Pine Derived Chemicals Market Expected to Expand at a Steady CAGR through 2026
Global Pine Derived Chemicals Market: Drivers and Restraints
The chemicals derived from pine trees are naturally occurring and thus environmentally friendly. Their use results in lower carbon dioxide emissions as compared to those from use of traditional sources. In the recent past, extensive use of products derived from crude oil and natural gas have led to increased pollution and environmental concern. Hence, there is a pressing need to decrease the consumption of fossil fuels in order to reduce carbon footprints and carbon dioxide emission. Thus, demand for these eco-friendly pine derived chemicals is expected to witness a steady growth over the forecast period. Pine trees, the source of these pine derived chemicals do not occur abundantly across the globe but are concentrated in regions of North America, Latin America, and in some European & Asian countries. As such, the limited availability is expected to create a challenge to the growth of the global pine derived chemical market during the forecast period.
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Global Pine Derived Chemicals Market: Segmentation
The global pine derived chemical market is segmented on the basis of application, type and geographical region.
Based on the type of chemical, global pine derived chemical market is segmented in to the following key market segments:
Tall Oil Rosin (TOR)
Tall Oil Fatty acid (TOFA)
Also depending on the End-use industry, the global pine derived chemical market is segmented as below:
Adhesives & paints
Paper and pulp
Global Pine Derived Chemicals Market: Regional Outlook
The global pine derived chemical market is segmented on the basis of geography into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, Asia-Pacific (excluding Japan) and Japan. North America region has a strong presence in global pine derived chemical market followed by Asia Pacific. The United States accounted for the largest share in global pine derived chemicals market. Increasing demand for environmentally friendly products in order to reduce the carbon footprints is expected to drive the global pine derived chemical market during the forecast period.
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Global Pine Derived Chemicals Market: Key players
key players operating in global pine derived chemical market are as follows:
Eastman Chemical Company
Ingevity (MeadWestvaco Corporation)
Arizona Chemical Company, LLC
Georgia-Pacific Chemicals, LLC
Harima Chemicals Group
Arakawa Chemical Industries, Ltd.
Foreverest Resources Ltd.
Mentha and Allied Products Pvt. Ltd.
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