Pine Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Pine Chemicals Market is Segmented by Product Type (Tall Oil, Rosin, and Turpentine), Application (Adhesives and Sealants, Coatings, Printing Inks, Lubricants and Lubricity Additives, Biofuels, Paper Sizing, Rubber, Soaps and Detergents, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for pine chemicals in terms of volume (kilo metric ton) for all the above segments.

Market Snapshot

Pine Chemicals Market - Market Summary
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: North America
Largest Market: Europe
CAGR: 4.77 %

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Market Overview

The global pine chemicals market is estimated to post a volume of 3,928.54 kilo tons in 2021 and is projected to register a CAGR of 4.77% during the forecast period of (2022-2027).

  • The major factors driving the growth of the market studied are the increasing demand for pine chemicals in mining and flotation chemicals and lubricants and ian ncrease in demand from the flavors and fragrances industry.
  • On the flip side, an increase in the availability of cheaper substitutes and diversion of CTO to biofuels due to government incentives are expected to hinder the growth of the market studied.
  • Emerging applications of pine chemicals (DTO, TOFA, CTO, TOP, and wood rosin) and food & packaging safety regulations of adhesives and sealants are expected to unveil new opportunities for the market studied.
  • Europe dominated the market across the world, with the largest consumption from countries such as Germany and Italy.

Scope of the Report

Pine chemistry refers to the co-products derived from the papermaking process that are upgraded into crucial ingredients used in a variety of goods important to everyday lives. The pine chemicals market is segmented by product type application and geography. By product type, the market is segmented into Tall Oil, Rosin, and Turpentine. By application, the market is segmented into Adhesives and Sealants, Coatings, Printing Inks, Lubricants and Lubricity Additives, Biofuels, Paper Sizing, Rubber, Soaps and Detergents, and Other Applications. The report also covers the market size and forecasts for the melamine market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo metric ton).

Product Type
Tall Oil
Crude Tall Oil (CTO)
Tall Oil Fatty Acid (TOFA)
Distilled Tall Oil (DTO)
Tall Oil Pitch (TOP)
Rosin
Tall Oil Rosin
Gum Rosin
Wood Rosin
Turpentine
Gum/Wood Turpentine
Crude Sulphate Turpentine
Other Turpentines
Application
Adhesives and Sealants
Coatings
Printing Inks
Lubricants and Lubricity Additives
Biofuels
Paper Sizing
Rubber
Soaps and Detergents
Other Applications (Oil Field Chemicals, Chemical additives, Chewing Gums, and Food Additives)
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Adhesives And Sealants Segment to Dominate the Market

  • For decades, the pine chemicals have become vital components of the adhesives and sealants industry value chain. Tall oil products (TOFA, DTO) and rosin products (TOR and Gum rosin) serve as an excellent tackifier for adhesives.
  • In adhesives, rosin resins are used along with polymers, which form one of the major components of adhesives and thus, generate cohesion. The TOR resins offer three important benefits, which include:
    • Compatibility with a variety of polymers, which provides flexibility and reliability in formulation
    • Chemical tailoring of rosin resin to provide unique adhesive performance;
    • They are derived from a natural and renewable source.
  • On the other hand, there are various other type of pine chemicals, that are well suitable for its utilization in adhesives and sealants application:
    • Rosin-based glycidyl methacrylate monomers, a viscous liquid, can be used majorly as an advanced tackifier in the UV-crosslinking pressure sensitive adhesives.
    • Rosin-oil dimer acids mixture, prepared from rosin and industrial fatty oils, can be used in acrylic adhesives to improve their wetting, adhesion and thermal stability.
    • Rosin-tung oil Diels-Alder adduct, a yellowish solid, which is prepared from levopimaric acid and tung oil, can be used as a filler, tackifier and adhesion promoter in UV-curable adhesives.
  • Pine Chemicals Association (PCA) seeks to identify collaboration opportunities and build partnerships with the adhesives and sealants industry as food and packaging safety is of concern to adhesives and sealants manufacturers, worldwide.
  • With increasing concerns related to environmental pollution, and ability to tailor TOR resin according to the desired properties of adhesives, the application of overall pine chemicals is likely to increase in the coming years.
Pine Chemicals Market - Segmentation Trends

