H1 2023: Gum Rosin prices went up and down in the Asia Pacific region in H1 2023. In the early and middle part of Q1, prices experienced a decline due to subdued buying sentiments and abundant market supplies. Operating rates in China remained moderate, driven by weak consumption from downstream industries. Additionally, the market growth of Gum Rosin was impeded by modest cost pressures from feedstock pine woods and increasing interest rates over recent quarters. Demand from downstream sectors like adhesives, paints, coatings, and rubber industries faced a slowdown both domestically and internationally, with market participants noting limited new orders from end-users. However, manufacturers adjusted their low-price quotations in the market, influenced by adequate inventories of the product. Gum Rosin prices experienced fluctuations in the Chinese market throughout the second quarter of 2023. Early in Q2, prices surged due to elevated Pinewood prices, driven by increased demand from the automotive sector domestically and internationally. However, by the end of Q2, Gum Rosin prices witnessed a notable decline. Oversupply of Pinewood feedstock constrained positive developments, and the Labour Day holidays contributed to weak market sentiments and limited operations. Economic contraction in China particularly in major manufacturing sectors like construction, hindered overall market growth. Despite moderate demand from sectors such as printing inks, paper, and automotive, ample stocks of Gum Rosin weighed on prices. Additionally, reduced inflation rates further contributed to the downward pressure on Gum Rosin prices.
The global Gum Rosin market stood at approximately 590 thousand tonnes in 2022 and is anticipated to grow at a healthy CAGR of 3.12% during the forecast period until 2032.
Gum Rosin, derived from pine trees, is a versatile natural resin with widespread applications across diverse industries. In the realm of adhesives and sealants, it stands as a crucial component, imparting tackiness and adhesive qualities. Its presence is notable in the formulation of printing inks, where it enhances viscosity and adhesion. Additionally, Gum Rosin plays a pivotal role in the manufacturing of paints and coatings, acting as a binder and elevating coating adhesion. In the rubber industry, it aids in improving the processing characteristics of rubber compounds. The pharmaceutical sector benefits from Gum Rosin, finding application in certain traditional medicines. Its versatility extends to the soap and detergent industry, contributing to product formulations. Furthermore, the paper industry employs Gum Rosin to enhance paper gloss and mitigate ink penetration issues. In some cases, it is introduced into the food industry as a stabilizing and texturizing agent. The electronic industry also incorporates Gum Rosin in the creation of soldering fluxes.
The increasing utilization of gum rosin across diverse sectors, including adhesives, paints, coatings, inks, and paper, is propelling the global market forward. Its growing significance is underscored by the rising demand for sustainable and natural additives in various industries. As the automotive production rate and the global construction and building industry thrive, the demand for gum rosin in adhesive applications is poised for substantial growth. The global Gum Rosin market size is anticipated to reach nearly 670 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Gum Rosin. In the forthcoming period, the Asia Pacific region is poised to secure a substantial market share in the gum rosin industry. This anticipated dominance is driven by the region's robust industrialization, particularly in sectors such as adhesives, coatings, and printing inks, wherein gum rosin plays a pivotal role. The surge in construction and infrastructure development, coupled with the flourishing automotive production landscape, further propels the demand for gum rosin-based applications. Key contributors to this trend are emerging economies, notably China and India, where economic growth fuels increased consumption. Additionally, the market is influenced by the growing preference for sustainable solutions, aligning with the eco-friendly attributes of gum rosin, positioning the Asia Pacific region as a focal point for market share expansion.
Based on the end-user industry, the global Gum Rosin market is divided into Adhesives & Sealants, Printing Inks, Paper Sizing, Paints & Coating, Soaps & Detergent, and Others. However, Adhesives & Sealants industry dominates the global Gum Rosin market followed by Printing Inks industry.
Major players in the Global Gum Rosin market are Arakawa Chemical Industries Ltd, DRT (Dérivés Résiniques et Terpéniques), Finjetchemical Co. Ltd, Forestar Chemical Co. Ltd, Foreverest Resources Ltd, Guangxi Dinghong Resin Co. Ltd, Guangxi Tone Resin Chemical Co. Ltd, Harima Chemicals Group Inc., Kemipex, KH Chemicals, Novotrade Invest AS, PT INDOPICRI (Indonesia Pine Chemical Industry), and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Gum Rosin which covers production, demand and supply of Gum Rosin market in the globe.
• To analyse and forecast the market size of Gum Rosin
• To classify and forecast Global Gum Rosin market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Gum Rosin market in the globe.
To extract data for Global Gum Rosin market, primary research surveys were conducted with Gum Rosin manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Gum Rosin market over the coming years.
ChemAnalyst calculated Gum Rosin demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Gum Rosin. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Gum Rosin manufacturers and other stakeholders
• Organizations, forums and alliances related to Gum Rosin distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Gum Rosin manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Gum Rosin market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
490 thousand tonnes
Market size Volume in 2032
670 thousand tonnes
Growth Rate
CAGR of 3.12% from 2023 to 2032
Base year for estimation
2022
Estimated Year
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Adhesives & Sealants, Printing Inks, Paper Sizing, Paints & Coating, Soaps & Detergent, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Gum Rosin in terms of volume in 2022?
Ans:
The global market size of Gum Rosin had reached approximately 490 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Gum Rosin?
Ans:
Asia Pacific region is the leading consumer of Gum Rosin globally.
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