광업 및 부유 화학제품, 윤활유, 향료 산업 등 다양한 산업에서 송진화학 제품에 대한 요구가 높아지고 있는 것이 송진화학 제품 시장의 주요 촉진요인입니다. Verified Market Research의 애널리스트에 따르면 송진화학 제품 시장은 2024년에는 53억 8,000만 달러의 평가를 밑돌며, 예측 기간 중 75억 9,000만 달러의 평가에 달할 것으로 추정되고 있습니다.
합성 화학 물질에 대한 지속가능하고 친환경적인 대안에 대한 수요 증가와 소나무를 원료로 한 제품의 환경적 이점에 대한 인식이 높아지는 것도 소나무 화학제품 시장의 중요한 촉진요인 중 하나입니다. 이로 인해 시장은 2024-2031년 연평균 복합 성장률(CAGR) 4.4%로 성장할 것으로 예상됩니다.
송진화학은 제지 공정의 제품별이며, 다양한 일반 제품에 이용되는 필수 화합물로 업그레이드됩니다. 주요 송진화학은 조제된 톨유(CTO)이며, 톨유 지방산, 톨유 로진, 톨유 로진 에스테르 등의 송진화학로 정제할 수 있습니다. 송진화학은 페인트 및 코팅제, 접착제 및 실링제, 인쇄 잉크, 계면활성제, 향료, 바이오연료의 원료 등 다양한 용도로 사용되고 있습니다.
접착제 및 실란트 산업 증가는 소나무 화학, 특히 소나무 수지의 주요 원동력입니다. 미국화학 산업협회(American Chemistry Council)의 보고서에 따르면 세계 접착제 및 실란트 시장은 2023년 720억 달러 규모에 달할 것으로 예상되며, 2028년까지 연평균 5.2%의 성장률을 보일 것으로 예상됩니다. 이러한 증가는 다양한 접착제 용도에 사용되는 소나무에서 추출한 접착제 및 바인더에 대한 수요를 증가시키고 있습니다.
지속가능한 바이오 제품 동향은 석유 기반 화학제품을 대체할 수 있는 재생한 대안으로 소나무 화학제품에 대한 수요를 증가시키고 있습니다. 미국 농무부의 BioPreferred Program에 따르면 바이오 제품 산업은 2022년 미국 경제에 4,700억 달러의 가치를 창출하고 460만 개의 일자리를 창출할 것으로 예상하고 있습니다. 이러한 바이오 제품으로의 전환은 송진화학 시장에 긍정적인 영향을 미칠 것입니다.
또한 소나무 화합물, 특히 톨루엔 지방산은 페인트 및 코팅 산업에서 널리 사용되고 있으며, Verified Market Research의 건설용 페인트 및 코팅 시장 조사에 따르면 2023년 시장 규모는 520억 8,000만 달러로 2024-2031년 연평균 4.4% 성장할 것으로 예상됩니다. CAGR은 4.1%로 성장할 것으로 예상됩니다. 페인트 및 코팅 산업의 부상으로 인해 원료로서 송진 화학제품에 대한 수요가 증가하고 있습니다.
송진과 같은 원재료의 가격과 가용성은 송진화학 시장에 큰 영향을 미칩니다. 이러한 투입재의 가격 변동은 송진화학의 총 생산 비용에 영향을 미치기 때문에 시장 참여자들이 일정한 가격 설정과 수익성을 유지하기가 어렵습니다.
송진화학 시장은 삼림 벌채 및 나무 공급의 지속가능성 등의 문제로 인해 환경적 우려를 안고 있습니다. 이 시장의 기업은 이러한 우려에 대응하기 위해 보다 지속가능한 관행을 확립하고 책임감 있는 원료 조달을 보장해야 합니다.
또한 송진화학 시장은 소나무 유래 제품을 대체할 수 있는 합성 화학물질 및 대체 화학물질과의 경쟁에 직면해 있습니다. 동일한 기능을 가지고 있지만 공급원이 다른 경쟁 제품이 존재한다는 것은 송진화학(Pine Chemicals) 수요와 성장 잠재력에 영향을 미칠 수 있습니다.
