The pine-derived chemicals market has been steadily expanding globally, and the trend is set to continue with a projected CAGR of 4.40% from 2024 to 2034. The market is worth USD 5,984 million in 2024 and is projected to surpass USD 8,617 million through 2034. The demand for these products is driven by various factors, such as the need for sustainable and eco-friendly alternatives to synthetic chemicals in various industries. Pine-derived chemicals, such as rosin and turpentine, are natural and renewable resources, making them a desirable option for environmentally conscious consumers.
With the increasing demand for these products, there is a corresponding increase in demand for pine-derived chemicals. The packaging and digital printing sectors are also witnessing mass development, which is expected to drive the growth of the bio-based chemicals sector. The natural properties of pine-derived chemicals make them an alluring choice for these industries.
Green chemistry practices that promote the design of chemical products and processes that reduce or eliminate the use and generation of hazardous substances are gaining popularity. Pine-derived chemicals are a natural and renewable resource that can be produced using green chemistry procedures, making them a more desirable option for environmentally conscious consumers and industries.
While strict regulations can affect the production and availability of these chemicals, the ongoing trend of sustainability and eco-friendly products is generating significant growth for pine-derived chemicals.
“Industries that heavily rely on adhesives, coatings, and sealants, such as construction and automobiles, are expected to remain the top application for pine-derived chemicals, making them an essential ingredient in producing various products. In coming years, these sectors are foreseen to expand broadly, making pine-derived chemicals a top product,” opines an analyst at FMI.
Key Takeaways from the Market Study
- Gum rosin in the pine-derived chemicals market to share boom to 44.7% in 2024.
- With a market share of 39.6% for 2024, demand for adhesives and sealants for various applications.
- The pine-derived chemicals market in India has the potential to increase 4.30 % CAGR through 2034.
- The pine-derived chemicals in China are projected to inflate at a CAGR of 3.70% through 2034.
- The pine-derived chemicals market in Germany is anticipated to develop at a CAGR of 3.20% through 2034.
- The pine-derived chemicals market in the United States is estimated to rise at a 2.70% CAGR through 2034.
- The pine-derived chemicals market in the United Kingdom is predicted to rise by a 2.50% CAGR through 2034.
Competitive Landscape
Growing trend for the usage of biodegradable products is opening opportunities for major manufacturers and retailers as consumers opt for them. With noteworthy opportunities from emerging nations and consumer preference trends, the market is set to pave way for big budgets. Major companies like Florachem, Eastman Chemical Company, Wuzhou Sun Shine Forestry and Chemicals Co. Ltd., Harima Chemicals Group, Inc., Guilin Songquan Forest Chemical, Arakawa Chemical Industries, and many more are expanding in the global pine-derived chemicals market.
Recent Developments:
- In 2023, pine trees were transformed into eco-friendly painkillers by researchers from the University of Bath.
- In 2020, fragrance company Firmenich acquired sustainable fragrance ingredients and industrial additives from French pine chemical firm DRT, in line with the trend towards environmentally friendly ingredients.
Market Segmentation
By Source:
- Living trees
- Dead pine stumps and logs
- By-products of sulphate
By Application:
- Adhesives and sealants
- Paints and Coatings
- Surfactants
- Printing inks
- Perfumes, Fragrances, and Cosmetics
- Food Additives
- Others
By Type:
- Tall oil fatty acid
- Tall oil rosin
- Gum turpentine
- Gum rosin
- Pitch
By Process:
- Kraft
- Tapping
- Pulp mills
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
About Future Market Insights (FMI):
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
