The global gum rosin industry is expected to witness an average CAGR of 4.7% from 2023 to 2033. The target market in this region will be worth US$ 2,460.2 million by 2033, risen from the estimated $1,554.2 million in 2023. The gum rosin market has historically grown at a sluggish 3.6% CAGR, reaching a value of US$ 1,483.7 million in 2022. Gu rosin’s rising use in paints, coatings, adhesives, paper, and inks bodes well for the gum rosin industry, as these items are in high demand.
Gum rosin is a solid resin made from pine chemicals found in pine trees and other plants. Gum rosin, commonly known as colophony, is made by heating fresh liquid resin and allowing the volatile liquid terpene compounds to evaporate. It is composed of pimaric and abietic acids, as well as some neutral compounds. Gum rosin is semi-transparent and comes in a variety of colors ranging from yellow to black.
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The rising employment of gum rosin in adhesives has a favorable impact on the market. Natural additives are becoming more popular in a variety of industry sectors. Gum rosin is also used in the automobile and construction industries because it is employed in the paints and coatings used in these industries. Other applications of gum rosin include its use as a glazing agent in chewing gum and medications, as a dispersion, and as an emulsifier in the synthetic rubber sector, which will drive global demand for gum rosin. Again, the strong friction-enhancing qualities of gum rosin will drive greater demand for the material in the future years.
Gum rosin has good physical and chemical qualities, allowing it to be used in the production of adhesives, printing inks, paper sizing agents, solders and fluxes, surface coatings, insulating materials, synthetic rubber, chewing gums, soaps and detergents. Gum rosin can also be used to avoid slippage on violin and other string instrument bows, dancing shoes, floors, and stages. All of these factors, as well as others, move the gum rosin market ahead in the international arena.
Key Takeaways:
- Availability of substitutes may hamper the growth prospects for the gum rosin market.
- Expansion of the adhesives and paints sector will open avenues of growth for the target market.
- The gum rosin market in China will register a CAGR of 5.3% and create an absolute dollar opportunity of US$ 648.0 million by 2033.
- Surging residential and commercial infrastructure projects will bolster the gum rosin market in India to grow at a CAGR of 5.7% during the assessment period.
- By product type, the WW-type segment will account for 38% of the market share in 2023 due to its extensive usage in paper sizing for maintaining textures and colors.
- In terms of application, the adhesive segment will continue to dominate the market.
Competitive Landscape
- Naval Overseas, Punjab Rosin and Chemicals Works, and Forestar Chemical Co., Ltd., among others, are a few of the key players in the gum rosin market profiled in the full version of the report.
In a highly fragmented environment, prominent market players are concentrating on the acquisition of smaller firms. The development of novel and sustainable products, and increasing research efforts to adopt new technologies for more eco-friendly manufacturing of gum rosin are some of the other strategies adopted by these businesses.
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More Insights Into Gum Rosin Market
FMI offers the latest, unbiased, and detailed analysis of the global gum rosin market, providing historical data from 2017 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on product type, application, and region.
According to the reports, based on segmentation, the WW-type of gum rosin will remain popular in the global market due to its rising usage in paper sizing. Based on application, the adhesive category will continue to dominate the market with a share of 28%. Rising demand for adhesives from the automotive sector will push the segment to expand at a CAGR of 5.9% between 2023 and 2033.
Based on region, the gum rosin market in India will exhibit impressive growth during this period. The target market in this country will grow at a CAGR of 5.7%. Factors like the elevated application of gum rosin in adhesives and its consequent usage in residential and commercial infrastructure projects will foster the growth of the market in India. Besides India, China too will present notable growth in the gum rosin market. Thus, India and China will significantly contribute to the growth of the gum rosin market during the projection period.
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