Pine chemicals market size is forecast to reach $5.91 billion by 2025, after growing at a CAGR of 4.20% during 2020-2025. Pine chemicals are safe and also environmentally friendly. Their usage leads to lower emissions of carbon dioxide than those generated from conventional sources. The recent history has contributed to growing emissions and environmental issues due to the widespread use of raw oil and natural gas products. Consequently, fossil fuel consumption is desperately required to reduce carbon footprint and emissions of carbon dioxide. Therefore, the market for such environmentally friendly chemicals from pines is expected to rise steadily over the forecast period.

Key Takeaways

The demand for pine chemical products will also increase over the forecast period due to the rise in the flavors and fragrances industry.

Emerging pine chemicals technologies are expected to act as a potential market growth opportunity.

Additional factors are expected to drive sales growth of the target market over the predictive period, such as growing construction activities, growing disposable incomes, increasing application of inks, adhesives, soap, detergents, etc.. in the various sectors.

Additionally, technical advancements, production increase and rising urbanization are expected to fuel pine chemicals demand.

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Geography - Segment Analysis

Europe dominated the Pine chemicals market share with more than 52.3%, followed by North America and APAC. The adhesive, sealant and tape industry produces annual sales of over EUR 3.7 billion, as indicated by the German Adhesives Association. In the region, demand for adhesive in the electronics and car industries is increasing. The decrease in production is primarily due to these industries. In Germany, however, total adhesive production continues to increase, backed by growth in other industries, including packaging and construction. In 2018 biodiesel production reached 3.2 billion metric tons, with a further increase to 2019, says the German Organization of the Biodiesel Producers. Furthermore, with approximately 600 design and architectural paints manufacturers in the region, the market for Italian paints is highly fragmented. 


Drivers – Pine chemicals market


Increasing demand for Food Adhesives
 
Market Landscape

 Major players in the Pine chemicals market are Eastman Chemical Company, Renessenz LLC, Harima Chemicals Group, Inc., Arakawa Chemical Industries, Ltd., and Ingevity Corporation, Arizona Chemical Company, LLC, DRT (Dérivés Résiniques et Terpéniques), Georgia-Pacific Chemicals LLC., Mentha & Allied Products Pvt. Ltd., and Foreverest Resources Ltd., among others.


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