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Pine Chemicals Market Size, Share, Trends, Growth Outlook

Pine Chemicals Market Outlook, 2023- Forecasts and Opportunities in Pine Chemicals Industry by Type (Gum Rosin, Crude Tall Oil, TOFA, TOR, Gum Turpentine, Others), Applications (Paints and Coatings, Adhesives and Sealants, Surfactants, Printing Inks, Others), Process (Kraft process, Living trees, Dead pine stumps, and logs), Companies and Countries to 2030

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  • |Published Month : February, 2024
  • |No. of Pages : 203

The $5.91 Billion Pine chemicals market is analyzed across different types including Gum Rosin, Crude Tall Oil, TOFA (Tall oil fatty acids), TOR (Tall Oil Rosin), Gum Turpentine, and others. Widening applications of the pine chemicals presents the robust market growth potential. The pine chemicals industry analysis provides forecasts of market size across Paints and Coatings, Adhesives and Sealants, Surfactants, Printing Inks, and other applications. Key processes used for obtaining pine chemicals including Kraft process, living trees, Dead pine stumps, and logs are also included in the report. Further, business profiles of 10 leading companies and market size forecasts of 20+ countries are provided.

 

Introduction to Pine Chemicals Market

The global Pine chemicals industry is a stable industry for over 80 years and registering a stable growth rate in the recent past. The valuable, green and environmentally friendly industry has grown steadily to a $5.9 billion market, driven by widening use across paints and inks, adhesives, automotive tires, food flavors, fragrances, household cleaners, vitamins, solvents, disinfectants, rubber emulsifiers, rosins, sterols, Tall oil, and other applications. Robust demand for high-purity products coupled with widening applications, in particular, in the value-added end-user verticals encourages the market for pine chemicals.

Living trees, Aged pine stumps, and Co-products of Kraft pulping are the key sources of pine chemicals and the basic chemicals obtained from the pine trees include fatty acids, rosin, pitch and heads, and turpentine.

The post-pandemic market conditions in the pine chemicals industry are characterized by an integrated structure and intense competitive conditions, driving companies to boost operational efficiency. To excel in the intensely competitive environment, Pine chemical companies often opt for long-term contracts with end-users.

The industry is witnessing steady growth in new market entrants, driven by significant growth potential and high-profit margins. The report analyzes leading companies including Kraton Corporation, Ingevity Corporation, Harima Chemicals Group, Inc., Pine Chemical Group, Les Derives Resiniques et Terpeniques (DRT), Arakawa Chemical Industries Ltd, Mercer International, Forchem Oyj, Respol Resinas SA, Synthomer Plc, and others.

 

Pine Chemicals Market Outlook to 2030

Pine Chemicals Market Size Outlook to 2030

The global pine chemicals market size is valued at $5.91 billion in 2022. The environment-friendly nature of the pine chemicals coupled with diversifying applications across end-user industry verticals supports the market outlook. The global pine chemicals market growth is forecast to register a 4.89% compounded annual growth rate between 2022 and 2030. The pine chemicals market revenue is estimated to reach $8.65 billion market size by end of the forecast period.

 

Market Trends- Gum Rosin dominates the global pine chemicals market

The pine chemicals industry is characterized by the demand for various products obtained from pine trees. Of different pine chemicals, the gum rosins market, crude tall oil market, TOFA (Tall Oil Fatty Acid) market, TOR (Tall Oil Resin) market, Gum Turpentine market, Crude Sulphate Turpentine market, and others have the highest market potential. The report identifies the Gum resin pine chemical segment to hold the dominant market share during 2022. The market size of Gum resin stood at $1.97 billion, followed by Crude Tall Oil at $1.3 billion and the TOFA market size of $1.2 billion.

