Pine-derived Chemicals Market: Snapshot
Pine chemicals are derived from the pine tree (genus Pinus). These chemicals belong to a family of naturally occurring renewable materials. Generally, pine derived-chemicals are end-result of the wood carbonization or oleoresin distillation. They are also bi-products of the kraft pulping technique. For the production of tall oil, black liquor skimming treatment together with acid is employed. This oil is a combination of rosin acids, oleic acid, and many other unsaturated fatty acids.
In food and beverages industry, pine-derived chemicals are widely utilized in the manufacturing of flavors used in soft drinks, food products, vitamins, and food additives. In addition to this, growing use of pine-derived chemicals in the production of fragrances used in soaps and household cleaners, and perfumes is predicted to drive demand opportunities in the global pine-derived chemicals market in the years ahead. In automobile industry, chemicals derived from pine are used in the production of tires. Thus, the increased demand for tires from automotive sector is expected to generate promising expansion avenues in the global pine-derived chemicals market.
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In recent few months, several companies working in the global pine-derived chemicals market are experiencing remarkable disruption in regular activities including production and distribution due to COVID-19 pandemic. Many countries across the globe had announced lockdowns to contain the spread of coronavirus. As a result, industry players are focused on strategizing their business moves to deal with numerous issues such as staff shortage due to lockdowns and ongoing COVID-19 outbreaks in many regions across the globe.
Several companies working in the global pine-derived chemicals market are starting production and distribution activities with taking all precautions to prevent coronavirus spread. On the back of all these events, the global pine-derived chemicals market is estimated to bounce back and generate substantial revenues in the years ahead.
Pine-derived Chemicals Market – Snapshot
Pine chemicals is a family of renewable, naturally occurring materials derived from the pine tree (genus Pinus). These chemicals are derived through the distillation of oleoresin or carbonization of wood. A majority of distilled products are made from gum, stumps, logs, and sulfate pulp byproducts. During the papermaking process, chemicals from pine tree are recovered as co-products of the pulping process in the form of crude tall oil (CTO) and crude sulfate turpentine (CST). Oleoresin can also be recovered from pine trees. It is separated into gum rosin (GR) and gum turpentine (GT).
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Based on type, the global pine-derived chemicals market has been segmented into tall oil fatty acids, tall oil rosin, gum turpentine, gum rosin, pitch, sterols, and others. The gum rosin segment held a leading share of the global market, in terms of both value and volume, in 2017. The segment is estimated to expand at a considerable pace during the forecast period. Gum rosin is used in printing inks, photocopying and laser printing paper, varnishes, adhesives, soap, soda, soldering fluxes, and sealing wax as well as in paper sizing. Tall oil rosin (TOR) is another significant segment of the global pine-derived chemicals market. It is estimated to expand at a rapid pace during the forecast period. TORs are unmodified in order to provide a cost-effective and flexible starting point for several end-use applications and customer-specific processes. Tall oil fatty acids is another significant segment of the market. These acids are used in the manufacture of dimer acids, alkyd resins, oilfield chemicals, metalworking fluids, liquid cleaners, textile chemicals, fuel additives, construction chemicals, metallic stabilizers, and fatty derivatives. Gum turpentine and gum rosin segments are projected to expand at a significant growth rate during the forecast period. The sterols segment held a relatively minor share of the global market in 2017.
In terms of application, the global pine-derived chemicals market has been divided into paints & coatings, adhesives & sealants, surfactants, and printing inks. The paints & coatings segment accounted for a dominant share of the global market, in terms of both revenue and volume, in 2017. Use of paints and coatings makes products more durable, more attractive, safer, and more saleable. The adhesives & sealants segment constituted a significant share of the global pine-derived chemicals market in 2017. The segment is estimated to expand rapidly during the forecast period. Adhesives and sealants function along with other components of the assembly to provide a durable product. The surfactant segment held a key share of the global pine-derived chemicals market in 2017. It is anticipated to expand at a considerable pace throughout the forecast period. Printing inks and surfactants segments constituted low shares of the market. They are expected to expand at a sluggish pace during the forecast period.
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Based on region, the global pine-derived chemicals market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of both value and volume, Asia Pacific was a leading region of the global pine-derived chemicals market in 2017. The region is estimated to continue its dominance throughout the forecast period. The market in the region is anticipated to expand at a rapid pace during the forecast period, due to increase in urbanization, growth in the disposable income of consumers, and advancements in technology. In terms of consumption, Europe and North America follow Asia Pacific. The Pine-Derived Chemicals Market in Europe and North America is expected to expand at a significant pace from 2018 to 2026, owing to easy availability of pine trees in these regions. In terms of demand, Latin America and Middle East & Africa constituted relatively low shares of the global market in 2017. However, the market in Latin America is estimated to expand at a substantial pace during the forecast period, led by wide availability of pine trees in the region.
The global pine-derived chemicals market is dominated by large-sized players. Presence of several large-sized players makes the market highly competitive. Key players operating in the market are Eastman Chemical Company, Harima Chemicals Group, Inc., Arakawa Chemical Industries, Ltd., Kraton Corporation, and Forchem Oyj.
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