Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

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

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:

  • Product Type
  • Application
  • Region
Breakup by Product Type
  • WW
  • WG
  • N
  • X
Breakup by Application
  • Paper
  • Paints and Coatings
  • Soap
  • Printing Ink
  • Adhesives
  • Rubber
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

*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 reached an approximate value of USD 1.56 billion.

The market is projected to grow at a CAGR of 5.1% 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 2.43 billion by 2032.

The major market drivers are its growing applications in adhesives and paints and coatings sectors and rapid urbanisation and industrialisation.

The key trends of the market include growing demand for sustainable products, expanding construction sector, surge in production of modified gum rosin and new products, and research and development activities by market players.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Various types of products in the market are WW, WG, N, and X.

The key players in the market are 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, and Guangxi Dinghong Resin Co Ltd, among others.

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