Rising utilities in the adhesives, printing detergents, soaps and inks, plasticizers, resins, surface coatings, fragrance chemicals, and others are factors driving the global pine derived chemicals market. Growing industrialization, the demand for environment-friendly, and renewable raw materials are the factors driving the demand for pine-derived chemicals. Limited availability poses a challenge to the growth of the global pine-derived chemical market during the forecast period.
The gum rosin segment is leading in the pine-derived chemicals market. The tall oil segment is projected to exhibit growth at a high CAGR. Growing R&D activities, high functional benefits, and multiple applications in adhesives, paints & coatings, ink, rubber, paper, and gum-based candy, and lower synthesis costs along with the possibility of large-scale production.