Pine Derived Chemicals Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Pine Derived Chemicals Market is estimated to be USD 4.73 billion in 2018 and predicted to rise to USD 5.92 billion by 2023 with a CAGR of 4.6%. The market is segmented by Type (TOFA, TOR, Gum Turpentine, Gum Rosin, Pitch, Sterols), by Application (Paints and Coatings, Adhesives and Sealants, Surfactants, Printing Inks), by Source (Living Trees, Dead Pine Stumps and by products of sulphate pulping) and by Processes (Kraft Process, Tapping). Further the market is also geographically segmented North America, Europe, Asia-Pacific, Latin America, Middle East and Africa regions.
Growing focus on reducing CO2 emissions and to decrease the use of fossil fuels has increased the demand for naturally occurring chemicals. Use of pine derived chemicals is eco-friendly as they are derived naturally from pine trees. Hence, the market for pine derived chemicals is expected to grow steadily with increase in awareness among various nations regarding the benefits of using pine derived chemicals. However, as pine trees are not abundantly available in all continents and availability of alternatives are expected to restrain the market growth.
On the basis of type, Tall Oil Fatty Acids are the largest market segment due to its applications in paints and coatings industry. On the basis of application, 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. On the basis of source of chemicals, the market is categorized into Living Trees, Dead Pine Stumps and by products of sulphate pulping. On the basis of extraction process, tapping process leads the market in this segment due to the cost effectiveness and also this process does not damage the wood.
North America leads the market due the availability of large number of pine trees in this region and strong policies regarding control of carbon dioxide emissions. Asia Pacific is expected to be the fastest growing segment due to the ease of operations in this region and also government initiatives.
Some of the major companies in the market are Eastman Chemical Company, Harima Chemicals Group, Renessenz, MeadWestvaco Corporation, Arakawa Chemical Industries, DRT, Arizona Chemical Company, Georgia-Pacific Chemicals, Foreverest Resources and Mentha & Allied Products.
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