The report covers comprehensive information about market trends, volume (KT) and value (US$ Mn) projections, recent developments and dynamics in the global Gum Rosin market for the period between 2018 and 2028.
The global Gum Rosin market is projected to reach a market value of US$ 1.97 Bn during the forecast period and is anticipated to grow at a CAGR of 4.7%, by value. Growing demand from adhesives and decorative paints is the prime factor expected drive the demand for Gum Rosin in the global market.
Increasing Demand for Bio-Based Materials from Various Industries
Bio-based materials, such as Gum Rosin, are majorly derived from renewable energy sources of energy. Gum Rosin, in particular, is derived from pine chemicals derived from pine tree using the pine tapping process. There are various advantages of using bio-based materials instead of synthetic or petrochemical based materials. For instance, bio-based materials are eco-friendly and easily degrade into the environment. That apart, due to stable supply of bio-based sources, price fluctuations are low when compared to petrochemical based materials.
According to the “3rd Annual Conference and Expo on Biomaterials”, the Bio-based materials market is expected to register significant growth rate due to easy availability of funds & grants by government bodies globally, technological advancements and growing demand for environment-friendly products around the globe.
Growth of End-Use Industries is a Positive Sign
Gum Rosin is used as a base material in various applications, such as paints & coatings, printing inks, textile printing inks, rubbers, adhesives, etc. Growing applications of Gum Rosin in various end-use industries is expected to drive the growth of the global Gum Rosin market during the forecast period.
Gum Rosin easily dissolves in alcohol, gasoline, etc. and thus, is used as a basic ingredient in paints or decorative paints. The paints & coatings industry is continuously growing due to growing demand from construction and automotive industries. Additionally, increasing demand for Gum Rosin from printing ink and paper industries will also give a push to the Gum Rosin market over the forecast period.
The paints and coatings segment is expected to grow at 5.4% CAGR, by value, during the forecast period. Growing demand for natural raw materials in various industries is an important factor that will create new opportunities for the Gum Rosin market to grow further in the coming years.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Growing Demand from Adhesives Application to Boost Market Growth
In adhesives, Gum Rosin is used as a raw material to enhance softness, strength and adhesion of adhesives. Adhesives are used in the manufacturing of furniture and rubber boots as well as in bookbinding and packaging industries.
Growing demand for furniture and growing rubber industry are important factors that will drive the growth of adhesives market in the years to come, which in turn, will indirectly positively impact the global Gum Rosin market. Additionally, the packaging industry is expected to witness healthy growth in future, which may increase the demand for adhesives in the global market.
The adhesives market is continuously growing at a significant rate and the demand for natural ingredients based adhesives is expected to increase further in near future. This will further push the growth of the Gum Rosin market during the forecast period. The adhesives segment will drive the global Gum Rosin market and is projected to create absolute dollar opportunity worth US$ 249.2 Mn during the forecast period
China to Remain a High Growth – High Value Market for Gum Rosin
Production and consumption of Gum Rosin in China is expected to grow at a prominent rate during the forecast period due to increasing demand for natural raw materials from adhesives, paints and printing inks industries in China. The country is also a prime exporter of Gum Rosin in the South East Asia region. Owing to these factors, the China Gum Rosin market is expected to register significant growth during the forecast period.
Furthermore, well-established distribution and production facilities across countries, such as Indonesia, Vietnam, India, etc., and growing Gum Rosin consumption will create a healthy platform for the growth of the Gum Rosin market in the Asia Pacific region.
Gum Rosin Market – Competition Landscape
The global Gum Rosin market is a fragmented market and most major market participants held single digit market share in 2017. The top ten to twelve players in the global Gum Rosin market collectively hold between 30% and 35% market share.
Some of the leading manufacturers studied under this study on the global Gum Rosin market are Wuzhou Pine Chemicals Ltd., PT. Naval Overseas, Wuzhou Sun Shine Forestry & Chemicals CO., ltd., Punjab Rosin and Chemicals Works, Forestar Chemical Co., Ltd., Deqing Jiyuan synthetic Resin Co., Ltd., Deqing Yinlong Industrial Co., Ltd., Resin Chemicals Co., Ltd, GUILIN SONGQUAN FOREST CHEMICAL CO., LTD., CV. INDONESIA PINUS, Vinhconship Group and EURO-YSER.
Key Questions Answered In the Global Gum Rosin Report
- How has the Gum Rosin market evolved over the past four years?
- What are some of the prevailing market dynamics in the Gum Rosin market?
- What shape is the Gum Rosin market expected to take in terms of volume and value during the study period?
- What are the competition developments and trends in the Gum Rosin market?
- What are the important key challenges, opportunities and improvement factors for Gum Rosin market players?
- What are some of the underlying macro-economic and industry factors impacting the growth of the Gum Rosin market?
- What are the important market positioning and key strategies of key Gum Rosin manufacturers as per the market taxonomy?
- How is the competition structured at present and how has it evolved in the Gum Rosin market over the past few years?
Gum Rosin Market: Segmentation
- Paints & Coatings
- Printing Ink
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa