U.S. Gum Rosin Market Size, Share & COVID-19 Impact Analysis, By Application (Paper Sizing, Printing Inks, Adhesives, Rubber, and Others), and Country Forecast, 2023-2030

The U.S. gum rosin market size was worth USD 417.3 million in 2022 and is projected to record a CAGR of 5.2% during the forecast period.

Gum rosin, also known as colophony, is a natural material obtained from pine trees. It is semi-transparent with color depending on its purity, ranging from yellow to black. Its chemical constituents include several rosin acids. The product is widely used in several end-use industries, including automotive, print media, education and entertainment, packaging, and food & beverages for different applications, including paper sizing, printing inks, adhesives, rubber, etc.

The market was significantly impacted by the COVID-19 pandemic owing to the disruptions in supply chains due to restrictions on movement. In addition, the lowering of international trade volume and reduced activities of the major end-use industries negatively impacted the market during the pandemic. However, in the post-pandemic period, the surge in demand for the product for adhesives, rubber and paper sizing applications is anticipated to boost the U.S. market during the forecast period.

U.S. Gum Rosin Market Trends

Increasing Demand for Sustainable Products to Present Lucrative Opportunities for Market Growth

Gum rosin is a sustainable resin product derived from pine trees by the pine-tapping process. Moreover, synthetic resins are produced from crude oil-based petroleum products and are associated with significant carbon emissions. In contrast, gum rosin is derived from renewable sources, and the process does not involve carbon emissions. The sustainability offered by the product has led to a rise in its demand from several end-use industries, which helps them comply with environmental regulations, presenting lucrative opportunities for the U.S. gum rosin market growth.

U.S. Gum Rosin Market Growth Factors

Growing Demand for Adhesives and Printing Inks to Drive the Market Growth

The U.S. is witnessing significant growth in the automotive, paints & coatings, building & construction, and packaging industries, leading to a rise in demand for adhesives. Gum rosin is effectively used in adhesive formulations. Its effective binding properties help in the formulation of adhesives with improved strength and viscosity, which have higher demand from the construction and automotive industries. Moreover, gum rosin bonds offer thermal stability, excellent durability, and greater polarity, leading to their increased adoption in the machinery, electronics, furniture, and footwear industries, driving market growth.

Furthermore, gum rosin is widely used in printing ink formulations. The synthetic alternatives used are volatile and lack the desired stickiness. In contrast, the gum rosin imparts better stickiness and contributes to efficient printing, hence it is preferred over conventional products. Therefore, the growing print media industry in the U.S. and technological developments in the different end-use industries are anticipated to drive market growth.

RESTRAINING FACTORS

Availability of Substitutes May Hamper the Market Growth

The availability of substitutes such as tall oil resin and petroleum-based resins is anticipated to restrain the market growth. Tall oil resin is obtained by Kraft pulping by distillation of tall crude oil and is widely used in printing inks as an alternative to gum rosin. In addition, relatively low-cost petroleum-based resin solutions, including C5 and C9 resins and dicyclopentadiene, are used as substitutes for adhesive and rubber applications of the gum rosin. Therefore, the availability of readily available substitutes is likely to restrain the growth of the U.S. market.

U.S. Gum Rosin Market Segmentation Analysis

By Application Analysis

Based on application, the U.S. market is segmented into paper sizing, printing inks, adhesives, rubber, and others.

The adhesives segment held the largest U.S. gum rosin market share in 2022. The growing automotive and building & construction industries in the country is the major factor behind the higher demand for the product for adhesives. The wider adoption of gum rosin in high-quality adhesives owing to the rising preference from these industries is further expected to drive the segment growth. Moreover, the better stickiness offered by the product is the factor surging its demand for paper sizing and printing ink applications.

In rubber applications, the product is preferred as a low-cost tackifier and softener for belts, hoses, moulded goods, footwear, and flooring goods. Rising environmental regulations regarding the adoption of sustainable products are anticipated to drive the product demand for rubber applications.

List of Key Companies in U.S. Gum Rosin Market

Key companies operating in the U.S. gum rosin market are the established players with considerable production capacities. Prominent players operating in the market include Harima Chemicals Group, United Resins SA, GUM CHEMICAL SOLUTIONS, Forestar Chemical Co. Ltd., GUILIN SONGQUAN FOREST CHEMICAL CO. LTD., IRANI PAPEL E EMBALAGEM S.A., Jinggu Forestry Chemicals, CV. INDONESIA PINUS, Floripinus Chemical Industries, PT. Naval Overseas, and the Pinus Brasil Group. Major players are engaging in strategic expansions and securing supply agreements with the key end-users in the market.

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 study report thoroughly examines key factors, such as leading companies, products, and applications. It also provides market insights on the latest trends and highlights significant industry advancements. The study also includes different variables that have contributed to the market's growth in recent years. It examines the industry's newest market dynamics, opportunities, historical data, and revenue growth estimates at the country level.

Report Scope & Segmentation