The pine-derived chemicals market valued USD 5.06 Billion and is projected to reach USD 6.55 Billion by 2027, at a CAGR of 5.3 % from 2020 to 2027.Pine chemicals is a family of renewable, naturally occurring materials derived from the pine tree (genus Pinus). These chemicals are derived through the distillation of oleoresin or carbonization of wood. A majority of distilled products are made from gum, stumps, logs, and sulfate pulp by products.
During the papermaking process, chemicals from pine tree are recovered as co-products of the pulping process in the form of crude tall oil (CTO) and crude sulfate turpentine (CST). Oleoresin can also be recovered from pine trees. It is separated into gum rosin (GR) and gum turpentine (GT).Pine Derived Chemicals Market size is mainly driven by the increasing demand of the products in adhesive, paints & coatings, construction and healthcare sectors. Increasing focus towards natural and eco-friendly products, which has resulted in low CO2 emissions. may fuel product demand. Tall oil rosins have positive application scope in the construction industry. These products are used as binder in cement, pavement marking and various other applications owing to durability, compressive strength and resistance to adverse weather conditions properties. Rapid industrialization and growing population will enhance the construction industry size and stimulate pine derived chemicals market size.
Tall oil fatty acid (TOFA) may drive the pine derived chemicals market size owing to its strong application outlook in paints & coatings industry. These products are used in alkyd formulations to control hardness and cure rate. Global paints & coatings market may exceed USD XX billion by 2027, with gains at over XX %. TOFA derivatives include alkyds, dimers, synthetic lubricants and oilfield chemicals may drive the paints & coatings industry due to its air drying and color stability properties.
Increasing application scope in adhesives & sealants industry should drive pine derived chemicals market size. Global adhesives and sealant market is likely to reach over USD XX billion by 2025, and may register gains at over XX %. Gum rosin, produced from oleoresin of trees is used to enhance adhesives viscosity, plasticity and strength. Gum based adhesives are used for hot melt applications which promotes adhesion of hot melt adhesives for flooring, and packaging products.
The global pine-derived chemicals market is dominated by large-sized players. Presence of several large-sized players makes the market highly competitive. Key players operating in the market are Eastman Chemical Company, Harima Chemicals Group, Inc., Arakawa Chemical Industries, Ltd., Kraton Corporation, and ForchemOyj.
Based on region, the global pine-derived chemicals market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of both value and volume, Asia Pacific was a leading region of the global pine-derived chemicals market in 2019. The region is estimated to continue its dominance throughout the forecast period. The market in the region is anticipated to expand at a rapid pace during the forecast period, due to increase in urbanization, growth in the disposable income of consumers, and advancements in technology. In terms of consumption, Europe and North America follow Asia Pacific.
During the papermaking process, chemicals from pine tree are recovered as co-products of the pulping process in the form of crude tall oil (CTO) and crude sulfate turpentine (CST). Oleoresin can also be recovered from pine trees. It is separated into gum rosin (GR) and gum turpentine (GT).Pine Derived Chemicals Market size is mainly driven by the increasing demand of the products in adhesive, paints & coatings, construction and healthcare sectors. Increasing focus towards natural and eco-friendly products, which has resulted in low CO2 emissions. may fuel product demand. Tall oil rosins have positive application scope in the construction industry. These products are used as binder in cement, pavement marking and various other applications owing to durability, compressive strength and resistance to adverse weather conditions properties. Rapid industrialization and growing population will enhance the construction industry size and stimulate pine derived chemicals market size.
Tall oil fatty acid (TOFA) may drive the pine derived chemicals market size owing to its strong application outlook in paints & coatings industry. These products are used in alkyd formulations to control hardness and cure rate. Global paints & coatings market may exceed USD XX billion by 2027, with gains at over XX %. TOFA derivatives include alkyds, dimers, synthetic lubricants and oilfield chemicals may drive the paints & coatings industry due to its air drying and color stability properties.
Increasing application scope in adhesives & sealants industry should drive pine derived chemicals market size. Global adhesives and sealant market is likely to reach over USD XX billion by 2025, and may register gains at over XX %. Gum rosin, produced from oleoresin of trees is used to enhance adhesives viscosity, plasticity and strength. Gum based adhesives are used for hot melt applications which promotes adhesion of hot melt adhesives for flooring, and packaging products.
The global pine-derived chemicals market is dominated by large-sized players. Presence of several large-sized players makes the market highly competitive. Key players operating in the market are Eastman Chemical Company, Harima Chemicals Group, Inc., Arakawa Chemical Industries, Ltd., Kraton Corporation, and ForchemOyj.
Based on region, the global pine-derived chemicals market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of both value and volume, Asia Pacific was a leading region of the global pine-derived chemicals market in 2019. The region is estimated to continue its dominance throughout the forecast period. The market in the region is anticipated to expand at a rapid pace during the forecast period, due to increase in urbanization, growth in the disposable income of consumers, and advancements in technology. In terms of consumption, Europe and North America follow Asia Pacific.
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