Market Size of Pine Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pine Chemicals Market Analysis
During the time frame of the forecast, the pine chemicals market is expected to register a CAGR of over 4.5%.
In 2020, COVID-19 affected the chemical industry severely, which further decreased the demand for pine chemicals. However, the upsurge in demand for pine chemicals in various industries, including coatings, mining, and lubricants, has propelled the industry.
- The market that was looked at is growing because there is more demand for pine chemicals in mining, flotation chemicals and lubricants, and in the flavors and fragrances industry.
- On the flip side, an increase in the availability of cheaper substitutes and a 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 and 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 coming from countries such as Germany and Italy.
