The pine-derived chemicals market has been steadily expanding globally, and the trend is set to continue with a projected CAGR of 4.40% from 2024 to 2034. The market is worth US$ 5,984 million in 2024 and is projected to surpass US$ 8,617 million through 2034. The demand for these products is driven by various factors, such as the need for sustainable and eco-friendly alternatives to synthetic chemicals in various industries. Pine-derived chemicals, such as rosin and turpentine, are natural and renewable resources, making them a desirable option for environmentally conscious consumers.
With the increasing demand for these products, there is a corresponding increase in demand for pine-derived chemicals. The packaging and digital printing sectors are also witnessing mass development, which is expected to drive the growth of the bio-based chemicals sector. The natural properties of pine-derived chemicals make them an alluring choice for these industries.
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Green chemistry practices that promote the design of chemical products and processes that reduce or eliminate the use and generation of hazardous substances are gaining popularity. Pine-derived chemicals are a natural and renewable resource that can be produced using green chemistry procedures, making them a more desirable option for environmentally conscious consumers and industries.
While strict regulations can affect the production and availability of these chemicals, the ongoing trend of sustainability and eco-friendly products is generating significant growth for pine-derived chemicals.
“Industries that heavily rely on adhesives, coatings, and sealants, such as construction and automobiles, are expected to remain the top application for pine-derived chemicals, making them an essential ingredient in producing various products. In coming years, these sectors are foreseen to expand broadly, making pine-derived chemicals a top product,” opines an analyst at FMI.
Key Takeaways from the Market Study
- Gum rosin in the pine-derived chemicals market to share boom to 44.7% in 2024.
- With a market share of 39.6% for 2024, demand for adhesives and sealants for various applications.
- The pine-derived chemicals market in India has the potential to increase 4.30 % CAGR through 2034.
- The pine-derived chemicals in China are projected to inflate at a CAGR of 3.70% through 2034.
- The pine-derived chemicals market in Germany is anticipated to develop at a CAGR of 3.20% through 2034.
- The pine-derived chemicals market in the United States is estimated to rise at a 2.70% CAGR through 2034.
- The pine-derived chemicals market in the United Kingdom is predicted to rise by a 2.50% CAGR through 2034.
Competitive Landscape
Growing trend for the usage of biodegradable products is opening opportunities for major manufacturers and retailers as consumers opt for them. With noteworthy opportunities from emerging nations and consumer preference trends, the market is set to pave way for big budgets. Major companies like Florachem, Eastman Chemical Company, Wuzhou Sun Shine Forestry and Chemicals Co. Ltd., Harima Chemicals Group, Inc., Guilin Songquan Forest Chemical, Arakawa Chemical Industries, and many more are expanding in the global pine-derived chemicals market.
Recent Developments:
- In 2023, pine trees were transformed into eco-friendly painkillers by researchers from the University of Bath.
- In 2020, fragrance company Firmenich acquired sustainable fragrance ingredients and industrial additives from French pine chemical firm DRT, in line with the trend towards environmentally friendly ingredients.
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Market Segmentation
By Source:
- Living trees
- Dead pine stumps and logs
- By-products of sulphate
By Application:
- Adhesives and sealants
- Paints and 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
- Pulp mills
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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