Pune, India, Dec 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Gum Rosin Market.
Market Synopsis
The global gum rosin market is projected to register healthy growth during the forecast period, 2022–2030. The market was valued at USD 1,333.31 million in 2021 and is projected to register a CAGR of 4.06% to reach USD 1,877.12 million by the end of 2030.
Gum rosin is derived from oleoresin obtained by scarifying the pine trees. The inherent acidity, combined with other chemical properties, allows it to be converted into a large number of downstream derivatives used in various applications such as producing adhesives, paper sizing agents, printing inks, solders and fluxes, various surface coatings, insulating materials for the electronics industry, synthetic rubber, chewing gums, and soaps & detergents. The global gum rosin market is prominently influenced by many market-driven factors. Some of the market-driven factors that are slated to fuel the global market growth include increased gum rosin demand in the various end-use industries like paints & coatings, rubber industry etc. and its extensive use as a binder in adhesives for the construction industry. Apart from these factors, the opportunity to expand in Latin America and Middle East & Africa is projected to trigger global gum rosin market growth in the near future.
As it dissolves easily in alcohol, gasoline, turpentine, and other organic solvents, gum rosin is a basic material in the paint industry. Gum rosin is refined with a drying oil such as tung oil and mixed with a volatile solvent to produce various lacquers. Its use as a sizing agent in the papermaking industry because it improves paper strength, smoothness, and anti-abrasion. Gum rosin is used in rubber products as a low-cost tackifier and softener. And its end use application in various other industries due to its improved chemical and physical properties may boost the growth in the gum rosin market in the forecast period.
Competitive Landscape
Many regional and local vendors characterize the gum rosin market. The market is highly competitive, with all the players competing to gain maximum market share. The increasing gum rosin demand in automotive boosting the sales of gum rosin is the key driver of the market. The vendors compete based on cost, product quality, and the availability of the products according to the geographies. The vendors must provide cost-effective and high-quality gum rosin to compete in the market. The competitive scenario is fragmented between the tier-1, tier-2, and tier-3 companies, while tier-1 and tier-2 companies hold over 60% of the global market share. The market players' growth depends on the market and economic conditions, government regulations, and industrial development.
Thus, the players should focus on expanding the production capacity to meet the demand and enhance their services. Wuzhou Pine Chemicals Ltd., Jinggu Forestry Chemical Co., Ltd., Jiangmen Xinhui Overseas Chinese Industry Development Co., Ltd., Wuzhou Sun Shine Forestry and Chemicals Co., Ltd., Grupo RB, Forestar Chemical Co., Ltd., Perum Perhutani, PT. Naval Overseas, Punjab Rosin and Chemicals Work, and PinoPine are the major companies in the market at the present that are competing in terms of quality, price, and availability. These players are primarily focusing on the development of gum rosin. Although the international players dominate the market, regional and local players with small market shares also have a moderate presence.
Segmentation
By Type
- WW: WW grade gum rosin is a clear, pale yellow solid. It is a naturally occurring organic substance made up primarily of resins. It is mostly used to produce paint, paper, soap, and printing ink. Its softening point is at 75 °C. This can be used as a glazing agent in pharmaceuticals and chewing gum because they are pure, unadulterated, and free from dangerous additives.
- WG:WG grade has a range of colors from yellow to black and is semi-transparent. This grade is brittle at room temperature but melts at stovetop temperatures. It is mostly made up of several resin acids, particularly abietic acid. It is a binder component of adhesive, including rubber-based adhesive, synthetic resin-based adhesive, and plant-based adhesives. It is also used for paper sizing, strengthening & smoothing paper, increasing wear resistance, thermoplastic coating, such as road marking, vehicle bodies, and enhancing adhesion in the ink industry. Its softening point ranges from 70-75 °C.
- K: K grade serves as the primary component of depilatory wax. This is utilized as a softening in the synthesized rubber business. It also plays a significant role in the creation of road coating, as rosin is initially transformed into rosin malefic ester, rosin polymerized, or unequal rosin, polyols ester, and is subsequently utilized to create the thermoplastic coating for roadway signs injunction. It serves as an insulation material in the field of electric equipment.
