The global tall oil rosin market is projected to grow at a CAGR of 3.13% to reach US$657.192 million in 2025.
Paper and pulp industry are considered one of the most important applications in which the tall oil rosin is used. Moreover, its usage is also increasing in other applications such as adhesives for improving its tack power, in rubbers, and inks. It is even used an emulsifier with asphalt, which is used to make roads According to the data provided by theMinistry of Economy, Trade, and Industry, the consumption of Pulp, for both paper and paperboard increased from 9,466 metric tons to 9,602 metric tons in 2017, which an increase of 136 metric tons or an increase of 1.43%. For the recovered paper it was found out to be 17, 092 metric tons in 2015, and 17,231 in 2017, which is an increase of 199 metric tons or 1.16%., which totals up to 26,589 metric tons in 2015 and 26,864 in 2017. Consequently, the production of paper and paperboards for different purposes such as newsprint was recorder to be 26,228 metric tons in 2015 and increased to 26,515 in 2017. This shows that the as the demand for pulp and paperboard is rising with the production also being increased to meet the demands for different applications such as print media, newspapers among others. This, in turn, resulted in an increase in the demand for tall oil rosins for use as printing inks and is bolstering the market growth.
The demand for tall oil fatty acids is increasing further owing to the fact that it is a vegetarian-friendly product and is also an affordable compound that is used in place of tallow fatty acids for the production of soaps and lubricants.
In the context of soaps and lubricants production, the product used to carry out this process is tallow fatty acids, which are considered as one of the substitutes for tall oil fatty acids. However, as the tall oil fatty acids are a more cost-effective and vegetarian-friendly solution, they are increasingly used in place of tallow fatty acids. This factor is also leading to a rise in the demand for tall oil rosins and causing a surge in the market growth over the forecast period.
Product launches and product offerings by Major Market Players in the Tall Oil Rosin Market
Furthermore, the rising interest among the market players in order to effectively increase their profits, launch, and offer better tall oil rosin products is causing them to get involved intensely in the market in order to contribute to the growth of the market over the forecast period.
The North American region is estimated to hold a notable share over the forecast period owing to the well develop chemical industry and the rising usage in adhesive applications. On the other hand, the Asia Pacific region is poised to show modest growth due to rising usage of tall oil in perfumes and owing to the flouring paper and pulp industry.
The North American region is estimated to hold a significant share over the forecast period owing to the fact that the chemical industry is well established in the counties such as the US and there is an increasing amount of investment being made in order accelerate the development of the manufacturing industry and the product quality. This is leading to the use of tall oil rosins in adhesives as binding agents to make their effect more profound and improve their tack, which is referred to as the sticking power of the adhesive.
The Asia Pacific region, on the other hand, is poised to show modest growth over the forecast period owing to the flourishing cosmetics and beauty products industry in countries such as China, as the tall oil rosins are increasingly being used to manufacture soaps and perfumes. Moreover, its use as coatings for consumer ethnics is also facilitating the increase in the region’s market share as the consumer electronics industry of China is booming. Another factor that is contributing to the growth of the region is the increasing production of pulp and paper in countries such as Japan.