Pine Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Pine Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global pine chemicals market size reached US$ 5.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.96% during 2023-2028.

Pine chemicals are obtained from pine trees using the distillation of wood. They help improve product performance, reduce greenhouse gas emissions, and increase the reuse of materials. As a result, they are widely used in inks, adhesives, perfumes, flavors of fizzy beverages and different food products, paints, fragrances of soaps and home cleaners, food additives, and automobile tires. At present, there is a rise in the utilization of pine chemicals in gum rosin, which further finds application as a concrete frothing agent and floor tiling, heat melt ingredient, pressure-sensitive, and rubber adhesives across the globe.

Pine Chemicals Market Trends:
The growing employment of pine chemicals in the mining industry to increase the productivity and efficiency of mining processes, such as extraction and recovery of minerals from ores, represents one of the key factors driving the market. Moreover, there is a rise in the applications of lubricants as antiwear, antioxidants and antifoaming agents, demulsifying and emulsifying agents, and rust and corrosion inhibitors. This, along with the increasing usage of pine chemicals in the flavors and fragrances industry across the globe, is propelling the growth of the market. In addition, extensive use of crude oil and natural gas products is resulting in the growing pollution around the world. As a result, there is a need to minimize fossil fuel consumption and reduce carbon dioxide (CO2) emissions, which in turn, is offering lucrative growth opportunities to the end users and investors. Furthermore, key market players are focusing on partnerships, collaborations, and agreements to improve product quality. These players are also focusing on product launches and expansions. Other growth-inducing factors are improvements in the production side, technological advancements, and rapid urbanization.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pine chemicals market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, source and application.

Breakup by Product Type:

Tall Oil
Rosin
Turpentine
Others

Breakup by Source:

Pine Trunks
Aged Pine Stumps
Kraft Pulp

Breakup by Application:

Adhesives and Coatings
Solvents and Disinfectants
Printing Ink
Synthetic Rubber
Flavors and Fragrances
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arakawa Chemical Industries Ltd, Arboris LLC, DRT (Firmenich SA), Eastman Chemical Company, Forchem Oyj, Harima Chemicals Group Inc., Ingevity Corporation, Kraton Corporation, OOO Torgoviy Dom Lesokhimik and SunPine AB.

Key Questions Answered in This Report

1. What was the size of the global pine chemicals market in 2022?
2. What is the expected growth rate of the global pine chemicals market during 2023-2028?
3. What are the key factors driving the global pine chemicals market?
4. What has been the impact of COVID-19 on the global pine chemicals market?
5. What is the breakup of the global pine chemicals market based on the product type?
6. What is the breakup of the global pine chemicals market based on the application?
7. What are the key regions in the global pine chemicals market?
8. Who are the key players/companies in the global pine chemicals market?