Rosins Market: Overview and Dynamics
Rosins is a naturally occurring substance derived from pine and spruce trees, primarily composed of resin acids and modified resin acids like dimers and decarboxylated resin acids. It is also known as colophony, or colophonium, a solid form of resin somewhat transparent and the color varies from yellow to black.
Based on the source and availability, the rosins market can be divided into three types i.e. wood rosins, gum rosins & tall oil rosins. Amongst all three, the gum rosins market makes a difference throughout the globe because of its versatile application like printing inks, road marking, chewing gums, paper sizing agents, etc. Further, the demand growth is expected to be increasing by 2031. The tall oil rosins also captured a part of the global rosins market followed by the wood rosins market. The use of tall oil rosins as cement binders is one example. Other bundled applications include waterproofing, printing inks, etc.
From the past half-decade, the rosins market has shown drastic growth, several industries are witnessing the same. In the paint & coating industry, gum rosins are one of the key ingredients which need to dissolve with solvents like turpentine alcohol and gasoline for use. Rosins are also used for tablets coating and film-forming agents in pharmaceutical industries. With the growing demand in various industries, rosins are also customized these days as per the requirements.
COVID-19 Impact Insights
Due to the lockdown imposed across the globe, almost every sector and markets were broken down, Rosins market is also one among them. The pandemic created a history of harsh financial condition and lower growth in maximum sectors which lead to economic disruption and the breakdown of supply and demand equilibrium.
The impact of COVID-19 has negatively affected several world economies. Governments across the globe have enacted several rules and regulations, including total blockage and quarantine methods, to combat COVID-19, which has had massive impacts in various areas of business.
In the first quarter of 2020, numerous countries were affected by COVID-19 and hurt the overall standing of rosins market which lead to an unexpected pause in the production process, financial activities and consumption patterns in the rosins market.
The second quarter of 2020 experienced a great financial loss and challenging economic conditions, plants were shut down in leading producing regions like China, Indonesia, Portugal, Brazil and Russia where the production of rosins was high which led to low productivity of rosins and remained to continue for the next quarter.
Consistently upgrading workplace safety measures and COVID-19 guidelines for worker safety would help the rosins market to bounce back strongly best by the first quarter of 2021.
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Segmentation Analysis of Rosins Market
The global rosins market is divided into four major segments: product type, package type, end use, and region.
Based on product type, the rosins market has been segmented as follows:
- Wood Rosins
- Elliottii gum rosins
- Pinaster gum rosins
- Water white gum rosins
- Special gum rosins
- Natural wood rosins
- Gum Rosins
- Tall Oil Rosins
- Customized Gum Rosins
Based on the package type, the Rosins market has been segmented as follows:
Based on end use, the Rosins market has been segmented as follows:
- Paints & Coatings
- Paper & fortified
- Rubber & tyre
Based on geographic regions, the Rosins market has been segmented as follows:
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Rosins Market: Regional Outlook
Based on the regional split, the report “Rosins Market” takes into account six prominent regions including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The Asia Pacific is a dominant player among the six mentioned and acquired the highest market share in the year 2015 where China was the leading producer of gum rosins throughout Asia and the whole world. This is due to the immense growth of applications such as paper gluing, synthetic rubber, printing inks, and adhesives in China. Bulk consumption is witnessed for printing inks in the Chinese region, making China the brightest country in terms of the rosins market for printing ink application.
With increasing demand from the construction industry, the gum rosins market share is expected to grow at a quick pace. The Asia-Pacific rosins market is expected to show rapid growth in the forecast period due to increasing paints & coatings production along with rubber industry GVA of countries such as China, Korea and India.
The European rosins market size is also shown growth from the past few years and will make a difference by 2031 as the demand from the food and soap industries is rising. Gum Rosins is being used in soap manufacturing and used as a replacement for aliphatic acid. It is widely used in the food industry to make chewing gum and other confectionery. It is emerging as one of the most emerging ingredients in confectionery. The value of the confectionery market is projected to exceed $80 billion in 2031, of which chewing gum has a significant share. Rosin gum is renewable and easily degradable in the environment. This is likely to increase the rosins market size due to growing concerns about healthy eating habits and the growing preference for the bio-based materials market.
Europe is expected to closely follow the Asia Pacific as consumers have moved towards sustainable solutions across industries, thereby providing a lift to the overall rosins consumption. Due to the increasing growth of end-use industries in Latin America the Rosins market may climb up the revenue bars till 2030.
After Europe, the South Atlantic and eastern Gulf states of the US is producing a good quantity of rosins. The rosins produced in America are obtained from the turpentine of pine longleaf.
The rosins market of North America is growing significantly with the growing demand coming from the pharmaceutical and packaging industry, US is at the top followed by Canada and Mexico. The size of the regional pharmaceutical market has great potential and is projected to exceed $25 billion by 2022 as the government has increased investments to control death rates.
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Rosins Market: Key Players
The world rosins market structure is very much fragmented and competitive. The companies which are involved in the investment in their R&D sector are one step ahead to improve their products because the product with more uniqueness will attract the user more and with the attraction, the probability of sales will be high. Arakawa Chemical Industries Ltd, Sharda Industries, Deqing Jixin, Guangdong Komo Co.Ltd, Manish Minerals & Chemicals, Guangdong KOMO etc. are amongst the leading players in the rosins market.
Common growth strategies followed by the market players to improve rosins quality, production and niche grades are witnessed across the players in the market. Besides, the acquisitions and the establishment of long-term supply contracts with municipalities and industries offer an advantage to the players in the rosins market. Nevertheless, regional conglomeration which includes Asia and Africa start supporting the local manufacturers is leading to a challenging environment for global players offering their products at a higher price which in turn is significantly hampering the overall rosins market revenues.
The research report presents a comprehensive assessment of the rosins market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Rosins market report provides analysis and information, according to market segments such as geographies, product type, package type and industry use.
The Rosins Market Report Covers Exhaustive Analysis On:
- Rosins Market Segments
- Rosins Market Dynamics
- Rosins Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
An Adaptive Approach to Modern-day Research Needs
The Rosins Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The rosins market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The rosins market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The rosins market report also maps the qualitative impact of various market factors on market segments and geographies.
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The Rosins Market Report Highlights:
- A detailed overview of the parent market
- Changing rosins market dynamics in the industry
- In-depth rosins market segmentation
- Historical, current and projected rosins market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for rosins market players to sustain and enhance their market footprint
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