Gum Rosin Market Size Increased Application in Adhesives to Fuel Growth at CAGR 5.2%, Value to Touch USD 2.3 Billion by 2032
Acumen Research and Consulting recently published report titled “Gum Rosin Market, 2023 – 2032”
BEIJING, Aug. 09, 2023 (GLOBE NEWSWIRE) — The Global Gum Rosin Market size was valued at USD 1.4 Billion in 2022 and is projected to attain USD 2.3 Billion by 2032 mounting at a CAGR of 5.2% from 2023 to 2032.
The Global Gum Rosin Market is poised for consistent growth in the upcoming years, driven by the widespread utilization of gum rosin across various industries such as adhesives, printing inks, rubber softeners, and paper sizing agents. This comprehensive article delves into the dynamics of the gum rosin market, exploring its growth trajectory, key drivers, potential challenges, regional trends, and the leading players shaping the industry landscape. With gum rosin finding extensive applications in diverse sectors, especially in the adhesives industry, the market is set for positive expansion, catering to the demand for sustainable and natural ingredients.
Gum Rosin Market Key Highlights and Statistics:
- Anticipating a promising CAGR of 5.2% during 2023-2032, the Gum Rosin Market is projected to achieve a substantial value of USD 2.3 billion by 2032 expanding from the current value of USD 1.4 billion in 2022.
- In 2022, Asia Pacific took the lead with a growth share exceeding 6% CAGR between 2023 and 2032.
- Additionally, the water wide (WW) grade segment has a share of USD 690 million in 2022.
- Notably, the development of rosin derivatives and hydrogenated rosins are emerging trends that are gaining traction in the market.
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Gum Rosin Market Report Coverage:
|Gum Rosin Market
|Gum Rosin Market Size 2022
|USD 1.4 Billion
|Gum Rosin Market Forecast 2032
|USD 2.3 Billion
|Gum Rosin Market CAGR During 2023 – 2032
|Gum Rosin Market Analysis Period
|2020 – 2032
|Gum Rosin Market Base Year
|Gum Rosin Market Forecast Data
|2023 – 2032
|By Grade, By Application, And By Geography
|Gum Rosin Market Regional Scope
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|Key Companies Profiled
|DRT (Dérivés Résiniques et Terpéniques), Forestar Chemical Co., Ltd., Guangdong KOMO Co., Ltd., Indonesia Pinus, Ingevity Corporation, IRE, ISEGAUR, Kraton Corporation, Pinova Holdings, Inc., Resinall Corporation, Shanghai Lomon Corporation, and Wuzhou Sun Shine Forestry & Chemicals Co., Ltd.
|Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Gum Rosin Market Outlook and Opportunities:
The market outlook for gum rosin is positive, driven by the increasing demand for natural adhesives and binders, especially from the packaging and paper industries. Gum rosin is favored over petroleum-based ingredients due to the growing consumer preference for natural products. The expansion of the chewing gum production industry also contributes to the market growth. However, concerns related to the sustainability of tapping pine trees for gum rosin extraction may present challenges to the market’s growth. Tapping pine trees can damage the trees and lead to the spread of diseases. Additionally, the harvesting of gum rosin can have a negative impact on the environment, as it can lead to deforestation and the loss of biodiversity. To address these concerns, companies are working to develop sustainable methods of harvesting gum rosin. For example, some companies are using new technologies to tap pine trees without damaging them. Additionally, some companies are working to plant new pine trees to replace those that are harvested. These efforts are helping to ensure that the gum rosin market can continue to grow in a sustainable way.
Gum Rosin Market Major Growth Drivers:
- Wide-ranging Applications: Gum rosin finds extensive use in adhesives, printing inks, and chewing gums, making it a versatile ingredient in various industries.
- Consumer Preference for Natural Ingredients: The rising inclination of consumers towards natural ingredients fuels the demand for gum rosin in applications like adhesives.
- Growth of Packaging Industry: The packaging industry’s growth, along with the rise in e-commerce shipments, boosts the demand for gum rosin as a natural adhesive.
- Advancements in Extraction and Purification: Ongoing advancements in the extraction and purification processes enhance the quality and usability of gum rosin.
- Increased Usage in Soaps, Rubber, and Websites: Gum rosin’s hydrophobic properties drive its adoption in products like soaps, rubber softeners, and even websites.
Gum Rosin Market Key Challenges:
Sustainability Concerns: Sustainable sourcing of gum rosin presents concerns related to the environmental impact of tapping pine trees for resin extraction.
Supply Fluctuations: Climate factors affecting pine growth can lead to supply fluctuations, impacting gum rosin availability.
Oil Price Volatility: The volatility in crude oil prices can influence rosin costs, affecting the market dynamics.
Competition from Tall Oil Rosin: Gum rosin faces competition from cheaper alternatives like tall oil rosin, which may impact market demand.
Tack Retention and Aging Resistance Limitations: Gum rosin’s limitations in terms of tack retention and aging resistance pose challenges in certain applications.
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Gum Rosin Market Segmentation:
Based on the Grades
- Window Glass (WG) Grade
- Water Wide (WW) Grade
Based on the Applications
- Paper Sizing
- Printing Inks
- Adhesives & Sealants
- Soaps & Reagents
- Coating & Paints
Gum Rosin Market Regional Insights:
In 2022, Asia Pacific dominated the gum rosin market, with China and Indonesia leading in production. China accounted for the largest share of the global market, while Indonesia accounted for a significant share as well. The remaining was shared by Europe, North America, and other regions. The gum rosin market is expected to continue to grow in the coming years, driven by increasing demand from the construction, automotive, and paper industries.
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Gum Rosin Market Leading Companies:
Key players making substantial contributions to the Gum Rosin Market include Wuzhou Pine Chemicals, Forestar Chemical Co. Ltd., PT. Naval Overseas, Wuzhou Sun Shine Forestry & Chemicals Co. Ltd., Punjab Rosin and Chemicals Works, Deqing Yinlong Industrial Co. Ltd., and Changhua Rosin (China) International Trading Co. Ltd.
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