to reach over USD 60 billion by 2024, and may register gains at over 5%. Gum rosin, produced from oleoresin of trees are used to enhance adhesives viscosity, plasticity and strength. Gum based adhesives are used for hot melt applications which promotes adhesion of hot melt adhesives for flooring, and packaging products.
Printing inks market may witness significant gains in the pine derived chemicals market size. Increasing opportunities in the packaging ink sector along with adoption of ecofriendly inks should drive printing ink market size. Printing ink resins are derived from renewable tall oil rosin which are used to produce high quality resin. Modified rosin esters are produced to meet application requirements in different printing inks formulations for specific printing methods.
Tapping process owing to latest technology dominated the pine derived chemicals market share It is a time saving & economic process and the process does not damage the wood. Turpentine is a fluid obtained by distilling resins which are collected by tapping pine trees. Turpentine is used for making high quality furniture wax and also used as a solvent to manufacture varnish.
Increasing environmental concern due to rising pollution from products derived from petroleum products and natural gas has led to significant increase in demand of eco-friendly pine derived chemicals products. Increase usage of these products results in reduction of carbon dioxide emission and carbon footprints.
Strong government rules and regulations along with price competition among various pine derived chemicals manufacturers are restraining the market. Limited availability of trees may challenge the industry profitability and affect pine derived chemicals market price trend.
North America, led by Canada and the U.S. pine derived chemicals market size may show gains on account of availability of large number of pine trees in the region. Environmental benefits including reducing carbon foot prints, emissions and creating bioenergy may drive regional industry growth.
Asia Pacific, driven by India, Japan, South Korea and China pine derived chemicals market size may grow significantly owing to rising disposable income along with government support in p promoting these products. Suitable climate and operational benefits along with broad application scope and ease of doing business may drive regional growth.
Europe, led by UK, France, and Germany pine derived chemicals market size may have a stagnant growth due to unavailability of pine trees. Green construction market has strong application in wood products which are derived from pine trees, thereby driving the product demand.
Global pine derived chemicals market share is competitive and fragmented with prominent players like Eastman Chemical Company, Harima Chemicals Group, Renessenz, MeadWestvaco Corporation and Arakawa Chemical Industries, DRT, Arizona Chemical Company, Georgia-Pacific Chemicals, Foreverest Resources. and Mentha & Allied Products.
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