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Gum Rosin Market Trends

ID: MRFR//6957-CR | 100 Pages | Author: Priya Nagrale| December 2022

Global Gum Rosin Market Overview

Gum Rosin Market Size was valued at USD 1.45 Billion in 2023. The Gum Rosin industry is projected to grow from USD 1.51 Billion in 2024 to USD 2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.59% during the forecast period (2024 - 2032). Rising needs for gum rosin from various end-use Industries and manufacturers’ opportunities for growth in the emerging region are the key market drivers that fuel the market’s growth and expansion.

Gum Rosin Market

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Gum Rosin Market Trends

  • Rising demand from a variety of end-use applications is driving the market growth.

The rising demand for various end-use applications is driving the market CAGR for gum rosin. With rising need from various end-use purposes, most gum rosin is now processed using chemicals instead of naturally produced. It is mostly made up of abietic & pimaric acids, with trace quantities of neutral chemicals. Because of its intrinsic acidity and other chemical qualities, it may be transformed into a wide range of downstream derivatives utilized for various purposes. Among the derivatives are sodium chloride, ester compounds, anhydride of maleic adducts, and polymerized rosins. The bulk of their uses is in manufacturing glues, paper sizing substances, printing ink, solders & fluxes, different surface finishes, insulation substances for electronic devices, synthetic rubber-based chewing gums, detergents and soaps, and other items.

Additionally, the producer has the opportunity to grow in the expanding region. Individual investors acquire or lease property in nations such as Argentina and Brazil to produce tightly spaced plantation trees. Trained laborers, known as "tappers," are either engaged or employed by "tapping companies" to gather oleoresin. This agricultural idea describes and organizes ways of managing forests and tapping. Tappers work for firms that manage pine plantations, employ advanced technology, and are adequately compensated. PCI's utilization of innovative scientific pine genetics and chemical boosters has enhanced oleoresin manufacturing in pine trees. Previously, one worker could tap roughly 1,500-2,000 trees each year using normal PCI procedures; now, through R&D, the total has climbed to 7,000-10,000 trees yearly.

COVID-19 has influenced the worldwide sales of gum rosins. Retailers, distributors, and e-commerce merchants have entered into long-term contracts with the supplier to guarantee that the finished product is available at various places when needed. While some disruption to supply chains is inevitable, there is cause to be optimistic if prior experiences are considered. The hazards associated with lean manufacturing; affordable supply chains were visually portrayed in COVID-19. By SIAM, sales of passenger cars in India fell 51% in March 2020 to 143,014 units. In addition, industrial vehicle sales decreased 88% to 13,027 units, while sales of two-wheeled vehicles dropped 40% to 866,849 units. It also emphasized the significance of strengthening supply-chain resilience skills. The market will likely pick up speed after the epidemic has been contained.

For instance, based on the Rubber Board, synthetic rubber output in India climbed by 15.0% to 380,772 tons in 2018-19, up from 331,221 tons in 2017-18. In contrast, synthetic rubber usage climbed 8.3% yearly to 686,325 tons in 2018-19 from 633,975 tons in 2017-18. As a result, a rapid increase in synthetic rubber manufacturing is propelling the worldwide gum rosin market. Thus, it is anticipated that demand for Gum Rosin will increase throughout the projection timeframe due to the rising demand from various end-use applications. Thus, driving the Gum Rosin market revenue.May 2023- The sole US distributor for a leading global supplier of wood-rosin-based beverage additives, T&R Chemicals, Inc., has filed a complaint in California court charging competitors Farbest Brands (New Jersey) and Caragum International (Marseille, France) with incorrect advertising and unfair competition in knowingly and intentionally labeling, selling and distributing their glycerol-ester beverage additive. T&R's lawsuit contends that Caragum and Farbest falsely claim that the wood-rosin glycerol ester they sell in the United States is actually a different product that is less expensive and not approved for use in most countries in the world. The president of T&R, Vasilios Fotopoulos, said that by making fake and false claims about the product they are selling, Caragum and Farbest are misleading their customers, generating an unfair playing field and destroying the integrity of the rosin industry.

Gum Rosin Market Segment Insights

Gum Rosin Type Insights

The Gum Rosin market segmentation, based on type, includes WW, WG, K, X, and Others. WW category dominated the market, accounting for 48% of market revenue (USD 0.7  billion) in 2022. Increasing the use of the WW-Type category in sizing paper to retain patterns and colors is one of the important aspects that will drive overall demand. It is used for excellent quality and performance in adhesives and synthetic rubber applications.

