Global Gum Rosin Market is expected to reach USD 2.49 billion by 2024. Gum rosin is a natural solid form of pine oleoresin obtained from the pine trees. It is also known as “colophony” due to its range of colors from yellow to black. It is a raw material used in industries. It is exclusively used as coating material for release of control fertilizer. It is an organic compound of resin acid, monoterpene, and turpentine. The Gum Rosin Market is estimated to grow at a significant CAGR of 3.3% over the forecast period as the scope and its applications are rising enormously across the globe.
Growing
demand from end users like printing inks and synthetic rubber, vast growth of
adhesive and synthetic rubber industries, high demand for high-grade gum rosin
products, and availability of low cost labor are documented as the major
factors that are estimated to enhance the growth in the years to come. However,
unfavorable weather conditions may restrain the overall market growth in the
years to come. Gum Rosin Market is segmented based on product type,
application, and region.
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K,
WW, M, WG, XN, and the other product types could be explored in Gum Rosin in
the forecast period. WW gum rosin sector accounted for the substantial market
share of Gum Rosin and is estimated to lead the overall market in the upcoming
period. In terms of revenue, the sector is estimated to grow at a significant
CAGR in future.
The
market may be categorized based on application like synthetic rubber industry,
foodstuff industry, metal processing industry, papermaking industry, paints and
coating industry, construction materials industry, printing ink industry,
bactericide industry, and others.
Globally,
Asia Pacific accounted for the substantial market share of Gum Rosin and is
estimated to lead the overall market in the coming period. This may be because
of high demand from developing countries and presence of key manufactures in
the region. China is a major producer & consumer of Gum Rosin with
significant market share in terms of volume in this region. This may be because
of developing industries like paper sizing, printing inks, adhesives, and
synthetic rubber in the country.
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The
key players of Gum Rosin Market are DeqingYinlong Industrial, CeluloseIrani SA,
Pasadena Engineering Indonesia, Wuzhou Pine Chemicals, Forestarchem, Forestar
Chemical Co. Ltd., Wuzhou Sun Shine Forestry & Chemicals, Indonesia Pinus,
and Xinhui Overseas Chinese Industry. These players are concentrating on
inorganic growth to sustain themselves amongst fierce competition.
Market
Segment:
Product
Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
• WW
• WG
• XN
• M
• K
• Others
Application
Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
• Rubber Softener
• Adhesives
• Paper Sizing
• Thermoplastic coatings
• Food
• Inks
• Others
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