Pine-derived Chemicals Market Size, Share & Trends Analysis Report By Type (Tall Oil, Rosin, Turpentine), By Process, By Application (Adhesives & Sealants, Paints & Coatings, Printing Inks, Rubber, Surfactants), By Region, And Segment Forecasts, 2024 - 2030

Pine-derived Chemicals Market Trends

The global pine-derived chemicals market size was estimated at USD 5.82 billion in 2023 and is projected to grow at a CAGR of 4.4% from 2024 to 2030. The increasing demand for sustainable and renewable chemical sources across various industries is driving market growth. Pine-derived chemicals, extracted from pine trees, are utilized in numerous applications such as adhesives, paints, coatings, and surfactants, offering an eco-friendly alternative to petroleum-based products.

The market is further propelled by advancements in extraction and processing technologies, enhancing the efficiency and yield of pine-derived chemicals. Additionally, stringent environmental regulations and the global push towards reducing carbon footprints are encouraging the adoption of renewable resources, thereby boosting the demand for pine-derived chemicals. The versatility and biodegradability of these chemicals make them highly suitable for various industrial applications, contributing to their growing popularity.

The market is witnessing significant growth due to the increasing use of these chemicals in the production of bio-based adhesives and sealants. The shift towards sustainable construction practices and the rising preference for eco-friendly products in the construction industry are expected to fuel market growth. Moreover, the expanding applications of pine-derived chemicals in the personal care and pharmaceutical industries are creating new growth opportunities for market players.

Drivers, Opportunities & Restraints

The market is driven by several factors, including the growing demand for sustainable and renewable chemicals, advancements in extraction technologies, and the increasing application of these chemicals in various industries such as adhesives, paints, and coatings. The global focus on environmental sustainability and stringent regulatory frameworks are also contributing to the market growth.

However, the market faces challenges such as the limited availability of raw materials and the high cost of extraction and processing. Additionally, the fluctuating prices of pine-derived products due to supply chain disruptions and environmental factors pose significant restraints to market growth. Despite these challenges, ongoing research and development activities aimed at improving extraction techniques and expanding the applications of pine-derived chemicals are expected to mitigate some of these restraints.

The market presents significant opportunities driven by the increasing demand for sustainable and renewable resources across various industries. Innovations in extraction and processing technologies are enhancing the efficiency and yield of pine-derived products, opening new avenues for their application. Additionally, the growing trend towards eco-friendly and biodegradable materials in sectors such as construction, packaging, and personal care is creating lucrative opportunities for market players.

Type Insights

“The demand for turpentine segment is expected to grow at a CAGR of 5.0% from 2024 to 2030 in terms of revenue”

Tall oil segment led the market, accounting for 34.9% of the global market revenue share in 2023. Tall oil, a byproduct of the kraft pulping process, is extensively used in the production of adhesives, sealants, and coatings due to its excellent binding properties and biodegradability. The growing demand for sustainable and eco-friendly materials in various industrial applications is driving the growth of the tall oil segment.

Turpentine, a volatile essential oil obtained from the distillation of pine resin, is widely used as a solvent in paints and coatings, providing superior thinning and cleaning properties. The pharmaceutical industry utilizes turpentine for its therapeutic properties in topical formulations and as a component in traditional medicines. The demand for bio-based and sustainable solvents is further propelling the growth of the turpentine segment, making it a critical component of the pine-derived chemicals market.

Process Insights

“The demand for tapping process segment is expected to grow at a CAGR of 4.9% from 2024 to 2030 in terms of revenue”

Kraft process segment led the market, accounting for 65.2% of the global market revenue share in 2023, driven by its widespread use in the production of tall oil and turpentine. This process, primarily used in the paper and pulp industry, allows for the efficient extraction of valuable chemicals from pine trees, supporting the growth of the pine-derived chemicals market.

The tapping process segment is also gaining traction due to its traditional and sustainable method of extracting pine resin. This process is widely used in the production of rosin and turpentine, offering a renewable and environmentally friendly alternative to synthetic chemicals. The increasing adoption of the tapping process in various regions is expected to drive market growth.