 

The figure below provides the market share of pine chemicals by type -

Pine Chemicals Market Share- Gum Rosin, Tall Oil, TOFA, TOR, Gum Turpentine

 

Market Drivers-Environmental Benefits of Pine Chemicals support its long-term growth potential

Expansion of pine chemicals across sustainable products and markets is among the key driving factor for companies. Robust market demand for bio-friendly products that use natural, renewable products as raw materials is gaining attraction across developed and developing countries. The use of pine wood, pulp and paper processes for the production of crude tall oil, black liquor soap, crude sulfate turpentine, and sawdust supports the market outlook. In particular, the ability of pine chemicals to replace a large number of petroleum-based products, pine chemical refiners utilize the residue of their processes as bioenergy, energy saving, and other environmental benefits support the market growth over the forecast period.

 

Market Restraints- Classification of pine trees as renewable biomass encourages burning them for energy instead of pine chemicals

Despite steady growth in pine chemicals, the government's support for pine trees to be used in bio-based energy generation application poses challenges for the pine chemicals industry. The incentives can reduce the availability of pine trees for the production of pine-derived chemicals. Accordingly, an increased focus on forestry management and sustainability is widely observed.

In addition, stringent regulations governing pine-derived chemicals across the globe pose challenges to companies in terms of reduced profit margins.

Both food and non-food applications of pine chemicals faced the negative impact of the COVID-19 pandemic in 2020 and over 14,000 employees working in the industry faced challenges. However, with recovering economy and trade growth, the pine chemicals industry size is recovering steadily.

 

Market Insights- Dominant Pine Chemical Industry Applications

Diversifying end-user industries present significant growth potential for pine chemical companies. Key applications of pine chemicals include Printing inks, adhesives and sealants, surfactants, paints and coatings, and other applications.

Of the different uses of pine chemicals, the demand for paints and coatings is the highest as most of the pine chemical companies conclude long-term contract agreements with paints and coating companies. The application segment accounted for 32.6% of the global pine chemicals market demand in 2022, closely followed by adhesives and sealants applications.

The figure below provides the market share analysis of leading pine chemical applications in 2022-

Pine Chemicals Market Outlook- Paints, Coatings, Adhesives, Sealants, Surfactants, Printing Inks

Market Share Analysis- Pine Chemicals Market Segmentation by Source

The pine chemicals are sourced from three sources worldwide, including the Kraft process, living trees, dead pine stumps, and logs. Leading biorefineries are focusing on operational efficiency, energy efficiency, and producing high-purity chemicals. Of the three sources analyzed in the report, the Kraft process (obtained as Co-products of Kraft pulping) dominates the global pine chemicals industry.

 

Pine Chemicals Industry Analysis by Region

North America is the dominant region for Pine chemicals market volume and value, largely driven by demand for high-purity products derived from pine trees. On the other hand, the Asia Pacific market is witnessing rapid growth in Pine chemicals market demand over the forecast period. The Asian Pine chemicals market is driven by huge consumption volume in China. According to the Pine Chemicals Organization, the country employs over 5,000 employees directly and creates employment for over 117 thousand people (indirectly and through induced effects). The market growth in Europe also remains robust driven by the increasing preference for bio-based pine chemicals.

 

Pine Chemicals Market Segmentation

Type

  • Gum Rosin
  • Crude Tall Oil
  • TOFA
  • TOR
  • Gum Turpentine
  • Others

Applications

  • Paints and Coatings
  • Adhesives and Sealants
  • Surfactants
  • Printing Inks
  • Others

Process

  • Kraft process
  • Living trees
  • Dead pine stumps and logs

Companies

  • Kraton Corporation
  • Ingevity Corporation
  • Harima Chemicals Group, Inc.
  • Pine Chemical Group
  • Les Derives Resiniques et Terpeniques (DRT)
  • Arakawa Chemical Industries Ltd
  • Mercer International
  • Forchem Oyj
  • Respol Resinas SA
  • Synthomer Plc

