Gum Rosin Market Size, Share & Industry Analysis, By Application (Paper Sizing, Printing Inks, Adhesives, Rubber, and Others) and Regional Forecast, 2024-2032

The global gum rosin market size was valued at USD 1.49 billion in 2023 and is projected to grow from USD 1.51 billion in 2024 to USD 2.39 billion by 2032, exhibiting a CAGR of 5.4% during the forecast period. North America dominated the gum rosin market with a market share of 34.9% in 2023. Moreover, the gum rosin market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 663.73 million by 2032, driven by rising demand for adhesives from different end-use industries. 

Gum rosin is a natural bio-based material, also known as colophony, consisting of several rosin acids. It is semi-transparent, the color of which fluctuates from yellow to black. At high temperatures, it becomes sticky and acquires a pine-like odor. Colophony is the solid form of pine oleoresin, obtained mainly from pine trees through pine tapping. It is one of the major pine chemicals produced for commercial use. The chemical extraction converts the rosin to liquid resin, and it is accumulated as residue after the evaporation of volatile fluid components. Rising product use in applications, such as paper sizing, printing inks, adhesives, and rubber, will drive the market. Further, increasing preference for sustainable products from food & beverages, electronics, and agriculture industries will create market growth opportunities.

The COVID-19 pandemic severely affected the major end-use industries of gum rosin globally. Declined production in the major end-user industries, including print media and automotive, and stoppage of building & construction activities decreased the demand for colophony during the pandemic. However, significant control over the spread of the virus and gradual decrease in the cases of COVID-19 from mid-2020 resulted in a gradual recovery of the product’s demand.  

Gum Rosin Market Trends

Rising Demand for Sustainable Products from Several Industries is Driving Market Growth

Colophony is a bio-based product obtained from pine trees. It replaces petroleum-based resins in several applications, and the pine forest acts as a carbon sink for carbon emissions responsible for global warming. 

Currently, petroleum-based resins are employed to manufacture products used in several industries, including building & construction, automotive, print media, and many others. However, producing petroleum-based resin significantly contributes to the increase in carbon emissions. The limited availability of petroleum resources is causing an increase in the prices of synthetic resins. This has increased the demand for products as a substitute for petroleum-based resins. 

Global organizations working to protect the environment are pushing hard to reduce carbon emissions to combat global warming. Several countries across the globe have set targets to become carbon neutral in the near future. For instance, India has set a target to become carbon neutral in 2070. To achieve such targets, there is a need to reduce the consumption of petroleum-based products. Hence, the sustainability offered by gum rosin is anticipated to push its demand from several industries across the globe.

Gum Rosin Market Growth Factors

Increasing Demand from Various End-use Applications is Expected to Drive the Market

The growing application of gum rosin in various sectors, such as adhesives, paints, coatings, inks, and paper, is augmenting the global market. It is becoming a game-changer with increasing demand for sustainable solutions and natural additives in several industries.

The demand for products in adhesive applications will rise significantly with the increasing rate of automotive production and the globally booming construction & building industry. Moreover, the product has significant adoption in the machinery, electronics, furniture, and footwear industries.

Additionally, most colophony is utilized in a chemically altered form rather than in its natural state. It consists mainly of pimaric and abietic acid with small amounts of neutral compounds. This acidity characteristic when combined with other chemical properties lets it transform into many downstream derivatives used in several applications. The products include esters, maleic, salts, anhydride adducts, and disproportionate, polymerized, and hydrogenated rosin. Most of their applications include producing paper adhesives, printing inks, fluxes, solders, various surface coatings, insulation materials for synthetic rubber, electronics industry, chewing gum, detergents, and soaps.

Rising Demand from Rubber Industry to Boost Market Growth

The rising product demand from the rubber industry, owing to its unique properties that enhance the rubber manufacturing process, is anticipated to drive the market growth significantly. It serves as a key ingredient in the production of rubber compounds, where it acts as a tackifier, improving adhesion between rubber particles and reinforcing materials, such as carbon black or silica. This enhances the mechanical properties, such as strength and durability of the rubber products, including tires, footwear, and industrial components. As global industries involving applications of rubber, which mainly include automotive and building & construction, continue to expand, the demand for high-quality rubber products rises accordingly. Additionally, the growing preference for sustainable and renewable materials further boosts gum rosin’s appeal in rubber applications, contributing to the market’s expansion.

RESTRAINING FACTORS

Availability of Alternative Solutions to Restrict Market Growth 

The availability of alternatives, such as tall oil resin, is anticipated to restrict the market growth. Tall oil resin is a byproduct made during kraft pulping by distilling tall crude oil. The resin, made from tall oil resin, is particularly preferred by ink manufacturers due to its high rosin acid properties. Additionally, tall oil resin is less expensive than gum rosin. The rising usage of tall oil as a successful alternative for rosin, especially for packaging printing applications, is anticipated to hamper the growth of the market during the forecast period.

Moreover, readily available low-cost petroleum-based rosin solutions, such as dicyclopentadiene, C5, and C9 resins, offer superior performance estimated to restrain the market growth. Dicyclopentadiene is a byproduct of the steam cracking of gas oils and naphtha to ethylene. The key application is in resins, especially unsaturated polyester resins.

Gum Rosin Market Segmentation Analysis

By Application Analysis

Adhesive Segment to Generate Higher Revenue Due to Rising Demand from Different Industries

On the basis of application, the market is segmented into paper sizing, printing inks, adhesives, rubber, and others. Among these, in 2023, the adhesives segment held the largest market share. Adhesives are substances that hold the materials together in a functional manner. Adhesives bond several substrates, including metals, composites, plastics, wood and wood products, glass and ceramics, and honeycomb structures. The segment is anticipated to retain its position in the near future owing to the rising demand for adhesives from industries, including building & construction, automotive, graphic arts, and packaging. The rapidly growing automotive and construction industries are anticipated to be the key factor driving the demand for colophony-based adhesives.

Paper sizing and printing inks segments held a considerable share of the market owing to the significant growth of the print media industry. Both paper sizing and printing ink applications require a high-quality product, which results in higher prices leading to higher revenue. The others segment includes applications in food & beverages, electronics, and agriculture. Significant growth of the food and beverage industry and digitalization across the globe are anticipated to propel the gum rosin market growth.

REGIONAL INSIGHTS

North America holds the largest gum rosin market share, owing to higher demand for gum rosin for different applications, including adhesives, rubber, paper sizing, and printing inks. The region has a well-developed building & construction and automotive industries, which are the major end-users of colophony. Higher disposable income and rising awareness about sustainability in the region are the factors anticipated to play a key role in driving the market growth.

The market in Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period. Rapidly growing industrialization in the region is anticipated to boost market growth in the region. Emerging economies in the region, including China and India, have witnessed significant expansion in the building & construction and automotive industries in the recent past, which is anticipated to continue during the forecast period.

Europe held a considerable share of the global market. Environmental regulations by the European Union are pushing the use of bio-based products for several applications, including adhesives and rubber to reduce carbon footprint. Such developments are anticipated to play a significant role in the growth of the gum rosin consumption in the region. The rapidly developing automotive industry in the major economies of the region, including Germany, the U.K., and France is a significant contributor to the growth of the market in the region. For instance, according to the European Automobile Manufacturer’s Association, during 2020, the automotive industry contributed over 7% to the total GDP of the European Union.

In the recent past, Latin America witnessed a significant increase in investment in the industrial sector, including building & construction, electronics, automotive, and food & beverages. Rising industrialization in the region is anticipated to affect the market growth in the region significantly. Higher gum rosin production in Brazil and Argentina is anticipated to surge the product demand as a sustainable alternative to petroleum-based resins.

The Middle East & Africa is anticipated to witness significant growth in the market in the near future. The automotive and building & construction industries in the GCC countries and South Africa are anticipated to register a considerable growth rate during the forecast period. Rising investment in the industrial sector is anticipated to impact the market growth in the region positively.

List of Key Companies in Gum Rosin Market

Major Players in the Market are Focusing on Vertical Integration in the Resin Industry

In terms of production, the market is highly consolidated in Asia Pacific and Latin America. Prominent players in the market, including Harima Chemicals Group, Guangxi Sinoinfo IT Co., Ltd., IRANI PAPEL E EMBALAGEM S.A., Floripinus Chemical Industries, and the Pinus Brasil Group are trying to have vertical integration of their business. Vertical integration in the business helps in improving profitability by making quality raw materials easily available at a relatively lower cost for end-use products and better utilization of the workforce. Producers of gum rosin are also engaged in partnerships with international and national distributors of the product across the globe.

LIST OF KEY COMPANIES PROFILED:

• Harima Chemicals Group (Japan)


• United Resins SA (Portugal)


• GUM CHEMICAL SOLUTIONS (Portugal)


• Forestar Chemical Co. Ltd. (China)


• GUILIN SONGQUAN FOREST CHEMICAL CO., LTD. (China)


• IRANI PAPEL E EMBALAGEM S.A. (Brazil)


• Jinggu Forestry Chemicals (China)


• CV. INDONESIA PINUS (Indonesia)


• Floripinus Chemical Industries (Brazil)


• PT. Naval Overseas (Indonesia)


• The Pinus Brasil Group (Brazil)


• AS Resinas (Brazil)


• Costa & Irmãos (Portugal)

REPORT COVERAGE

The research report provides qualitative and quantitative insights on the market share, growth rate, size, and regional analysis by different segments. The report also offers an elaborative analysis of the drivers, restraints, opportunities, and competitive landscape. Key insights, such as PEST analysis and the regulatory scenario, are also covered as part of the scope of the study.

REPORT SCOPE & SEGMENTATION