The global pine-derived chemicals market size is expected to reach USD 7.9 billion by 2030, according to a new study by Polaris Market Research. The report “Pine-Derived Chemicals Market Share, Size, Trends, Industry Analysis Report, By Source (Solid, Solvent); By Type; By Application; By Process; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Pine tree chemicals occur naturally and are hence ecologically beneficial. Compared to traditional sources, their utilization results in decreased carbon dioxide emissions. In recent years, the growing usage of crude oil and natural gas products has contributed to rising emissions and environmental challenges. As a result, there is an increasing need to limit fossil fuel usage to reduce carbon footprints and carbon dioxide emissions.
The technology sector is rising, and the demand for new and inventive materials comes with it. One such substance is obtained from pine trees. Chemicals in pine trees are being exploited to develop new and improved technology. Pinene is one such compound. Pinene is a hydrocarbon present in pine needles and other coniferous plants. It has a distinct turpentine-like odor. Pine is useful as a solvent, antioxidant, and scent enhancer. Terpineol is another chemical found in pine trees. Terpineol is a terpene alcohol found in various plants, including citrus fruits and rosemary. Terpineol has a pleasant aroma and is utilized as a fragrance ingredient. It has anti-inflammatory qualities as well.
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Owing to these expanded uses, the need for pine-derived compounds is increasing in the chemical industry and is expected to rise further in the years ahead. Likewise, as fossil fuel usage rises, so do carbon dioxide emissions and carbon footprints. The growing need to reduce carbon emissions encourages the adoption of more ecologically responsible pine-derived compounds, fueling the expansion of the pine-derived chemicals market.
Growing environmental concerns will primarily drive the demand for pine-based compounds. In addition, there is rising demand from the vehicle sector, particularly in Europe. The increased use of pine-derived compounds in the personal care business is increasing total sales. The biofuel business and biotechnology breakthroughs are also important drivers.
Pine-Derived Chemicals Market Report Highlights
- North America will be the dominating region in the global market in 2021. The region’s dominance is attributed to factors such as the presence of well-established players and advancements in R&D.
- By Type, tall oil fatty acid accounted for a significant market revenue share in 2021. Tall oil fatty acid (TOFA) is used across major applications and is not chemically modified, raising the demand.
- By application, adhesive and sealants is the largest category owing to their versatility and increasing end-use across the automotive and construction sector.
- In the process, tapping is projected to be the fastest-growing segment. Tapping is a world-famous technique that has been evolving since the 90s; however, an inefficient tapping could lead to the rapid exhaustion of forest resources.
- Key players in the global market include Florachem, Foreverest Resources, Eastman Chemical, Forest Chemical, Forchem Oyj, Ingevity Corp., Kraton Corp., Arakawa Chemical, Sun Shine Forestry, and Harima Chemicals.
Polaris Market Research has segmented the pine-derived chemicals market report based on type, source, process, application, and region:
Pine-Derived Chemicals, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Tall oil fatty acid
- Tall oil rosin
- Gum turpentine
- Gum rosin
Pine-Derived Chemicals, Source Outlook (Revenue – USD Billion, 2018 – 2030)
- Living trees
- Dead pine stumps & logs
- By-Products of sulfate
Pine-Derived Chemicals, Process Outlook (Revenue – USD Billion, 2018 – 2030)
- Pulp Mills
Pine-Derived Chemicals, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Adhesives & sealants
- Paints & Coatings
- Printing inks
- Perfumes, Fragrances, and Cosmetics
- Food Additives
Pine-Derived Chemicals, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa