Pine Derived Chemicals Market Opportunities, Business Forecast To 2028
The global pine-derived chemicals market was valued at USD 5.14 billion in 2021, It is growing at a CAGR of 4.2% during the forecast period 2022-2028. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on the research report “Pine Derived Chemicals Market: By Chemical Type (Tall Oil Fatty Acids, Tall Oil Rosin, Sterols, Pitch, Others), By Application (Paints & Coatings, Adhesives & Sealants, Surfactants, Printing Inks, Others), and Geography- Global/Region/Country Forecast to 2028
An overview on the Global Pine-Derived Chemicals Market
There is growing demand from different industries for pine derived chemicals because of its versatility. Pine chemicals are used to a larger extent in the industries such as printing inks, paints & coatings, surfactants and adhesives & sealants. Pine chemicals is most employed for paints & coatings and is estimated to lead in terms of market revenue due to the growing consciousness of customers regarding the product, rising development, increase in the environmental rules and use of pine chemicals in bulky amount. Pine chemicals are the primogenital sector of the chemical industry and renewable and naturally occurring material from pine tree. A huge number of industries buy products and services from pine chemical which contributes greatly to driving the demand for pine chemicals. Another prominent industry where pine chemicals are used as curing additives and in alkyd paints is the paint and coatings. In addition, pine chemicals are also used in flexography and lithography as surfactants for detergents mainly ethoxylates ink binders for packaging, plastic bags and magazines. All these factors greatly contribute towards the market growth. But, the limited availability of pine chemicals around the globe is one of the major constraints of market growth.
North America emerged to be the leader in the Global Pine Derived Chemicals Market
Global pine derived chemicals market report aims at providing complete outlook on pine derived chemicals across the globe with special focus on major regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these regions, North America witnessed leading position in the global pine derived chemicals market. Canada dominated the regional market share followed by U.S. Another factor that enhances the market growth in this region is the presence of huge number of pine trees in the region. Asia Pacific is also anticipated to exhibit a considerable CAGR rate during the forthcoming years because of the increase in the buying power of the customers. Rising countries such as South Korea, China, India and Japan registered a prominent growth in the region. Europe Pine derived chemicals market exhibits a stifle growth because of the unavailability of pine trees in this region.
Major players working in the global pine derived chemicals market are MeadWestvaco Corporation, Arizona Chemical Company, LLC, Georgia-Pacific Chemicals, LLC, Arakawa Chemical Industries, Ltd and Derives Resiniques ET Terpeniqes (DRT).
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