Newly released data from pine-derived chemical market analysis by Future Market Insights shows that global consumption of pine-derived chemicals enjoyed a year-on-year (YOY) growth of 3.8% in 2021 to total global sales of USD 5.5 Bn. The global pine-derived chemicals market will expand at a CAGR of 4.4% over 2022-2032 to reach a revenue of USD 8.4 Bn.
Chemicals from pine trees occur naturally and are thus environmentally friendly. Their use leads to lower emissions of carbon dioxide as opposed to those from conventional sources. The widespread use of crude oil and natural gas products in the recent past has contributed to increased emissions and environmental issues.
While the world’s companies nowadays shift towards the use of emission-free, environmentally friendly materials in their processes, growth in this market is sure. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
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It includes in-depth insights into the pine-derived chemicals market. Some of these are:
- The estimated value of the market was at US$ 5 Bn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- The pine-derived chemicals market is primarily driven by its widespread usage in the areas of construction, printing and publishing, cleaning products, paper and a number of other industrial activities.
- In the last few years North America has dominated the overall market.
- The United States has a significant number of pine tree plantations, and thus has the highest share.
- The Asia Pacific market is powered by rising understanding of environmentally friendly goods and substantial efforts to reduce global carbon footprint.
- In terms of process, the kraft segment leads the market and is likely to remain dominant through the course of the report’s forecast period.
Poor Logistics Resulted Due to COVID-19 Outbreak will Affect Supply Disruptions
Pine-derived chemicals have historically been used amongst others chemicals in the adhesive industry, the building industry and the healthcare sector. In the recent past, they have found applications in applications in printing inks, adhesives, soaps & detergents, resins, plasticizers, surface coatings, fragrance chemicals among others.
Pine chemicals are obtained by distilling resin and fatty oil extracts that are semi-solid. Pine-based products are mainly produced from gums, stumps and Kraft Pulp products. They include rosin, high oil, turpentine, resin and so forth.
Factors such as poor logistics due to traffic control and restrictions on public movement are affecting the market for pine-derived chemicals since these restrictions are causing disruptions in supply. While this may not affect the pine industry’s requirements in the short term, extended trade restrictions can have a significant impact on this industry, prompting companies to explore alternative sourcing partners.
Increasing population coupled with increasing economic standards has led to increased spending on food services. Contrary to the aforementioned forecasts, however, the market may head to tough waters.
Who is Winning?
Key players operating in the market are Eastman Chemical Company, Harima Chemicals Group, Inc., Arakawa Chemical Industries, Ltd., Kraton Corporation, and Forchem Oyj. Strong government rules and regulations along with price competition between different manufacturers of pine derived chemicals are restricting the market.
Limited supply of trees may threaten the competitiveness of the industry and may impact the market price trend for pine related chemicals. Additionally, mergers and acquisitions continue to be a popular strategy among market players.
PINE-DERIVED CHEMICALS MARKET SEGMENTATION
The global Pine- Derived Chemicals Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
By Source :
- Living trees
- Dead pine stumps & logs
- By-Products of sulphate
By Application :
- Adhesives & sealants
- Paints & Coatings
- Surfactants
- Printing inks
- Perfumes, Fragrances, and Cosmetics
- Food Additives
- Others
By Type :
- Tall oil fatty acid
- Tall oil rosin
- Gum turpentine
- Gum rosin
- Pitch
By Process :
- Kraft
- Tapping
- Pulpmills
By Region :
- North America
- Latin America
- Europe
- Asia
- Oceania
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Key Questions Answered in the Report
What is the pine-derived chemical market’s current worth?
Currently pine-based chemicals market is worth more than USD 5.5 Bn.
At what CAGR is the market expected to grow?
The Pine-derived chemicals market is expected to grow at a rate of around 4.4% during the period 2022-2032.
How was the performance in the last five years?
In terms of revenue, pine-derived chemicals grew at a rate of around 3.8% during the historical period 2017-2021.
What are the key trends boosting these chemicals’ sales?
Growing environmental concerns, increasing demand from existing end-users, rising application of pine-derived chemicals, continuous innovation, and developments in the associated industries are the latest trends of chemicals being observed in the pine-derived chemicals market.
How are market players reacting to the new developments in the market?
Market players are opting for technological advancement, government collaborations, and going green practices in order to achieve sustainability.
Which are the major countries driving demand for pine-derived chemicals?
The US, Germany, UK, France, Italy, India, and China are the major countries driving demand for pine-based chemicals.
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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