Pine Chemicals Benefit from Uptake of Bio-Based Materials
The coatings and adhesives sub-segment accounts for the largest share of the global pine chemicals market, at over 30%.
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.