Pine-Derived Chemicals Market is Projected to Reach $6.8 billion by 2027

The global pine-derived chemicals market size is estimated to be valued at USD 5.5 billion in 2022. It is projected to reach USD 6.8 billion by 2027, recording a CAGR of 4.5%, in terms of value. The Increasing demand for renewable resources and the application of pine-derived chemicals in the end-user industry to drive the market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=36161841

The gum rosin segment accounts for the largest market share in the pine-derived chemicals market

Based on type, the gum rosin segment is the largest segment in the overall pine-derived chemicals market. Gum rosin is the most oldest and extensively consumed rosin and it finds its application in paints, coating, printing inks, rubber, soaps, electronics, and food industries. The high demand for gum rosin comes from the oil paint industry, where the carboxylation reaction of resin acid is used for producing resin used in paints, coating, and inks.

The living trees segment is projected to account for the second-largest market share in the pine-derived market during the forecast period

Based on source, the living trees segment is projected to account for the second-largest market share in the pine-derived chemicals market. Pine chemicals are extracted from living trees to obtain oleoresin or pine gum through a process known as tapping. Turpentine, a volatile component of these oleoresins is separated through a distillation process. This is largely practiced in areas of North America, Northern Europe, Russia, and across Asia.

The paints & coatings segment is projected to grow at a significant CAGR in the pine-derived chemicals market during the forecast period

By application, the pine-derived chemicals market is segmented into adhesives & sealants, paints & coating, surfactants, printing inks, and other applications. Pine oils are used in paints & coating which improves the adhesion and works as a permanent coating. In a more environmentally conscious world, customers will want to use 'greener' paint & coating products that can lower the emission of harmful chemicals into the environment

The krafting process is projected to account for the second-largest share in the pine-derived chemicals market during the forecast period

By process, the pine-derived chemicals market is segmented into kraft process and tapping process. Most of the pine-derived companies in the world use kraft process as the primary technique for extracting pine chemicals. The kraft process is beneficial in reducing environmental damage by reducing the impact of waste material generated from pulping process.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=36161841

North America is the largest region in the pine-derived chemicals market in the forecast period

North America accounted for the largest region in the global pine-derived chemicals market in the forecast period. For the last few decades, the region has witnessed an increase in implementing new and innovative approaches in kraft process for extraction of pine chemicals. These factors have driven the market for construction, cosmetics, vitamin intermediates, pine oil disinfectants & insect repellents, fragrances & perfumes, and food & drink flavors in the region, which in turn, has contributed to the growth of the pine-derived chemicals market.

Leading companies are Kraton Corporation(US), Eastman Chemical Company (US), Georgia Pacific Chemicals LLC (US), among others.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.