Global sales of gum rosin market were valued at 757.9 KT in 2018 and are estimated to grow at an impressive rate in 2019, as per the latest research study by FMI. Incessant demand for bio-based materials from multiple end-use industries is among the key factors fuelling investments in gum rosins.
As per the FMI analysis, broader factors, such as resurgence in economies and increasing disposable income, have levied pressure on multiple end-use industries for boosting their production capabilities with no compromise in terms of quality.
Ever-evolving demand for high-performance intermediates, including adhesives, coatings, and rubber, from multiple industrial verticals is accelerating the growth of gum rosin market.
Multifarious benefits and low price fluctuations are boosting the adoption of bio-based materials, including gum rosins. This, in turn, is likely to create favorable grounds for growth of gum rosin market during the forecast timeline.
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According to the FMI research study, manufacturers are eyeing emerging economies brimming with opportunities for gum rosins on account of hefty investments in the production of pine chemicals.
Moreover, in Asian & African countries, the process of extraction and distillation of pine chemicals is relatively economical, creating profit-making opportunities for the manufacturers of gum rosins. According to the FMI analysis, end-users will prefer WW grade of gum rosins over other types, with global sales estimated to surpass 300 KT in 2019.
High consumer propensity for WW grade of gum rosins can be attributed to its superlative quality and workability in case of core applications such as synthetic rubber and adhesives. WG grade is likely to trail the former on account of surging demand for binding materials of superior quality.
The report finds that demand for gum rosins will continue to remain buoyant in printing ink and adhesive applications, with global sales collectively exceeding 400 KT collectively in 2019. The demand for gum rosins as a base material in case of printing inks and adhesives remains unabated, driving revenue growth of the gum rosin market.
The demand for gum rosins in paints & coatings is foreseen to significantly take off and not likely to slow down anytime soon, finds the report. The manufacturers of gum rosins are focusing on novel production technologies facilitating higher production yields of optimal quality while curbing the environmental footprint.
Subsequently, manufacturers operating in the gum rosin market are resorting to advanced analytical processes, such as gas chromatography and mass spectrometry, for production of high-quality gum rosins.
East Asia will retain its lucrativeness for the manufactures of gum rosins, with China spearheading demand. China has been a key producer as well as consumer of gum rosins, driven by incessant growth of application-based industries in the region, such as printing inks, synthetic rubber, adhesives, and paper sizing.
Large gum rosin manufacturing bases across countries such as Indonesia, China, and Brazil are participating in high-volume exports to other countries, which is a key aspect assisting expansion of gum rosin market in these regions.
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As per the FMI study, notable R&D investments are being made by leading participants of the gum rosin market for achieving high production volumes and enhanced ROI benefits. Multiple research activities and initiatives are underway for introducing genetic modifications in the pine trees.
Which would enable increased flow of resins in the trees. Such innovative and advanced approaches are anticipated to fuel seamless production of high quality gum rosins, projecting an optimistic outlook for gum rosin market over the forecast timeline.
Gum Rosin Market – Competition Landscape
The global Gum Rosin market is a fragmented market and most major market participants held single digit market share in 2017. The top ten to twelve players in the global Gum Rosin market collectively hold between 30% and 35% market share.
Some of the leading manufacturers studied under this study on the global Gum Rosin 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 and EURO-YSER.
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Gum Rosin Market: Segmentation
Product Type
- WW
- WG
- N
- X
- Others
Application
- Paper
- Paints & Coatings
- Soap
- Printing Ink
- Adhesives
- Rubber
- Others
Growing Demand from Adhesives Application to Boost Market Growth
In adhesives, Gum Rosin is used as a raw material to enhance softness, strength and adhesion of adhesives. Adhesives are used in the manufacturing of furniture and rubber boots as well as in bookbinding and packaging industries.
Growing demand for furniture and growing rubber industry are important factors that will drive the growth of adhesives market in the years to come, which in turn, will indirectly positively impact the global Gum Rosin market. Additionally, the packaging industry is expected to witness healthy growth in future, which may increase the demand for adhesives in the global market.
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The adhesives market is continuously growing at a significant rate and the demand for natural ingredients based adhesives is expected to increase further in near future. This will further push the growth of the Gum Rosin market during the forecast period.
The adhesives segment will drive the global Gum Rosin market and is projected to create absolute dollar opportunity worth US$ 249.2 Mn during the forecast period
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