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Global Gum And Wood Chemicals Market Comprehensive Study: Forecasted Market Size And Growth Rate | Royal Oak Enterprises LLC, Abbey Color Inc., Borregaard AS, Braai Star Charcoal, E & C Charcoal (Pty) Ltd,
Gum And Wood Chemicals Market Size
The Business Research Company offers in-depth market insights through Gum And Wood Chemicals Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The gum and wood chemicals market size has grown rapidly in recent years. It will grow from $397.77 billion in 2023 to $443.9 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to forestry industry, food and beverage, pharmaceuticals and healthcare, adhesives and resins.
The gum and wood chemicals market size is expected to see rapid growth in the next few years. It will grow to $661.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to renewable and sustainable materials, biopolymers and bio-based products, food ingredient innovation, pharmaceutical and nutraceutical growth. Major trends in the forecast period include plant-based binders and stabilizers, sustainable extraction practices, natural and organic product claimsbiodegradable materials.
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Market Segmentation:
The main products of gum and wood chemicals are gum arabic, guar gum, wood chemicals, charcoal, and tannic acid. Charcoal is defined as a black and hard material that is similar to coal and can be used as a fuel. It is formed by heating wood or other types of organic matter in the absence of air. The various end-user industries of gum and wood chemicals include commercial, industrial, and household. The main sales channels of gum and wood chemicals are direct sales and distributors.
Major Driver - Surging Demand For Gum Arabic Fuels Growth In The Gum And Wood Chemicals Market
Rising demand for gum Arabic contributed to the growth of the gum and wood chemicals market. Gum Arabic is a natural and flexible ingredient used in food, drinks, and chemical products. Gum Arabic is produced in African nations and is mainly used in the food industry. Additionally, it is used as a stabilizer, binder, and emulsifier in soft drinks, wine, and liquor. It also finds its applications in pharmaceuticals, cosmetics, printing, ceramics, photosensitive chemicals, textiles, paper, ink, paints, and adhesives. For instance, according to the Observatory of Economic Complexity (OEC), a leading data visualization tool for international trade data, gum Arabic was the 3187th most traded good in the world in 2021, with $363M in total trade. Exports of gum Arabic increased by 7.33% between 2020 and 2021, from $338 million to $363 million. Thus, the rising demand for gum Arabic contributed to the growth of the gum and wood chemicals market.
Competitive Landscape:
Major companies operating in the gum and wood chemicals market include Royal Oak Enterprises LLC, Abbey Color Inc., Borregaard AS, Braai Star Charcoal, E & C Charcoal (Pty) Ltd, Georgia-Pacific Chemicals LLC, Kraton Corporation, WestRock Company, International Paper Company, Rayonier Advanced Materials Inc., Weyerhaeuser Company, Mercer International Inc., Domtar Corporation, Resolute Forest Products Inc., Sappi Limited, UPM-Kymmene Oyj, Mondi plc, Stora Enso Oyj, Suzano SA, Fibria Celulose SA, Klabin SA, Arauco North America Inc., Empresas CMPC SA, Eldorado Brasil Celulose SA, Asia Symbol (Shandong) Pulp and Paper Co. Ltd., Nine Dragons Paper Limited, Lee & Man Paper Manufacturing Limited, Shandong Chenming Paper Holdings Limited, Svenska Cellulosa Aktiebolaget SCA, Metsä Group, Nippon Paper Industries Co. Ltd., Oji Holdings Corporation, Rengo Co. Ltd., Daio Paper Corporation, Hokuetsu Corporation
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Top Trend - The Heubach Group Launches Hostatint Sa, Elevating Wood Finishes With Advanced Pigment Preparations
The companies in the gum and wood chemicals market are focusing on the launch of new products to improve their product portfolio and strengthen their market position. The launch of new products enables the companies in the market to protect wood and enhance its natural beauty. For example, in January 2023, The Heubach Group, a Germany-based provider of comprehensive color solutions, launched Hostatint™ SA, the latest advanced pigment preparations for luxurious wood finishes. As such Hostatint™ SA preparations do not require special labelling, making them perfect to replace traditional dyes. The re-formulated Hostatint™ UV 100 product range is the next generation of high-performance colorants for UV-cured wood coatings.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Gum And Wood Chemicals Market Characteristics
3. Gum And Wood Chemicals Market Trends And Strategies
4. Gum And Wood Chemicals Market - Macro Economic Scenario
5. Gum And Wood Chemicals Market Size And Growth
…..
27. Gum And Wood Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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