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

1. Executive Summary

1.1 Introduction to Pine Chemicals Markets

1.2 Pine Chemicals Market Size Outlook, 2021- 2030

1.3 Growth Opportunities in Pine Chemicals Industry

1.4 Winning Strategies for the post-pandemic future

 

2. Report Guide

2.1 Market Definition and Scope

2.2 Market Segmentation

2.3 Research Methodology

2.4 Forecast Methodology

2.5 List of Abbreviations

 

3. Growth Opportunity Analysis

3.1 Key Pine Chemicals Market Trends

3.1.1 Strong prospects for new market entrants

3.1.2 Environmental Benefits of Pine Chemicals support its long-term growth potential

3.1.3 Gum Rosin dominates the global pine chemicals market

 

3.2 Key Pine Chemicals Market Growth Drivers

3.2.1 Diversifying end-user industries present significant growth potential

3.2.2 Growing demand for adhesives and Sealants

 

3.3 Key Pine Chemicals Market Growth Restraints

3.3.1 Classification of pine trees as renewable biomass encourages burning them for energy instead of pine chemicals

3.3.2 Supply-Demand Fluctuations

 

4 Pine Chemicals Market Outlook – Scenario Analysis

4.1 Low Growth Case Scenario Forecasts: Pine Chemicals Market Size Outlook to 2030

4.2 Reference Growth Case Scenario Forecasts: Pine Chemicals Market Size Outlook to 2030

4.3 High Growth Case Scenario Forecasts: Pine Chemicals Market Size Outlook to 2030

 

5. Pine Chemicals Market Segmentation- Outlook by Type

5.1 Pine Chemicals Market Share Analysis by Type, 2023

5.2 Gum Rosin Market Outlook to 2030

5.3 Crude Tall Oil Market Outlook to 2030

5.4 TOFA Market Outlook to 2030

5.5 TOR Market Outlook to 2030

5.6 Gum Turpentine Market Outlook to 2030

5.7 Others

 

6. Pine Chemicals Market Segmentation- Outlook by Application

6.1 Pine Chemicals Market Share Analysis by Application, 2023

6.2 Paints and Coatings: Pine Chemicals Market Outlook to 2030

6.3 Adhesives and Sealants: Pine Chemicals Market Outlook to 2030

6.4 Surfactants: Pine Chemicals Market Outlook to 2030

6.5 Printing Inks: Pine Chemicals Market Outlook to 2030

6.6 Others

 

7. Pine Chemicals Market Segmentation- Outlook by Process

7.1 Pine Chemicals Market Share Analysis by Process, 2023

7.2 Kraft process: Pine Chemicals Market Outlook to 2030

7.3 Living trees: Pine Chemicals Market Outlook to 2030

7.4 Dead pine stumps and logs: Pine Chemicals Market Outlook to 2030

 

8. North America Pine Chemicals Market Outlook and Opportunities to 2030

8.1 Market Snapshot, 2023

8.2 North America Pine Chemicals Market Growth Opportunities

8.2.1 North America Pine Chemicals Market Outlook by Type, 2021 to 2030

8.2.2 North America Pine Chemicals Market Outlook by Application, 2021 to 2030

8.2.3 North America Pine Chemicals Market Outlook by Country, 2021 to 2030

8.3 United States Pine Chemicals Market Outlook, 2021 to 2030

8.4 Canada Pine Chemicals Market Outlook, 2021 to 2030

8.5 Mexico Pine Chemicals Market Outlook, 2021 to 2030

 

9. Europe Pine Chemicals Market Outlook and Opportunities to 2030

9.1 Market Snapshot, 2023

9.2 Europe Pine Chemicals Market Growth Opportunities

9.2.1 Europe Pine Chemicals Market Outlook by Type, 2021 to 2030

9.2.2 Europe Pine Chemicals Market Outlook by Application, 2021 to 2030

9.2.3 Europe Pine Chemicals Market Outlook by Country, 2021 to 2030

9.3 Germany Pine Chemicals Market Outlook, 2021 to 2030

9.4 France Pine Chemicals Market Outlook, 2021 to 2030

9.5 United Kingdom Pine Chemicals Market Outlook, 2021 to 2030

9.6 Spain Pine Chemicals Market Outlook, 2021 to 2030

9.7 Italy Pine Chemicals Market Outlook, 2021 to 2030

9.8 Other Europe Pine Chemicals Market Outlook, 2021 to 2030

 

