Pine Chemicals Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Product Type (Tall Oil, Rosin, and, Turpentine), by Application (Adhesives and Sealants, Coatings, Printing Inks, Lubricants and Lubricity Additives, Paper Sizing, Rubber, Soaps and Detergents, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Southeast Asia Oil & Gas EPC Market Summary
Study Period:


Base Year:


Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The market for pine chemicals is expected to grow at a CAGR of over 4% during the forecast period of 2019-2024. One of the major factors driving the market studied is the rising demand for pine chemicals in mining and floatation chemicals and lubricants. However, the increase in the availability of cheaper substitutes is likely to restrain the market.

  • An increase in demand from flavors and fragrances industry is also likely to boost the demand for pine chemicals during the forecast period.
  • Emerging applications of pine chemicals are likely to act as an opportunity for the market growth in the future.
  • North America dominated the global market in 2018 owing to the presence of the high number of pine trees in the region.

Scope of the Report

The pine chemicals market report includes:

Product Type
Tall Oil
Tall Oil Fatty Acid (TOFA)
Distilled Tall Oil (DTO)
Pitch and Bio-oils
Other Oils
Tall Oil Rosin
Gum Rosin
Wood Rosin
Gum/Wood Turpentine
Crude Sulphate Turpentine
Other Turpentines
Adhesives and Sealants
Printing Inks
Lubricants and Lubricity Additives
Paper Sizing
Soaps and Detergents
Others Applications (Chemical additives, Chewing Gums, Food Additives, etc.)
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of the Europe
South America
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa (MEA)

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Key Market Trends

Rosin Products to Dominate the Market

  • In 2018, rosin products accounted for more than 40% of the total pine chemicals market.
  • Rosin is one of the primary products from processing CTO, and it is also recovered from tapping pine trees or extracting pine stumps.
  • The unique functionality of rosin makes it a preferred source for ink and adhesive resins, chewing gum, drink stabilizers, and many other applications.
  • Gum rosin is the major product type with more than 70% of the rosins market share. With the help of growing demand from adhesives and printing inks industries and emerging applications, like wound care products, the rosin products segment is projected to influence the global fine chemicals market in the coming years.
  • Hence, rosin products are likely to dominate the pine chemicals market during the forecast period.
Southeast Asia Oil & Gas EPC Market - Market Trends

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North America to Dominate the Market

  • In 2018, North America dominated accounted for the highest market share owing to the high production and consumption in the United States.
  • The pine chemical industry is one of the oldest segments of the US chemical industry. It is a stable industry and has a long history of contributing to goods used, across the country.
  • There is a shift in the focus of the United States paints and coatings manufacturers toward protective paints produced from alkyd resins. This is because alkyd polymers made from renewable raw materials, like pine chemicals, are available in water or water reducible formulas. This trend is likely to fuel the market demand for pine chemicals in the country.
  • The complex and changing regulations, including the US FDA Ingredient Status and chemical control law and the US TSCA, are igniting the market demand of pine chemicals through the applications of food and packaging adhesives.
  • The US market is overseeing the demand for candies, gums, and other confectionary products, apart from its ‘matured’ demand for baked foods. This is further increasing the market for emulsifiers, colorants, and sweeteners in the country.
  • The US market is developed for synthetic food additives and is currently seeing a rapid demand for natural food additives. This factor is likely to propel the high potential demand in the market studied, during the forecast period.
  •  Hence, owing to the high demand from several end-user industries, North America is likely to dominate the market during the forecast period.
SEA Oil & Gas EPC Market Segmentation

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Competitive Landscape

The market for pine chemicals is fragmented as the market share is divided among a large number of companies. Some of the major players in the market include Kraton Corporation, Ingevity, Harima Chemicals Group Inc., and Pine Chemical Group, among others.

Major Players

  2. Ingevity Corporation
  3. Harima Chemicals Group, Inc.
  4. Pine Chemical Group

* Complete list of players covered available in the table of contents below

Southeast Asia Oil & Gas EPC Market - Market Concentration

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Rising Demand of Pine Chemicals in Mining and Flotation Chemicals and Lubricants

      2. 4.1.2 Increase in Demand from Flavors and Fragrances Industry

    2. 4.2 Restraints

      1. 4.2.1 Increase in the Availability of Cheaper Substitutes

      2. 4.2.2 Diversion of CTO to Biofuels due to Government Incentives

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Product Type

      1. 5.1.1 Tall Oil

        1. Tall Oil Fatty Acid (TOFA)

        2. Distilled Tall Oil (DTO)

        3. Pitch and Bio-oils

        4. Other Oils

      2. 5.1.2 Rosin

        1. Tall Oil Rosin

        2. Gum Rosin

        3. Wood Rosin

      3. 5.1.3 Turpentine

        1. Gum/Wood Turpentine

        2. Crude Sulphate Turpentine

        3. Other Turpentines

    2. 5.2 Application

      1. 5.2.1 Adhesives and Sealants

      2. 5.2.2 Coatings

      3. 5.2.3 Printing Inks

      4. 5.2.4 Lubricants and Lubricity Additives

      5. 5.2.5 Paper Sizing

      6. 5.2.6 Rubber

      7. 5.2.7 Soaps and Detergents

      8. 5.2.8 Others Applications (Chemical additives, Chewing Gums, Food Additives, etc.)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. ASEAN Countries

        6. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. France

        3. United Kingdom

        4. Italy

        5. Rest of the Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle East & Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle East & Africa (MEA)


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arakawa Chemical Industries Ltd

      2. 6.4.2 DRT (Derives Resiniques et Terpeniques)

      3. 6.4.3 Eastman Chemical Company

      4. 6.4.4 Harima Chemicals Group Inc.

      5. 6.4.5 Ingevity Corporation

      6. 6.4.6 Kraton Corporation

      7. 6.4.7 Pine Chemical Group

      8. 6.4.8 Plasmine Technology Inc.

      9. 6.4.9 Resinall Corp

      10. 6.4.10 Forchem Oyj

      11. 6.4.11 Sunpine AB

      12. 6.4.12 Ooo Torgoviy Dom Lesokhimik

    5. *List Not Exhaustive

    1. 7.1 Emerging Applications of Pine Chemicals (DTO, TOFA, CTO, TOP, and Wood Rosin)

    2. 7.2 Food and Packaging Safety Regulations of Adhesives and Sealants

**Subject to Availability

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