The pine chemicals industry is projected to rise at a healthy CAGR of 5% between 2019 and 2027. High demand in applications such as coatings, disinfectants, and adhesives is the predominant factor driving sales. Rising demand from the fragrances and flavors industries, also continues to aid the growth of pine chemicals market, reveals Fact.MR in its new study.
“Pine chemicals have been gaining substantial traction, with the increasing numbers of downstream applications, despite the expensive production costs,” concludes the Fact.MR report.
Pine Chemicals Market – Key Takeaways
- Rosin products will account for more than 40% of the global pine chemicals market, on the back of high versatility.
- China will remain the leading producer of pine chemicals through the forecast period.
- The coatings & adhesives sector will account for more than 30% through the forecast period.
- North America will remain the major regional market for pine chemicals, while APAC displays substantial growth.
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Pine Chemicals Market – Key Driving Factors
- Changes in regulations such as the U.S. FDA Ingredient Status and Chemical Control Act majorly contribute towards demand growth.
- The demand for bio-friendly products and widening range of applications are significant drivers for the pine chemicals market.
- Initiatives to minimize the use of fossil fuels support the demand for pine chemical products.
- Increase in the number of activities related to raw material import and export will offer a prominent push to pine chemicals market.
Pine Chemicals Market – Key Constraints
- Petroleum based products are still perceived as convenient, which restricts pine chemicals consumption to a certain extent.
- Decline of paper mill production would remain an important and longstanding challenge to the growth of market.
The global pine chemicals market is consolidated. Leading players profiled in the report include, but are not limited to DRT and Eastman Chemical Company, Arakawa Chemical Inc., ArrMaz Custom Chemicals Inc., and Arboris LLC. Market leaders are pushing for the use of recycled feedstock and byproducts to cut production costs, without compromising on sustainability. Emerging competitors are investing in developing effective pine chemical rectification processes, as indicated by the Fact.MR report.
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About the Report
This 170-page study offers readers a comprehensive market forecast of the pine chemicals market. Global, regional and country level analysis of the latest industry trends impacting the pine chemicals market are covered in this Fact.MR study. The report offers compelling insights on pine chemicals market on the basis of product type (tall oil, rosin, and turpentine), source (pine trunks, aged pine stumps, and kraft pulp), application (coatings & adhesives, solvents & disinfectants, printing ink, synthetic rubber, flavors & fragrances), across five regions (Middle East and Africa, Asia Pacific, Europe, Latin America, North America).