PINE CHEMICALS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 Pine chemicals have been important parts of the adhesives and sealants value chain for many years.Tall oil products (TOFA and DTO) and rosin products (TOR and gum rosin) are excellent tackifiers for adhesives. In adhesives, rosin resins are used along with polymers, which form one of the major components of adhesives and thus generate cohesion. The TOR resins offer three important benefits, which include: compatibility with a variety of polymers, which provides flexibility and reliability in the formulation. chemical tailoring of rosin resin to provide unique adhesive performance; They are derived from natural and renewable sources.

Europe dominated the market studied, accounting for more than 40% of the total market by volume, with Germany and Italy being the key consumers in the region.

According to the German Adhesives Association, the adhesives, sealants, and tape industries will generate an annual turnover of more than EUR 4 billion (USD 4.57 billion) in 2020.

Germany is the largest producer of general rubber goods (GRG) and tires in Europe. Continental AG, Dunlop GmbH, Michelin Tire Werke AG & Co. KGaA, Pirelli Deutschland GmbH, Freudenberg Group, etc., are some of the major manufacturers of tire and non-tire products in the country.

In response to market changes in Europe that favor larger rim diameter tires, the major players in the tire industry are expanding and contracting in Germany at the same time.The disruptions in tire manufacturing are likely to have a short-term impact on the market studied. During the time frame of the forecast, the pine chemicals market is expected to register a CAGR of over 4.5%.

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