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Pine-derived chemicals are extracted from the pine tree, are bio-based renewable chemicals. These chemicals are derived through the carbonization of wood and the distillation of oleoresin. Also, the majority of distilled products are prepared from stumps, gum, sulfate pulp by-products, and logs. During the papermaking process, chemicals from pine trees are gained as co-products of the pulping process in the form of crude sulfate turpentine and crude tall oil. In addition, the product such as creosote, charcoal, methanol, essential oils, tannin, phenol, and medicinal are obtained by the wood carbonization process. The pine-derived chemicals find their use in adhesives, resins, surface coatings, printing inks, soaps & detergents, plasticizers, and fragrance chemicals.
The increasing Co2 emissions caused by natural gas and crude oil and rising stringent environmental regulation are some of the factors that led the manufacturer to come with a sustainable choice. Thereby raise the production of pine-derived bio-based chemicals. Due to this, the product demand has increased in various applications such as adhesives, resins, and fragrance chemicals. Furthermore, gum rosin, prepared from the oleoresin of trees is utilized to enhance plasticity, adhesives viscosity, and strength. Hence, these factors will boost the consumption of pine-derived chemicals and fuel market growth during the forecast timeline.
However, fluctuation in the prices of pine-derived chemicals impacts the overall demand and restricts its adoption in various applications. Hence, this is anticipated to hamper the market growth.
Key Market Driver -
The rising demand for environmental friendly chemicals will drive the market growth.
Key Market Restraint -
Fluctuation in the prices to hamper the market growth
Based on type, the pine-derived chemicals market is segmented into tall oil fatty acid, tall oil rosin, gum turpentine, gum rosin, sterols, pitch, and others. Based on process, the market is segmented into kraft, tapping. Based on application, the market is segmented into adhesives & sealants, paints & coatings, surfactants, printing inks, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is anticipated to witness the highest and fastest growth in the pine-derived chemicals market. The growth is attributed to the rising product demand from the adhesive & sealant application. The increasing adoption of sterols and gum rosin in the printing inks will fuel the market growth in the Asia Pacific, in which China and India are the leading countries. In Europe, the growth is due to, increasing use of the product in the paints & coatings application. The Middle East & Africa is anticipated to witness significant growth, owing to the adoption of the tall oil rosin in the surfactant application.
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