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The tall oil rosin market size is forecast to increase by USD 113.8 million and is estimated to grow at a CAGR of 3.27% between 2023 and 2028. The global market for specialty chemicals is experiencing significant growth due to several key trends. Firstly, the increasing demand for bio-based solvents, lubricants, and surfactants is driving growth in this sector. This shift towards sustainable and eco-friendly chemicals is being fueled by growing environmental concerns and regulations. Secondly, the construction industry's focus on building and green residential constructions is leading to an increased demand for specialty chemicals used in adhesives, sealants, and insulation materials. Lastly, developing countries are witnessing a surge in demand for adhesives, particularly in industries such as automotive, construction, and packaging. These trends are expected to continue, making the specialty chemicals market an attractive investment opportunity for businesses and investors alike.
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The market is primarily driven by its extensive applications in various industries, including pulp and paper, inks and toners, adhesives, paints and coatings, electronics, hygiene products, rubber, printing, automotive, and building and construction. The market is sourced from the distillation process of Tall Oil Heads derived from pine wood. The Distilled Tall Oil is further processed to produce Tall Oil Rosin, Tall Oil Pitch, and other by-products. Tall Oil Rosin is widely used as an emulsifier in the production of paints and coatings, inks and toners, and hygiene commodities. In the rubber industry, it acts as a reinforcing agent and extender. In the automotive sector, it is used in the manufacturing of vehicle tires and asphalt for road construction. In the paper industry, it is employed in the paper sizing process. The demand for Tall Oil Rosin is expected to increase due to its versatile applications and the growing demand for eco-friendly products. The market is expected to witness significant growth in the coming years due to the increasing demand from various end-use industries. The market for Tall Oil Rosin is competitive, with key players including Mitsui Chemicals, Kemira Oyj, and AkzoNobel. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for bio-based solvents, lubricants, and surfactants is notably driving market growth. The market is experiencing significant growth due to the increasing demand for bio-based solvents, lubricants, and surfactants as alternatives to petroleum-derived products. Pine chemical derivatives, such as tall oil rosin, play a crucial role in various industries, including mining and floatation chemicals and lubricants.
The rising concerns regarding the biodegradability and toxicity of fossil oil-based chemicals have fueled the adoption of bio-based pine chemical products in industrial applications. In the mining industry, tall oil rosin is used as a flotation agent, while in the automobile sector, it is employed as a lubricant. Additionally, tall oil rosin finds extensive applications in painting and coatings, inks and toners, vehicle tires, hygiene commodities, and even as substitutes for antibiotics in certain applications. Thus, such factors are driving the growth of the market during the forecast period.
Increase in M and A and collaborative partnerships is the key trend in the market. The market witnesses significant growth opportunities for global players, driving them to expand their businesses through strategic mergers and acquisitions (M&A). This approach enables companies to penetrate new markets, acquire existing customer bases, and access strong supplier networks.
Additionally, M&A activities offer cost savings through IT, logistics, and delivery systems, as well as brand recognition and enhanced corporate image. In the market, vendors seek to create synergies and increase market share and corporate strength. They focus on acquiring businesses that produce resins for printing ink and tackifiers for adhesives. The M&A strategy is expected to be instrumental in the growth of the market during the forecast period.
Demand-supply imbalance for softwood timber and wood products is the major challenge that affects the growth of the market. The market is experiencing supply constraints, particularly in the Pacific Northwest region, which is a significant source of wood logs and fibers for the production of tall oil rosin. This area, which includes the US states of Oregon, Washington, northern California, Montana, Idaho, and the Canadian province of British Columbia, is encountering challenges due to structural changes in wood log supplies.
Moreover, these issues have resulted in increased prices for logs and fibers, leading to pulp mill closures and reduced production capacity. Consequently, the production of tall oil rosins, a byproduct of the kraft pulping process, has been affected. Tall oil rosin is extensively used in various industries, including painting and coatings, inks & toners, vehicle tires, hygiene commodities, substitutes for antibiotics, chewing gums, papermaking, metalworking, building & construction, chemical, electronics & electricals, mining industry, personal care & cosmetics, automobile, and food processing plants, among others. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
DL Chemical: The company offers tall oil rosin products such as Sylvaros rosin.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The adhesives segment is estimated to witness significant growth during the forecast period. Tall oil rosin, a byproduct of the kraft pulping process derived from pine wood, undergoes a distillation process to produce Tall Oil Rosin and Tall Oil Pitch. This distillation process separates the rosin from the pitch. Distilled Tall Oil is further processed to produce Tall Oil Rosin, which is widely used as a raw material in various industries. Tall Oil Rosin is a versatile ingredient with numerous applications. In the painting and coatings industry, it acts as a resin and serves as a binder in the production of paints and coatings.
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The adhesives segment as the largest segment and valued at USD 250.40 million in 2018. In the ink and toner sector, it functions as a resin and a binder, ensuring the adhesion of ink particles to the paper. The mining industry uses Tall Oil Rosin as a lubricant and a drilling additive. In the automobile sector, it is used as a substitute for tallow fatty acids in the production of vehicle tires. It also finds applications in the manufacturing of chewing gums as a plasticizer and an emulsifier. Hence, such factors are fuelling the growth of this segment during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is a significant segment of the pulp and paper industry, with major applications in inks and toners, adhesives, paints and coatings, electronics, hygiene products, rubber, printing, automotive, building and construction, chemicals, electronics and electrical, mining, and various other industries. Crude tall oil, derived from the distillation of pine chemicals, is the primary raw material for producing rosin. Unsaponifiable matters in crude tall oil are refined to produce rosin, which is further processed into various forms such as rosin esters, rosin acids, and rosin resins. Hence, such factors are driving the market in North America during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market is primarily driven by its extensive applications in various industries, including pulp and paper, inks and toners, adhesives, paints and coatings, electronics, hygiene products, rubber, printing, automotive, building and construction, chemicals, electronics and electrical, mining, and the fiber sector. The unsaponifiable matters derived from crude tall oil are used as raw materials in the production of pine chemicals, alkyd resin coatings, binders, emulsifiers, sealants, renewable rosins, cleansers, sanitary napkins, face-masks, and vegetarian-friendly products. In the pulp and paper industry, tall oil rosin is used as a pitch and turpentine substitute in Kraft pulping, while in the printing industry, it serves as a rubber emulsifier and a printing ink additive. In the paint and varnish industry, it is used as a binder and a solvent. The automotive industry utilizes tall oil rosin as a sealant and a lubricant. Moreover, the demand for tall oil rosin is increasing in the mining industry as a drilling fluid additive, and in the fragrances segment as a perfume ingredient. The market and ink cartridges also contribute significantly to the market growth. The pulp mills produce crude oil as a by-product, which is further refined to extract tall oil rosin. The global market is expected to witness steady growth due to the increasing demand for sustainable and renewable raw materials in various industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
Market growth 2024-2028 |
USD 113.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.13 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, China, Japan, Finland, and Sweden |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arakawa Chemical Industries Co. Ltd., DL Chemical, DL Holdings Group Ltd., Eastman Chemical Co., Firmenich SA, G.C. Rutteman and Co. B.V., Harima Chemicals Group Inc., Ilim Group, Ingevity Corp., Lascaray SA, Meridian Chemicals LLC, Pine Chemical Group, RESPOL Resinas SA, Segezha Group, Songchuan Pine Chemicals Co. Ltd., Stora Enso Oyj, Sunpine AB, Ter Group, Univar Solutions Inc., and YKA Akay Ticaret ve Kimya Sanayi A.S |
Market dynamics |
Parent market analysis, market forecast, market report, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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