Pine Chemicals Market is Expected to Reach USD 17059 Million by 2030: Straits Research

The pine chemicals market in the Asia-Pacific covered a market share of more than 30% due to the influence of dominant exporters in the region. It acquired the most significant stake in the regional market of pine chemicals. The developments in these emerging economies have influenced the rise of the global pine markets. The increasing number of advanced biorefineries is further impacting the demand positively. The North American market is expanding with a CAGR of 5.6% due to the high availability of pine trees and refineries.

Pune, INDIA


Portland, OR, April 04, 2022 (GLOBE NEWSWIRE) -- The global pine chemicals market had a market share of USD 8836.12 million in 2017, according to the new report of Straits Research. It is predicted to increase at a CAGR of 5.51% by 2030. 

Pine Chemicals are obtained from pine trees originating from the northern hemispheres. They have a few modern applications in soaps, cleansers, plasticizers, synthetic compounds, surface coatings, etc. Gum rosin is exceptionally needed in printing, glues, and oils. As countries' governments are shifting towards eco-friendly options, the rosin portion supports the pine compound industry and records half the global pine chemicals market. 

Many small-scale businesses that consume rosin are positively affecting the demand in the market. These organizations incorporate the manufacturing of cleansers, ink, tile coating, and furniture, expanding the interest for rosin on the lookout. Among the few nations, Italy and Germany have various oil blending units for sending petroleum products to the treatment facility and different areas. 


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Key Insights

  • Tall oil has acquired more than 50% of the market share in 2021 is speculated to grow at a CAGR of 6.32% till 2030.
  • The Asia Pacific holds the highest market share in terms of the revenue generated by pine chemicals in 2021. It almost acquired 45% of the total market, followed by North America. 
  • Based on application, the global pine chemicals market is segmented into paints and coatings, solvents and disinfectants, printing ink, synthetic rubber, flavors and fragrances, and others. Paints and layer acquired the highest market share in 2021.
  • Pine chemicals sourced from pine trunks hold the highest market share of 43% in the global pine chemicals market in 2020. 


Preference for Biobased Materials to Increase the Production of Pine Chemicals

Pine chemicals are the by-products derived while manufacturing paper, and these are redesigned into ingredients utilized in various products of daily use. They have used paints, adhesives, disinfectants, rubber, flavors, and fragrances. Because of environmental concerns, increasing demand for environmentally safe packaging has redirected towards compostable, inexhaustible, recyclable, and reusable packaging methods. Pine chemicals are plant-based bio items that can be a good alternative for many hazardous ingredients. 

Government restrictions over using hazardous substances have increased the dominance of bio-based materials in the world markets. The paints and coatings and oil industry are shifting towards eco-friendly and sustainable products. The increased renovation in the infrastructural development projects has spiked the demand for pine chemicals—the use of adhesives in the construction and packaging sectors to grow in the coming years. 

This is predicted as the bio-diesel production of German companies has reached 3.2 metric million tons in 2018 and is expected to rise in the years to follow. All these factors are aiding in the expansion of global pine markets.

Paints and coatings are the best options for securing surfaces of the houses and buildings. They are widely used in road markings, painting houses, buildings, furniture, and other items. Rosin, a pine chemical derivative, is used in manufacturing paints, and it increases the drying property of the paints and adds a glossy finishing touch. Mineral Turpentine and white spirit are the most effective solvent for producing paints. 

Solvents are utilized in industrial and domestic adhesives for metal-to-metal bonding and assembling items to increase their durability. Turpentine was customarily used in disinfectants and insect sprays, and it is also used in household pin oil cleaners. Pine oil is a skin sensitizer widely used in manufacturing solvents and disinfectants. The solvents and disinfectants are the second most used application of pine chemicals globally. They are predicted to increase at a CAGR of 5.5% by 2027


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Impact of COVID-19

Due to the Covid-19 Pandemic, the world economy was drastically affected. People lost their jobs, small-scale industries had to be closed down, and developing nations started showing negative GDP in the period. This involved the pine chemicals market adversely. After a year, when the pandemic began to subside, regulatory bodies lifted a few restrictions that businesses could open, and supply chains resumed their operations. 

The automotive, oil and refinery, construction, production and manufacturing, and others decided to increase their productivity to cover the losses due to lockdown. The entire chemical production was hampered except for those needed in the healthcare and pharmaceutical sectors

The global pine chemicals market depends on the accessibility of pine trees, their natural substance, skilled labor, availability of raw material, and maintaining and processing of the raw material for further production. Even though the pandemic stopped the working of these production units posts lockdown, a boom was observed in demand for these chemicals. The chemicals sector played a crucial role in recovering the regional markets. The evolving ideals of using environmental products as the ozone layer was seen recovering made way for the pine chemicals market. 


Global Pine Chemicals Market: Segmentation

By Product Type

  • Tall oil
  • Rosin
  • Turpentine
  • Others

By Application

  • Paints and Coatings
  • Solvents and Disinfectants
  • Printing Ink
  • Synthetic Rubber
  • Flavors and Fragrances

Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • The Middle East and Africa


List of Key Players

  • Harima Chemical Group
  • Ingevity Corporation
  • Pine Chemical Group OY
  • Eastman Chemical Company OY
  • Mentha Allied Products Pvt. Ltd.  


