Pune, India -- (SBWIRE) -- 02/28/2018 -- The report on Pine-Derived Chemicals Market by Application(adhesives & sealants, cosmetics additives, food additives, paints & coatings, paper& pulp, printing inks, rubber, surfactants), by Source(sulfate pulping, dead pine logs & stumps), by Type(CST, gum rosin, gum turpentine, pitch, sterols, fatty acid, tall oil rosin) trends analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the Global Pine-Derived Chemicals Market is projected to grow at a CAGR of 5.0% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.

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Pine derived chemicals are bio-based renewable chemicals extracted from pine trees, by wood carbonization or oleoresin distillation processes. Charcoal, creosote, essential oils, methanol, medicinal, phenol, tannin and some other products are obtained by wood carbonization process. Chipping or Kraft pulping process is utilized for extracting the discharged oleoresin from pine trees. For distillation process gums, logs, stumps and byproducts of sulphate pulp are used. Gum rosin, wood rosin, gum turpentine, crude tall oil and some other products are obtained by that process. Pine derived chemicals find applications in various industries for the manufacturing of adhesives, asphalt, cement, coatings, concrete, detergents, fragrances, food additives, detergents, disinfectants, paints, paper, printing inks ,rubber products, soaps, vitamins and some others. Pine derived chemicals have good prospects as bio-based alternative for some of the petroleum based chemicals, due to the government regulations that restrict the use of conventional chemicals, which harm the nature and people.

Mergers and acquisitions, technological partnerships, joint-ventures and heavy investments in research and development, to tap the potential of pine derived chemicals, as an eco-friendly alternative to conventional chemicals , characterizes the global pine derived chemicals market. Increasing health awareness among consumers and need for improving carbon footprint in various industries drive the demand for natural raw materials. As bio-based natural chemicals, with less emission of harmful gases, pine derived chemicals generate more demand, as an alternative for petroleum based chemicals. The stringent governmental regulations regarding the use of chemicals with toxic emission is prompting many industries to adopt eco-friendly pine derived chemicals and it is driving the growth of the global pine derived chemicals. Increasing cultivation of pine trees in major regions drives the demand for pine derived chemicals in sectors such as food, cosmetic and seed additives, due to the increasing preference for natural chemicals. Low manufacturing cost, innovations and advanced technologies drive the demand for tall oil fatty acids, as it has wider applications in industrial sectors such as adhesives, ink, paper, rubber, paint and coatings and some others. Paint and coatings segment is having a dominant market share in the pine derived chemicals market, due to the changing lifestyles, preference for eco-friendly products and stringent environmental regulations. Gum rosin segment is anticipated to attain the highest growth in terms of CAGR in the global pine derived chemicals market during the forecast period 2017-2023.

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Segments Covered

The report covers the analysis of global as well as regional markets of pine-derived chemicals market. Moreover, the global pine derived chemicals market is segmented by application, by source and by type. The global pine derived chemicals market by application covers adhesives & sealants, cosmetics additives, food additives, paints & coatings, paper& pulp, printing inks, rubber, surfactants and some others. On the basis of source, the market is segmented as byproducts of sulfate pulping, dead pine logs & stumps and living pine trees and logs & stumps of dead pine trees. Based on type, the market is segmented as derivatives of CST, gum rosin, gum turpentine, pitch, sterols, tall oil fatty acid, tall oil rosin and some others.

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North America is the Largest Pine Derived Chemicals Market

Asia-Pacific region is the second largest market and it is anticipated to be the fastest growing market in terms of CAGR during the forecast period 2017-2023. USA is the largest producer of pine derived chemicals, due to the presence of large number of pine trees and major manufacturing countries. Increasing demand for the environmental friendly chemicals drives the growth of the North American pine derived chemicals market. Adoption of advanced technologies, rapid urbanization and the increasing disposable income among the population in the region drives the growth of Asia-pacific pine derived chemicals market. Moreover, the polices of various governments for promoting use of environmental friendly products and the increasing demand for bio-based chemicals in China, Japan, India and other major countries in the region drives the growth of the market. European union regulations that promote use of bio-based chemicals , increasing demand for environmental friendly products in European countries such as France, Germany, Italy, United Kingdom and some others drive the growth of the European pine derived chemicals market.