“The global market for gum rosin is projected to grow moderately with a CAGR of more than 2% during the forecast period. Growing demand for bio-based adhesives & sealants and burgeoning paper packaging industry are driving the market growth. On the flip side, the shift of interest towards tall oil rosin-based phenolic resins and unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.
Growth in demand for anti-slip agents for floors in stadiums and emerging applications in the pharmaceutical industry are expected to offer various opportunities for the growth of the market over the forecast period.
The adhesives & sealants segment is expected to dominate the gum rosin market over the forecast period.
Asia-Pacific region is expected to account for the largest share of the market over the forecast period owing to the huge consumption from countries such as China, India, and Japan.
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Key Market Trends
Adhesives and Sealants Segment to Dominate the Market
– For decades, the gum rosin has become one of the vital components of the adhesives & sealants industry value chain as it serves as an excellent tackifier for adhesives.
– Gum rosin is widely used as an ingredient of heat melt adhesives, pressure-sensitive adhesives, and rubber adhesives. This rosin mainly is used to enhance the strength, plasticity, and viscosity of adhesive.
– The gum rosin industry seeks to identify collaboration opportunities and build partnerships with adhesives & sealants industry like food & packaging safety is of concern to adhesives & sealants manufacturers worldwide.
– With increasing concerns related to environmental pollution, and the ability to tailor gum rosin resin according to the desired properties of adhesives, the increasing applications of bio-based adhesives & sealants are likely to increase the market demand for gum rosin in the coming years.
– According to Mordor Intelligence, the bio-based adhesives and sealants are expected to witness a CAGR of more than 4.2% over the forecast period.
Asia-Pacific Region to Witness a Downtrend
– As of now, Asia-Pacific dominated the global gum rosin market. But the gum rosin industry is taking downtrend from the past few years and is expected to continue the same trend over the forecast period owing to the headwinds in the major demand pullers like China and India.
– Although the production output has decreased hugely, china still remained the largest gum rosin production country with approximately 52% share in 2019. Moreover, China is also the largest consumer of gum rosin globally in the current position with nearly 50% of the global share in 2019.
– Coating & adhesive resins disproportionated rosin and ink resins as the major product segments of the gum rosin market in the country which alone contributes nearly 70% of the market demand in 2019.
– The Chinese gum rosin industry has taken a downtrend since the year 2008 after reached up to the top in 2006 and 2007. Till 2018 gum rosin production output decreased by 50% compared to 2008.
– It is speculated that almost half of the existing gum rosin plants could be shut down over the forecast period as more crude gum rosin is being imported into China. This scenario might result in an integration through mergers and recombination, which may lead to the more centralized gum rosin industry.
Competitive Landscape
The global gum rosin market is highly fragmented in nature with a few major players contributing an only minor chunk of the market. Some of the major companies are Guangxi Dinghong Resin Co., Ltd., Finjetchemical CO., LTD., Foreverest Resources Ltd., Arakawa Chemical Industries, Ltd., and DRT (Dérivés Résiniques et Terpéniques).
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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand for Bio-based Adhesives and Sealants
4.1.2 Burgeoning Paper Packaging Industry
4.2 Restraints
4.2.1 Shift of Interest towards Tall Oil Rosin based Phenolic Resins
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Paper Sizing
5.1.2 Printing Ink
5.1.3 Adhesives and Sealants
5.1.4 Rubber
5.1.5 Paints and Coatings
5.1.6 Others
5.2 By Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Arakawa Chemical Industries,Ltd.
6.4.2 DRT (Dérivés Résiniques et Terpéniques)
6.4.3 Finjetchemical CO.,LTD
6.4.4 Forestar Chemical Co.,Ltd.
6.4.5 Foreverest Resources Ltd.
6.4.6 Guangxi Dinghong Resin Co.,Ltd.
6.4.7 GUANGXI TONE RESIN CHEMICAL CO.,LTD
6.4.8 Harima Chemicals Group Inc.
6.4.9 KH Chemicals
6.4.10 Novotrade Invest AS
6.4.11 PT INDOPICRI ( Indonesia Pine Chemical Industri )
6.4.12 Silver Fern Chemical Inc.
6.4.13 United Resins
6.4.14 Wuzhou Sunshine Forestry and Chemicals,Co,.Ltd (WSSFC)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growth in Demand for Anti-slip Agents for Floors in Stadiums
7.2 Emerging Applications in Pharmaceutical Industry”
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