Europe Region to Dominate the Market

  • Europe dominated the market studied, with more than 40% of the total market by volume with Germany and Italy being the key consumers in the region.
  • According to the German Adhesives Association, the adhesives, sealant, and tape industry generate an annual turnover of more than EUR 3.7 billion.
  • Germany is the largest producer of general rubber goods (GRG) and tires in Europe. Continental AG, Dunlop GmbH., Michelin Reifenwerke AG & Co KGaA, Pirelli Deutschland GmbH, Freudenberg Group, etc., are some of the major manufacturers of tire and non-tire products in the country.
  • The major players in tire industry are expanding and contracting in Germany at the same time in response to market changes in Europe that favor larger rim-diameter tires. The disruptions in the tire manufacturing is likely to have a short-term impact on the market studied.
  • Furthermore, According to the German Association of Biodiesel Producers (Verband der Deutschen Biokraftstoffindustrie, VDB), the manufacturers produced around 3.4 million ton of biodiesel in 2020. Of this total, rapeseed and used cooking oil accounted for the highest proportion of raw materials in biodiesel production. Tall oil along with other products account for around 4%. The volatile legislation on biofuels prevents companies from investing in new technologies. The German biofuels industry needs a stable framework for continuous growth of pine chemicals during the forecast period.
  • Germany is the largest lubricant producer in Europe. The country is renowned for its sophisticated engineering sector and lubricant innovation. Strong industrial sector growth in the region has boosted metalworking fluid volumes, predicting a stable market for the overall lubricant market in Germany. According to Federal Office of Economics and Export Control, the domestic deliverables of lubricants in the country increased by 7.1% from 814.21 thousand ton in 2020 to 871.90 thousand ton in 2021. The growing demand for lubricants and increasing production in Germany is estimated to drive the demand for pine chemicals during the forecast period.
  • Also, The Italian paints and coatings market is highly fragmented with around 600 manufacturers of decorative and architectural paints in the country. According to the Italian construction association, ANCE, the investment in the construction industry is expected to increase.
  • According to Eurostat, the revenue generated by the manufacturing of paints, coating, and vanishing in Italy for FY’19 was valued at USD 7414.29 million, which was USD 7293.7 million in 2018, depicting a productive growth in the industry, thereby depicting a positive outlook for the market studied. The production volume of paints and varnishes reached 1,157.43 thousand tons in 2020 compared to 1116.69 thousand tons in 2019.
  • The country also has a presence of numerous lubricant blending units. Moreover, Eni is Italy’s leading operator in the refining sector and in the distribution of petroleum products. The company offers lubricants to numerous industries.
  • The country is focused on shifting on biofuels for transport and other applications. The country consumed 1,245.1 kilotons of oil equivalent biodiesel for transport applications compared to 1,245.7 kilotons of oil equivalent biodiesel in 2019. The growing demand for biofuels, mainly biodiesel, is estimated to drive the demand for pine chemicals during the forecast period.
  • Such factors in turn are expected to boosting the demand of the market studied.
Pine Chemicals Market - Regional Trends

Competitive Landscape

The global pine chemicals market is fragmented in nature, with top five players accounting for about 40-45% of the market. Remaining portion of the market studied is witnessing intense competition among both international players and regional-level manufacturers. The market for pine chemicals is dominated by Kraton Corporation, Ingevity Corporation, DRT, Harima Chemicals Group, and Pine Chemical Group, among others.

Recent Development

  • In December 2021, Synthomer Plc. announced to acquire the adhesive resins business from Eastman Chemical against a proposed value of USD 1 billion.
  • In November 2021, DRT announced to sign new distribution partnership with IMCD Italy to market its products for all industrial segments.
  • In September 2021, Kraton Corporation announced to be acquired by DL Chemical Co. Ltd. with a transaction value of approximately USD 2.5 billion.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Report

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Pine Chemicals in Mining and Flotation Chemicals and Lubricants

      2. 4.1.2 Increasing Demand from the Flavors and Fragrances Industry

    2. 4.2 Restraints

      1. 4.2.1 Diversion of CTO to Biofuels due to Government Incentives

      2. 4.2.2 Increase in the Availability of Cheaper Substitutes

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Tall Oil

        1. 5.1.1.1 Crude Tall Oil (CTO)

        2. 5.1.1.2 Tall Oil Fatty Acid (TOFA)

        3. 5.1.1.3 Distilled Tall Oil (DTO)

        4. 5.1.1.4 Tall Oil Pitch (TOP)

      2. 5.1.2 Rosin

        1. 5.1.2.1 Tall Oil Rosin

        2. 5.1.2.2 Gum Rosin

        3. 5.1.2.3 Wood Rosin

      3. 5.1.3 Turpentine

        1. 5.1.3.1 Gum/Wood Turpentine

        2. 5.1.3.2 Crude Sulphate Turpentine

        3. 5.1.3.3 Other Turpentines

      4. 5.1.4 Application

        1. 5.1.4.1 Adhesives and Sealants

        2. 5.1.4.2 Coatings

        3. 5.1.4.3 Printing Inks

        4. 5.1.4.4 Lubricants and Lubricity Additives

        5. 5.1.4.5 Biofuels

        6. 5.1.4.6 Paper Sizing

        7. 5.1.4.7 Rubber

        8. 5.1.4.8 Soaps and Detergents

        9. 5.1.4.9 Other Applications (Oil Field Chemicals, Chemical additives, Chewing Gums, and Food Additives)

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 ASEAN Countries

        6. 5.2.1.6 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles(Overview, Financials, Products and Services, and Recent Developments)

      1. 6.4.1 Arakawa Chemical Industries Ltd

      2. 6.4.2 DRT (Dérivés Résiniques et Terpéniques)

      3. 6.4.3 Forchem Oyj

      4. 6.4.4 Harima Chemicals Group Inc.

      5. 6.4.5 Ingevity Corporation

      6. 6.4.6 Kraton Corporation

      7. 6.4.7 Mercer International

      8. 6.4.8 OOO Torgoviy Dom Lesokhimik

      9. 6.4.9 Pine Chemical Group

      10. 6.4.10 Respol Resinas SA

      11. 6.4.11 Sunpine AB

      12. 6.4.12 Synthomer Plc.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emerging Applications of Pine Chemicals (DTO, TOFA, CTO, TOP, and Wood Rosin)

    2. 7.2 Food and Packaging Safety Regulations of Adhesives and Sealants

**Subject to Availability

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Frequently Asked Questions

The Pine Chemicals Market market is studied from 2017 - 2027.

The Pine Chemicals Market is growing at a CAGR of 4.77% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

KRATON CORPORATION, Ingevity Corporation, Harima Chemicals Group, Inc., Pine Chemical Group, DRT are the major companies operating in Pine Chemicals Market.

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