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.
Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/pine-derived-chemicals-market/request-for-sample
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
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)
Pine-Derived Chemicals, Source Outlook (Revenue - USD Billion, 2018 - 2030)
Pine-Derived Chemicals, Process Outlook (Revenue - USD Billion, 2018 - 2030)
Pine-Derived Chemicals, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Pine-Derived Chemicals, Regional Outlook (Revenue - USD Billion, 2018 - 2030)