Pine-derived Chemicals Market Analysis - New Opportunities Explored, High CAGR & ROI Anticipated Till 2026: Radiant Insights, Inc.

Pine-derived Chemicals Market Analysis - New Opportunities Explored, High CAGR & ROI Anticipated Till 2026: Radiant Insights, Inc.

PR Newswire

SAN FRANCISCO, March 25, 2020

SAN FRANCISCO, March 25, 2020 /PRNewswire/ -- The global Pine-Derived Chemicals Market was valued at 3951.53 million USD in 2017 and is anticipated to grow at a lucrative rate over the forecast period. This chemical is naturally derived from pine trees and has found an enormous application in the development of soaps & detergents, printing inks, plasticizers, fragrance chemicals, adhesives, resins, and surface coatings, among the others in the conventional market, these are also famous in healthcare, construction and adhesive manufacturing industry, etc. The pine chemicals derived as a by-product of sulfate pulping process include rosin, turpentine, tall oil, resin, etc., or from gums, Kraft pulp, and stumps. Major chemicals like turpentine, tall oil fatty acids (TOFA) and resin acids.

Drivers:

The market of pine-derived chemicals is predominantly driven by its extensive use in construction, printing and publishing, cleaning products, paper, and a variety of other industrial activity. It is used in the synthesis of antitumoral Taxol which is used in the preparation of flavor mixtures like strawberry, Rosmarinus, dill, raspberry, and spearmint. Furthermore, the market's growing application in the production of plasticizers, pharmaceuticals, solvents, repellents, insecticides, antimicrobial and antiviral compounds, perfumery, and toiletries has widened its functional scope.

Restrains:

Owing to the capital-intensive nature of the market, direct manufacturing employment is modest, which includes repairing operators, plant operators, supervisors, trade & craft workers, and other related occupations. Opportunities for the abovementioned group of people are also restrained by the increasing automation in manufacturing processes. Automation has significantly driven the throughput and has been regarded as a key contributor to improved productivity. However, due to the gradual shift towards technology-centric operations, the industry employs chemists, scientists, chemical engineers, technicians, sales & management staff, IT professionals, and other technical support personnel.

Segmentation:

Based on product type, the pine-derived chemicals market has been segmented into gum turpentine (GT), tall oil fatty acid (TOFA), gum rosin (GR), tall oil rosin (TOR), and others. Based on application type, the market segmentation includes printing inks, adhesives & sealants, surfactants, paints & coatings, and others. Paint & coating is the most notable industry as pine chemicals are widely used as curing additives and alkyd paints. Adhesives and sealants signify yet another key end-use application as pine chemicals are being extensively used in construction adhesive tackifiers tape, non-wovens, bookbinding, electronics, and can-end sealants. These have also found application in the production of chemical additives, including fuel, lubricants, metalworking, and other additives; PVC stabilizers and plasticizers; fragrances and flavors; food additives; seed coatings; cosmetic additives; and other specialties. Pine chemical called ethoxylates is used as a surfactant in detergent.

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Regional Lookout

Geographically, the market of pine-derived chemicals has been segmented into Pine trees are usually found in regions like North America, Latin America, Asia. China, the USA, Europe, Japan, Korea, India, Southeast Asia, and South America have been identified as the key countries. North America has been dominating the overall market over the past few years. The U.S. has a large number of pine tree plantations and it, therefore, accounts for the largest share. The market is Asia Pacific is driven by the growing awareness about environment friendly products and significant attempts to minimize the global carbon footprint.

Competitive Landscape:

The top key players operating in the pine-derived chemicals market comprise of Guilin Songquan Forest Chemical, WestRock (MeadWestvaco), Kraton Company (Arizona Chemical Company), Ingevity Corporation, Forchem, Harima Chemicals, Eastman Chemical, Mentha & Allied Products, Florachem, Arakawa Chemical Industries, Georgia-Pacific Chemicals, Wuzhou Sun Shine Forestry and Chemicals, DRT, and Foreverest Resources.

The global Pine-derived Chemicals market was valued at 3951.53 Million USD in 2017 and will reach 4671.72 Million USD by the end of 2022, growing at a CAGR of 3.41% during 2017-2022.

Pine-derived chemicals are chemicals derived from pine tree. Generally, they include tall oil fatty acid (TOFA), tall oil rosin (TOR), gum turpentine (GT), gum rosin (GR) and others (sterols, pitch, CST and its derivatives).

Pine-derived Chemicals can be divided into five categories: Gum Rosin (GR) type, Tall Oil Fatty Acid (TOFA) type, Tall Oil Rosin (TOR) type, Gum Turpentine (GT) type and other type. Gum Rosin (GR) type accounted for the highest proportion in production market, with a figure of 41.83% in 2016, followed by Tall Oil Fatty Acid (TOFA) type, account for 18.34% and Tall Oil Rosin (TOR) type account for 17.60%.

Access 114 page research report with TOC on "Global Pine-derived Chemicals Market" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/global-pine-derived-chemicals-market-2020-2026

Market Segmentation:

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