The global pine-derived chemicals market size is estimated to be valued at USD 5.5 billion in 2022. It is projected to reach USD 6.8 billion by 2027, recording a CAGR of 4.5% in terms of value. The increasing demand for renewable resources and the application of pine-derived chemicals in the end-user industry to drive the market.
What are pine-derived chemicals?
Pine-derived chemicals are substances that are extracted or derived from various parts of pine trees, such as the bark, needles, or resin. These chemicals have a wide range of applications across industries, including the following:
1. Fragrances and Flavors: Pine-derived chemicals are often used in perfumes, air fresheners, and food flavorings due to their pleasant aroma and taste.
2. Adhesives and Resins: Pine resin contains compounds like rosin and turpentine, which are essential components in the production of adhesives, varnishes, and paints.
3. Pharmaceuticals: Certain compounds extracted from pine trees have medicinal properties and are used in pharmaceutical products. For example, pine bark extract is known for its antioxidant properties and potential health benefits.
4. Cleaning Products: Pine oil, a natural disinfectant and degreaser obtained from pine needles, is commonly used in household cleaning products.
5. Industrial Chemicals: Pine-derived chemicals find applications in various industrial processes, such as in the production of lubricants, solvents, and pesticides.
6. Nutraceuticals: Pine-derived compounds are sometimes used in dietary supplements and nutraceuticals for their potential health-promoting effects.
Pine-Derived Chemicals Market Drivers
Increasing demand for bio-friendly products: The demand for these products is exponentially increasing because consumers are inclined more toward environment-friendly products. These chemicals use natural and renewable products as raw materials to develop basic as well as necessary items and serve as a mechanism to lower the carbon footprint. The pine-derived chemicals are obtained from living trees, pine stumps, and logs for which the industry depends on raw materials from the forestry sector. Crude Tall Oil (CTO) is a very prominent example of pine chemistry which has varied applications. American Chemistry Council (ACC) presented that the global availability of CTO will increase to 2.26 million tonnes per year by 2030, owing to the growth of pine-derived chemicals over their chemical substitutes.
Pine-Derived Chemicals Market Trends
The pine-derived chemicals market has been witnessing notable trends driven by various factors such as increasing environmental awareness, growing demand for sustainable products, and advancements in extraction and processing technologies. Some prominent trends in the pine-derived chemicals market include:
1. Sustainability and Environmental Concerns: With a rising emphasis on sustainability, there’s a growing preference for pine-derived chemicals over petroleum-based alternatives. Consumers and industries alike are recognizing the environmental benefits of using renewable resources like pine derivatives, contributing to the expansion of the market.
2. Shift towards Bio-based Products: Pine-derived chemicals serve as raw materials for a wide range of bio-based products including adhesives, solvents, flavors, fragrances, and lubricants. This trend is gaining momentum as companies seek alternatives to fossil fuels, reducing their carbon footprint and reliance on non-renewable resources.
3. Application Diversification: Pine-derived chemicals find applications across various industries including pharmaceuticals, food and beverages, cosmetics, and agriculture. As research and development efforts continue to explore new applications and functionalities of pine derivatives, the market is witnessing diversification and expansion into novel sectors.
4. Technological Advancements: Advances in extraction, purification, and processing technologies are enhancing the efficiency and yield of pine-derived chemicals. Innovations such as green chemistry techniques, enzymatic processes, and biorefinery concepts are driving optimization in production processes, leading to cost reduction and improved product quality.
5. Regulatory Landscape: Stringent environmental regulations and policies aimed at reducing greenhouse gas emissions and promoting sustainable practices are influencing the pine-derived chemicals market. Compliance with regulatory standards and certifications such as Forest Stewardship Council (FSC) certification is becoming increasingly important for market players to ensure sustainable sourcing and production practices.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=36161841
The krafting process is projected to account for the second-largest share in the pine-derived chemicals market during the forecast period
By process, the pine-derived chemicals market is segmented into kraft process and tapping process. Most of the pine-derived companies in the world use kraft process as the primary technique for extracting pine chemicals. The kraft process is beneficial in reducing environmental damage by reducing the impact of waste material generated from pulping process.
North America is the largest region in the pine-derived chemicals market in the forecast period
North America accounted for the largest region in the global pine-derived chemicals market in the forecast period. For the last few decades, the region has witnessed an increase in implementing new and innovative approaches in kraft process for extraction of pine chemicals. These factors have driven the market for construction, cosmetics, vitamin intermediates, pine oil disinfectants & insect repellents, fragrances & perfumes, and food & drink flavors in the region, which in turn, has contributed to the growth of the pine-derived chemicals market.
Pine-Derived Chemicals Market Share
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Kraton Corporation(US), Eastman Chemical Company (US), Georgia Pacific Chemicals LLC (US), among others.
About MarketsandMarkets™
MarketsandMarketsTM has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pine-derived-chemicals-market-36161841.html