The global pine chemicals market is estimated to grow with a CAGR of over 5% from 2019-2027 to reach a value of over $19 billion.* Significant growth is projected within the pine chemicals market due to increased demand for bio-friendly products, as well as widespread use in coatings, adhesives, and disinfectants. In addition, competitors are working on developing a cost-effective rectification process for pine chemicals to be used in adhesives, lubricants, inks, and paints and coatings.


Coatings and Adhesives Stay on Top

The coatings and adhesives sub-segment accounts for the largest share of the global pine chemicals market, at over 30% in 2018. Pine chemicals are utilized in adhesives and sealants, paints and coatings, surfactants, inks, and others. Such materials, in turn, are used in manufacturing, paper, cleaning products, printing, and publishing, as well as a number of other industrial activities.

For many years, the pine chemicals industry has provided the growing coatings and adhesives markets with bio-renewable feedstocks. Products include tall oil rosin and tall oil fatty acids (TOFAs), which are intermediates derived from pine trees used for making coating and adhesive solutions safe and sustainable.


North America to Remain in Forefront

Due to the involvement of influential exporters, North America emerged in 2018 as the largest regional supplier within the pine chemicals market, representing a market share of more than 30%. The development of bio-refineries in the region is further providing impetus for regional market growth.

Europe emerged as the second-largest market, mainly attributed to the region’s prevalent “all-natural” trend for cosmetics and personal care products. In addition, the emergence of a robust manufacturing base for personal care industries in countries such as the UK, France, and Germany will be a favorable market growth factor.

Asia-Pacific is anticipated to be the fastest-growing regional market, with a CAGR of over 4%. The region is seeing increased demand in the cosmetics and personal care industries from developing countries such as China and Japan.


Rectification Processes and Robust Partnerships

Recycled feedstock and recycled byproducts from other sectors are used by pine chemicals suppliers as the preliminary raw material, considerably lessening production costs while maintaining sustainability. Developing effective pine chemical rectification processes is the primary strategy for emerging competitors. In addition, the establishment of robust partnerships with several fast-moving consumer goods (FMCG) companies to ensure capital flow has been a prime factor in the growth of the pine chemicals industry.

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*Editor’s note: The impact of the COVID-19 pandemic may influence these projections.