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The steady increase in the Asia Pacific rubber industry is expected to drive the growth of the global colophony industry. Colophony is majorly of two types—gum rosin and tall oil rosin. Both of these find applications in the rubber industry. Their bio-degradable property makes them of increasing relevance as environmental awareness becomes more commonplace globally. Tall oil rosin is also used as a vegetarian-friendly substitute for animal fat in the production of soaps and lubricants.
Eastman Chemical Company (NYSE: EMN) is one of the leading producers of colophony globally. In late 2020, Eastman discussed the benefits of using rosin additives to improve the performance of truck bus radial tyres at the International Elastomer Conference in Cleveland. This is expected to increase the penetration of colophony products in the automotive sector, which can significantly boost the growth of the global colophony industry in the coming years. In May 2021, Kraton Corporation (NYSE: KRA), another leading producer of colophony, launched its new REvolution product line of bio-based, low-colour rosin ester formulations. This is expected to lead to the growth of the rosin ester product line during the forecast period of 2021-2026.
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The major players in the global colophony 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. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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