LONDON--(BUSINESS WIRE)--According to Technavio Research Report "Global Tall Oil Rosin Market by application (adhesives, printing ink, rubber, and others) and geographic regions (Europe, North America, APAC, South America, MEA,) is witnessed to grow by 36.71 thousand tons, at a CAGR of 2% from 2019 to 2023”.
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Global tall oil rosin market: Increasing use of tall oil rosin as an alternative to gum rosin
Gum rosin is extensively being used in the manufacture of offset printing inks owing to its robust physical and chemical properties. Tall oil rosins offer economic advantages over gum resin, due to which, it is increasingly being used to produce package printing inks which require glossy and quick-drying properties at the same time. In addition, tall oil rosin can replace gum rosin in other industries including the adhesives, paper sizing, and rubber industry applications. These factors will contribute to the continuous tall oil rosin market growth during the forecast period.
“Tall oil rosin production is resource-intensive in terms of water intensity but less with respect to energy. Tall oil rosin production process uses a minimal amount of fossil fuel, while offering a competitive advantage over gum rosin production. It also possesses a high potential to replace the use of gum rosin in industrial applications due to similar properties in performance,” says a senior research analyst at Technavio.
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Global tall oil rosin market: Segmentation analysis
This market research report segments the global tall oil rosin market by application (adhesives, printing ink, rubber, and others) and geographic regions (Europe, North America, APAC, South America, MEA,).
Europe led the market in 2018, followed by North America, APAC, South America, and MEA respectively. The market growth in Europe can be attributed to the presence of key production facilities of tall oil resin in different economies including Finland, Sweden, Austria, and France. The production and consumption of tall oil rosin is high in these economies due to the strong demand for flexible packaging which requires adhesives and printing inks manufactured from tall oil rosin.
Global tall oil rosin market: High demand for bio-based solvents, lubricants, and surfactants
A key factor driving the growth of the global tall oil rosin market is the high demand for bio-based solvents, lubricants, and surfactants. The growing demand for alternatives to petroleum-derived products has widened market opportunities for pine chemical derivatives including tall oil rosin, particularly, in the mining, floatation chemicals, and lubricants industry. This surge in demand can be attributed to the rising concerns pertaining to biodegradability and toxicity of fossil oil-based chemicals. In addition, other factors such as the rising need to reduce dependency on fossil resources, increasing awareness of the harmful effects of fossil-based solvents in personal care industry, and the biodegradable nature of bio-based products will boost the tall oil rosin market during the forecast period.
Few Major Players for the Global Tall Oil Rosin Market are:
- DRT- Les Dérivés Résiniques et Terpéniques
- Harima Chemicals Group Inc.
- Ingevity Corp.
- Kraton Corp.
- Sunpine AB
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