The global gum
rosin market is expected to reach USD 2.49 billion by 2024, according
to a new report by Grand View Research, Inc. Increasing demand of gum rosin
owing to growth of synthetic rubber industry primarily in China is expected to
drive the market growth. Increasing demand for high grade gum rosin products
including WW and X grade by application industries is expected to benefit the
market growth. The industry is characterized by abundance of raw materials in
major producing regions such as Brazil, Indonesia, and China. In addition, the
availability of low-cost labor, coupled with rapid development of the paper and
adhesives industries in the region, is anticipated to provide impetus to the
market growth.
The industry growth is expected to be restrained by
increasing substitution of gum rosin by tall oil rosin. In addition,
unfavorable weather conditions in China is expected to act as a major restraint
for growth.
The market is expected to be driven by availability of
low-cost gum rosin produced in Brazil and Indonesia. In addition, rapid
development of the rubber, inks, and adhesives industry in Europe is likely to
translate into increasing demand for the product in the region.
Browse full research report on Gum Rosin Market: https://www.grandviewresearch.com/industry-analysis/gum-rosin-market
Further
key findings from the report suggest:
- WG gum rosin accounted for nearly 25% of the market volume in 2015
owing to growth in the demand by adhesives and paints & coatings
industry in Europe. Increasing price reductions and discounts offered by
the Chinese manufacturers is expected to attract the consumers towards the
product contributing towards market growth.
- The demand for the product in adhesives accounted for over USD 700
million in 2015 owing to increasing use of the compound as an ingredient
for the manufacture of adhesives. In addition, rapid development of the
adhesives industry in China and India is expected to translated into a
growing demand for the compound over the forecast period.
- China is expected to emerge as the biggest market player for gum
rosin, growing at a CAGR of over 3% from 2016 to 2024 owing to significant
development of the application industries including rubber, adhesives,
inks, paper sizing, and paints & coatings in the region. In addition,
growth of the end-use industries such as building & construction and
automotive in the region is expected to drive the market growth.
- Key participants include Wuzhou Pine Chemicals, Groupo RB (Resinas
Brasil Group), CV Indonesia Pinus, Guangdong KOMO and Socer Brasil. The
companies in the domain are focused on price reductions and discounts as
major strategies for increasing the market share.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
Grand
View Research has segmented the global gum rosin market on the basis of
product, application and region:
Product
Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- WW
- WG
- XN
- M
- K
- Others
Application
Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- Rubber
Softener
- Adhesives
- Paper Sizing
- Thermoplastic
coatings
- Food
- Inks
- Others
Regional
Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- U.S.
- Europe
- China
- Japan
- Rest of the
World
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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