Biobased Material Demand Set the Pine Derived Chemical Market Rise in Motion

The pine-derived chemical market, commonly known as the co-product of the papermaking process, is estimated to face an elevated fate ahead. Analysis done by Future Market Insights shows that the pine-derived chemical industry possessed a year-on-year (YOY) growth of 3.8% to total global sales of USD 5.5 billion in 2022. With a CAGR of 4.4%, in 2032 the pine-derived chemical is forecasted to reach USD 8.4 billion. Not only for its wide array of applications, but the growth of pine-derived chemicals also owed to the rising demand for green chemicals as the environmental concern of various industries rise. As reported, Crude Tall Oil, Turpentine, and Gum Rosin are the key products that contribute to the market growth.

Crude Tall Oil (CTO) is famous for its resilience and durability to withstand climate change, abrasion, and compression. This material is used as binders in pavement making, cement, and other applications. CTO is also used as feedstock for biodiesel production. As demand for biofuels increases, so is the chance to grow for CTO as the feedstock. In accordance with the American Chemistry Council, the demand for CTO-based biofuels is expected to advance to 0.88 million tons per year by 2030.

The turpentine market is expected to be thriving with the fragrance manufacturers, followed by cosmetics companies as the industries to continue accounting for maximum volume sales. Changing preference towards natural materials from petroleum across the cosmetics and personal care industry is suspected to propel the sales of turpentine. As reported by Future Market Insights, the global turpentine market is forecasted to have an incremental dollar opportunity of USD 1.05 billion by the end of 2022 and a CAGR of 6.1%. The consistent alpha-pinene, beta-pinene, 3-carene, limonene, and a few other popular aromatic compounds’ high demand will remain as the booster for turpentine consumption. Furthermore, a few ongoing research shows 3-carene ability as the building blocks for polyamide and alpha-pinene as a potential biobased material for plastics. With those discoveries, the turpentine market will only be jacked up further soon.

The gum rosin market is projected to reach a market value of USD 1.97 billion during the forecast period and a CAGR of 4.7%. The growing demands for biobased material from adhesive and decorative paints are the prime factor expected to drive the gum rosin market forward. For its ease of dissolving in alcohol, gasoline, etc. gum rosin is used as a basic ingredient in paints. The growing demand for biobased coating plays an impactful role in the progressing market of gum rosin. While gum rosin’s purpose in adhesives is to enhance softness, strength, and adhesion. According to Globe Newswires, in 2021 the gum rosin segment dominated the market with the largest market share of 17% and revenue of 0.83 million, while the application segment is dominated by the paints and coatings with the largest market share of 24% and revenue of 1.17 billion.??

The growing need to diminish fossil-fuel consumption to lessen carbon footprint and carbon dioxide emissions, propels industries to shift into renewable and green chemicals. As chemicals from pine trees occur naturally, ergo the eco-friendly traits, pine-derived chemicals quickly become the forefront of renewable bio-based industries.

Taking part in the progressing pine-derived market, Tradeasia International comes to provide our customers with a broad range of pine-based materials. Tradeasia International also offers numerous materials for other industries, appropriate for the paint and coating industry, food chemical industry, and many more.

Offering a seamless supply chain experience, Tradeasia International also provides optimized logistic services, especially ocean freight for containerized shipments supported by Sree Logistics.

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References:

Future Market Insights (2022, September 29). Market Insights on Pine-Derived Chemicals covering sales outlook, demand forecast & up-to-date key trends. Retrieved from https://www.futuremarketinsights.com/reports/pine-derived-chemicals-market

Facts and Factors. (2022, September 29). Global Pine-Derived Chemicals Market Share Is Expected To Grow At A CAGR Of 4.20% By 2028. Retrieved from https://www.fnfresearch.com/news/global-pine-derived-chemicals-market

Knowledge Sourcing Intelligence. (2022, September 29). Pine-Derived Chemicals — Versatile Bio-Based Renewables. Retrieved from https://www.knowledge-sourcing.com/resource/thought-articles/pine-derived-chemicals-versatile-bio-based-renewables

Future Market Insights. (2022, September 29). Turpentine Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth, And Forecast 2022-2027. Retrieved from https://www.industryarc.com/Research/Turpentine-Market-Research-508131

Future Market Insights. (2022, September 29). Market Insights on Gum Rosin covering sales outlook, demand forecast & up-to-date key trends. Retrieved from https://onlinelibrary.wiley.com/doi/full/10.1002/fes3.13#:~:text=Pine%20oleoresin%20is%20a%20complex,%2C%20IPP%20(isopentenyl%20pyrophosphate)

Globe Newswire. (2022, September 29). Pine-Derived Chemicals Market Size to Reach USD 7.15 Billion by 2030, Says The Brainy Insights. Retrieved from https://www.einnews.com/pr_news/589773791/pine-derived-chemicals-market-size-to-reach-usd-7-15-billion-by-2030-says-the-brainy-insights

Tom Morgan. (2022, September 29). Pine sap–based plastic: A potential gamechanger for future of sustainable materials Retrieved from https://phys.org/news/2021-07-sapbased-plastic-potential-gamechanger-future.html

Fraunhofer Institute for Interfacial Engineering and Biotechnology IGB. (2022, September 29). 100 percent biobased, transparent, and thermally stable polyamide. Retrieved from https://phys.org/news/2018-08-percent-biobased-transparent-thermally-stable.html

Paper Age. (2022, September 29). Bio-based Coatings Market by Resin (Alkyd, Polyurethane, Acrylic), Application (Architectural, Transportation, Woodworking, Packaging), Region (Asia Pacific, North America, Europe, South America, Middle East & Africa) - Global Forecast to 2027. Retrieved from? https://www.researchandmarkets.com/reports/5636774/bio-based-coatings-market-by-resin-alkyd?utm_source=BW&utm_medium=PressRelease&utm_code=mx6287&utm_campaign=1741991+-+Global+Bio-based+Coatings+Market+(2022+to+2027)+-+Strategic+Developments+Across+Value+Chain+to+Offer+Opportunities+for+Manufacturers&utm_exec=jamu273prd