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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Colophony Market Outlook
The global colophony market is strongly connected to the market of its by-product, gum rosin, which attained a value of USD 1.98 billion in 2023. The global gum rosin market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 3.5% to reach USD 2.67 billion by 2032.
| Global Colophony Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 1.98 |
| Market Size 2032 | USD Billion | 2.67 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 3.5% |
| CAGR 2024-2032 - Market by Region | North America | 3.9% |
| CAGR 2024-2032 - Market by Country | India | 4.7% |
| CAGR 2024-2032 - Market by Country | China | 4.3% |
| CAGR 2024-2032 - Market by Type | Crystals/Chunks | 5.8% |
| CAGR 2024-2032 - Market by Application | Adhesives | 5.6% |
| Market Share by Country 2023 | India | 3.9% |
Wide Applications of Gum Rosin to Support the Growth of the Global Market for Colophony
The global colophony industry is expected to show healthy growth in the forecast period of 2024-2032 due to the rising demand for gum rosin as an adhesive. Colophony’s most common form is known as gum rosin, which accounts for about half of the world’s production of colophony, while over a quarter is produced as tall oil rosin. It is also widely used due to its sticky properties in the production of printing inks, rubber, chewing gum, coatings, and other products. Due to its applications in a large number of industries, there are several factors driving the growth of gum rosin, especially, the rising demand for natural substitutes for adhesive bases in these industries.
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Increasing Demand for Natural Adhesives in Europe to Boost the Demand for Colophony
While the Asia Pacific is the leading producer and importer of colophony and its products, the spread of environmental awareness, especially in Europe, is leading to a surge in demand for biodegradable products. Due to colophony’s properties as a natural adhesive, it is being used as a substitute for synthetic materials in several industries, including adhesives, printing inks, coatings, and others. This is expected to be a key factor in the growth of the global colophony industry during the forecast period.
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Colophony: Market Segmentation
Colophony, also known as rosin or Greek pitch, is produced by heating fresh resin obtained from pines and conifers to obtain a solid form. The final product is semi-transparent, and the colour may vary from yellow to black.
The most commonly-produced types of colophony are:
- Gum
- Tall Oil
- Wood
The market can be broadly categorised on the basis of grade into:
- X (Pale Yellow)
- WW (Slight Yellow)
- WG (Yellow)
- N (Deep Yellow)
- M (Yellow Brown)
- K (Yellow Red)
| CAGR 2024-2032 - Market by | Type |
| Crystals/Chunks | 5.8% |
| Lumps | XX% |
The global colophony industry can also be broken down based on form as:
- Crystals/Chunks
- Lumps
| CAGR 2024-2032 - Market by | Application |
| Adhesives | 5.6% |
| Printing inks | 3.7% |
| Coating | 3.6% |
| Food Processing | XX% |
| Pharmaceuticals | XX% |
| Others | XX% |
Colophony finds its applications in the following industries:
- Adhesives
- Printing Inks
- Food Processing
- Rubber
- Paper Sizing
- Coatings
- Pharmaceuticals
- Others
| CAGR 2024-2032 - Market by | Region |
| North America | 3.9% |
| Europe | 3.6% |
| Asia Pacific | XX% |
| Latin America | XX% |
| Middle East and Africa | XX% |
| CAGR 2024-2032 - Market by | Country |
| India | 4.7% |
| China | 4.3% |
| Canada | 4.0% |
| Brazil | 3.8% |
| Germany | 3.5% |
| USA | XX% |
| UK | XX% |
| France | XX% |
| Italy | XX% |
| Japan | XX% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Mexico | 3.2% |
| 2023 Market Share by | Country |
| India | 3.9% |
| USA | XX% |
| Canada | XX% |
| UK | XX% |
The EMR report looks into the regional markets of colophony like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Demand for End-Use Products to Drive the Growth of the Global Market for Colophony
The growth in the adhesives, printing inks, and coatings industries has led to a healthy growth in the market size for colophony. Both tall oil and gum rosin are used in rubber production, and the developing rubber industry in the Asia Pacific is a major factor driving the growth of the colophony industry during the forecast period.
Colophony is used in the pharmaceutical industry for making coatings and films for tablets, as well as for the formulation of microcapsules and nanoparticles. The recent surge in the pharmaceutical industry due to the COVID-19 pandemic is expected to increase the demand for colophony in the future. However, the rising prices for colophony in comparison with other pine resin-based substitutes may affect the growth of the industry adversely.
Key Industry Players in the Global Colophony Market
The report presents a detailed analysis of the following key players in the global colophony market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Eastman Chemical Company
- Forestar Chemical Co. Ltd.
- Foshan Baolin Chemical Industry Co. Ltd.
- BiologiQ, Inc.
- Resin Chemicals Co. Ltd.
- Kraton Corporation
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Grade |
|
| Breakup by Form |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Colophony Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 1.98 billion.
The global colophony industry is strongly correlated to the global gum rosin market, which is expected to grow at a CAGR of 3.5% during the forecast period of 2024-2032.
The global colophony industry is strongly dependent on the global gum rosin market, which is expected to grow at a steady pace and reach a value of USD 2.67 billion by 2032.
The major drivers of the market include growing demand for natural adhesives, rising disposable incomes, robust growth of the pharmaceuticals sector, and the increasing use of colophony in the production of coatings and printing inks, among others.
The key trends guiding the market are the flourishing rubber sector, the rising use of colophony in formulating nanoparticles and microcapsules, and the growing use of colophony as a substitute for synthetic materials in various end-use sectors.
The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Gum, tall oil, and wood are the major types of colophony.
The various segments on the basis of grade considered in the market report include X (pale yellow), WW (slight yellow), WG (yellow), N (deep yellow), M (yellow brown), and K (yellow red).
The significant forms of colophony considered in the market report include crystal/chunks and lumps.
Adhesives, printing inks, food processing, rubber, paper sizing, coating, and pharmaceuticals, among others, are the major applications of colophony.
The key players in the market are Eastman Chemical Company, Forestar Chemical Co. Ltd., Foshan Baolin Chemical Industry Co. Ltd., BiologiQ, Inc., Resin Chemicals Co. Ltd., and Kraton Corporation, among others.
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