Rosin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Rosin Market is segmented by Rosin Type (Gum, Wood, and Tall Oil), Application (Adhesives, Paints and Varnishes, Rubbers, Paper Sizing and Fillers, Printing Inks, 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 Rosin in revenue (USD million) for all the above segments.

Rosin Market Snapshot

Rosin Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %
Rosin Market Key Players

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Market Overview

The Global Rosin Market is projected to register a CAGR of 4% during the forecast period (2021-2026).

Due to COVID-19 outbreak, all the major industries such as construction and automobile across the globe slowed down. According to OICA, global production of vehicles in the third quarter of 2020 is around 50 million, a significant decrease compared to the production in third quarter of 2019 which is around 65 million. This decreases the paints and varnishes market which in turn adversely impacted the rosin market. Adhesives, which is a major application of rosin, have application primarily in the packaging industry. Due to this pandemic, packaging industry has also suffered and thus affecting the rosin market. However, the market is anticipated to recover in 2021 with the upliftment of lockdown in several countries and resume of production in various industries across the globe.

  • In the medium term, the growing demand for adhesives and increasing demand from the paints and coatings industry are the major factors driving the market.
  • On the other hand, the availability of close substitutes and unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.
  • Asia-Pacific represents the largest market and is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.

Scope of the Report

Rosin, also known as colophony or Greek pitch, is a solid form of resin obtained from pines and other plants, mostly conifers, and is made by vapourising the volatile liquid terpene components of fresh liquid resin. It's semi-transparent and comes in a variety of colours ranging from yellow to black. The market is segmented by rosin type, application, and geography. By rosin type, the market is segmented into gum, wood, and tall oil. By application, the market is segmented into adhesives, paints and varnishes, rubbers, paper sizing and fillers, printing inks, and other applications. The report also covers the market size and forecasts for the Rosin Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD Million).

By Rosin Type
Gum
Wood
Tall Oil
By Application
Adhesives
Paints and Varnishes
Rubbers
Paper Sizing and Fillers
Printing Inks
Other Applications
By Geography
Asia-Pacific
China
India
Japan
South Korea
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

Growing Demand for Gum Rosin

  • Gum rosin is widely used in adhesives, and it is expected to be the fastest-growing market during the forecast period.
  • It accounts for a major market share of over 60% of the total rosins market. It is harvested from pine trees by periodically wounding the tree and collecting the sap. Gum rosin is sourced from a variety of pine species in China, Brazil, India, Indonesia, and other countries.
  • Gum rosins are unsaturated and often are unstable. Through esterification, hydrogenation, and polymerization, the products rosin resins, rosin esters, modified ester rosins, and modified phenolic resins are produced. These are often termed as rosin derivatives and have the same purpose as rosins.
  • Adhesives made using gum rosin resins have superior characteristics, like excellent durability, thermal stability, greater polarity, and superior hot tack.
  • Gum rosin is used as an ingredient during the manufacturing of paints and coatings. Its application in paints and coatings is growing rapidly due to its nature to easily dissolve in turpentine, gasoline, alcohol, and other organic solvents.​
  • The global paints and coatings industry is growing considerably owing to the increasing demand from various end-user industries, such as building and construction, transportation, industrial, and protective.​ The countries, such as China., India, ASEAN countries (Indonesia, Singapore, Thailand, Vietnam, and the Philippines), the United States, have been witnessing robust growth in construction activities.​
  • In the United States, according to the US Census Bureau, the total privately‐owned housing units authorized by building permits in March 2020 were at a seasonally adjusted annual rate of 1,353,000, representing 5% growth over the March 2019 rate of 1,288,000. The total number of privately-owned housing starts in March 2020 was at a seasonally adjusted annual rate of 1,216,000, representing 1.4% growth over the March 2019 rate of 1,199,000. Similarly, the total privately-owned housing completions in March 2020 were at a seasonally adjusted annual rate of 1,227,000, representing 9.0% below the March 2019 rate of 1,348,000.
  • With the growing demand from adhesives and printing inks, paints and coatings the gum rosin products are expected to influence the market during the forecast period.
Rosin Market Latest Trends

