Transparency Market Research finds a cut throat competition between players in the pine derived chemicals market. This is mainly because of the presence of several local as well as international players in the market. The international players are focusing on strengthening their market share by improving their supply chain management. Most of them are working to strength their online presence to tap numerous opportunities in the global pine derived chemicals market.
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Some of the prominent players operating in the global pine derived chemicals market are Harima Chemicals Group, Inc., Eastman Chemical Company, Arakawa Chemical Industries, Ltd., Kraton Corporation, and Forchem Oyj.
According to TMR, the global pine chemicals market was valued at US$ 5,170.1 mn in 2017. Owing to increasing demands from end user, the market is expected to rise at a healthy 4.3% of CAGR from 2018 to 2026.
On the basis of geography, Asia Pacific is expected to dominate regional segment in the pine derived chemical market. This is mainly due to the presence of several industries in the region, the revenue generated by these companies is expected to rise 32.7 percent in the forecast period. Based on type, the gum rosin segment is anticipated to lead the global pine derived chemicals market, in terms of both value and volume. This is mainly due to the increasing application of the pine derived chemicals in several industries.
Increasing Demand for Pine Derived Chemicals to Drive Market Growth
The global pine derived chemicals market is expected to rise at a healthy pace during the forecast period. This is mainly attributed to the increasing demand of pine derived chemicals in paints & coatings, adhesive, construction and healthcare sectors.
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Pine derived chemicals are chemicals derived from pine tree during different process such as distillation and carbonization. Most of the chemicals such as crude tall oil and crude sulfate turpentine. These chemicals are obtained as left over products during paper manufacturing process. Other chemical products derived from pine tree include Gum Turpentine, Pitch, Sterols and Gum Rosin.
One of the major factor expected to fuel the global pine derived chemicals market is increasing demand for organic chemicals in different industries sectors. The chemicals derived from pine tree are eco-friendly and result in low carbon emission. Stringent government regulation against use of carbon emissive product is expected to boost the global pine derived chemical market. Increasing demand for pine derived chemicals from industries such as increasing, paints & coatings, adhesives & sealants, surfactants, printing Inks is expected to strengthen prospect of pine derived chemicals markets.
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Huge Gap between Demand and Supply to Impede Market Growth
Despite several drivers and opportunities in the global pine derived chemicals market. The growth in the pine derived chemicals market is expected to hamper owing to huge gap in demand and supply of pine derived chemicals. Owing to this, consumers are forced to use artificial chemicals; this is curbing the demand of pine derived chemical. However to over this, players are taking several efforts such as planting more pine tree and strengthening their supply chain. This is expected to dive the global pine derived chemicals market and offer new avenues of growth in the coming few years.
The information is derived from TMR report titled, “Pine derived Chemicals Market (Type – Tall Oil Fatty Acids, Tall Oil Rosin, Gum Turpentine, Gum Rosin, Pitch, Sterols, and Others; Application – Paints and Coatings, Adhesives and Sealants, Surfactants, Printing Inks) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
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