Latin America Pine Derived Chemicals Market

Latin America Pine Derived Chemicals Market Size-(2023-2028):

Latin America Pine Derived Chemicals Market was worth USD 1.32 billion in 2022 and is expected to grow at a CAGR of 5.18%, reaching USD 2.81 billion by 2028.

Pine Chemicals are renewable and naturally occurring materials derived from pine trees. Resins derived from pines were used for adhesion purposes in construction in the past. Pine tars and pitches are used for weatherproofing wooden hulls and rigging sailing and other vessels. Tall oil, turpentine, rosin, and several fatty acids are other types of pine chemicals.

The use of pine chemicals is essential in adhesives and sealants, paints and coatings, printing inks, and other chemical additives which in turn are used in various fields such as cleaning products, printing and publishing, construction, and in some other industries. These chemicals are derived from the carbonization of wood or distillation. Acidification, solvent extraction, and fractional distillation are often used for refining and purifying various pine chemicals.

Increasing emphasis on reducing carbon dioxide emissions and reducing the use of fossil fuels increased the demand for naturally occurring chemicals. The use of pine-derived chemicals is environmentally friendly as it is derived naturally from pine trees. Hence, the market for pine-derived chemicals is expected to grow steadily with an increase in awareness among various nations regarding the benefits of using pine-derived chemicals. However, pine trees are not abundantly available on all continents and the availability of alternatives is expected to restrain the market growth.

Latin America Pine Derived Chemicals Market Market Segmentation:

Based on Type

• Tall Oil Fatty Acids

• Tall Oil Rosin

• Gum Turpentine

• Gum Rosin

• Pitch

• Sterols

• Others

Tall Oil Fatty Acids are the largest market segment due to their applications in the paints and coatings industry.

Based on Application:

• Paints

• Coatings

• Adhesives

• Sealants

• Surfactants

• Printing Inks.

Adhesives and sealants are expected to lead the market in this segment due to the enhanced viscosity, strength, and plasticity of adhesives by using gum rosins. Printing inks are expected to grow rapidly due to the increasing adoption of environment-friendly inks.

Based on Source:

• Living Trees

• Dead Pine Stumps

The market is categorized into Kraft Process and Tapping. The tapping process leads the market in this segment due to its cost-effectiveness and also this process does not damage the wood.

Based on Geography:

• Brazil

• Argentina

• Mexico

Brazil leads the pine-derived chemicals market due to increasing awareness among consumers.

Major Key Players Involved in Latin America Pine Derived Chemicals Market:

1. Eastman Chemical Company

2. Harima Chemicals Group

3. Renessenz

4. MeadWestvaco Corporation

5. Arakawa Chemical Industries

6. DRT

7. Arizona Chemical Company

8. Georgia-Pacific Chemicals

9. Foreverest Resources

10. Mentha & Allied Products