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to dominate the market for the rosin market, during the forecast period, due to an increase in demand from countries, like China, and India.
  • Rosins are used in the production of hot-melt, pressure-sensitive, and rubber adhesives, which are predominantly used in the construction, packaging, and automotive industry. India’s packaging industry is the fifth-largest in the world and is growing at about 22-25% per year, as per the Plastics Industry Association of India. Costs of packaging and processes food can be 40% lower than Europe because of highly skilled labor and cheap labor costs. The growing population and increasing demand for packaging are expected to drive the market.
  • In paints and varnishes, rosin is used in the formulation of road markings and other industrial coatings, to meet the requirements and reduce residual solvent emissions. The Indian government has allocated USD 14.11 billion for railway infrastructure development, and suggested that USD 750 billion should be invested in the railway and USD 12.03 billion in roadways over the coming years. The growing infrastructure, to meet the growing population needs, is expected to drive the market for rosins during the forecast period.
  • China is the leading manufacturer of gum rosin, with more than 60% of the total world’s gum rosin production and the largest consumer, globally. Additionally, printing ink in China typically contains about 7% of rosin. Moreover, according to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019, which are expected to be completed by 2023.
  • The construction industry grew at a strong pace in 2019, even though the growth slowed down during the year, compared to 2018. The construction sector has supported the economic growth in the country when ever major slowdown occurred.
  • Demographics in the country is expected to continue to spur the growth in residential construction. Rising household income levels combined with population migrating from rural to urban areas are expected to continue to drive the demand for the residential construction sector in the country.
  • Even non-residential infrastructure is also expected to grow considerably. The aging population in the country is creating demand for the construction of healthcare facilities and new hospitals. The structural changes happening in the Chinese economy in the past few years as the service sector is taking larger and larger share in the total GDP has given rise to construction of huge commercial and office spaces. However, COVID-19 massively affected the Chinese economy in the first half of 2020.
  • The aforementioned factors, coupled with government support, are contributing to the increasing demand for the rosin market in Asia-Pacific, during the forecast period.
Rosin Market Growth By Region

Competitive Landscape

The rosin market is partially fragmented, along with players accounting for a marginal share of the market. Few companies in the market include Eastman Chemical Company, Foreverest Resources Ltd., Henan Haofei Chemical Co.,Ltd, G.C. RUTTEMAN & Co. B.V., and Harima Chemicals Group, Inc among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand for Adhesives

      2. 4.1.2 Increasing Demand from Paints and Coatings Industry

    2. 4.2 Restraints

      1. 4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak

      2. 4.2.2 Availability of Close 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 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Rosin Type

      1. 5.1.1 Gum

      2. 5.1.2 Wood

      3. 5.1.3 Tall Oil

    2. 5.2 By Application

      1. 5.2.1 Adhesives

      2. 5.2.2 Paints and Varnishes

      3. 5.2.3 Rubbers

      4. 5.2.4 Paper Sizing and Fillers

      5. 5.2.5 Printing Inks

      6. 5.2.6 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 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

      1. 6.4.1 AF Suter & Co Ltd

      2. 6.4.2 Arakawa Chemical Industries,Ltd

      3. 6.4.3 Astrra Chemicals

      4. 6.4.4 CV. INDONESIA PINUS

      5. 6.4.5 DRT

      6. 6.4.6 Eastman Chemical Company

      7. 6.4.7 EMCO Dyestuff

      8. 6.4.8 Foreverest Resources Ltd

      9. 6.4.9 GC RUTTEMAN & Co. B.V.

      10. 6.4.10 Harima Chemicals Group, Inc.

      11. 6.4.11 HARRPA

      12. 6.4.12 Henan Haofei Chemical Co., Ltd

      13. 6.4.13 Himalaya Terpenes Pvt. Ltd

      14. 6.4.14 KANTILAL BROTHERS

      15. 6.4.15 Kemipex

      16. 6.4.16 Lawter, A Harima Chemicals, Inc.

      17. 6.4.17 M/s Saraf Resin and Chemicals Pvt. Ltd

      18. 6.4.18 Manish Minerals & Chemicals

      19. 6.4.19 Punjab Rosin and Chemicals Works

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Demand for Bio-based Products

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Rosin Market market is studied from 2016 - 2026.

The Rosin Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Eastman Chemical Company , Foreverest Resources Ltd , G.C. RUTTEMAN & Co. B.V., Henan Haofei Chemical Co.,Ltd, Harima Chemicals Group, Inc. are the major companies operating in Rosin Market.

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