10. Asia Pacific Pine Chemicals Market Outlook and Opportunities to 2030

10.1 Market Snapshot, 2023

10.2 Asia Pacific Pine Chemicals Market Growth Opportunities

10.2.1 Asia Pacific Pine Chemicals Market Outlook by Type, 2021 to 2030

10.2.2 Asia Pacific Pine Chemicals Market Outlook by Application, 2021 to 2030

10.2.3 Asia Pacific Pine Chemicals Market Outlook by Country, 2021 to 2030

10.3 China Pine Chemicals Market Outlook, 2021 to 2030

10.4 Japan Pine Chemicals Market Outlook, 2021 to 2030

10.5 India Pine Chemicals Market Outlook, 2021 to 2030

10.6 South Korea Pine Chemicals Market Outlook, 2021 to 2030

10.7 Indonesia Pine Chemicals Market Outlook, 2021 to 2030

10.8 Other Asia Pacific Pine Chemicals Market Outlook, 2021 to 2030

 

11. South and Central America Pine Chemicals Market Outlook and Opportunities to 2030

11.1 Market Snapshot, 2023

11.2 South and Central America Pine Chemicals Market Growth Opportunities

11.2.1 South and Central America Pine Chemicals Market Outlook by Type, 2021 to 2030

11.2.2 South and Central America Pine Chemicals Market Outlook by Application, 2021 to 2030

11.2.3 South and Central America Pine Chemicals Market Outlook by Country, 2021 to 2030

11.3 Brazil Pine Chemicals Market Outlook, 2021 to 2030

11.4 Argentina Pine Chemicals Market Outlook, 2021 to 2030

11.5 Other Latin America Pine Chemicals Market Outlook, 2021 to 2030

 

12. Middle East and Africa Pine Chemicals Market Outlook and Opportunities to 2030

12.1 Market Snapshot, 2023

12.2 Middle East and Africa Pine Chemicals Market Growth Opportunities

12.2.1 Middle East and Africa Pine Chemicals Market Outlook by Type, 2021 to 2030

12.2.2 Middle East and Africa Pine Chemicals Market Outlook by Application, 2021 to 2030

12.2.3 Middle East and Africa Pine Chemicals Market Outlook by Country, 2021 to 2030

12.3 Saudi Arabia Pine Chemicals Market Outlook, 2021 to 2030

12.4 United Arab Emirates (the UAE) Pine Chemicals Market Outlook, 2021 to 2030

12.5 Other Middle East Pine Chemicals Market Outlook, 2021 to 2030

12.6 Egypt Pine Chemicals Market Outlook, 2021 to 2030

12.7 South Africa Pine Chemicals Market Outlook, 2021 to 2030

12.8 Other Africa Pine Chemicals Market Outlook, 2021 to 2030

 

13. Profiles of major world Pine Chemicals Companies

13.1 Kraton Corporation

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.2 Ingevity Corporation

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.3 Harima Chemicals Group, Inc.

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.4 Pine Chemical Group

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.5 Les Derives Resiniques et Terpeniques (DRT)

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.6 Arakawa Chemical Industries Ltd

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.7 Mercer International

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.8 Forchem Oyj

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

- Financial Profile

13.9 Respol Resinas SA

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

- Financial Profile

13.10 Synthomer Plc

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

- Financial Profile

 

14. Appendix

14.1 Publisher’s Expertise

14.2 List of Tables and Charts

14.3 List of Exhibits

14.4 Legal Disclaimer

 

Frequently Asked Questions

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