Market Trends of Tall Oil Rosin Industry
This section covers the major market trends shaping the Tall Oil Rosin Market according to our research experts:
Increasing Usage in the Pulp and Paper Industry
- Tall oil rosin is the fastest-growing fiber sector in the pulp & paper industry and the world's largest bio-based investment market. The major application of tall oil rosin is in pulp and paper production and for obtaining forest produce.
- According to Food and Agricultural Organization (FAO), the global production volume of paper and paperboard was approximately 401 million metric tons in 2020.
- The commercial printing market is poising remarkable growth. With this new opportunity, the ink and toner industry is benefiting from manufacturing ink cartridges.
- India is one of the largest ink and toner manufacturers around the world. The value of the print industry across India was over INR 225 billion in 2021 and was further expected to exceed INR 250 billion by 2024, indicating a compound annual growth of around 3% which will stimulate the market's growth. The pulp industry is estimated to reach 66 million metric tons by 2023.
- Owing to all these factors, the tall oil rosin market will likely grow globally during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy in terms of GDP. China and India are among the fastest emerging economies in the world.
- China is the world's leading producer and exporter of both pulp and paper. According to the Chinese National Bureau of Statistics, in 2021, the Chinese pulp and paper product manufacturers generated a revenue of more than USD 201 billion, with a gross profit of USD 13 billion, a 21.2% year-on-year growth.
- The Indian paper industry is growing at a rate of 6-7 %, driving the growth of the pulp & paper industry. Also, the proposed investment value in India's paper and pulp sector for the fiscal year 2020 amounted to about 19 billion Indian rupees.
- China is also leading in the printing industry. It is projected that the revenue of the printing industry in China will amount to approximately 120.23 billion U.S. Dollars by 2025.
- In the year 2022, India's revenue in the Fragrances segment amounts to USD 286.40 million. The market is expected to grow annually by 2.49% CAGR, which stimulates the demand for the tall oil rosin market.
- Due to all such factors, the region's market for tall oil rosin is expected to have a steady growth during the forecast period.
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