Figure 1: Gum Rosin Market, by Type, 2022 & 2032 (USD Billion)

Gum Rosin Market, by Type

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Gum Rosin Product Type Insights

The Gum Rosin market segmentation, based on Product Type, includes Adhesive & Sealants, Rubber, Paint & Coatings, Printing Inks, Food & Beverage, and Others. The adhesive & sealants category generated the most income of about 30% (USD 0.4 billion) in 2022. The increased use of adhesives in the vehicle and construction industries drives demand for this category. The increase in vehicle manufacturing and residential and commercial building projects is causing an increase in demand for adhesives and sealants, which will improve total market demand.

Gum Rosin Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Gum Rosin market area will dominate this market, owing to a strong expansion in application sectors such as glues, inks for printing, artificial rubber, and paper sizing. In addition, the growing number of end-use industries will boost market growth in this region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Gum Rosin Market Share by Region 2022 (USD Billion)

Gum Rosin Market Share by Region

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Gum Rosin market is expected to grow and expand significantly at a fast growth rate due to the rapid industrial expansion and improved consumer habits that have resulted in an increase in demand for superior goods from end-use sectors, including automotive and construction & building. Further, the German Gum Rosin market holds the largest market share, and the UK Gum Rosin Market is anticipated to grow and expand rapidly in the European region during the projected timeframe.

The Asia-Pacific Gum Rosin Market accounts for the second-highest market revenue during the projected timeframe. This is because of growing adhesives in emerging economies such as China and India, boosting the overall market demand. Moreover, China’s Gum Rosin market held the largest market share, and the Indian Gum Rosin market was the fastest-growing market in the APAC region.

Gum Rosin Key Market Players & Competitive Insights

Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the Gum Rosin market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Gum Rosin industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Gum Rosin industry to benefit customers and capture untapped market share and revenue. The Gum Rosin industry has recently offered significant advantages to the automotive industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Gum Rosin market, including 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 attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.

Arakawa Chemical Industries produces and distributes resins for inks used in printing and paper chemicals. It is a major provider of excellent, ecologically friendly chemical substances utilized in producing adhesives and related products, sealing compounds, inks for printing, pigments, plastics, finishes, rubber, electronic devices, and other items. Several of their goods target significant markets in Japan and are being expanded throughout the continent of America. The organization sells its goods in other countries, particularly in Asia. The organization's four segments are Papermaking Chemicals, Coating, Adhesive, and Functional Materials. The organization also offers non-life insurance products and property brokerage solutions. Arakawa Chemical Industries Ltd agreed to partner with Forestar Chemical Co. Ltd in 2021 to boost their gum rosin manufacturing capacity.

Borealis AG provides chemical and plastic solutions. It was established in 1994 and is headquartered in Vienna, Austria. It is a leader in sophisticated and ecological polyolefin solutions and a European leader in polyolefin recycling. They have become the market leader in chemical bases and fertilizers in Europe. Polyolefins, basic chemicals, and fertilizers are also available from the organization. Borealis services the transportation, pipe & connections, power, and medical sectors worldwide. In 2020, Borealis AG introduced a new marketing strategy for its gum rosin sealants and adhesives line of goods, which includes gum rosin-based items.

Key Companies in the Gum Rosin market include

  • INDONESIA PINUS (Indonesia)

  • Eastman Chemical Company

  • Midhills (India)

  • MEGARA RESINS (Greece)

  • Naval Overseas (Indonesia)

  • Wuzhou Pine Chemicals Ltd.

  • Merck KGaA (Germany)

  • Pihera (Mexico)

Gum Rosin Industry Developments

In January 2023, Akramax, a leading supplier of natural resins, announced the launch of a new line of gum rosin products. The new products are designed to meet the growing demand for high-performance rosin in the adhesives and composites industries.

In February 2023, Pine Chemicals Corporation, a major producer of gum rosin, announced that it had signed a new supply agreement with a leading manufacturer of adhesives. The agreement is expected to increase the demand for gum rosin in the adhesives market.

In March 2023, Kraton Corporation, a leading producer of synthetic rubber, announced that it had acquired the assets of a gum rosin producer. The acquisition is expected to give Kraton a stronger foothold in the gum rosin.

Gum Rosin Market Segmentation

Gum Rosin Type Outlook

  • WW

  • WG

  • K

  • X

  • Others

Gum Rosin Product Type Outlook

  • Adhesive & Sealants

  • Rubber

  • Paint & Coatings

  • Printing Inks

  • Food & Beverage

  • Others

Gum Rosin Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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