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Global Colophony Market to Grow at a Heathy Rate During 2021-2026, Driven by the Asia Pacific Rubber Industry Growth

According to a new report by EMR titled, ‘Global Colophony Market Report and Forecast 2021-2026’, the global market for colophony is being aided by the global gum rosin market, which attained a value of USD 1.8 billion in 2020. The gum rosin market is expected to grow at a CAGR of 3% between 2021 and 2026 to reach USD 2.2 billion by 2026.

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.

Market Analysis by Type, Grade, Form, Application, and Region:

  • The market on the basis of type can be divided into gum, tall oil, and wood.
  • Based on grade, the industry can be divided into X (pale yellow), WW (slight yellow), WG (yellow), N (deep yellow), M (yellow brown), and K (yellow red).
  • The colophony industry can be segmented based on form into crystals or chunks and lumps.
  • The applications for colophony are in adhesives, printing inks, food processing, rubber, paper sizing, coatings, pharmaceuticals, and others.
  • The regional markets for colophony include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing environmental consciousness is expected to drive the growth of the global colophony industry.
  • The recent increase in the demand for natural adhesives, especially in Europe, due to the growing market for bio-degradable products is predicted to strengthen the market outlook for colophony production.
  • The increase in the volume of the rubber industry in the Asia Pacific region is expected to increase the demand for colophony due to its applications at various product stages.
  • The surge in the pharmaceutical industry is expected to lead to an increased demand for colophony during the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for colophony for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) market information for the types, grades, forms, applications, and major regions of colophony.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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