NEW YORK, Jan. 20, 2023 /PRNewswire/ -- As per Facts and Factors study, The global pine-derived chemicals market size was worth USD 5,293.10 Million in 2021 and is estimated to grow to USD 6,775.11 Million by 2028, with a compound annual growth rate (CAGR) of approximately 4.20%t over the forecast period.
Pine-Derived Chemicals Market: Overview
Compounds derived from natural renewable resources such as pine and pine trees are known as pine-derived chemicals. These compounds are collected from various parts of pine, including pine, tree trunks, and even after the distillation process of these sources. Many chemicals are by-products of manufacturing chewing gum and other products. Pine oleoresin and turpentine are two popular pine-derived chemicals of commercial importance. The latter is derived from pine oil and is commonly used as a paint thinner. Conversely, pine oleoresins have been extensively exploited to explore their potential in developing environmentally friendly chemicals and biofuels. There is a growing demand for pine as a source of pine-derived chemicals to meet the needs of the chemical, food & beverage, and pharmaceutical industries. In particular, pine-derived chemicals are used in biorefineries. Growing awareness of renewable and bio-based products has increased the demand for pine-derived chemicals.
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Our Free Sample Report Includes:
- As per the analysis shared by our research analyst, the global pine-derived chemicals market value is expected to grow at a CAGR of 4.20% over the forecast period.
- In terms of revenue, the global pine-derived chemicals market size was valued at around USD 5,293.10 million in 2021 and is projected to reach USD 6775.11 million, by 2028.
- Increasing demand for renewable resources and applying pine-derived chemicals in end-use industries are the major factors driving the market growth.
- By source, the living trees category dominated the market in 2021.
- By type, the gum rosin category dominated the market in 2021.
- North America dominated the global pine-derived chemicals market in 2021.
Facts and Factors published the latest report titled "Pine-Derived Chemicals Market Size, Share, Growth Analysis Report By Source (Living Trees, Dead Pine Stumps & Logs, And By-product Of Sulfate Pulping), By Type [Tall Oil Fatty Acid, Tall Oil Rosin, Gum Turpentine, Gum Rosin, Sterols, Pitch, And Other Types (Crude Sulfate Turpentine And Its Derivatives)], By Application [Adhesives & Sealants, Paints & Coatings, Surfactants, Printing Inks, And Other Applications (Food Additives, Cosmetics, And Seed Coatings)], By Process (Kraft Process And Tapping Process), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" into their research database.
Industry Dynamics:
Pine-Derived Chemicals Market: Growth Drivers
- Increasing application of pine-based chemicals from various industries to drive the market growth.
A wide variety of products based on pine-derived chemicals touch nearly every aspect of our lives, from perfumes, fragrances, and cosmetics to food additives, automotive adhesives, printing inks, and oil wells. Increase chemicals derived from pine are used to produce flavors such as soft drinks & foods, soaps, household cleaners, vitamins, and food additives. In addition, pine-derived chemicals are used in the automotive industry to make tires.
Pine-Derived Chemicals Market: Restraints
- The limited availability of pine trees worldwide limits the availability of raw materials.
The limited availability of pine trees worldwide limits the availability of raw materials. The growth of the global pine-derived chemicals market will be hindered by this in the coming years. Increased availability of cheaper alternatives may impact sales. Pine trees only grow in certain areas, limiting availability and increasing costs. Stringent government regulations & laws and price competition among various industry lobbies may hinder the potential growth of pine-derived chemicals. Strict rules and regulations leading to fierce competition for pricing these products challenge the market's growth.
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Global Pine-Derived Chemicals Market: Segmentation
- The global pine-derived chemicals market has been segmented into the source, type, application, and process.
Based on the source, the market is classified into living trees, dead pine stumps & logs, and by-product of sulfate pulping. In 2021, the living trees category dominated the global market. Through tapping, pine chemicals are extracted from living trees to produce oleoresins or pine gum. The volatile component of these oleoresins, turpentine, is separated by a distillation process. It is widely practiced across North America, Northern Europe, Russia, and Asia.
By type, the market is classified into tall oil fatty acid, tall oil rosin, gum turpentine, gum rosin, sterols, pitch, and other types (crude sulfate turpentine and its derivatives). In 2021, the gum rosin category dominated the global pine-derived chemicals market because gum rosin is the oldest and most commonly consumed rosin, with applications in paints, coatings, inks, rubber, soaps, electronics, and food industries. A great demand for gum rosin comes from the oil paint industry, which uses resin acid carboxylation reactions to produce resins in paints, coatings, and inks.
Based on the application, the market is classified into adhesives & sealants, paints & coatings, surfactants, printing inks, and other applications (food additives, cosmetics, and seed coatings). In 2021, the paints & coatings category dominated the global market. Pine oil is used in paints and coatings to improve adhesion and act as a permanent coating. It provides environmentally friendly paints and coatings products to use.
Based on process, the market is classified into kraft and tapping processes. In 2021, the kraft category dominated the global market because most companies worldwide produce pine wood using the kraft process as their primary technique for extracting pine chemicals that help reduce environmental damage.