Application Insights

“The surfactants application segment is expected to grow at a CAGR of 5.2% from 2024 to 2030 in terms of revenue”

The adhesives & sealants application segment held the largest market share in 2023, accounting for 29.9% of the global market revenue, driven by the growing demand for bio-based adhesives in the construction and packaging industries. Pine-derived chemicals are increasingly used in the production of adhesives and sealants due to their excellent binding properties and environmental benefits.

The paints & coatings segment is also expected to witness significant growth, driven by the rising demand for eco-friendly and sustainable coatings in the construction and automotive industries. Pine-derived chemicals offer excellent film-forming properties and durability, making them suitable for various coating applications.

Regional Insights

“U.S. to witness market growth at 4.4% CAGR”

North America pine-derived chemicals market is poised for robust growth due to the increasing demand for sustainable and renewable chemicals in various industries. The presence of key market players and advancements in extraction technologies are driving the market in this region.

U.S. Pine-derived Chemicals Market Trends

The pine-derived chemicals market in the U.S. is driven by stringent environmental regulations and the growing preference for sustainable chemicals in industrial applications. The increasing use of pine-derived chemicals in adhesives, paints, and coatings, along with significant investments in research and development, are key factors contributing to market growth in the country.

Asia Pacific Pine-derived Chemicals Market Trends

Asia Pacific pine-derived chemicals market is experiencing rapid growth in the pine-derived chemicals market, driven by the expanding industrial base and increasing demand for sustainable chemicals in countries like China, India, and Japan. The growing construction, automotive, and personal care industries are key drivers of market growth in this region. Additionally, government initiatives promoting sustainable practices and the development of bio-based products are supporting the market's expansion.

Europe Pine-derived Chemicals Market Trends

The pine-derived chemicals in Europe is a significant market for pine-derived chemicals, driven by stringent environmental regulations and a strong focus on sustainability. The region's well-established paper and pulp industry is a major contributor to the market, with countries like Sweden and Finland leading the way. The increasing demand for eco-friendly adhesives, coatings, and personal care products is also driving market growth in Europe.

Key Pine-derived Chemicals Company Insights

Some of the key players operating in the market include Kraton Corporation, Eastman Chemical Company, Harima Chemicals Group, Inc., Ingevity Corporation, and Arakawa Chemical Industries, Ltd., among others

• Kraton Corporation is a producer of pine-derived chemicals, offering a wide range of products used in adhesives, coatings, and rubber applications. The company's focus on innovation and sustainability has strengthened its position in the market.

• Eastman Chemical Company is known for its high-quality pine-derived products used in various industrial applications. The company's commitment to environmental sustainability and advanced manufacturing processes has solidified its market presence.

• Harima Chemicals Group, Inc. specializes in the production of rosin and turpentine products, catering to the adhesives, coatings, and rubber industries. The company's extensive product portfolio and strong focus on research and development have enhanced its market competitiveness.

• Ingevity Corporation is a prominent player in the pine-derived chemicals market, offering a range of products derived from tall oil. The company's emphasis on sustainable practices and innovative solutions has driven its growth in the market.

Recent Developments

• In February 2024, Kraton Corporation, a prominent global producer of sustainable specialty polymers and high-value biobased products from pine wood pulping co-products, announced the launch of SYLVASOLV. This new line of biobased hydrocarbon oils is designed to provide superior performance and environmental benefits across various industries, including agrochemicals, adhesives, and lubricants.

• In September 2023, DRT announced the ongoing construction of a cutting-edge facility dedicated to producing hydrogenated rosin and resin derivatives. This investment will strategically position the Group as a leading global supplier of hydrogenated rosin and resin derivatives, featuring the highest level of hydrogenation available in the market.

Pine-derived Chemicals Market Report Scope

Global Pine-Derived Chemicals Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global pine-derived chemicals market report on the basis of type, process, application, and region:

• Type Outlook (Revenue, USD Billion; 2018 - 2030)

  • Tall Oil

  • Rosin

  • Turpentine

  • Others

• Process Outlook (Revenue, USD Billion; 2018 - 2030)

  • Kraft Process

  • Tapping Process

• Application Outlook (Revenue, USD Billion; 2018 - 2030)

  • Adhesives & Sealants

  • Paints & Coatings

  • Printing Inks

  • Rubber

  • Surfactants

  • Others

• Regional Outlook (Revenue, USD Billion; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE