India Pine Chemicals Market Size, Share & Trends Analysis Report By Product Type (Tall oil, Rosin, Turpentine, Others), By Application (Paints and Coatings, Solvents and Disinfectants, Printing Ink, Synthetic Rubber, Flavors and Fragrances) and Forecasts, 2024-2032

Market Overview

The India pine chemicals market share witnessed significant growth in the past and is expected to grow at a CAGR of 7.0% during the forecast period (2022-2030).

Chemicals from pine trees (genus Pinus) are called pine chemicals. These trees originated in the northern hemisphere but have since spread. Carbonization of the wood or distillation of the oleoresin are two methods used to obtain the compounds found in pine. Dead pine stumps and logs, tree byproducts, and sulphate pulping are the three main places to find them. Industrial applications for these chemicals include but are not limited to, the production of resins, soaps, detergents, plasticizers, aroma compounds, and surface coatings.

Market Dynamics

India pine chemicals market drivers

Rosin sector spurs development in the pine chemicals market

There is a strong demand for gum rosin, a highly sought-after chemical used in printing, adhesives, and lubricants. The increasing emphasis on environmentally friendly and non-hazardous chemicals, as mandated by regulatory guidelines, has further fueled the demand for these substances. Consequently, the rosin segment has become a major driver in the pine chemical industry, accounting for 50% of the total market share. The rising demand for rosin can be attributed to the proliferation of small-scale businesses. The pandemic has witnessed the emergence of numerous small enterprises that incorporate rosin products in producing items such as soaps, ink, tile coatings, furniture, and more. As a result, there has been a significant surge in market demand for rosin.

Pine chemical production flourishes with the implementation of bio-based materials

The adhesives, coatings, and sealants sub-sector is a crucial driver of growth in the pine chemicals industry, holding a significant market share of 40%. This sector is experiencing expansion due to the thriving construction and development industry. The growing demand for coatings and adhesives can be attributed to the increasing number of renovation and retrofitting projects in residential and commercial infrastructure. According to the Adhesives and Sealants Industry (ASI), the pine chemicals market is projected to grow at a CAGR of 5%, reaching a market value of around USD 19 billion. This growth is primarily stimulated by regulations and guidelines that encourage using environmentally friendly and bio-based products, including disinfectants, coatings, and adhesives.

India pine chemicals market restraint

Market expansion of pine chemicals impeded by substitute availability

The pine chemicals market encounters a notable challenge due to the presence of readily available substitutes for pine-based products. These alternatives offer cost advantages to consumers, and despite the increasing importance of environmentally friendly products, their availability and affordability often overshadow environmental considerations. Substitutes like acrylic resin, alkyl succinic acid, and vegetable oil (especially soybean-food grade) divert consumer focus away from various pine-derived chemicals. As a result, this significantly impacts the pine chemicals market and other industries such as printing, painting, adhesives, oil, and gas, among others.

India pine chemicals market opportunities

Unlocking profitable avenues with organic materials

The coatings and adhesives sector has a significant opportunity to fulfill the growing need for sustainable materials by offering renewable and reusable alternatives. Producers in the industry are prioritizing the provision of materials that foster economic growth and stimulate demand and supply.

Various factors, including climate change, have a noteworthy impact on the industry, underscoring the significance of sustainable and organic materials. Within this context, the pine chemicals market emerges as a prominent supplier of raw materials. These materials, derived from living trees, deceased pine logs, and pulping stumps, are sourced and processed in a safe, bio-based, and non-hazardous.

Green packaging solutions: utilizing pine resources for sustainable packaging

The food and beverage packaging industry commands the largest market share, making up 92% of the overall retail packaging volume, equating to approximately 3.4 trillion units in the food sector. The considerable amount of packaging has raised concerns regarding its environmental impact. Consequently, industry regulations and standards drive rising demand for sustainable packaging. To meet this demand and tackle global climate challenges, market participants, including producers and suppliers, are redirecting their attention toward integrating packaging solutions that are compostable, renewable, recyclable, and reusable. Pine chemicals, sourced from plant origins, offer a promising alternative as they can be processed and converted into sustainable components for packaging materials.

Regional Analysis

The India pine chemicals market is segmented into product type, application, and source.

It is further segmented by product type into tall oil, rosin, turpentine, and others.

Tall Oil dominated the market and is expected to register a CAGR of 7.8% over the forecast period. The sulfate (kraft) process of paper production produces tall oil, a dark, odorous liquid that is refined and then used to produce coatings, sizing for paper, paint, varnish, linoleum, drying oils, emulsions, lubricants, and soaps. Resin acids like abietic acid, fatty acids like oleic and linoleic acid, and other components like sterols make up the bulk of tall oil. The cooking liquid from the wood pulping process must be chemically treated to obtain it. Adhesives, rubbers, and inks all use the tall oil as a component. Cement binders and asphalt emulsifiers both make use of the pitch.

Based on application, it is further segmented into paints and coatings, solvents and disinfectants, printing ink, synthetic fiber, and flavors and fragrances.

Paints and Coatings dominated the market and is expected to register a CAGR of 8.0% over the forecast period. Numerous surfaces, such as houses, automobiles, road markings, and subterranean storage tanks, are colored and protected with paints and coatings. Rosin is an additive in producing paints, coatings, and varnishes. It promotes rapid curing and produces glossy paints. Mineral Turpentine and white spirit are likely the most commonly employed solvents in paint formulation.

Based on the source, it is further segmented into pine trunks, aged pine stumps, and kraft pulp.

Pine Trunks dominated the market and are expected to register a CAGR of 7.4% over the forecast period. Pine oils are typically sourced through the time-honored and extensively used extraction method from pine trunks. This is the standard method for producing pine oil all around the world.

Segmental Analysis

The India pine chemicals market is segmented into product type, application, and source.

It is further segmented by product type into tall oil, rosin, turpentine, and others.

Tall Oil dominated the market and is expected to register a CAGR of 7.8% over the forecast period. The sulfate (kraft) process of paper production produces tall oil, a dark, odorous liquid that is refined and then used to produce coatings, sizing for paper, paint, varnish, linoleum, drying oils, emulsions, lubricants, and soaps. Resin acids like abietic acid, fatty acids like oleic and linoleic acid, and other components like sterols make up the bulk of tall oil. The cooking liquid from the wood pulping process must be chemically treated to obtain it. Adhesives, rubbers, and inks all use the tall oil as a component. Cement binders and asphalt emulsifiers both make use of the pitch.

Based on application, it is further segmented into paints and coatings, solvents and disinfectants, printing ink, synthetic fiber, and flavors and fragrances.

Paints and Coatings dominated the market and is expected to register a CAGR of 8.0% over the forecast period. Numerous surfaces, such as houses, automobiles, road markings, and subterranean storage tanks, are colored and protected with paints and coatings. Rosin is an additive in producing paints, coatings, and varnishes. It promotes rapid curing and produces glossy paints. Mineral Turpentine and white spirit are likely the most commonly employed solvents in paint formulation.

Based on the source, it is further segmented into pine trunks, aged pine stumps, and kraft pulp.

Pine Trunks dominated the market and are expected to register a CAGR of 7.4% over the forecast period. Pine oils are typically sourced through the time-honored and extensively used extraction method from pine trunks. This is the standard method for producing pine oil all around the world.

Recent Developments

• September 2021 – Kraton Corporation signed an agreement with DL Holdings Co, Ltd. As per the agreement, Kraton Corporation stockholders will receive USD 46.50 in cash for each share of Kraton common stock they own.
• March 2021 – Eastman and GP Cellulose worked with the Longleaf Alliance (LLA) to provide 60,000 longleaf pine seedlings to Torreya State Park in Northwest Florida. This collaboration is intended to protect forest ecosystems, support delicate wildlife communities, and help repair the planet for future generations.