In Ireland, Research and Markets is projecting a pine-derived chemicals market, in terms of value, of $4.8 Billion by 2020, at a CAGR of around 4.7 % from 2015 to 2020. That’s the headline from R&M’s new ”Pine-Derived Chemicals Market by Type (TOFA, TOR, Gum Turpentine, Gum Rosin, Pitch, Sterols), Application (Paints & Coatings, Adhesives & Sealants, Surfactants, Printing Inks), Source, & by Region – Global Trends & Forecast to 2020″ report.
Segments? The gum rosin segment is projected to be the largest and the fastest-growing in the next five years owing to its high benefits and uses. Gum rosin finds application in adhesives, paints & coatings, ink, rubber, paper, and gum-based candy. The segment is projected to grow considerably at a CAGR of 5.5 % between 2015 and 2020. The tall oil fatty acids segment accounted for the second-largest share in the global market in 2014 and is projected to follow the same trend for the next five years.
Geographies? The pine-derived chemicals market is led by North America followed by the Asia-Pacific region, R&M writes. The Asia-Pacific region is projected to be the fastest-growing pine chemicals market at a CAGR of 5.7 % from 2015 to 2020. Japan and China are the major and the fastest-growing pine chemicals markets in the Asia-Pacific region, due to increasing demand for bio-based products in the market.
Key players? Eastman Chemicals, Archer Daniels Midland, Ashland, Harima Chemicals Group, and Arakawa Chemical Industries, Ltd. Other players include Derives Resiniques ET Terpeniqes Arizona Chemical, Georgia-Pacific Chemicals and Foreverest Resources.