Rosin Resins Market to Reach US$ 3.5 Bn by 2030; Low Demand from End-use Industries amidst COVID-19 Pandemic to Hit Near-term Market Growth
Published On : Aug 12, 2020
In recent years, the adhesives and paints & coatings industry has witnessed robust growth. Increased use of rosin resins in the manufacturing of these products has augmented the global demand for the product. Demand growth in these industries coupled with innovations in production techniques is paving the way for healthy growth of the global rosin resins market over the next decade.
As per PMR analysis, the global rosin resins market is estimated to expand at a CAGR of 5% over the forecast period of 2020-2030.
Key Takeaways from Rosin Resins Market Study
- The global adhesives and sealants market is witnessing vigorous growth from the past few years, driven by disposables and PSA. This growth is estimated to persist over the coming years. Demand for rosin resins squarely grows with the growth of the adhesives and sealants industry.
- The paper industry has shown significant growth across the world, resulting in increased demand for rosin resins.
- With increasing awareness toward personal grooming, cosmetics & personal care products are being widely used, subsequently expected to propel the demand for rosin resins over the forecast period.
- The application of rosin resins is substantially increasing in printing inks, owing to improved solubility, color stability, and less UV absorption, which is expected to positively influence the growth of the rosin resins market.
- Modified rosin resins have improved oxidative stability and color stability, and hence, have wide ranging applications in various end-use sectors.
- Although the extraction of wood rosin requires longer time, it is gaining traction in the market. As a result, the wood resin segment is anticipated to progress at a prominent CAGR over the forecast period.
- China is one of the countries with the fastest growth of pine chemicals, worldwide, with production and demand continuously increasing. Rosin resin manufacturers in China possess very high export potential, and are actively focused for expanding their overseas markets.
- Due to COVID-19-related restrictions across the world, demand for rosin resins from end-use industries has plummeted. As the pandemic comes under control and restrictions are eased, the market will gradually get back to normal.
“Increasing demand for bio-based materials from various industries, wide application range of rosin resins, and their distinctive properties are anticipated to augment demand growth. Competition in the global rosin resins market is anticipated to intensify with manufacturers focusing on the development of innovative production techniques that are more economical and viable,” says a PMR analyst.
Market Landscape Continues to Remain Moderately Fragmented
The global rosin resins market is moderately fragmented at regional and domestic levels. Tier-1 players account for more than one-fourth of the total market share. Some of the leading players included in the report are Eastman Chemical Company, Arakawa Chemical Industries Ltd., Lawter Inc., and Forestar Chemical Co., Ltd., among others. Key market participants are focused on capturing lucrative growth opportunities through collaborations with end-use customers and are continuing to meet targets through sustained operational excellence.
Rosin Resins Market: Conclusion
The global rosin resins market is occupied by a number of manufacturers. Manufacturers are increasing production in their existing production units. Moreover, they are strengthening their global supply systems to meet robust demand. Over the coming years, demand for rosin resins is expected to ascend for their use in adhesives, road marking paints, and other applications. East Asia holds a major portion of the global rosin resins market share. Also, increasing imports from developed countries from North America and Europe are further anticipated to catalyze the growth of the rosin resins market.
Want to Know More?
Persistence Market Research has published a market research report on the rosin resins market that contains global industry analysis of 2015–2019 and forecasts for 2020–2030. The report provides insightful analysis of the rosin resins market through different segments, namely, source, type, application, and region. The rosin resins market report also provides supply and demand trends, an import-export scenario, and a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the value chain.
For additional insights on how the rosin resins market will shape up over the next decade, write to email@example.com
About PMR – Chemicals and Materials
Persistence Market Research’s Chemicals & Materials team is regarded as one of the most reliable and authoritative sources of intelligence among stakeholders across the value chain. Our team of industry experts provides vital insights across a broad range of sub-domains, including, but not limited to, commodity, specialty chemicals, composites, nanotechnology, and institutional cleaning chemicals. PMR’s research and consulting services include market sizing, product and market segmentation, and a detailed discussion on prevailing and anticipated market conditions. Reach out to us for more information on how we can help.
Rosin Resin Market
Global Market Study on Rosin Resins: Rising Demand for Bio-based Products for Various End-use Applications to Ascend Market Growth
Global Market Study on Rosin Resins: Rising Demand for Bio-based Products for Various End-use Applications to Ascend Market GrowthRequest TOC