With the emergence and long-term Impact of COVID-19, Global Gum Rosin Market to reach USD xx billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Gum Rosin Market points towards a potential rise to USD xx billion by 2030. Gum rosin, also known as colophony, is a natural resin obtained from the oleoresin of pine trees. It is produced by tapping living pine trees and collecting the sticky substance that oozes out. Gum rosin is solid and translucent, with a brittle texture and a yellow to amber color.
It consists mainly of resin acids and has a wide range of applications, including as a binder in adhesives, as a tackifier in coatings and inks, as a flux in soldering, as an ingredient in chewing gum and cosmetics, and in various other industrial and consumer products. Accordingly, the market growth is being propelled by major factors such as the rising demand for bio-based adhesives and sealants, and the flourishing paper packaging industry.
Geographically, the global Gum Rosin market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to the region’s rapid expansion in key industries that heavily rely on gum rosin, including adhesives, printing inks, synthetic rubber, and paper sizing. The robust growth of these application industries in the APAC region has been a driving factor for the gum rosin market.
Asia Pacific is also expected as the fastest growing region during the forecast period. The accelerating industrial growth and improving consumer lifestyles in this region have resulted in a growing need for high-quality products in key sectors such as automotive and building & construction. The growing demand from the paints and coatings industry, rise in use in printing inks, and expanding construction and infrastructure activities. This surge in demand for superior-quality goods is identified as a significant driver for the increased utilization of gum rosin.
The global Gum Rosin market is highly competitive owing to the presence of several key manufacturers such as Arakawa Chemical Industries Ltd Finjet Chemical Co. Ltd Forestar Chemical Co. Ltd Foreverest Resources Ltd Guangdong KOMO Co., Ltd. Guangxi Tone Resin Chemical Co. Ltd Harima Chemicals Group Inc. Silver Fern Chemical Inc. United Resins Wuzhou Sunshine Forestry and Chemicals Co. Ltd, and others.
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Key findings of the study suggest:
- Global Gum Rosin Market is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030.
- In Application segment, Adhesives and Sealants emerged out as the leading market segment in 2023.
- Asia Pacific is anticipated to drive regional growth owing to rapid expansion in key industries that heavily rely on gum rosin, including adhesives, printing inks, synthetic rubber, and paper sizing in the region.
- Asia Pacific is also expected to grow at higher rate during 2023-2030 owing to growing demand from the paints and coatings industry in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Application:
- Paper Sizing
- Printing Ink
- Adhesives and Sealants
- Rubber
- Paints and Coatings
- Other Applications
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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