Gum Rosin Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Gum Rosin Market was worth US$ 1,732.1 Mn and is expected to grow at a CAGR of 4.3% over the forecast period. The market is expected to hit US$ 2,638.9 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 3.1%, the market underwent significant growth.
Bio-based materials, such as Gum Rosin, are mainly drawn from renewable energy sources. Gum Rosin, in particular, is derived from pine chemicals obtained from pine trees using the pine tapping process. There are numerous advantages of using bio-based materials instead of synthetic or petrochemical-based materials. Due to the stable supply of bio-based sources, price fluctuations are low compared to petrochemical-based materials.
THE GROWTH IN THE BIO-MATERIALS IN VARIOUS INDUSTRIES
The end-user industries are the prime driving factor for the growth of the global Gum Rosin market. Various types of Gum Rosin are used in different applications, such as paints and coatings, printing inks, textile printing inks, and adhesives.
Gum Rosin is a fundamental component in paints or decorative paints since it readily dissolves in alcohol, gasoline, etc. The increasing demand for the construction and automotive industries is why the paints and coatings sector is always expanding. The printing ink and paper industries’ rising need for gum rosin will propel the market for this product over the forecast period.
PRICE FLUCTUATION FOR RAW MATERIAL IMPACT MARKET GROWTH
The development of gum rosin-based ink is expected to have some important critical factors. Better execution capacities of tall oil gum and financial advantages of oil gum over gum rosin are considered the significant challenge in the Gum Rosin Market. Gum rosin-based pitch is broadly utilized in assembling offset printing inks due to its active compound and actual properties. Nonetheless, the other result acquired in the Kraft pulping measure by refining tall rough oil is tall oil rosin. The corrosive rosin substance in the tall oil rosin makes the gum produced using it particularly important to the ink producer.
AS AN ALTERNATIVE FOR AUTOMOBILE ACCESSORIES
The Gum Rosin market is expected to be one of the most sophisticated industrial markets in the coming decades. The demand for this product has constantly been growing because it is a reliable and economical alternative to other similar options in the professional automotive industry. Rising demand for gum rosin has been triggered by its use as an additive in paints and varnishes, body-care products, food industry products, and others. The rising usage of gum rosin is expected to create an opportunity for market growth in the forecast period.
Market Segments Covered in Report
By Product Type
By Region and Country:
Why is the WW segment projected to boost market growth during the forecast period?
A major part of the growth of the adhesive market will be on account of increasing penetration in paper sizing for maintaining colors and textures. There is a rising obligation for superior quality binding materials across the adhesives sector. WW gum rosin is a natural transparent, organic solid compound that is a light shade of yellow. It has immense utility in synthetic rubber and adhesives to offer high performance and quality. The rising adoption of soap, paint, printing, and paper products will also increase the segment’s growth.
Why is the Adhesives segment expected to expand the fastest during the forecast period?
The Gum Rosin industry is based on the raw materials used to manufacture adhesives. An increase in demand for natural ingredients-based bonds will positively impact the global Gum Rosin market. The growing furniture and rubber industries are other factors that will drive the growth of the adhesives market during the forecast period. Furthermore, increasing demand for packaging materials will boost the global Gum Rosin market.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
These prominent firms have seen impressive growth in capacity expansion, product launch, and marketing team-up initiatives. The most notable players focus on global presence to beef up their reach.
A list of some of the key suppliers present in the market are:
Global Gum Rosin Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
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In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.3%.
Significant industry growth drivers are technological advancements that modify pine trees and the rising number of R&D investments for higher product extraction output.
Major global Gum Rosin Market players are Deqing Jiyuan Synthetic Resin Co., Ltd., Wuzhou Pine Chemicals Ltd., and PT. Naval Overseas, Wuzhou Sun Shine Forestry & Chemicals CO., ltd., Punjab Rosin and Chemicals Works, Forestar Chemical Co., Ltd., Deqing Yinlong Industrial Co., Ltd., Resin Chemicals Co., Ltd, GUILIN SONGQUAN FOREST CHEMICAL CO., LTD., CV. INDONESIA PINUS, Vinhconship Group, and EURO-YSER.
The straightforwardness and openness of petrol sap may limit the growth of the gum rosin market during the anticipated period.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Gum Rosin market.
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