The global pine chemicals market reached a value of US$ 5.12 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 6.6 Billion by 2027 exhibiting a CAGR of 4.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Pine chemicals are obtained from pine trees using the distillation of wood. They help improve product performance, reduce greenhouse gas emissions, and increase the reuse of materials. As a result, they are widely used in inks, adhesives, perfumes, flavors of fizzy beverages and different food products, paints, fragrances of soaps and home cleaners, food additives, and automobile tires. At present, there is a rise in the utilization of pine chemicals in gum rosin, which further finds application as a concrete frothing agent and floor tiling, heat melt ingredient, pressure-sensitive, and rubber adhesives across the globe.
Pine Chemicals Market Trends: The growing employment of pine chemicals in the mining industry to increase the productivity and efficiency of mining processes, such as extraction and recovery of minerals from ores, represents one of the key factors driving the market. Moreover, there is a rise in the applications of lubricants as antiwear, antioxidants and antifoaming agents, demulsifying and emulsifying agents, and rust and corrosion inhibitors. This, along with the increasing usage of pine chemicals in the flavors and fragrances industry across the globe, is propelling the growth of the market. In addition, extensive use of crude oil and natural gas products is resulting in the growing pollution around the world. As a result, there is a need to minimize fossil fuel consumption and reduce carbon dioxide (CO2) emissions, which in turn, is offering lucrative growth opportunities to the end users and investors. Furthermore, key market players are focusing on partnerships, collaborations, and agreements to improve product quality. These players are also focusing on product launches and expansions. Other growth-inducing factors are improvements in the production side, technological advancements, and rapid urbanization.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global pine chemicals market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, source and application.
Breakup by Product Type: Tall Oil Rosin Turpentine Others
Breakup by Source: Pine Trunks Aged Pine Stumps Kraft Pulp
Breakup by Application: Adhesives and Coatings Solvents and Disinfectants Printing Ink Synthetic Rubber Flavors and Fragrances Others
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being Arakawa Chemical Industries Ltd, Arboris LLC, DRT (Firmenich SA), Eastman Chemical Company, Forchem Oyj, Harima Chemicals Group Inc., Ingevity Corporation, Kraton Corporation, OOO Torgoviy Dom Lesokhimik and SunPine AB.
Key Questions Answered in This Report: How has the global pine chemicals market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global pine chemicals market? What are the key regional markets? What is the breakup of the market based on the product type? What is the breakup of the market based on the source? What is the breakup of the market based on the application? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global pine chemicals market and who are the key players? What is the degree of competition in the industry?
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