Gum Rosin Market Size, Share and Growth Forecast by Regions 2021-2024

Posted on 2021-03-11 by researchinsights in Chemicals // 0 Comments

Felton, Calif., USA, Mar. 11, 2021 — /EPR Network/ —

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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Product Outlook (Volume, Tons; Revenue, USD Million, 2013 – 2024)

WW
WG
XN
M
K
Others

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.

Application Outlook (Volume, Tons; Revenue, USD Million, 2013 – 2024)

Rubber Softener
Adhesives
Paper Sizing
Thermoplastic coatings
Food
Inks
Others

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.

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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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