Gum And Wood Chemicals Global Market Report 2024

The gum and wood chemicals market size has grown rapidly in recent years. It will grow from $397.77 billion in 2023 to $443.9 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The expansion witnessed in the historical period can be attributed to the influence of the forestry industry, as well as the demand from sectors like food and beverage, pharmaceuticals, healthcare, and the production of adhesives and resins.

The gum and wood chemicals market size is expected to see rapid growth in the next few years. It will grow to $661.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The anticipated growth in the forecast period can be attributed to the increasing adoption of renewable and sustainable materials, the rise of biopolymers and bio-based products, innovation in food ingredients, and the growth of the pharmaceutical and nutraceutical industries. Additionally, notable trends in this forecast period include the utilization of plant-based binders and stabilizers, the implementation of sustainable extraction practices, the emphasis on natural and organic product claims, and the adoption of biodegradable materials.

The increased demand for gum Arabic has been a significant factor driving the growth of the gum and wood chemicals market. Gum Arabic, a natural and versatile ingredient, is widely used in the food, beverage, and chemical industries. It is primarily produced in African countries and plays a crucial role in the food industry as a stabilizer, binder, and emulsifier, with applications in soft drinks, wine, liquor, as well as pharmaceuticals, cosmetics, and various other sectors such as printing, ceramics, textiles, and adhesives. According to the Observatory of Economic Complexity (OEC), gum Arabic was among the traded goods in the world, with a total trade value of $363 million in 2021, marking a 7.33% increase from the previous year. This rising demand for gum Arabic has positively impacted the gum and wood chemicals market.

Key products in the gum and wood chemicals category encompass gum arabic, guar gum, wood chemicals, charcoal, and tannic acid. Charcoal is a dense black material that resembles coal and is utilized as a fuel source. It is created by heating wood or other organic substances in the absence of air. Gum and wood chemicals cater to a diverse array of end-user industries, including commercial, industrial, and household applications. The primary distribution channels for these products involve direct sales and distributor networks.

The gum and wood chemicals market research report is one of a series of new reports that provides gum and wood chemicals market statistics, including gum and wood chemicals industry global market size, regional shares, competitors with a gum and wood chemicals market share, detailed gum and wood chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the gum and wood chemicals industry. This gum and wood chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growing demand for construction activities is expected to be a driving force for the gum and wood chemicals market in the future. Construction involves the assembly of various components to create structures according to specific designs and plans. Gum and wood chemicals play a significant role in construction by enhancing material properties and offering environmentally friendly and clean-label solutions. For example, data from Stats NZ Tatauranga Aotearoa, a New Zealand government data agency, indicates a 3.7 percent increase in building activities in March 2021, with a 4.3 percent rise in residential activities compared to 2020. In the United States, the US Census Bureau reported an increase in the value of construction activities from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, representing a growth rate of 10.2 percent. Therefore, the rising demand for construction activities is a key driver for the gum and wood chemicals market.

Government regulations impacting charcoal production are expected to impose limitations on the gum and wood chemicals market. Charcoal production involves the cutting down of trees, which has adverse ecological effects. Various government agencies are responsible for regulating the production, use, and transportation of charcoal. For example, the Indian Forest Act of 1927 classifies charcoal as a forest product, and within reserved forests, consuming, collecting, and transporting charcoal is considered an offense. In 2021, coal production in India declined by 3.3% to 337.52 million tons due to restrictions and lockdowns imposed as a result of the COVID-19 outbreak, as reported by Down to Earth, an India-based fortnightly magazine. These regulations are expected to restrict the growth of the gum and wood chemicals market.

Companies operating in the gum and wood chemicals market are actively focused on introducing new products as a strategy to enrich their product portfolios and reinforce their market positions. The introduction of innovative products allows these companies to offer wood protection and enhance its natural appearance. For example, in January 2023, The Heubach Group, a Germany-based provider of comprehensive color solutions, launched Hostatint™ SA, an advanced pigment preparation designed for premium wood finishes. These Hostatint SA preparations do not require special labeling, making them a suitable alternative to traditional dyes. The re-formulated Hostatint™ UV 100 product range represents the next generation of high-performance colorants for UV-cured wood coatings. This approach enables companies to stay competitive and meet the evolving demands of the market.

In January 2022, Arxada AG, a Switzerland-based specialty chemicals manufacturer, merged with Troy Corporation for an undisclosed sum. This merger resulted in the formation of a well-rounded and state-of-the-art portfolio within Arxada's Microbial Control Solutions division. It allowed the combined entity to provide innovative solutions and value-added services to its customers. Troy Corporation, a US-based company, specializes in the development and manufacturing of performance materials for various industrial applications. This merger likely strengthened their market presence and capabilities.

In December 2022, the Sherwin-Williams Company, a US-based manufacturer of paint and coatings, acquired Industria Chimica Adriatica S.p.A. for an undisclosed sum. This strategic acquisition was aimed at bolstering Sherwin-Williams' portfolio of wood coatings. It allowed them to leverage their strong market presence and focus on delivering innovative, high-quality, and environmentally friendly solutions within the wood coatings segment. Industria Chimica Adriatica S.p.A., based in Italy, is a chemical company known for manufacturing industrial wood coatings used in applications such as flooring, building materials, furniture, and other specialized areas. This acquisition likely contributed to Sherwin-Williams' expansion and competitiveness in the wood coatings market.

Major companies operating in the gum and wood chemicals market include Royal Oak Enterprises LLC, Abbey Color Inc., Borregaard AS, Braai Star Charcoal, E & C Charcoal (Pty) Ltd., Georgia-Pacific Chemicals LLC, Kraton Corporation, WestRock Company, International Paper Company, Rayonier Advanced Materials Inc., Weyerhaeuser Company, Mercer International Inc., Domtar Corporation, Resolute Forest Products Inc., Sappi Limited, UPM-Kymmene Oyj, Mondi PLC, Stora Enso Oyj, Suzano SA, Fibria Celulose SA, Klabin SA, Arauco North America Inc., Empresas CMPC SA, Eldorado Brasil Celulose SA, Asia Symbol (Shandong) Pulp and Paper Co. Ltd., Nine Dragons Paper Limited, Lee & Man Paper Manufacturing Limited, Shandong Chenming Paper Holdings Limited, Svenska Cellulosa Aktiebolaget SCA, Metsä Group, Nippon Paper Industries Co. Ltd., Oji Holdings Corporation, Rengo Co. Ltd., Daio Paper Corporation, Hokuetsu Corporation

Asia-Pacific was the largest region in the gum and wood chemicals market in 2023. North America was the second-largest region in the global gum and wood chemicals market. The regions covered in the gum and wood chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the gum and wood chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The gum and wood chemicals market consists of the sales of hardwood and softwood distillation products, wood and naval stores, charcoal, natural dyestuffs, and natural tanning materials. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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