The growing need for pine chemicals in a variety of industries, including mining and flotation chemicals, lubricants, and the flavors and fragrances industry, is a major driver of the pine chemicals market. According to the analyst from Verified Market Research, the pine chemicals market is estimated to reach a valuation of USD 7.59 Billion over the forecast subjugating around USD 5.38 Billion valued in 2024.
The rising demand for sustainable and eco-friendly alternatives to synthetic chemicals, as well as increased awareness of the environmental benefits of pine-based goods, is another significant driver for the pine chemicals market. It enables the market to grow at a CAGR of 4.4% from 2024 to 2031.
Pine chemicals are co-products of the papermaking process that are upgraded into essential compounds utilized in a wide range of common products. The primary pine chemical is crude tall oil (CTO), which can be further refined into additional pine chemicals such as tall oil fatty acids, tall oil rosin, and tall oil rosin esters. Pine chemicals are used in a variety of applications, including paints and coatings, adhesives and sealants, printing inks, surfactants, scents, and even as a feedstock for biofuels.
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The increasing adhesives and sealants industry is a major driver of pine chemicals, especially pine resins. According to a report by the American Chemistry Council, the global adhesives and sealants market was worth USD 72 Billion in 2023 and is expected to increase at a 5.2% CAGR until 2028. This increase is driving up demand for pine-derived tackifiers and binders, which are utilized in a variety of adhesive applications.
The trend toward sustainable and bio-based products is driving up demand for pine chemicals as renewable alternatives to petroleum-based chemicals. According to the USDA's BioPreferred Program, the bio-based goods industry will contribute $470 billion to the US economy in 2022, sustaining 4.6 million employment. This move toward bio-based goods has a favorable impact on the pine chemicals market.
Furthermore, pine compounds, particularly tall oil fatty acids, find widespread application in the paint and coatings industry. The Construction Paints and Coatings Market study by Verified Market Research states that the market size was $52.08 billion in 2023 and is predicted to grow at a CAGR of 4.1% from 2024 to 2031. The rise of the paints and coatings industry is increasing the demand for pine chemicals as raw materials.
The pricing and availability of raw materials, such as pine resin, have a large impact on the pine chemicals market. Price changes for these inputs affect the total cost of manufacturing pine chemicals, making it difficult for market players to maintain constant pricing and profitability.
The pine chemicals market has environmental concerns due to issues such as deforestation and the sustainability of tree supplies. Businesses in this market are under pressure to establish more sustainable practices and ensure responsible raw material procurement in response to these concerns.
Furthermore, the pine chemicals market is facing competition from synthetic or alternative chemicals that act as alternatives for pine-derived products. The availability of competing goods with comparable functions but from different sources influences the demand and growth potential for pine chemicals.
According to VMR analyst, the tall oil segment is expected to dominate within the pine chemicals market. Tall oil's market domination stems from its wide range of applications in numerous sectors. It is utilized in adhesives, rubber processing, soap production, and as a bio-based alternative in many chemical processes. Tall oil's adaptability allows it to penetrate numerous market categories, from building to personal care, resulting in great demand and a significant market share in the pine chemicals market.
The growing global trend toward sustainable and environmentally friendly alternatives strengthens tall oil's market position. Tall oil, as a renewable resource, is consistent with the growing trend for bio-based goods among consumers and industries. Its application in the production of bio-based fuels, lubricants, and other green chemicals gives it a competitive advantage in the market, driving demand across a variety of ecologically concerned businesses.
Furthermore, Tall Oil's market domination is due in part to its low cost and relative abundance. Tall oil, a byproduct of the Kraft pulping process in paper making, is widely available and often less expensive than synthetic alternatives. Its availability and reasonable pricing make it an appealing option for businesses, resulting in extensive use and market share in the pine chemicals market.
