Pine-Derived Chemicals Market 2022 Size, Share, Technological Innovations and Growth Forecast To 2032
Newly released data from pine-derived chemical market analysis by Future Market Insights shows that global consumption of pine-derived chemicals enjoyed a year-on-year (YOY) growth of 3.8% in 2021 to total global sales of USD 5.5 Bn. The global pine-derived chemicals market will expand at a CAGR of 4.4% over 2022-2032 to reach a revenue of USD 8.4 Bn.
Chemicals from pine trees occur naturally and are thus environmentally friendly. Their use leads to lower emissions of carbon dioxide as opposed to those from conventional sources. The widespread use of crude oil and natural gas products in the recent past has contributed to increased emissions and environmental issues.
While the world’s companies nowadays shift towards the use of emission-free, environmentally friendly materials in their processes, growth in this market is sure. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
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It includes in-depth insights into the pine-derived chemicals market. Some of these are:
Poor Logistics Resulted Due to COVID-19 Outbreak will Affect Supply Disruptions
Pine-derived chemicals have historically been used amongst others chemicals in the adhesive industry, the building industry and the healthcare sector. In the recent past, they have found applications in applications in printing inks, adhesives, soaps & detergents, resins, plasticizers, surface coatings, fragrance chemicals among others.
Pine chemicals are obtained by distilling resin and fatty oil extracts that are semi-solid. Pine-based products are mainly produced from gums, stumps and Kraft Pulp products. They include rosin, high oil, turpentine, resin and so forth.
Factors such as poor logistics due to traffic control and restrictions on public movement are affecting the market for pine-derived chemicals since these restrictions are causing disruptions in supply. While this may not affect the pine industry’s requirements in the short term, extended trade restrictions can have a significant impact on this industry, prompting companies to explore alternative sourcing partners.
Increasing population coupled with increasing economic standards has led to increased spending on food services. Contrary to the aforementioned forecasts, however, the market may head to tough waters.
Who is Winning?
Key players operating in the market are Eastman Chemical Company, Harima Chemicals Group, Inc., Arakawa Chemical Industries, Ltd., Kraton Corporation, and Forchem Oyj. Strong government rules and regulations along with price competition between different manufacturers of pine derived chemicals are restricting the market.
Limited supply of trees may threaten the competitiveness of the industry and may impact the market price trend for pine related chemicals. Additionally, mergers and acquisitions continue to be a popular strategy among market players.
PINE-DERIVED CHEMICALS MARKET SEGMENTATION
The global Pine- Derived Chemicals Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
By Source :
By Application :
By Type :
By Process :
By Region :
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Aug 16, 2022