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Global Pine Chemicals Market Size, Share, Trends, Analysis, Forecast: By Product Type: Tall Oil, Rosin, Turpentine, Others; By Application: Adhesives and Sealants, Coatings, Printing Inks, Lubricant and Lubricity Additives, Biofuels, Paper Sizing, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Pine Chemicals Market Outlook
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.
Key Trends in the Market
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.
- Growing demand for bio-based products due to a surge in environmental awareness is one of the crucial pine chemicals market trends. These chemicals can be utilised in biodiesels, which are an eco-friendly alternative to conventional fuels to reduce the overall carbon footprint.
- Pine-based chemicals such as pine oils and pine essential oils find application in personal care and cleaning products such as air fresheners, perfumes, diffusers, disinfectants, and floor and furniture cleaners, among others, due to their strong aroma.
- The burgeoning usage of rosin in improving the strength of adhesives, aiding the polymerisation process of rubber, and offering water resistance to paper also provide impetus to the pine chemicals market growth.
- There has been a surge in acquisitions and partnerships between key market players to increase pine-based chemicals applications in several sectors and expand their geographical outreach.
Market Analysis
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.
- Wuzhou Pine Chemicals Ltd
- PT Nasco
- PT Oleo Resina Indonesia
- Kraton Corporation
- Ingevity Corporation
- Pine Chemical Group
- Arakawa Chemical Industries Ltd
- Others
Market Share by Application
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.
Market Share by Region
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.
Competitive Landscape
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.
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:
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| Breakup by Product Type |
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| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Pine Chemicals Market Overview
8.1 Key Industry Highlights
8.2 Global Pine Chemicals Historical Market (2018-2023)
8.3 Global Pine Chemicals Market Forecast (2024-2032)
8.4 Global Pine Chemicals Market by Product Type
8.4.1 Tall Oil
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Rosin
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Turpentine
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Pine Chemicals Market by Application
8.5.1 Adhesives and Sealants
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Coatings
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Printing Inks
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Lubricant and Lubricity Additives
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Biofuels
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Paper Sizing
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Pine Chemicals Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Pine Chemicals Market Analysis
9.1 Market by Product Type
9.2 Market by Application
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Historical Trend (2018-2023)
9.3.1.2 Forecast Trend (2024-2032)
9.3.2 Canada
9.3.2.1 Historical Trend (2018-2023)
9.3.2.2 Forecast Trend (2024-2032)
10 Europe Pine Chemicals Market Analysis
10.1 Market by Product Type
10.2 Market by Application
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Historical Trend (2018-2023)
10.3.1.2 Forecast Trend (2024-2032)
10.3.2 Germany
10.3.2.1 Historical Trend (2018-2023)
10.3.2.2 Forecast Trend (2024-2032)
10.3.3 France
10.3.3.1 Historical Trend (2018-2023)
10.3.3.2 Forecast Trend (2024-2032)
10.3.4 Italy
10.3.4.1 Historical Trend (2018-2023)
10.3.4.2 Forecast Trend (2024-2032)
10.3.5 Others
11 Asia Pacific Pine Chemicals Market Analysis
11.1 Market by Product Type
11.2 Market by Application
11.3 Market by Country
11.3.1 China
11.3.1.1 Historical Trend (2018-2023)
11.3.1.2 Forecast Trend (2024-2032)
11.3.2 Japan
11.3.2.1 Historical Trend (2018-2023)
11.3.2.2 Forecast Trend (2024-2032)
11.3.3 India
11.3.3.1 Historical Trend (2018-2023)
11.3.3.2 Forecast Trend (2024-2032)
11.3.4 ASEAN
11.3.4.1 Historical Trend (2018-2023)
11.3.4.2 Forecast Trend (2024-2032)
11.3.5 Australia
11.3.5.1 Historical Trend (2018-2023)
11.3.5.2 Forecast Trend (2024-2032)
11.3.6 Others
12 Latin America Pine Chemicals Market Analysis
12.1 Market by Product Type
12.2 Market by Application
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Historical Trend (2018-2023)
12.3.1.2 Forecast Trend (2024-2032)
12.3.2 Argentina
12.3.2.1 Historical Trend (2018-2023)
12.3.2.2 Forecast Trend (2024-2032)
12.3.3 Mexico
12.3.3.1 Historical Trend (2018-2023)
12.3.3.2 Forecast Trend (2024-2032)
12.3.4 Others
13 Middle East and Africa Pine Chemicals Market Analysis
13.1 Market by Product Type
13.2 Market by Application
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Historical Trend (2018-2023)
13.3.1.2 Forecast Trend (2024-2032)
13.3.2 United Arab Emirates
13.3.2.1 Historical Trend (2018-2023)
13.3.2.2 Forecast Trend (2024-2032)
13.3.3 Nigeria
13.3.3.1 Historical Trend (2018-2023)
13.3.3.2 Forecast Trend (2024-2032)
13.3.4 South Africa
13.3.4.1 Historical Trend (2018-2023)
13.3.4.2 Forecast Trend (2024-2032)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Wuzhou Pine Chemicals Ltd
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 PT Nasco
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 PT Oleo Resina Indonesia
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Kraton Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Ingevity Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Pine Chemical Group
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Arakawa Chemical Industries Ltd
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Pine Chemicals Market: Key Industry Highlights, 2018 and 2032
2. Global Pine Chemicals Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Pine Chemicals Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Pine Chemicals Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Pine Chemicals Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Pine Chemicals Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Pine Chemicals Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Pine Chemicals Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Pine Chemicals Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Pine Chemicals Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Pine Chemicals Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Pine Chemicals Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Pine Chemicals Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Pine Chemicals Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Pine Chemicals Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Pine Chemicals Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Pine Chemicals Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Pine Chemicals Market Structure
Key Questions Answered in the Report
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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