Global Gum Rosin Market Report and Forecast 2024-2032

Global Gum Rosin Market Report and Forecast 2024-2032

Global Gum Rosin Market Report and Forecast 2024-2032

Market outlook

According to the report by Expert Market Research (EMR), the gum rosin market size reached a value of USD 1.55 billion in 2023. Aided by the increasing demand for gum rosin in various sectors and its wide range of applications, the market is projected to further grow at a CAGR of 5.1% between 2024 and 2032 to reach a value of USD 2.43 billion by 2032.

Gum rosin, a natural resin obtained from pine trees, is widely used in the production of adhesives, inks, coatings, rubber, and various other products. Its excellent adhesive properties, along with its ability to enhance the elasticity and viscosity of materials, make it a crucial ingredient in numerous industrial applications. Additionally, gum rosin is valued for its versatility and eco-friendly nature, as it is derived from a renewable resource.

The increasing demand for adhesives in the construction, automotive, and packaging sectors is driving the gum rosin market growth. As these sectors expand, the need for high-quality adhesives continues to rise, bolstering the demand for gum rosin. Furthermore, the growing use of gum rosin in the production of printing inks and coatings is contributing to the market expansion, driven by the rise in packaging and labelling activities worldwide.

Moreover, the expanding applications of gum rosin in various sectors play a significant role in propelling the market. In the rubber sector, gum rosin is used as a tackifier to improve the elasticity and flexibility of rubber products. The coatings industry utilizes gum rosin for its excellent film-forming properties, which enhance the durability and appearance of coatings. Additionally, gum rosin is used in the production of chewing gum and food-grade adhesives, highlighting its versatility and broad application spectrum.

In the adhesives sector, gum rosin is a critical ingredient used to enhance the adhesive properties of various products. Its ability to improve tackiness and elasticity makes it ideal for applications in construction, automotive, and packaging. The rising demand for high-performance adhesives in these industries is driving the growth of the market, consequently driving up the gum rosin market share.

The growing emphasis on sustainability and eco-friendly products is also driving the demand for gum rosin. As consumers and industries alike become more environmentally conscious, there is a rising preference for natural and renewable materials over synthetic alternatives. This shift towards sustainable products is expected to drive the growth of the gum rosin market over the forecast period.

In the coatings sector, gum rosin is widely used for its excellent film-forming and binding properties. It is utilized in the production of varnishes, paints, and other coatings to enhance their durability, gloss, and overall performance. The increasing construction activities and the growing demand for protective coatings are driving the adoption of gum rosin in this sector.

The rubber sector also benefits significantly from gum rosin, which is used as a tackifier to improve the elasticity, flexibility, and performance of rubber products. This application is particularly important in the production of tires, conveyor belts, and various other rubber-based products. The expanding automotive industry and the rising demand for high-performance rubber products are contributing to the growth of this sector.

As per the gum rosin market analysis, in the printing ink sector, gum rosin is used to produce high-quality printing inks with excellent adhesion, gloss, and colour retention properties. The rise in packaging and labelling activities, driven by the growth of the e-commerce and retail sectors, is boosting the demand for printing inks, thereby driving the growth of the gum rosin market.

Additionally, gum rosin finds applications in the food sector, particularly in the production of chewing gum and food-grade adhesives. Its natural origin and non-toxic properties make it suitable for use in food products. The growing demand for natural and safe food ingredients is driving the adoption of gum rosin in this sector.

Market Segmentation

The market can be divided based on product type, application, and region

Market Breakup by Product Type

• WW
• WG
• N
• X

Market Breakup by Application

• Paper
• Paints and Coatings
• Soap
• Printing Ink
• Adhesives
• Rubber
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Europe

Competitive landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global gum rosin market. some of the major players explored in the report by expert market research are as follows:

• PT Indonesia Pine Chemical Industri (PT. INDOPICRI)
• Wuzhou Pine Chemicals Ltd
• PT Nasco
• PT Oleo Resina Indonesia
• PT Istana Palapa Kertas (ISPAK)
• PT Kencana Hijau Bina Lestari
• Guangxi Dinghong Resin Co Ltd
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report. Show more