Global Pine-Derived Chemicals market demand 2024, Forecast To 2033
4 Mar, 2024
The pine-derived chemicals market size has grown strongly in recent years. It will grow from $5.46 billion in 2023 to$5.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to renewable and sustainable raw material, expanding industrial applications, rising environmental regulations, shift towards green chemistry, innovations in extraction and processing, development of biomass-based economy, widespread use in cleaning and surfactants. The pine-derived chemicals market size is expected to see strong growth in the next few years. It will grow to $7.3 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to expansion of pine-derived biochemicals market, increased utilization in agriculture, growing demand for pine oil, innovation in pine resin applications, global adoption of pine-derived terpenes. Major trends in the forecast period include bio-based resins and polymers, expanding applications in adhesives and sealants, antioxidants and health products, pine-derived terpenes in pharmaceuticals.
Global Pine-Derived Chemicals Market Key Driver
Growing environmental concerns are anticipated to drive the expansion of the pine-derived chemicals market. The increasing focus on environmental preservation has led to a shift towards plant-based alternatives, such as pine-derived chemicals, over synthetic chemicals to mitigate environmental pollution. A report by the United Nations Development Programme in January 2021 highlighted the widespread recognition of the climate emergency, particularly among educated and younger demographics worldwide. This growing consensus underscores the urgency of addressing environmental issues, driving demand for sustainable alternatives like pine-derived chemicals.
Get A Free Sample Of The Global Pine-Derived Chemicals Market ReportGlobal Pine-Derived Chemicals Market Segments
The global pine-derived chemicals market covered in this report is segmented –
1) By Type: Tall Oil Fatty Acid, Tall Oil Rosin, Gum Turpentine, Gum Rosin, Sterols, Pitch, Other Types
2) By Process: Kraft, Tapping, Pulpmills
3) By Source: Living Trees, Dead Pine Stumps and Logs, By-Product Of Sulfate Pulping
4) By Application: Adhesives and Sealants, Paints and Coatings, Surfactants, Printing Inks, Perfumes, Fragrances, and Cosmetics, Food Additives, Other Applications
By Geography: The regions covered in the pine-derived chemicals market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the pine-derived chemicals market in 2023. Europe was second-largest region in the pine-derived chemicals market report during the forecast period. The regions covered in the pine-derived chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Pine-Derived Chemicals Industry Players
Eastman Chemical Company, Ingevity Corporation, Florachem Corporation, Harima Chemicals Group Inc., L'entreprise française DRT, Georgia-Pacific Chemicals LLC, Swati Menthol & Allied Chemicals Ltd., Privi Speciality Chemicals Limited, Arboris LLC, PineChemical Group Oy, SunPine AB, Lawter Inc., Safeguard Chemical Corporation, Arakawa Chemical Industries Ltd., Kraton Corporation, WestRock Company, Forchem Oy, International Flavors & Fragrances Inc., Foreverest Resources Ltd., Takasgo International Corporation, Chemiplas Australia Pty. Ltd., Wuzhou Sun Shine Forestry and Chemicals Co., Mercer International Inc., OOO Torgoviy Dom Lesokhimik, Respol Resinas SA, Synthomer PLC, Capsa Solutions LLC, Cerner Corporation, Omnicell Inc., Parata Systems LLC, Rxsafe LLC
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Pine-Derived Chemicals Market Overview
Pine-derived chemicals refer to co-products obtained during the distillation of pine trees in the papermaking process that are transformed into essential components for use in various applications such as paints, adhesives, and so on.
Pine-Derived Chemicals Global Market Report 2023 provides data on the global pine-derived chemicals market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pine-derived chemicals market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.