Gum Rosin Market - Forecasts from 2023 to 2028

The gum rosin market was valued at US$1,211.225 million in 2021.

Gum rosin also called colophon, is a naturally occurring solid type of derivative of a pine tree in the form of pine oleoresin and exists in varying colors ranging from black to yellow. It is a basic raw ingredient utilized in several industrial processes, including manufacturing paper, stringed instrument lubricants, and soaps. The growing demand for biodegradable and natural ingredients across different industries due to the international measures to enhance sustainable development is increasing the demand for natural rosins such as gum rosins. The extensive application of gum rosin in major manufacturing processes and products generated and consumed by different industrial sectors, such as construction and paper industries, is expected to propel the steady growth of gum rosins over the forecast period.

Market Drivers:

• The rising consumption of adhesives and paints in the construction sector

The rapid expansion of the construction and infrastructure development sector of several developing and developed countries is resulting in a high need for adhesives and paints for construction purposes, which is further driving the demand for gum rosins to manufacture the demanded adhesives and paints. For example, a report compiled by the American Institute of Architects revealed that the construction of the US in the commercial field grew by 1.5% in 2021. They are adding rosin constituents to rubber, synthetic, vegetable-based adhesives to improve the adhesive's strength, softness, and adherence. In the paint manufacturing sector, gum rosins are consumed to produce paints to be applied across road infrastructure. A type of thermoplastic paint that uses thermoplastic gum rosin is frequently used to paint the road division, safety zone, crosswalks, and boundaries to set certain light-reflection signs in places with heavy traffic, such as highways and airports. Therefore, road infrastructure development under the public construction sector is increasing the need for gum rosins. For instance, the Ministry of Road Transport and Highways received an investment of US$26.04 billion from the Indian government under the Union Budget for FY 2022-23.

The presence of various substitutes remains a significant challenge. 

The availability of different types of petroleum and tall oil rosins that could be used as a substitute for gum rosins restrain the growth of the gum rosins market. Tall oil rosin is a by-product manufactured during kraft pulping by distilling tall crude oil. The resin formed from tall oil rosin is appealing to ink makers due to its rosin acid content and offers an economic advantage over gum rosins due to lower prices. Consequently, tall oil is increasingly consumed as an alternative to gum rosin in the package printing industry applications that demand ink with rapid drying and strong gloss qualities. Further, the rising use of C9, dicyclopentadiene, and C5 rosins derived from petroleum is limiting the development of the gum rosin market.

Market Developments:

• In January 2022, the East African Community & Regional Development launched a resin and gum rosin production plant of US$2.9 million in the capital of Kenya, Wajir, which enhances the production of gum rosin and other gum-based products and employment opportunities in eight regions of the country inspired by the high level of gum and resin exports from Kenya. 
• In May 2020, Les Dérivés Résiniques et Terpéniques, also known as DRT, a French company known for turpentine extraction and gum rosin production derived from pine resins at its production facilities in USA, India, China, and France, was acquired by Firmenich International SA, a leading company in the fragrance and flavor production business. 

The rubber segment is anticipated to hold a significant share of the gum rosins market.

By application, the gum rosin market is divided into paper sizing, printing inks, paints and coatings, adhesives and sealants, rubber, and others. The rubber segment is an important application that consumes approximately 20% of the gum rosin generated internationally and is utilized to produce synthetic rubber. The growing demand for rubber in the healthcare and automotive industry is anticipated to expand the consumption of gum rosins to produce rubber over the forecast period. The healthcare and pharmaceutical sector consumes rubber to manufacture surgical gloves and medical devices, whereas the automotive sector uses rubber to generate vehicle tires. The pandemic resulted in increased consumption of rubber medical gloves as an integral part of virus spread prevention protocol by health institutions and individual consumers. Consequently, the rising healthcare expenditure by consumers is resulting in an increased demand for surgical gloves by hospitals and clinics to implement hygiene systems and standards in practice. Furthermore, the increasing purchase of vehicles is resulting in increased production activities in the automotive industry generating a high demand for rubber to manufacture tires.

Asia Pacific region accounted for a significant share of the gum rosin market in 2021. 

The expansion of the automotive, construction, and pharmaceutical sectors of major economies is driving the growth of the gum rosins market in the Asia Pacific region. The growth in the construction sector in residential and industrial areas of Asian nations provides an opportunity for the consumption of gum rosins to produce the adhesives, paints, and coatings used for construction purposes. For instance, according to estimates from the Bank of Korea, the South Korean construction sector's quarterly output climbed from 21630.50 billion Korean Won in Q322 to 21931.90 billion Korean Won in Q422.

Further, North America is another region expected to witness significant growth in its gum rosin market over the forecast period. The increase in printing ink demand fueled by packaging demand and digital printing needs is a factor contributing to the development of the gum rosins market in the region. In addition to expanding the printing and paper industry, the evolution of digital printing in the textile industries of North American countries, especially the US and Canada, is raising the demand for printing ink products, further generating additional demand for gum rosins. Gum rosin is primarily used in the printing ink business as an ink color carrier and to enhance the ink's adhesion to paper and other surfaces. Therefore, the printing ink sector in North America is expected to boost the consumption of gum rosins.

Gum

Market Segmentation:

By Application

• Rubber
• Adhesives and Sealants
• Paints and Coating
• Paper Sizing
• Printing Ink
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Thailand
• Taiwan
• Others