Global Gum Rosin Market Report and Forecast 2024-2032

Global Gum Rosin Market Outlook

The global gum rosin market size reached approximately USD 1.56 billion in 2023. The market is further estimated to grow at a CAGR of 5.1% in the forecast period of 2024-2032, reaching a value of around USD 2.43 billion by 2032.

Key Trends in the Market

Gum rosin is a plant resin which is brittle and translucent in nature and mainly obtained from the oleoresin of pine trees. It is produced by the distillation process and finds usage in sectors such as paint and coating, and paper, among others.

• The growing demand for sustainable products in several end-use sectors due to a surge in environmental concerns is one of the crucial gum rosin market trends. The gum resin is gaining popularity as an eco-friendly substitute for petroleum resin for paints and coating and adhesive applications, among others.

• The burgeoning construction sector in developing economies provides lucrative opportunities for gum resin in adhesives, paint, and rubber.

• Another prominent trend is the surge in the production of modified gum rosin and new products with improved performance and a low percentage of volatile compounds.

• Market players are heavily investing in research and developmental efforts such as improving the efficiency of the tapping method to increase the resin flow in pine trees for boosting the resin output, which, in turn, is expected to favour the gum rosin market growth.

Market Analysis

Based on product type, the market is divided into WW, WG, N, and X. The gum rosin market segmentation on the basis of application, includes paper, paints and coatings, soap, printing ink, adhesives, and rubber, among others. The major regional markets of gum rosin are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global gum rosin market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• PT Indonesia Pine Chemical Industri (PT. INDOPICRI) 

• Wuzhou Pine Chemicals Ltd 

• PT Nasco 

• PT Oleo Resina Indonesia 

• PT Istana Palapa Kertas (ISPAK) 

• PT Kencana Hijau Bina Lestari

• Guangxi Dinghong Resin Co Ltd 

• Others

Market Share by Application

Gum rosin consumption in adhesive application accounts for a significant gum rosin market share. It is used as a binder in adhesives to improve their strength and viscosity. Increased residential and commercial construction creates a positive outlook for the adhesive segment. Moreover, the surge in the production of light commercial vehicles and heavy-duty vehicles boosts the adhesive demand as they are used to bond composite parts of vehicles. Additionally, adhesive finds usage in the packaging sector for bonding paper and cardboard, and for labels and linings.

Market Share by Region

As per the gum rosin market analysis, the Asia Pacific accounts for a substantial share of the market due to the growing construction sector, which supports the applications of gum resin in adhesives and paints and coatings. Gum rosin is commonly used as a concrete frothing agent, adhesive for floor tiles, and ingredient for paint and varnishes in construction projects. Furthermore, they are used as a softener for rubber in tyres, and belts, among others in the automotive sector of the region.

Competitive Landscape

PT Indonesia Pine Chemical Industri (PT. INDOPICRI), established in 1984, is a manufacturer of paper chemicals and resins. The company, based in Surabaya, Indonesia, is also a major producer of gum rosin raw materials.

Wuzhou Pine Chemicals Ltd, founded in 2000, is a pine chemical company, with its headquarters in Guangxi, China. Some of its popular products include gum rosin, disproportionated rosin, and turpentine, among others.

PT Nasco, founded in 1963 and headquartered in Jos, Nigeria, is a consumer goods company. The company aims to increase its manufacturing capacity due to its growing customer base and provides high-quality consumer products.

Other gum rosin market players include PT Oleo Resina Indonesia, PT Istana Palapa Kertas (ISPAK), PT Kencana Hijau Bina Lestari, and Guangxi Dinghong Resin Co Ltd.

Key Highlights of the Report