- X: X-grade rosin is a naturally occurring resin in the form of a slightly yellow translucent solid and is used to create coatings and inks. This substance has a high degree of chemical activity and is soluble in various organic solvents. The softening point of gum rosin X grade is 78 °C, and its volatile oil concentration is only 2%. The Gum Rosin X is further modified to create improved gum rosin, including gum rosin that has been polymerized, hydrogenated, or other modifications. Because of these qualities, gum rosin X is in great demand relative to other varieties.
- Others: Others grades include N, G, H, I, F, and E. Gum Rosin N's capacity to stabilize emulsions makes it useful in the paper, textile, and cosmetic sectors. This Gum Rosin N is the resinous component of the crude turpentine-like oleo resin secreted by various pine species
By Application
- Adhesives & Sealants: Gum rosin is primarily used as a floor tile adhesive and concrete foaming agent. It is a common component of adhesives, particularly heat melt, pressure-sensitive, and rubber adhesives. It primarily increases the adhesive's strength, flexibility, and viscosity. WW, WG, and K grades of rosin are generally used as adhesives and sealants.
- Rubber: In the synthetic rubber business, rosin is employed as a softener to improve the plasticity, tear strength, fire resistance, flexibility, and anti-abrasion of synthesized rubber. Rosin is utilized as an emulsifier and a dispersion. The synthetic rubber sector consumed around 20% of the entire yearly volume of rosin after the 1970s.
- Paint & Coatings: Rosin is a fundamental component of the paint industry because it dissolves readily in organic solvents, including turpentine, alcohol, and gasoline. Rosin is always transformed into resinate, refined with a drying oil like tung oil, and combined with a volatile solvent to create different lacquers. Rosin first transformed into malefic rosin ester, polymerized rosin, or disproportionated rosin polyols ester and then utilized to create a thermoplastic coating for road sign inunction.
- Printing Inks: Rosin primarily serves as a color conductor and improves the capability of printing ink to adhere to colors. When used to produce offset printing ink, rosin is transformed into altered phenolic rosin, which has a melting point between 160 and 175 °C and an acid value under 20. In manufacturing photogravure printing ink, rosin is first transformed into metallic salt rosin, which has a softening point between 125 and 135 °C and an acid value under 95. It can create different types of specialized printing ink using polymerized rosin.
- Food & Beverage: Chewing gum is made by first converting gum rosin into hydrogenated rosin. Ice cream and chewing gum contain gum rosin as an emulsification stabilizer and thickening ingredient. Food-grade rosin is used in foods, drinks, and cosmetics to keep oils suspended in water.
- Others: Others include the paper, metal processing, and electrical equipment industry. Rosin is employed as an insulating substance in the electrical appliance sector; China has a long record of doing so in the cable sector. To absorb and besmear an electrical loop, rosin can also be mixed with bakelite and other artificial resins. Rosin is primarily used as a metal cleaning agent and soldering aid. Many soldering aids contain rosin because it is a type of weak acidity matter that can eliminate an oxidation film from metal surfaces and gradually corrode the metal's surface.
By Region
- North America: North America was the second largest, with a share of 32.1% in 2021, sized at USD 428.32 million; it is projected to exhibit a CAGR of 3.75%.
- Europe The European market has been segmented into Germany, Russia, Italy, France, the UK, and the rest of Europe. Europe was the third largest, with a share of 26.5% in 2021; it is projected to exhibit a CAGR of 3.60%.
- Asia Pacific: Asia-Pacific dominated the market with a share of 33.3%, accounting for USD 443.76 million in 2021; it is expected to register the highest CAGR of 4.79% from 2022 to 2030.
- Latin America: The Latin American market is divided into Brazil, Mexico, and Argentina are the major contributors in the region; it is projected to exhibit a CAGR of 13%.
- Middle East & Africa: In the Middle East & Africa, GCC countries are the leading in the region followed by South Africa, it is projected to exhibit a CAGR of 10%.