Global Pine Derived Chemicals Market Size to Exceed USD 10.12 Billion by 2032 | CAGR of 5.19%

Global Pine Derived Chemicals Market Size to Exceed USD 10.12 Billion by 2032

According to a research report published by Spherical Insights & Consulting, the Global Pine Derived Chemicals Market Size is to Grow from USD 6.1 Billion in 2022 to USD 10.12 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.19% during the projected period.

Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on The "Global Pine Derived Chemicals Market Size, Share, and COVID-19 Impact Analysis, By Type (Tall oil fatty acid, Tall oil rosin, Gum turpentine, Gum rosin, Sterols, Pitch), By Source (Living tress, Dead pine dumps & logs,  By – Product of sulfate pumping ), By Process (Kraft, Tapping), By Application (Adhesives & sealants, Paints & coatings, Surfactants, Printing inks) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/pine-derived-chemicals-market

Pine-derived chemicals are substances derived from pine trees or any of their parts. Since the pine-derived compounds are sourced from a renewable source, they are used in a wide range of sectors. These compounds are utilized in a variety of industries, including the healthcare sector, the adhesives business, and the construction industry. They are found in adhesives, resins, surface coatings, printing inks, soaps and detergents, plastics, and aromatic compounds.

In recent years, increased use of crude oil and natural gas products has resulted in rising emissions and environmental challenges. As a result, there is a growing need to limit the use of fossil fuels in order to reduce carbon footprints and carbon dioxide emissions. The pine-derived chemicals industry has evolved over decades and is currently at the forefront of renewable bio-based businesses. As a result, demand for these environmentally beneficial chemicals derived from pine is expected to rise steadily over the forecast period. Product demand has increased in various applications such as adhesives, resins, and aromatic chemicals. In addition, rosin gum is used, which is prepared from the oleoresin of the tree, to improve the quality, viscosity, and strength of the adhesive. Hence, these factors will drive the consumption of pine chemicals and oil market growth during the forecast period. However, the cost of pine-based chemicals affects all requirements and limits their acceptance in various applications. Hence, it is expected that this will hinder the growth of the market.

COVID 19 Impact

The market for compounds derived from pine has suffered as a result of COVID-19. The pandemic has presented a number of hurdles for firms looking for raw materials for the production of pine-derived compounds. Covid is harming the pine chemical market due to the shortage of raw materials. Demand for pine-based chemicals has decreased slightly, so manufacturers are looking for other supply partners to continue operations. In the United States, pine mills faced a labor shortage and began to cut production. Demand for long-term oil production for oil fields has fallen sharply in the United States. Rosin gum production has declined in China during this pandemic. TOR output is low due to weak plants operating at a low rate. With government restrictions and supply chain disruptions, manufacturers need to look for other regional partners who can supply them with raw materials. Work associated with end product manufacturers is at high risk of infection, leading to a shortage of professional work and production.

The gum rosin segment is dominating the market with the largest revenue share over the forecast period.

Based on type, the pine-derived chemicals market is segmented into tall oil fatty acid, tall oil rosin, gum turpentine, gum rosin, sterols, pitch, and others. Among these, the gum rosin segment has the largest market share and the highest projected CAGR in the global pine-derived chemicals market. Many applications of gum rosin in adhesives, paints and coatings, inks, rubber, paper, and gum candies make gum rosin in demand in the wood chemical market from pine. In addition, it is expected that the development of these underground companies will be accelerated.

The kraft segment is witnessing significant CAGR growth over the forecast period.

Based on process, the global pine-derived chemicals market is segmented into kraft and tapping. Among these, the kraft segment increased awareness about climate change. The kraft group has dominated the global market as most of them use kraft process companies around the world to extract compounds from pine that help prevent environmental damage.

The by-product sulfate pulping segment accounted for the largest revenue share of more than 59.29% over the forecast period.

Based on the source, the global pine-derived chemicals market is classified into living trees, dead pine stumps & logs, and by-products of sulfate pulping. Among these, the by-product sulfate pulping segment is expected to hold the largest pine-derived chemicals market share during the forecast period. Using a sulfate processing technique, pine wood pulp is created, which is entirely composed of cellulose fiber. The "kraft process"—which is used frequently to extract pine compounds—is used to do this. The two main by-products generated by this method are CTO and CST, and both have several applications in the end-user market.

The paints & coatings segment is expected to hold the largest share of the Energy-Efficient Window Market during the forecast period.

Based on application, the global pine-derived chemicals market is segmented into adhesives & sealants, paints & coatings, surfactants, printing inks, and Others. Among these, the paints & coatings are anticipated to hold the largest market share during the anticipated time range. The use of paints and coatings makes the product durable, attractive, safe, and marketable. The adhesives and sealants segment accounted for the largest share of the global pine chemicals market in 2017. This segment is expected to grow rapidly during the forecast period. Adhesives and sealants work with other assembly materials to provide a durable product.

North America dominates the market with the largest market share over the forecast period.

North America is dominating the market with more than 38.7% market share over the forecast. Major producers have a substantial presence in this area because the US accounts for more than half of the market for pine-derived chemicals in North America. Due to a number of causes, such as the favorable climate, the operational advantages they provide, growing environmental concerns, industrialization, the ease of doing business, and a wide range of applications, they are in great demand.

Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. Asia-Pacific is an important region in the global pine wood market. Businesses in this sector can expand since to the rise in customers, cities, and people with disposable income, as well as the advancement of technology. Europe market is expected to register a substantial CAGR growth rate during the forecast period.

Major key players are Eastman Chemical Company, Renessenz, Harima Chemicals Group, Arakawa Chemical Industries, Ingevity Corporation, Arizona Chemical Company, DRT, Mentha & Allied Products, Preverest Resources Ltd., Kraton Corporation, Ingevity Corporation,Forchem, Eastman Chemical, Arakawa Chemical Industries Ltd., Wuzhou Sun Shine Forestry Ltd.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2022, DCL Corporation (Canada), a color pigment and dispersion manufacturing company, announced a partnership with Chemiplas Australia Pty Ltd (Australia), this partnership will enable Chemiplas to become the sole distributor of DCL Corporation for Australia and New Zealand markets.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global pine-derived chemicals market based on the below-mentioned segments:

Pine Derived Chemicals Market, Type Analysis

• Tall oil fatty acid
• Tall oil rosin
• Gum turpentine
• Gum rosin
• Sterols
• Pitch

Pine Derived Chemicals Market, Process Analysis

• Kraft
• Tapping

Pine Derived Chemicals Market, Source Analysis

• Living trees
• Dead pine stumps & logs
• By-product of sulfate pulping

Pine Derived Chemicals Market, Application Analysis

• Adhesives & sealants
• Paints & coatings
• Surfactants
• Printing inks

Pine Derived Chemicals Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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