Pine-Derived Chemical Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Tall Oil Fatty Acid, Tall Oil Rosin, Sterols, Pitch, Gum Turpentine, Gum Rosin, Others), By Source (Living Trees, Dead Pine Stumps & Logs, By-products Of Sulphate Pulping), By Process (Tapping, Kraft), By Application (Paints & Coatings, Adhesives & Sealants, Printing Inks, Surfactants, Others), And By Geography - Forecasts From 2022 To 2027

  • Published : Mar 2022
  • Report Code : KSI061611617
  • Pages : 122

The pine-derived chemical market was valued at US$9.956 billion in 2020 and is expected to grow at a CAGR of 4.67% over the forecast period to reach US$13.703 billion by 2027.

Pine-derived chemicals are bio-based renewable chemicals obtained from the pine tree. The carbonization of wood and the distillation of oleoresin provide these compounds. Furthermore, the bulk of distilled goods is made from stumps, gum, sulphate pulp byproducts, and logs. Chemicals derived from pine trees are obtained as byproducts of the pulping process in the form of crude sulfate turpentine and crude tall oil during the papermaking process. Furthermore, the wood carbonization process produces products such as creosote, charcoal, methanol, essential oils, tannin, phenol, and medicament. Adhesives, resins, surface coatings, printing inks, soaps and detergents, plasticizers, and aroma compounds all include pine-derived substances.

Increasing CO2 emissions from natural gas and crude oil, as well as increasingly strict environmental regulations, are some of the causes that prompted the firm to make a sustainable decision. New research, “The Crude Tall Oil Value Chain: Global Availability and the Influence of Regional Energy Policies,” published recently in The Journal of Cleaner Production, projects an 8% shortage of crude tall oil (CTO) global availability for all uses by 2030, according to Pine Chemicals. This shortfall, according to the research, is attributable to the increased demand for CTO for transportation-related biofuels. As a result, the manufacturing of pine-derived bio-based compounds will increase. Hence, product demand has grown in a variety of applications, including adhesives, resins, and aroma chemicals. Furthermore, gum rosin, which is made from tree oleoresin, is used to improve plasticity, adhesive viscosity, and strength. Therefore, these factors will increase the consumption of pine-derived chemicals and fuel market expansion throughout the projected period.

However, price fluctuations in pine-derived chemicals have an influence on overall demand and restrict their use in a variety of applications. Hence, market growth is likely to be hindered.

The market for pine-derived chemicals is expected to grow rapidly in the North American region. This increase can be attributed to increased product demand from adhesive and sealant applications. The growing use of sterols and gum rosin in printing inks will drive market expansion in the Asia Pacific. The rising usage of the chemical in paints and coatings applications is driving expansion in Europe. The Middle East and Africa are expected to see substantial development due to the use of tall oil rosin in surfactant applications.

Growth Factors

  • Increase in applications of pine chemicals across industries

The market for pine-derived chemicals is largely driven by rising demand for products in the adhesive, paints and coatings, building, and healthcare industries. World Painting and Coating Industry Association (WPCIA) reported that the global paints and coatings industry sales were $172.8 billion in 2019. According to the German Adhesives Association, the adhesives, sealants, and tape sector generate more than EUR 3.7 billion in yearly revenue. The increased emphasis on natural and environmentally friendly products that result in reduced CO2 emissions is fueling product demand. Tall oil rosins offer a wide range of applications in the building sector. Due to their durability and resilience to abrasion, compression, and weather, these materials are utilized as binders in cement, pavement marking, and other diverse applications. According to the Italian construction association, Associazione Nazionale Costruttori EdilI (ANCE), investment in the construction industry is anticipated to rise. Furthermore, the Italian paints and coatings industry is highly fragmented, with around 600 decorative and architectural paint producers in the country.


  • Stringent government regulations

The market is constrained by stringent government rules and regulations, as well as price competition among numerous manufacturers of pine-derived chemicals. Furthermore, there is a limited supply of pine available worldwide, resulting in a lack of raw material availability. This issue is likely to stifle market expansion.

Impact of COVID-19 on the pine-derived chemical market

Covid-19 has had a detrimental impact on the market for pine-derived chemicals. The pandemic has posed a variety of challenges for players seeking raw materials for the manufacturing of pine-derived chemicals. In the midst of the pandemic, the market for pine-derived chemicals is being restrained by a lockdown and international trade restrictions. On the other hand, continuous population expansion, along with the improved standard of living, has resulted in higher food spending, offering possibilities to minimize losses.

