Pine-Derived Chemicals Global Market Report 2024

The global pine-derived chemicals market has grown strongly in recent years. It will grow from $5.46 billion in 2023 to $5.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be attributed to several factors. These include the utilization of renewable and sustainable raw materials, the expansion of industrial applications, an increase in environmental regulations fostering the shift towards green chemistry, innovations in extraction and processing techniques, the evolution of a biomass-based economy, and the widespread adoption of pine-derived chemicals in cleaning and surfactants.

The global pine-derived chemicals market is expected to see strong growth in the next few years. It will grow to $7.3 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. Anticipated growth in the upcoming period can be linked to several factors. These encompass the expanding market for pine-derived biochemicals, heightened usage in agriculture, a rising demand for pine oil, ongoing innovations in pine resin applications, and the global adoption of pine-derived terpenes. Key trends expected in this period comprise the proliferation of bio-based resins and polymers, broader applications in adhesives and sealants, the incorporation of pine-derived terpenes in pharmaceuticals, and the utilization of these chemicals in antioxidants and health products.

The pine-derived chemicals market is expected to be propelled by heightened environmental concerns in the coming period. This surge in concerns revolves around the preservation of natural elements - land, sea, air, and wildlife. This shift has led to a preference for plant-based pine chemicals over traditional synthesis methods, reducing environmental pollution caused by synthetic chemicals. A global survey conducted across 50 countries in January 2021 revealed that individuals with higher education levels are increasingly recognizing the climate emergency, emphasizing the growing global consensus on addressing climate change. Hence, rising environmental concerns drive the growth of the pine-derived chemicals market.

The growth trajectory of the pine-derived chemicals market is poised to benefit from the flourishing construction industry. This sector encompasses commercial activities related to infrastructure development, repair, and preservation. The escalated demand for adhesives and sealants, pivotal in construction projects, is amplifying the need for pine-derived chemicals. These chemicals are integral components, endowing products with robust bonding and weather-resistant properties. Notably, statistics from February 2022 highlight a record 12.7% annual surge in the construction sector's output, indicating a substantial upsurge in demand. Consequently, the expanding construction industry propels the growth of the pine-derived chemicals market.

Facility expansion emerges as a prominent trend in the pine-derived chemicals market, with manufacturers keen on enhancing their production capabilities to meet growing market demands. For instance, in August 2023, Pine Chemical Group announced its plans to expand the production facility in Kotka, intending to manufacture specialty fats for various applications like chocolates, coatings, and bakery fats. The range includes certified products compliant with existing regulations, ensuring quality and adherence to standards.

In a bid to meet market demands and innovate product offerings, major companies in the pine-derived chemicals market focus on developing pioneering products, notably pharmaceuticals integrating pine-derived chemicals. An illustrative example from July 2023 involves the University of Bath's discovery of a method using pine tree-derived compounds to produce widely used pain relievers like paracetamol and ibuprofen. This biorefinery-based process utilizes waste chemical by-products from the paper industry, indicating a shift toward sustainable alternatives for pharmaceutical synthesis. Despite potential higher costs, consumer inclination toward sustainable sources could drive acceptance and market adoption of such alternatives.

In March 2022, DL Chemical Co. Ltd. from South Korea completed the acquisition of Kraton Corporation for $2.5 billion, enhancing its product portfolio and market presence in the Asia-Pacific region. Kraton Corporation, a US-based manufacturer specializing in polymers and bio-based chemicals from pine derivatives, aligns with DL Chemical's objectives, fortifying its production capacity and market reach.

Major companies operating in the pine-derived chemicals market report are Eastman Chemical Company, Ingevity Corporation, Florachem Corporation, Harima Chemicals Group Inc., L'entreprise française DRT, Georgia-Pacific Chemicals LLC, Swati Menthol & Allied Chemicals Ltd., Privi Speciality Chemicals Limited, Arboris LLC, PineChemical Group Oy, SunPine AB, Lawter Inc., Safeguard Chemical Corporation, Arakawa Chemical Industries Ltd., Kraton Corporation, WestRock Company, Forchem Oy, International Flavors & Fragrances Inc., Foreverest Resources Ltd., Takasgo International Corporation, Chemiplas Australia Pty. Ltd., Wuzhou Sun Shine Forestry and Chemicals Co., Mercer International Inc., OOO Torgoviy Dom Lesokhimik, Respol Resinas SA, Synthomer PLC, Capsa Solutions LLC, Cerner Corporation, Omnicell Inc., Parata Systems LLC, Rxsafe LLC

North America was the largest region in the pine-derived chemicals market in 2023. Europe was second-largest region in the pine-derived chemicals market report during the forecast period. The regions covered in the pine-derived chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pine-derived chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary varieties of pine-derived chemicals encompass tall oil fatty acid, tall oil rosin, gum turpentine, gum rosin, sterols, pitch, and others. Tall oil fatty acid, for instance, is a cost-effective, viscous substance with a yellow-black hue and distinct odor. It is derived through the vacuum distillation of crude tall oil, utilizing processes like kraft, tapping, and pulpmills, drawing from living trees, dead pine stumps, and logs as sources. This chemical finds applications in adhesives and sealants, paints and coatings, surfactants, printing inks, fragrances, cosmetics, food additives, and various other industries.

This report provides pine-derived chemicals market statistics, including pine-derived chemicals industry global market size, regional shares, competitors with pine-derived chemicals market share, detailed pine-derived chemicals market segments, market trends, and opportunities, and any further data you may need to thrive in the pine-derived chemicals industry. This pine-derived chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The pine-derived chemicals market consists of sales of crude sulfate turpentine sterols and stumps. 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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