In a recent published report, Kenneth Research has updated the market report for Gum Rosin Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Gum Rosin Market products.
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The gum rosin market is estimated to represent a global market of USD 2.06 billion by 2017, growing with 3.5% CAGR over the forecast period,2018-2025
Gum Rosin is a kind of resins that is extracted from pine oleoresin. The global industry is expected to witness a surging growth on account of increasing demand for high-quality intermediates particularly in the real-estate industry and automotive. The most commonly used forms are rubber, coatings, and adhesives. In the years to follow, the market will grow steadily due to rising demand from different application industries such as synthetic rubber, printing inks, and adhesives. In the synthetic rubber industry, gum rosin is utilized as softeners whereas in adhesives they are used as binders. As these applications are quite significant, hence it is easy to project substantial growth in synthetic rubber and adhesive industries.
The impetus for better quality products, and higher output in the construction industry, and automotive could be attributed to the better living standards, increases in disposable income, economic and industrial growth. Thus, over the past few years, there has been a substantial increase in the procurement of gum rosins on the part of industry stalwarts. Emerging economies like India, Brazil, and China are going to be the main countries propelling the industry growth in the years to follow.
Pine oleoresin is one of the premium sources of gum rosin, which in turn is extracted from pine trees. Industry players are making investments and encouraging R&D for bringing about efficiency in the tapping methods and inducing genetic changes in the tree for increasing the flow of resin. The dynamic nature of commodity and increase in raw material prices are the two factors which act as a barrier in the industry.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The largest segment of graded gum rosin product is WW. Some of the core applications of the product are synthetic rubber and adhesive. The products workability and superior quality go to explain its high revenue share. Among all the product segment, WW will exhibit the fastest growth. The steep rise in the demand for binding materials of superior quality particularly in the adhesive segment will escalate the product demand.
Light yellow shades are the most common colors of WG and WW grades. When it comes to preserving the texture and color of end-use products like paper-sizing, adhesives, rubber, and inks they are utilized as the chief constituent materials.
On the basis of application, the industry is divided into adhesives, inks, and rubber. Rising investment in R&D investment works on the part of different market players with the objective of enhancing tapping procedures such that it becomes possible to accomplish higher extraction output of gun rosins. Further, in order to enhance the flow of resins in pine trees differed, research works have been undertaken to bring about genetic modification. In the years to follow, innovation and technological breakthroughs will facilitate the production of high-quality gun resins, which in turn will drive the overall market development.
China is one of the largest consumer and producer of gum rosins. The rapid growth of application industries is one of the common reasons. Mention could be made to paper sizing, adhesives, synthetic rubber, and printing inks. Other countries in Asia like South Korea, Indonesia, India and Latin American countries like Brazil will become a major market of the gum rosin in the years to follow.
End-user industries are experiencing pressure to supply superior quality products thanks to the improvement in living standards and industrial growth. Construction and automotive industries, in particular, are on the receiving end of surging consumer demand.
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Key Vendor Takeaway
The market experienced high fragmentation between 2016-2017, which is because of emergence of manufacturers from Indonesia and Brazil in the global market. Some of the leading companies in the global industry are Indonesia Pinus, CV, Forestar Chem, Wuzhou Pine Chemicals, and Celulose Irani.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
MARKET, BY APPLICATION
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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