Pine-Derived Chemicals Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

Pine-Derived Chemicals Market

According to the report published by Zion Market Research, the global Pine-Derived Chemicals Market size was valued at USD 6,002.14 Million in 2022 and is predicted to reach USD 8,007.99 Million by the end of 2030. The market is expected to grow with a CAGR of 3.67% during the forecast period. The report analyzes the global Pine-Derived Chemicals Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Pine-Derived Chemicals Market industry.

Global Pine-Derived Chemicals Market: Overview

The chemical that is extracted from the pine tree or its part is known as pine-derived chemicals. Various set of industries finds applications of the pine-derived chemicals as these chemicals are obtained from a renewable source. The various industries where these chemicals are used include healthcare sector, adhesives industry, and the construction industry. They are used in various applications such as adhesives, resins, surface coatings, printing inks, soaps & detergents, plasticizers, and fragrance chemicals.

Global Pine-Derived Chemicals Market: Segmentation

The pine-derived chemicals market is globally segmented into type, application, source, and process. On the basis of type, the global market is segregated into tall oil rosin, gum rosin, pitch, CST and its derivatives, tall oil fatty acid, gum turpentine, sterols, and others. Based on the application, the market is divided into paints & coatings, printing inks, food additives, seed coatings, adhesives & sealants, surfactants, and cosmetics additives. Depending on the source, the market is classified into by-products of sulfate pulping, living trees, and dead pine logs & stumps. Based on the process, the market is segmented into tapping and kraft.

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Global Pine-Derived Chemicals Market: Growth Factors

The chemicals that are derived from the pine are natural and hence they are environmentally friendly. Using these chemicals results in low emissions of carbon dioxide as compared to other chemicals, thus increasing the demand for pine-derived chemicals. The use of products that are derived from the natural gas and crude oil leads to pollution and affects the environment in a negative way. To reduce the emissions of the carbon dioxide and the carbon footprints there is an increased need to decrease the consumption of the fossil fuels. This factor is, therefore, increasing the need to utilize more eco-friendly pine-derived chemicals, thus fueling the market growth. The factor that is restraining the market growth is that the pine trees grow only in certain regions, hence making its availability limited.

Global Pine-Derived Chemicals Market: Regional Analysis

Geographically, the pine-derived chemicals are diversified into regions such as North America, Latin America, Europe, Asia-Pacific, and Rest of the World. The region that is dominating the pine-derived chemicals market is North America. Asia Pacific region holds second place in the global market. The factors that contribute to the market growth in the North American region is the availability of the pine trees in this region and US holds the largest share in the global pine-derived chemicals market. Asia Pacific region also holds a very good share of the global market. It is due to the factor that the government is taking initiatives to make use of the environmentally friendly products so that the carbon footprints are reduced.

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