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List of Key Players in Pine-Derived Chemicals Market:
- Eastman Chemical Company
- Harima Chemicals Group
- Ingevity Corporation
- Kraton Corporation
- Mentha & Allied Products Pvt Ltd
- Mahendra Rosin & Turpentine Pvt Ltd
- Arakawa Chemical Industries Ltd
- George-Pacific Chemicals
- Forchem OYJ
- Florachem Corporation
- Dart (Dérivés Résiniques Et Terpéniques
- Foreverest Resources Ltd
- Wuzhou Sunshine Forestry & Chemicals Co. Ltd
- Guilin Songquan Forest Chemical Co. Ltd
- Midhills Rosin & Terpenes
- Resinas Alfonso Criado Martín
- Florpinus Chemical Industries
- Pinechemical Group Oy
- Punjab Rosin & Chemical Works
- Keichem
Key questions answered in this report:
- What are the growth rate forecast and market size for Pine-Derived Chemicals Market?
- What are the key driving factors propelling the Pine-Derived Chemicals Market forward?
- What are the most important companies in the Pine-Derived Chemicals Market Industry?
- What segments does the Pine-Derived Chemicals Market cover?
- How can I receive a free copy of the Pine-Derived Chemicals Market sample report and company profiles?
Report Scope:
Report Attribute
| Details
|
Market size value in 2021
| USD 5,293.10 Million
|
Revenue forecast in 2030
| USD 6,775.11 Million
|
Growth Rate
| CAGR of almost 4.20 % 2022-2028
|
Base Year
| 2020
|
Historic Years
| 2016 – 2021
|
Forecast Years
| 2022 – 2030
|
Segments Covered
| By Type, By Application, By Payload and By Propulsion System
|
Forecast Units
| Value (USD Billion), and Volume (Units)
|
Quantitative Units
| Revenue in USD million/billion and CAGR from 2022 to 2028
|
Regions Covered
| North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
|
Countries Covered
| U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
|
Companies Covered
| Eastman Chemical Company, Harima Chemicals Group, Ingevity Corporation, Kraton Corporation, Mentha & Allied Products Pvt Ltd, Mahendra Rosin & Turpentine Pvt Ltd, Arakawa Chemical Industries Ltd, George-Pacific Chemicals, Forchem OYJ, Florachem Corporation, Dart (Dérivés Résiniques Et Terpéniques, Foreverest Resources Ltd, Wuzhou Sunshine Forestry & Chemicals Co. Ltd, Guilin Songquan Forest Chemical Co. Ltd, Midhills Rosin & Terpenes, Resinas Alfonso Criado Martín, Florpinus Chemical Industries, Pinechemical Group Oy, Punjab Rosin & Chemical Works, aKeichem., and Others
|
Report Coverage
| Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
|
Customization Scope
| Avail of customized purchase options to meet your exact research needs.
https://www.fnfresearch.com/customization/pine-derived-chemicals-market
|
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Recent Developments
- October 2021: Kraton Corporation (NYSE: KRA) ("Kraton"), a leading global sustainable manufacturer of specialty polymers and high-value bio-based products derived from pine pulp by-products, has entered into a definitive merger agreement ("Merger Agreement"), DL Chemical Co., Ltd. ("DL Chemical") is a subsidiary of DL Holdings Co., Ltd. (former Obayashi Industry Co., Ltd.)
Regional Dominance:
- North America dominated the pine-derived chemicals market in 2021.
The global pine-derived chemicals market was ruled by North America in 2021 and is projected to maintain its dominance during the forecast period as well. Increasing implementation of new and innovative approaches in the crafting process of pine chemical extraction factors are driving the market for building materials, cosmetics, vitamin intermediates, pine oil sanitizers, insect repellents, fragrances & perfumes, and food & beverage flavorings in the region, which the source of chemicals derived from pine trees, which contributes to the growth of the market. Increasing demand for products from adhesives and sealants applications is likely to drive market growth. Additionally, increasing adoption of sterols and rosins in printing inks will boost market growth.
Global Pine-Derived Chemicals Market is segmented as follows:
Pine-Derived Chemicals Market: By Source Outlook (2022-2028)
- Living trees
- Dead pine stumps & logs
- By-product of sulfate pulping
Pine-Derived Chemicals Market: By Type Outlook (2022-2028)
- Tall oil fatty acid
- Tall oil rosin
- Gum turpentine
- Gum rosin
- Sterols
- Pitch
- Other types (crude sulfate turpentine and its derivatives)
Pine-Derived Chemicals Market: By Application Outlook (2022-2028)
- Adhesives & sealants
- Paints & coatings
- Surfactants
- Printing inks
- Other applications (food additives, cosmetics, and seed coatings)
Pine-Derived Chemicals Market: By Process Outlook (2022-2028)
- Kraft process
- Tapping process
Pine-Derived Chemicals Market: By Region Outlook (2022-2028)
North America
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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