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Detailed Table of Content

1          Introduction
1.1      Market Definition
1.2      Market Scope
2          Research Methodology
2.1      Primary Research
2.2      Research Methodology
2.3      Assumptions & Exclusions
2.4      Secondary Data Sources
3          Executive Summary
4          Market Overview
4.1      Report Segmentation & Scope
4.2      Value Chain Analysis: Pine Chemicals Market
4.2.1  Vendor Matrix
4.3      Key Market Trends
4.3.1  Drivers
4.3.2  Restraints
4.3.3  Opportunities
4.4      Porter’s Five Forces Analysis
4.4.1  Bargaining Power of Suppliers
4.4.2  Bargaining Power of Buyers
4.4.3  Threat of Substitution
4.4.4  Threat of New Entrants
4.4.5  Competitive Rivalry
4.5      Environment & Regulatory Landscape
4.6      Forecast Factors & Relevance of Impact
4.7      Macro-Economic & Geopolitical Scenario
4.8      Parent Market Overview
4.9      Technology Landscape
4.10   Market Share Analysis
4.11   Potential Venture Analysis
4.12   Regional Price Trends
4.13   Raw Material Trends
4.14   Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15   Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1        North America
4.15.4.2        Europe
4.15.4.3        Asia-Pacific
4.15.4.4        Central and South America and the Caribbean
4.15.4.5        The Middle East and Africa
5         Product Type Overview
5.1      Introduction
5.1.1  Market Size & Forecast (Value & Volume)
5.2      Tall oil
5.2.1  Market Size & Forecast (Value & Volume)
5.3      Rosin
5.3.1  Market Size & Forecast (Value & Volume)
5.4      Turpentine
5.4.1  Market Size & Forecast (Value & Volume)
5.5      Others
5.5.1  Market Size & Forecast (Value & Volume)
6         Application Overview
6.1      Introduction
6.1.1  Market Size & Forecast (Value & Volume)
6.2      Paints and Coatings
6.2.1  Market Size & Forecast (Value & Volume)
6.3      Solvents and Disinfectants
6.3.1  Market Size & Forecast (Value & Volume)
6.4      Printing Ink
6.4.1  Market Size & Forecast (Value & Volume)
6.5      Synthetic Rubber
6.5.1  Market Size & Forecast (Value & Volume)
6.6      Flavors and Fragrances
6.6.1  Market Size & Forecast (Value & Volume)
7          Regional Overview
7.1      Introduction
7.1.1  Market Size & Forecast (Value & Volume)
7.2      North America
7.2.1  Economic Overview
7.2.2  Market Scenario
7.2.3  U.S.
7.2.4  Canada
7.2.5  Mexico
7.3      Central and South America and the Caribbean
7.3.1  Economic Overview
7.3.2  Market Scenario
7.3.3  Brazil
7.3.4  Argentina
7.3.5  Colombia
7.3.6  Rest of Central and South America and the Caribbean
7.4      Europe
7.4.1  Economic Overview
7.4.2  Market Scenario
7.4.3  Germany
7.4.4  France
7.4.5  The U.K.
7.4.6  Italy
7.4.7  The Rest Of Europe
7.5      Asia-Pacific (APAC)
7.5.1  Economic Overview
7.5.2  Market Scenario
7.5.3  China
7.5.4  Japan
7.5.5  India
7.5.6  Australia
7.5.7  South Korea
7.5.8  Rest Of APAC
7.6      Middle East
7.6.1  Economic Overview
7.6.2  Market Scenario
7.6.3  South Arabia
7.6.4  The UAE
7.6.5  Qatar
7.6.6  Oman
7.6.7  Turkey
7.6.8  The Rest Of Middle East
7.7      Africa
7.7.1  Economic Overview
7.7.2  Market Scenario
7.7.3  Nigeria
7.7.4  South Africa
7.7.5  The Rest Of Africa
8          Competitive Landscape — Manufacturers & Suppliers
8.1      Competition Dashboard
8.2      Industry Structure
8.3      Harima Chemical Group
8.3.1  Business Overview
8.3.2  Financial Performance
8.3.3  Recent Developments
8.3.4  Portfolio
8.4      Ingevity Corporation
8.5      Pine Chemical Group OY
9          Conclusion & Recommendation
10       Acronyms & Abbreviations


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Market News

  • On 8th March 2018, Ingevity acquired the Georgia-Pacific pine chemical business for a cash purchase price of USD 310 million. Ingevity has acquired the pine chemicals-related assets at Georgia-Pacific Crossett, Ark plant, saleable inventory.
  • On 23rd March 2020, Harima Chemicals Group announced its partnership with Takasago International Corporation—a leading manufacturer in the flavors and fragrances industry.
  • On 4th December 2020, Harima Chemicals Groups increased its production capacity at its core manufacturing hub, Kakogawa Plant, Japan. The production of nanoparticles dispersions increased by 3-fold, and a trial operation started in December 2020.
  • On 19th March 2021, Eastman and GP Cellulose worked with the Longleaf Alliance (LLA) to provide 60,000 longleaf pine seedlings to Torreya State Park in Northwest Florida. This collaboration is intended to protect forest ecosystems, support delicate wildlife communities, and help repair the planet for future generations.
  • On 27th September 2021, Kraton Corporation signed an agreement with DL Holdings Co, Ltd. As per the agreement, Kraton Corporation stockholders will receive USD 46.50 in cash for each share of Kraton common stock they own.


News Media

Preference for Biobased Materials to Increase the Production of Pine Chemicals
World’s 7 Largest Chemical Companies
Petrochemicals - Has COVID-19 Changed the Tune of the Industry
Changing Bulk Chemicals Market Scenario: A Future Perspective
Cleaning and Disinfection For Personal Hygiene - A Way Ahead During The Current Pandemic


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