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The global pine chemicals market size reached approximately USD 5.53 billion in 2023. The market is estimated to grow at a CAGR of 4.30% in the forecast period of 2024-2032, reaching a value of around USD 8.05 billion by 2032.
Pine chemicals or terpenes are chemicals derived from pine trees through the distillation process. They have a wide range of applications in adhesives, biofuels, inks, perfumes, and soaps, among others.
Based on product type, the market is divided into tall oil, rosin, and turpentine, among others. The pine chemicals market segmentation on the basis of application, includes adhesives and sealants, coatings, printing inks, lubricant and lubricity additives, biofuels, and paper sizing, among others. The major regional markets of pine chemicals 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 pine chemicals market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Adhesives and sealants occupy a sizeable portion of the global pine chemicals market share as pine-based chemicals are essential raw materials in their manufacturing. Rosin and tall oil products provide excellent strength and tackiness to adhesives to improve their longevity. Tall oil resins can also be combined with other polymers to increase the flexibility and performance of adhesives and sealants. Moreover, rosin-based products can be implemented in pressure-based adhesives to provide advanced tackiness and in acrylic adhesives to enhance their adhesion and wetting properties.
As per the regional pine chemicals market analysis, North America accounts for a substantial share of the global market due to the growing presence of several players in the region who are implementing innovative measures to stay ahead of their competitors. Furthermore, the abundance of pine trees in the region due to the optimal climate makes it easier for the players to extract and manufacture pine chemicals. Additionally, the growth of several end-use sectors such as coatings and biofuels is expected to provide lucrative opportunities to the market in the coming years.
Wuzhou Pine Chemicals Ltd is a primary pine chemical manufacturer, incorporated in 2000 and based in Guangxi, China. It provides products for use in the food, pharmaceutical, flavour, papermaking, and ink sector, among others.
PT Nasco is a consumer goods corporation, established in 1963 with its headquarters in Jos, Nigeria. Some of its primary products include gum resin, gum turpentine oil, gum rosin esters, and gum rosin WW grade, among others.
Kraton Corporation, founded in 2000, is a specialty chemicals company, with its headquarters in Texas, the United States. It aims to provide innovative solutions and exceptional value products to its customers.
Other pine chemicals market players include PT Oleo Resina Indonesia, Ingevity Corporation, Pine Chemical Group, and Arakawa Chemical Industries Ltd, among others.
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 Product Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*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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In 2023, the market reached an approximate value of USD 5.53 billion.
The market is projected to grow at a CAGR of 4.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 8.05 billion by 2032.
The major market drivers are the rising applications of the product in several end-use sectors such as automotive, construction, and paper, among others, and the growing demand for adhesives.
The key trends of the market include growing demand for bio-based products, the rising usage of pine chemicals in personal care products, multiple uses of rosin, and acquisition and partnership between the market players.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Various product types are tall oil, rosin, and turpentine, among others.
The key players in the market are Wuzhou Pine Chemicals Ltd, PT Nasco, PT Oleo Resina Indonesia, Kraton Corporation, Ingevity Corporation, Pine Chemical Group, and Arakawa Chemical Industries Ltd, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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