Gum Rosin Market

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.

Market Dynamic

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

• WW
• WG
• N
• X
• Others

By Application

• Paper
• Paints & Coatings
• Soap
• Printing Ink
• Adhesives
• Rubber
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The Asia Pacific had a market share of 73.4 % in 2021. The Asia Pacific is expected to lead the demand for synthetic Camphor in the market during the forecast period
• The Asia Pacific will hold a significant gum rosin industry share driven by the increasing automotive production in the region. The surging number of government investments has stirred the rise in construction projects in the country. This has, in turn, complimented the expansion of the adhesives, printing inks, and paper sizing sectors. The rising advancements in synthetic rubber and paint & coating verticals have increased the acceptance of gum rosin.

Competition Analysis

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:

• Wuzhou Pine Chemicals Ltd.
• PT. Naval Overseas
• Wuzhou Sun Shine Forestry & Chemicals CO., ltd.
•  Punjab Rosin and Chemicals Works
•  Forestar Chemical Co., Ltd.
•  Deqing Jiyuan Synthetic Resin Co., Ltd.
•  Deqing Yinlong Industrial Co., Ltd.
•  Resin Chemicals Co., Ltd,
•  GUILIN SONGQUAN FOREST CHEMICAL CO.
•  LTD., CV. INDONESIA PINUS
•  Vinhconship Group
•  EURO-YSER.

Global Gum Rosin Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies