Rosin Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Rosin Market Analysis
The Global Rosin Market is projected to register a CAGR of more than 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020.
The market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- The growing demand for adhesives and increasing demand from the paints and coatings industry are the major factors driving the market.
- On the other hand, the availability of close substitutes is expected to hinder the market growth.
- Furthermore, the growing demand for bio-based products is expected as a market opportunity in the coming years.
- The Asia-Pacific region dominated the market worldwide, with countries like China, India, and Japan being the biggest consumers.
Rosin Market Trends
Growing Demand form Paints and Adhesives
Gum rosin is widely used in adhesives and is expected to be the fastest-growing market during the forecast period.
Adhesives made using gum rosin resins have superior characteristics, like excellent durability, thermal stability, greater polarity, and superior hot tack.
Gum rosin is used as an ingredient when manufacturing paints and coatings. Its application in paints and coatings is growing rapidly because it easily dissolves in turpentine, gasoline, alcohol, and other organic solvents.
The global paints and coatings industry is growing considerably owing to the increasing demand from various end-user industries, such as building and construction, transportation, industrial, and protective.
China's growth is fueled mainly by rapid residential and commercial building expansion. According to the world bank, China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030.
Also, China's construction output is registering an upward trend. The country's construction output peaked in 2022 at about USD 4.64 trillion (31.2 trillion yuan). As a result, these factors tend to increase the market demand during the forecast period.
With the growing demand for adhesives, paints, and coatings, the rosin market is growing significantly during the forecast period.
Asia-Pacific to Dominate the Market
During the forecast period, Asia-Pacific is expected to dominate the rosin market due to increased demand from countries like China and India.
Rosins are used to produce hot-melt, pressure-sensitive, and rubber adhesives, predominantly used in the construction, packaging, and automotive industry. The growing population and increasing demand for packaging are expected to drive the market.
In paints and varnishes, rosin is used to formulate road markings and other industrial coatings to meet the requirements and reduce residual solvent emissions.
The Indian government will likely invest around USD 1.3 trillion in housing over the next seven years. It is expected to see the construction of 60 million new homes. Hence, boosting the market growth in the paints and varnish segment.
China is the leading manufacturer of gum rosin globally. According to National Development and Reform Commission, China's infrastructure investment increased by 8.7% year over year in the first 10 months of 2022, which is 0.1% more than in the first three quarters, thereby enhancing the demand for the studied market.
Additionally, residential construction is also expected to grow considerably. China's growth is fueled mainly by rapid residential and commercial building expansion. According to the world bank, China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030.
The above factors and government support contribute to the increasing demand for the rosin market in Asia-Pacific during the forecast period.
Rosin Industry Overview
The Rosin Market is partially fragmented in nature. Some of the major players in the market include Eastman Chemical Company, Foreverest Resources Ltd., G.C. RUTTEMAN & Co. B.V., Henan Haofei Chemical Co., Ltd, and Harima Chemicals Group, Inc, among others (in no particular order).
Rosin Market Leaders
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Eastman Chemical Company
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Foreverest Resources Ltd
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G.C. RUTTEMAN & Co. B.V.
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Henan Haofei Chemical Co.,Ltd
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Harima Chemicals Group, Inc.
*Disclaimer: Major Players sorted in no particular order
Rosin Market News
- June 2022: Harima Chemicals Group, Inc. has completed the acquisition of commercial rights, assets, and other assets relating to Henkel AG & Co. KGaA's solder materials business. Henkel's Solder Material business will strengthen Harima's potential to employ its Tall Oil Rosin (TOR) manufacturing.
- March 2022: Eastman Chemical Corporation and some of its subsidiaries announced the completion of the sale of their adhesives resins business to Synthomer plc. The sale included hydrocarbon resins, pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid-based resins product lines.
Rosin Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand for Adhesives
4.1.2 Increasing Demand from Paints and Coatings Industry
4.2 Restraints
4.2.1 Availability of Close Substitutes
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Rosin Type
5.1.1 Gum
5.1.2 Wood
5.1.3 Tall Oil
5.2 Application
5.2.1 Adhesives
5.2.2 Paints and Varnishes
5.2.3 Rubbers
5.2.4 Paper Sizing and Fillers
5.2.5 Printing Inks
5.2.6 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AF Suter
6.4.2 Arakawa Chemical Industries Ltd.
6.4.3 Astrra Chemicals
6.4.4 CV. INDONESIA PINUS
6.4.5 Eastman Chemical Company
6.4.6 EMCO Dyestuff
6.4.7 Foreverest Resources Ltd
6.4.8 GC RUTTEMAN & Co. B.V.
6.4.9 Harima Chemicals Group, Inc.
6.4.10 Henan Haofei Chemical Co., Ltd
6.4.11 Himalaya Terpenes Pvt. Ltd.
6.4.12 KANTILAL BROTHERS
6.4.13 Kemipex
6.4.14 M/s Saraf Resin and Chemicals Pvt. Ltd
6.4.15 Manish Minerals & Chemicals
6.4.16 Punjab Rosin and Chemicals Works
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Bio-based Products
Rosin Industry Segmentation
Rosin, also known as colophony or Greek pitch, is a solid form of resin obtained from pines and other plants, mostly conifers, and is made by vapourising the volatile liquid terpene components of fresh liquid resin. It's semi-transparent and comes in various colors ranging from yellow to black.
The Rosin Market is segmented by rosin type, application, and geography. By rosin type, the market is segmented into gum, wood, and tall oil. By application, the market is segmented into adhesives, paints and varnishes, rubbers, paper sizing and fillers, printing inks, and other applications. The report also covers the market size and forecasts in 15 countries across major regions. Market sizing and forecasts have been done for each segment based on revenue (USD million).
| Rosin Type | |
| Gum | |
| Wood | |
| Tall Oil |
| Application | |
| Adhesives | |
| Paints and Varnishes | |
| Rubbers | |
| Paper Sizing and Fillers | |
| Printing Inks | |
| Other Applications |
| Geography | |||||||
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Rosin Market Research FAQs
What is the current Rosin Market size?
The Rosin Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Rosin Market?
Eastman Chemical Company , Foreverest Resources Ltd , G.C. RUTTEMAN & Co. B.V., Henan Haofei Chemical Co.,Ltd and Harima Chemicals Group, Inc. are the major companies operating in the Rosin Market.
Which is the fastest growing region in Rosin Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Rosin Market?
In 2024, the Asia Pacific accounts for the largest market share in Rosin Market.
What years does this Rosin Market cover?
The report covers the Rosin Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rosin Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Rosin Industry Report
Statistics for the 2024 Rosin market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Rosin analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
