Pine-Derived Chemicals Market Size, Share, Industry Analysis, Segments And Forecast To 2033

The pine-derived chemicals market size has grown strongly in recent years. It will grow from $5.46 billion in 2023 to $5.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to renewable and sustainable raw material, expanding industrial applications, rising environmental regulations, shift towards green chemistry, innovations in extraction and processing, development of biomass-based economy, widespread use in cleaning and surfactants.

The pine-derived chemicals market size is expected to see strong growth in the next few years. It will grow to $7.3 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to expansion of pine-derived biochemicals market, increased utilization in agriculture, growing demand for pine oil, innovation in pine resin applications, global adoption of pine-derived terpenes. Major trends in the forecast period include bio-based resins and polymers, expanding applications in adhesives and sealants, antioxidants and health products, pine-derived terpenes in pharmaceuticals.

Market Overview -
Pine-derived chemicals refer to co-products obtained during the distillation of pine trees in the papermaking process that are transformed into essential components for use in various applications such as paints, adhesives, and so on.

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Growing Environmental Concerns Fuel The Demand For Pine-Derived Chemicals
Growing environmental concerns are expected to propel the pine-derived chemicals market going forward. Environmental concerns refer to processes involved in preserving the land, sea, air, plants, and animals that make up the natural world. Growing environmental concerns have resulted in the increasing use of plant-based pine chemicals instead of traditional chemical synthesis methods, as synthetic chemicals cause environmental pollution. For instance, in January 2021, according to a report published by the United Nations Development Programme, a US-based United Nations agency, a survey conducted in 50 countries revealed that individuals with higher education levels were more likely to recognize the climate emergency, irrespective of their country's income level. Younger age groups, with 65% of those aged 18-35, were particularly concerned, but a significant majority of those aged 36-59 (66%) and those over 60 (58%) also acknowledged the climate emergency. This suggests a growing consensus on the urgency of addressing climate change worldwide. Therefore, growing environmental concerns are driving the growth of the pine-derived chemicals market.

Competitive Landscape -
Major companies operating in the pine-derived chemicals market report are Eastman Chemical Company, Ingevity Corporation, Florachem Corporation, Harima Chemicals Group Inc., L'entreprise française DRT, Georgia-Pacific Chemicals LLC, Swati Menthol & Allied Chemicals Ltd., Privi Speciality Chemicals Limited, Arboris LLC, PineChemical Group Oy, SunPine AB, Lawter Inc., Safeguard Chemical Corporation, Arakawa Chemical Industries Ltd., Kraton Corporation, WestRock Company, Forchem Oy, International Flavors & Fragrances Inc., Foreverest Resources Ltd., Takasgo International Corporation, Chemiplas Australia Pty. Ltd., Wuzhou Sun Shine Forestry and Chemicals Co., Mercer International Inc., OOO Torgoviy Dom Lesokhimik, Respol Resinas SA, Synthomer plc, Capsa Solutions LLC, Cerner Corporation, Omnicell Inc., Parata Systems LLC, Rxsafe LLC

Growing Emphasis On Facility Expansion In The Pine-Derived Chemicals Market
Facility expansion is a key trend gaining popularity in the pine-derived chemicals market. The manufacturers in this market are focusing on expanding their facilities to produce better products to meet the market demand. For instance, in August 2023, Pine Chemical Group, a Finland-based provider of pine-derived chemicals, announced an expansion of its production site in Kotka. At the facility, the company plans to produce a range of specialty fats for use in chocolates, coatings, fillings and compounds, spreads, bakery fats, and other applications. The company offers a range of products, including crude oil, tall oil pitch, and pitch fuel. These products are fully certified according to existing regulations, including REACH and ISCC.

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Key Segments -
The pine-derived chemicals market covered in this report is segmented -
1) By Type: Tall Oil Fatty Acid, Tall Oil Rosin, Gum Turpentine, Gum Rosin, Sterols, Pitch, Other Types
2) By Process: Kraft, Tapping, Pulpmills
3) By Source: Living Trees, Dead Pine Stumps and Logs, By-Product Of Sulfate Pulping
4) By Application: Adhesives and Sealants, Paints and Coatings, Surfactants, Printing Inks, Perfumes, Fragrances, and Cosmetics, Food Additives, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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