Market Outlook for Colophony Market:
Colophony is obtained from the resin secreted by the pine tree. It is also known by other names such as gum rosin and Green Pitch. Colophony is a resin which consists of about 70% resin and 30% oil. Colophony is collected from the naturally growing pine trees and by nature, it has volatile and chemically reactive properties when dissolved in organic solvents. Colophony has a panoply of applications for industrial purposes such as in paints, inks, rubber industry, explosives, soaps, adhesives, and as a glazing or coating agent in pharmaceuticals and chewing gums. Its major function is to provide adhesive and binding properties in the products in which it is used. Hence, the adhesive end-use industry occupies a dominant share in the colophony market. Production of colophony is dispersed around the globe which includes regions like Russia, China Brazil, etc. For the collection and processing of colophony, plantation of hybrid pine trees is now standard practice in regions like Latin America and other countries such as China are beginning to follow this practice. In recent times, a higher yield of colophony has become important to the processors to meet demands and stabilize prices of colophony because a shortage of colophony recently cascaded down to an increase in prices of printing inks.
New collection methods for colophony are impacting the market in a significant way
Nowadays the hybrid variant of pine trees has is becoming increasingly common in the colophony supply chain. This is merely due to the fact that the hybrid variant yield more sap as compared to the naturally growing variety. A significant amount of research is being carried out to enhance the flow of colophony sap from the pine trees. This objective is achieved by bringing about genetic changes in the pine trees. These methods are also more sustainable for the colophony processors, as the mature pine trees that need to be replanted every 10 years can now be replanted 20 years. This method of plantation is also very profitable to the colophony processors to meet the growing demands of colophony in the market. These initiatives are further supported by governing bodies such as Pine Chemicals Association (PCA), which is initiating educational campaigns, to encourage the key participants in the colophony supply chain to embrace new methods of collecting and processing colophony. On the other hand, many popular food franchises have raised concerns over the use of food additives such as glycerides, fat substitutes, glycerol ester of colophony, etc. in their food. These initiatives are backed by the increasing consumer demand for clean label food products and may hinder the growth of the colophony market in the food & beverage segment.
Global Colophony Market: Segmentation:
The global colophony market is segmented on the basis of grade, form and end user industry.
On the basis of grade, the colophony market is segmented into-
On the basis of form, the colophony market is segmented into-
On the basis of end user industry, the colophony market is segmented into-
Global Colophony Market: Examples of some of the market participants in the global Colophony market identified across the value chain include include Punjab Rosin And Chemicals Works, Foshan Baolin Chemical Industry Co. Ltd.,Merck KGaA, Iberian Resins, Kantilal Brothers, Shree Resins and Midhills amongst others.
Global Colophony Market: Key Takeaways
In October 2018, the company Kraton Corporation, which is a manufacturer of synthetic rubber, has launched a technical program to develop a next generation rosin ester to achieve improved formulations in the adhesive production.
Opportunities for Colophony Market Participants:
Expansion in the packaging sector will help the growth of the colophony market as the demand for sustainable and bio-based material is projected to grow over the forecast period. Hence, key manufacturers in the colophony market have the opportunity to turn their focus on building a stronger presence in the bio-based packaging industry.
The report covers exhaust analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from Colophony industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of the Colophony. The report also maps the qualitative impact of various market factors on market segments and geographies.