The paints & coatings segment is estimated to hold the largest share of the pine chemicals market during the forecast period. The growing expansion of the worldwide building sector is pushing up demand for paints and coatings, which is increasing the use of pine chemicals. Protective and ornamental coatings are widely used in construction projects around the world, with many of them containing pine-derived compounds for their adhesive and water-resistant qualities. As urbanization and infrastructure development intensify, especially in emerging nations, the demand for pine chemicals in paints and coatings is likely to stay high.
Stricter environmental restrictions are encouraging paint makers to use more sustainable and eco-friendly compositions. Pine chemicals, which are bio-based and renewable, are becoming increasingly popular over petroleum-based alternatives. These laws, together with rising consumer awareness of environmental issues, are encouraging paint and coating producers to include more pine-derived chemicals in their products, reinforcing the segment's dominance in the pine chemicals market.
Furthermore, continuous research and development in coating technologies is yielding better formulations with increased performance characteristics. Pine chemicals play an important role in these advancements, giving features including increased durability, weather resistance, and faster drying time. As coating technologies advance, the need for specific pine chemical compounds in high-performance paints and coatings is predicted to increase, ensuring this segment's market leadership.
Europe region is estimated to dominate the pine chemicals market during the forecast period. Europe has a strong forestry sector, which ensures a stable supply of raw materials for pine chemicals. According to the European Forest Institute, forests cover 35% of Europe's land area, or 215 million hectares. According to the Food and Agriculture Organization (FAO), Europe produced over 790 million cubic meters of roundwood in 2022, accounting for roughly 23% of global production. This abundant forest resource base serves as the foundation for the region's growing pine chemical sector.
Europe is at the forefront of the bio-based product revolution, resulting in increased demand for pine chemicals as renewable alternatives. According to the European Commission, the EU's bioeconomy will generate €2.4 trillion in 2022, with bio-based sectors playing a large role in this amount, increasing demand for pine chemicals.
Furthermore, Europe's stringent environmental rules encourage the use of renewable, bio-based compounds such as pine derivatives. According to the European Chemical Industry Council (CEFIC), bio-based chemicals accounted for around 30% of total European chemical production by 2023. The EU's REACH regulation and Circular Economy Action Plan encourage firms to adopt more sustainable practices, which benefits the pine chemicals market. The European Commission intends to boost the market share of bio-based chemicals to 25% by 2030, which will fuel the expansion of pine chemicals in the region.
The Asia Pacific region is estimated to exhibit the highest growth during the forecast period. The Asia Pacific region is undergoing a construction boom, which is driving up demand for pine-based paints, varnishes, and adhesives. According to the Asian Development Bank, Asia's infrastructure investment needs would total more than $26 trillion between 2016 and 2030, or $1.7 trillion annually. This significant investment is driving up demand for pine chemicals in construction applications throughout the region.
Asia Pacific's automotive sector is quickly expanding, increasing demand for pine-derived compounds used in car adhesives, sealants, and coatings. According to the International Organization of Motor Vehicle Manufacturers, Asia produced more than 55% of global motor cars in 2023, with China accounting for 30% of those. This dominance in vehicle manufacturing is fueling the region's pine chemicals market.
Furthermore, Asia Pacific countries are enforcing stronger environmental restrictions, which are encouraging the use of bio-based compounds such as pine derivatives. For example, China's 14th Five-Year Plan (2021-2025) plans to cut carbon emissions per unit of GDP by 18% from 2020 levels. This push for sustainability is driving up demand for pine chemicals as renewable alternatives to petroleum-based goods in a variety of businesses around the region.
The pine chemicals market is highly consolidated, with only a few main manufacturers dominating the industry. Competitors in this market concentrate on creating cost-effective rectification procedures to generate high-quality pine chemicals that can be used in a variety of applications, including coatings, adhesives, lubricants, inks, and others.
Some of the prominent players operating in the pine chemicals market include:
In November 2023, Ingevity collaborated with TRiiSO, LLC to expand Capa(R) distribution in the US and Canada.
In August 2023, Pine Chemical Group launched a new production facility in Kotka.