Key Developments:

  • Kraton Corporation, a global sustainable manufacturer of specialty polymers and high-value biobased products produced from pine wood pulping co-products, announces a 10% price increase across its entire Pine Chemicals and AMS range in February 2021.
  • Firmenich, the Swiss flavor and fragrance conglomerate, agreed to acquire Les Dérivés Résiniques et Terpéniques (DRT) from family shareholders and private equity companies in February 2020. Many terpenes utilized in perfumes are found in DRT's pine-derived substances.

Pine-Derived Chemical Market Scope:

Report Metric Details
 Market size value in 2020  US$9.956 billion
 Market size value in 2027  US$13.703 billion
 Growth Rate  CAGR of 4.67% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Source, Process, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Eastman Chemical Company, Harima Chemicals Group, Inc., Arakawa Chemical Industries, Ltd., Ingevity Corporation, DRT (Dérivés Résiniques ET Terpéniques), Foreverest Resources Ltd., Kraton Corporation, Forchem Oyj, Renessenz LLC, Arizona Chemical Company, LLC
 Customization scope  Free report customization with purchase

Market Segmentation:

  • By Type
    • Tall Oil Fatty Acid
    • Tall Oil Rosin
    • Sterols
    • Pitch
    • Gum Turpentine
    • Gum Rosin
    • Others
  • By Source
    • Living Trees
    • Dead Pine Stumps & Logs
    • By-products of Sulphate Pulping
  • By Process
    • Tapping
    • Kraft
  • By Application
    • Paints & Coatings
    • Adhesives & Sealants
    • Printing Inks
    • Surfactants
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • UK
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Others
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the pine-derived chemical market size by 2027?
A1. The pine-derived chemical market is expected to reach a total market size of US$13.703 billion in 2027.

Q2. What are the growth prospects for the pine-derived chemical market?
A2. The global pine-derived chemical market is expected to grow at a CAGR of 4.67% over the forecast period.

Q3. What is the size of the global pine-derived chemical market?
A3. Pine-Derived Chemical Market was valued at US$9.956 billion in 2020.

Q4. What factors are anticipated to drive the pine-derived chemical market growth?
A4. The pine-derived chemical market is largely driven by rising demand for products in the adhesive, paints and coatings, building, and healthcare industries.

Q5. Which region holds the largest market share in the pine-derived chemical market?
A5. The North American region is expected to hold the largest share of the pine-derived chemical market.

1. Introduction
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Pine-Derived Chemical Market Analysis, by Type
5.1. Introduction
5.2. Tall Oil Fatty Acid
5.3. Tall Oil Rosin
5.4. Sterols
5.5. Pitch
5.6. Gum Turpentine
5.7. Gum Rosin
5.8. Others

6. Pine-Derived Chemical Market Analysis, by Source
6.1. Introduction
6.2. Living Trees
6.3. Dead Pine Stumps & Logs
6.4. By-products of Sulphate Pulping

7. Pine-Derived Chemical Market Analysis, by Process
7.1. Introduction
7.2. Tapping
7.3. Kraft

8. Pine-Derived Chemical Market Analysis, by Application
8.1. Introduction
8.2. Paints & Coatings
8.3. Adhesives & Sealants
8.4. Printing Inks
8.5. Surfactants
8.6. Others

9. Pine-Derived Chemical Market Analysis, by Geography
9.1. Introduction
9.2. North America
9.2.1. USA
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1. Brazil
9.3.2. Argentina
9.3.3. Others
9.4. Europe
9.4.1. Germany
9.4.2. France
9.4.3. UK
9.4.4. Italy
9.4.5. Others
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.5.2. UAE
9.5.3. South Africa
9.5.4. Others
9.6. Asia Pacific
9.6.1. China
9.6.2. India
9.6.3. Japan
9.6.4. South Korea
9.6.5. Taiwan
9.6.6. Thailand
9.6.7. Indonesia
9.6.8. Others

10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix

11. Company Profiles 
11.1. Eastman Chemical Company
11.2. Harima Chemicals Group, Inc.
11.3. Arakawa Chemical Industries, Ltd. 
11.4. Ingevity Corporation
11.5. DRT (Dérivés Résiniques ET Terpéniques)
11.6. Foreverest Resources Ltd.
11.7. Kraton Corporation
11.8. Forchem Oyj
11.9. Renessenz LLC
11.10. Arizona Chemical Company, LLC

Eastman Chemical Company

Harima Chemicals Group, Inc.

Arakawa Chemical Industries, Ltd.

Ingevity Corporation

DRT (Dérivés Résiniques ET Terpéniques)

Foreverest Resources Ltd.

Kraton Corporation

Forchem Oyj

Renessenz LLC

Arizona Chemical Company, LLC