Global Pine Chemicals Market Is Estimated To Grow With A CAGR Of Over 5% During The Forecast Period (2019-2027)

UNITED STATES, January 20, 2022 /EINPresswire.com/ -- The global Pine-Derived chemicals market is estimated to grow with a CAGR of over 5% during the forecast period (2019-2027) and reach a value pool of over US$ 19 Bn. Significant growth is projected within the Pine-Derived chemicals market owing to increased demand for bio-friendly products.

In addition, pine chemicals are experiencing high demand in various applications due to its immense utilization in coatings, adhesives and disinfectants. Increasing demand of Pine-Derived chemicals from the flavors and fragrances industry is also likely to boost market growth over the forecast period.

With these aforementioned factors, competitors are working on developing a cost-effective rectification process for pine chemicals to be utilized in adhesives, lubricants, inks, types and paint & coatings.

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The pine chemicals market is witnessing prolific growth on account of raw material imports and exports. Raw materials purchased constitute over 50% of the shipment volume.

Fuel and electricity (including electricity purchased) are other high cost items, accounting for over 5% of the shipment cost. Extensive use of crude oil and natural gas products in the recent past has led to increased pollution.

Consequently, with the growing need to minimize fossil fuel consumption and reduce carbon dioxide emissions, the global pine chemicals market is gaining traction.

North America to Remain in Forefront, as Exports Soar
Due to the involvement of influential exporters, North America emerged in 2018 as the largest regional supplier within the pine chemicals market, covering a market share of more than 30%. The development of bio-refineries in the region is further providing impetus for regional market growth.

Europe emerged as the second largest market, mainly attributed to the region's prevalent ‘all-natural' trend for cosmetics and personal care products. In addition, the emergence of a robust manufacturing base for personal care industries in countries such as the United Kingdom, France and Germany will be a favorable market growth factor.

Asia Pacific is anticipated to be the fastest growing regional market, with a CAGR of over 4% due to increased demand in the cosmetics and personal care industries from developing countries such as China and Japan.

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Global Pine Chemicals Market: In-Depth Assessment on Key Segments

The global pine chemicals market is segmented on the basis of product type, source, application and region.

Product Type
• Tall Oil
• Rosin
• Turpentine

Source
• Pine Trunks
• Aged Pine Stumps
• Kraft Pulp

Application
• Coatings & Adhesives
• Solvents & Disinfectants
• Printing Ink
• Synthetic Rubber
• Flavors & Fragrances

Region
• North America
• Latin America
• Europe
• APAC
• MEA

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.

Competitors to Benefit from Rectification Processes and Robust Partnerships
The global pine chemicals market is consolidated in nature with key competitors such as Arakawa Chemical (USA) Inc., Arboris, LLC, ArrMaz Custom Chemicals, Inc., DRT and Eastman Chemical Company acquiring the top shares.

Recycled feedstock and recycled by-products from other sectors are used by suppliers as the preliminary raw material, considerably lessening production costs while maintaining sustainability.

Developing effective pine chemical rectification processes is the primary strategy for emerging competitors. In addition, the establishment of robust partnerships with several FMCG companies to ensure capital flow has been the prime factor in the growth of the pine chemical industry.

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Key Takeaways of Pine Chemicals Market Study
• In 2018, more than 40% of the total pine chemicals market accounted for rosin products
• Rosin’s special versatility makes it a favored source for adhesive resins, inks, gum, and drink stabilizers
• North America accounted for the highest market share within the global pine chemicals market due to the high production and consumption rates in U.S.
• The complex and changing regulations, including the U.S. FDA Ingredient Status and Chemical Control Act is kindling market demand for pine chemicals for use in food and packaging adhesives
• APAC is projected to grow at a CAGR of over 4% during the forecast period due to an amplifying preference for natural and bio-based products in the region
• China is presently the largest producer of pine chemicals in the world, accounting for more than half of the total world output
• The convenience of less exclusive petroleum-based products and reducing paper mill production are some of the restrictive factors that could hamper the global pine chemicals market during the forecast period.

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