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.
 |
| China gum rosin market volume, by product, 2013 - 2024 (Tons) |
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: 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: 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
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-gum-rosin-market
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.
No comments:
Post a Comment