Global Pine Chemicals Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Pine Chemicals Market: Overview

"The Pine Chemicals Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

Pine chemicals are obtained from materials, that are derived from the pine tree belonging to genus Pinus. Pine trees are generally originated from northern hemisphere and are now founded worldwide. Pine chemicals are derived from the distillation of carbonization or oleoresin of wood.

In addition, these chemicals are mainly obtained from three sources namely dead pine stumps and logs, as by-products of sulfate (or Kraft) pulping, and living trees The pine chemical is used in several industrial applications such as resins, plasticizers, soaps and detergents, fragrance chemicals, surface coatings, and many others

Global Pine Chemicals Market: Dynamics

A major factor driving growth of the global pine chemicals market is rising demand for environment-friendly products.  Eco friendly products refers to goods and services that impose minimal, or no harm upon ecosystems or the environment.

In addition, growing construction activities, rising disposable income level, increasing applications of printing inks, adhesives, soaps and detergents, etc. across various sectors are the factors expected to drive the revenue growth of the target market over the forecast period.

Furthermore, advancements in technology, improvement on the production side, and increasing urbanization are some other factors expected to boost the demand of the pine chemicals.

However, increasing government incentives for burning biomass is a factor that is expected to hamper the revenue growth of the target market to a certain extent.

Global Pine Chemicals Market: Trends and Opportunity

Major player in the Pine Chemicals market are collaborating with other local players to form effective supply chain and cater to growing demand for pine chemicals, and is the trend witnessed in the market currently. Owing to growing construction activities in developing countries, there is a lucrative opportunity for the manufacturers to increasing their presence in these countries.

Global Pine Chemicals Market: Segment Analysis

On the basis of chemical type, gum rosin segment is expected to witnessed high CAGR over the forecast period. This is due to high functional benefits and increasing applications in gum-based candy, rubber, adhesives, paints & coatings, etc.

On the basis of application, coatings segment is expected to register dominate the target market.

Global Pine Chemicals Market: Regional Analysis

Currently, the market in North America is expected to dominate the target market and maintain its dominance over the forecast period. This is primarily due to growing demand for bio-based chemicals in various end use industries such as rubber, automotive, paper, etc.

The market in Asia Pacific is expected to register the highest CAGR and grow significantly over the next ten years, owing to rising disposable income and higher government supports in countries in the region. The markets in Europe is expected to account for moderate market share in the global market, followed by Latin America, and Middle East & Africa markets in the global pine chemicals market.

Global Pine Chemicals Market Segmentation:

Segmentation by chemical type:

• Tall Oil Rosin (TOR)
• Tall Oil Fatty acid (TOFA)
• Gum Rosin
• Gum Turpentine
• Sterols
• Others (include, pitch, wood rosin, etc.)

Segmentation by application:

• Adhesives & Sealants
• Chewing Gums
• Coatings
• Dimer Acids
• Mining and Floatation Chemicals
• Fuel
• Lubricants & Lubricity Additives
• Metal Working Fluid
• Oil Drilling
• Others (include paper sizing, printing inks, rubber, soaps & detergents, etc.)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa