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TOKYO, Nov. 21, 2022 (GLOBE NEWSWIRE) -- The Global pine derived chemicals market Size accounted for USD 5.4 Billion in 2021 and is projected to occupy a market size of USD 8.1 Billion by 2030 growing at a CAGR of 4.7% from 2022 to 2030.
Pine Derived Chemicals Market Statistics
Global pine derived chemicals market value was USD 5.4 Billion in 2021 and expected to grow at CAGR of 4.7% from 2022 to 2030 Asia-Pacific pine derived chemicals market revenue over 33% market share in 2021 Asia-Pacific pine derived chemicals market growth will register notable CAGR from 2022 to 2030 Among type, gum rosin accounted over 40% of the shares in 2021 Based on application, paints & coatings gathered over 35% of the total market share Increasing usage of biodegradable products is a global pine derived chemicals market trend fueling the industry demand
Pine Derived Chemicals Market Growth Factors
Rising adoption of environmentally-friendly products Growing construction activities in Asia-Pacific Surging application of these chemicals in various industries
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Pine Derived Chemicals Market Report Coverage:
| Market || Pine Derived Chemicals Market |
| Pine Derived Chemicals Market Size 2021 || USD 5.4 Billion |
| Pine Derived Chemicals Market Devices Market Forecast 2030 || USD 8.1 Billion |
| Pine Derived Chemicals Market CAGR During 2022 - 2030 || 4.7% || |
| Pine Derived Chemicals Market Analysis Period || 2018 - 2030 |
| Pine Derived Chemicals Market Base Year || 2021 || |
| Pine Derived Chemicals Market Forecast Data || 2022 - 2030 |
| Segments Covered || By Type, By Application, By Process, And By Geography |
| Pine Derived Chemicals Market Regional Scope || North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled || Florachem, Eastman Chemical Company, Wuzhou Sun Shine Forestry and Chemicals Co. Ltd., Harima Chemicals Group, Inc., Guilin Songquan Forest Chemical, Arakawa Chemical Industries, Ltd., Foreverest Resources Ltd., Kraton Corporation, Ingevity Corporation, and ForchemOyj. |
| Report Coverage |
| Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Pine Derived Chemicals Market Dynamics
The market for pine-derived chemicals promotes the use of renewable energy sources. It also supports policies involving biomass or inexhaustible resources. Actions are being taken to increase the use of renewable energy sources, which may include consuming biomass to provide energy. The ranger service sector can be an important source of biomass. The state and government approaches to biomass or sustainable assets, for example, consuming biomass rather than utilizing it in the production of pine-determined synthetics, are having a negative impact on the pine science industry. Because of the consumption of biomass, pine-determined concoction assets are likely to be discarded as sustainable assets, which may have an impact on the bio refining manufacturing infrastructure in the United States in the coming years. Government incentives that encourage the use of biomass for bioenergy deplete the supply of these vital materials and prevent players in the pine-derived chemicals market from utilizing eco-friendly co-products obtained from papermaking.
In the United States, policies are being proposed that would require scorching of papermaking co-products used as inexhaustible biomass. This could prompt evaluation characteristics that encourage the consumption of these co-products for vitality, rather than allowing the current pine derived chemicals market to upgrade these products and utilise the sustainable assets. Government motivating forces may jeopardise the suitability of the pine-determined synthetic compounds market, as they may tip the balance in favour of bio-based vitality. As a result, it is necessary to maintain a balance between monetary challenge and government impetus.
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Pine Derived Chemicals Market Segmentation
The global pine derived chemicals market has been classified into type, application, process, and region. Based on type, the global pine derived chemicals market are segregated into tall oil fatty acids (TOFA), tall oil rosin (TOR), gum turpentine (GT), gum rosin (GR), sterols, and others (including pitch, crude sulfate turpentine [CST], distilled tall oil [DTO], wood rosin, and wood turpentine). On the basis of application, the market is segregated into printing inks, paints & coatings, surfactants, adhesives & sealants, and others (food additives, cosmetics, and seed coatings). Based on process, the market is bifurcated into kraft process and tapping process. On the basis of region the global pine derived chemicals market is bifurcated into North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa.
Pine Derived Chemicals Market Share
Paints and coatings application seized a sizable market share from 2022 to 2030, based on the pine derived chemicals market forecast. According to an industry analysis of pine derived chemicals, the tapping process occupied a significant market share in 2021 and is expected to continue in the coming years.
TORs are unmodified in order to provide a cost-effective and adaptable starting point for a few end-use applications and client-specific procedures. Tall oil unsaturated fats are another important market segment. Dimer acids, oilfield chemical substances, alkyd tars, metalworking liquids, fluid cleaners, fuel added substances, material chemical concoctions, metallic stabilizers, development chemicals, and greasy subordinates are all made from these acids. Gum turpentine and gum rosin sections are expected to grow at a rapid pace in the coming years. In 2021, the sterols segment held a relatively minor share of the global market.
Pine Derived Chemicals Market Regional Growth
The global market for pine-derived chemical substances has been divided into North America, Europe, the Middle East and Africa, Asia-Pacific, and Latin America. In terms of both value and volume, Asia Pacific was a major region of the global pine-derived chemicals market in 2021. The district is expected to maintain its strength throughout the gauge time frame. The market in the area is expected to expand rapidly over the next few years as a result of increased urbanization, growth in customer disposable income, and technological advancements.
Europe and North America trail Asia Pacific in terms of consumption. The market in Europe and North America is expected to grow rapidly between 2022 and 2030, owing to the abundance of pine trees in these regions. In terms of demand, Latin America, the Middle East, and Africa established moderately low global market offers in 2021. In any case, the Latin American market is expected to expand at a rapid pace during the forecast period, owing to the region's easy access to pine trees.
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Pine Derived Chemicals Market Players
The leading companies in the global pine derived chemical market are Arakawa Chemical Industries, Ltd., Eastman Chemical Company, Florachem, Foreverest Resources Ltd., ForchemOyj, Guilin Songquan Forest Chemical, Harima Chemicals Group, Inc., Ingevity Corporation, Kraton Corporation, and Wuzhou Sun Shine Forestry and Chemicals Co. Ltd.
Questions Answered By This Report
What was the market size of Pine Derived Chemicals Market in 2021? What will be the CAGR of Pine Derived Chemicals Market during the forecast period from 2022 to 2030? Who are the major players in Global Pine Derived Chemicals Market? Which region held the largest share in Pine Derived Chemicals Market in 2021? What are the key market drivers of Pine Derived Chemicals Market? Who is the largest end user Pine Derived Chemicals Market? What will be the Pine Derived Chemicals Market value in 2030?
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