HOME Research Insight New Product Developments and Mergers & Acquisitions have been adopted by the Key Players to Meet the Increasing Demand of Pine-Derived Chemicals



New Product Developments and Mergers & Acquisitions have been adopted by the Key Players to Meet the Increasing Demand of Pine-Derived Chemicals


The pine-derived chemicals market is highly fragmented and competitive with leading players such as Eastman Chemical Company (U.S.), Renessenz LLC (U.S.), Harima Chemicals Group, Inc. (Japan), Arakawa Chemical Industries, Ltd. (Japan), and MeadWestvaco Corporation (U.S.). Other players include Arizona Chemical Company, LLC (U.S.), DRT (Dérivés Résiniques et Terpéniques) (France), Georgia-Pacific Chemicals LLC. (U.S.), Mentha & Allied Products Pvt. Ltd. (India), and Foreverest Resources Ltd. (China). The pine-derived chemicals market is projected to reach USD 5.27 billion by 2021, at a CAGR of 4.5% from 2016 to 2021. The key driving factors of the pine-derived chemicals market include growing industrialization; increasing environmental concerns which leads to an increased preference for pine-derived chemical products because of their environment-friendliness and low carbon footprint; and the promising growth for bio-refined products and increasing demand for activated carbon used in air and water purification. Also, the increasing applications of pine-derived chemicals along with increasing disposable income fuels the demand of the pine-derived chemicals market.

Key strategies such as expansions and investments, agreements, joint ventures & partnerships, new product developments, and mergers & acquisitions have been adopted by the key players to meet the increasing demand of pine-derived chemicals. Leading players actively invest in R&D activities to offer a diversified product portfolios, focus on competitive reach in the pine-derived chemicals market, and make use of opportunities to increase its geographical footprint and also improve its distribution network through the means of vertical integration.

Eastman Chemical Company (U.S.)

Eastman Chemical Company is a globally diverse specialty chemicals company that manufactures chemicals, fibers, and plastic materials. It caters to five business segments, namely, additives & functional products, adhesives & plasticizers, advanced materials, fibers, and specialty fluids & intermediates. The company has a strong distribution channel across the globe and supplies its wide range of products in approximately 100 countries. The company operates worldwide which includes 42% presence in U.S. and 58% in other foreign countries. The company focuses on the environmental impact and sustainability of the products produced and is a member of Responsible Care, a global voluntary initiative developed autonomously by the chemical industry to improve health, safety, and environmental performance. It is committed to providing credible, scientific information that supports the safety of its products. Eastman preferred acquisitions as its key strategy to expand its product portfolio and global reach. In 2014, it acquired Commonwealth Laminating & Coating, Inc. (U.S.) which helped it to better serve its broad and diverse customer base, globally. In the same year, it acquired Taminco Corporation (U.S.) which helped the company to widen its product range. In 2012, Eastman acquired Solutia Inc. (U.S.), which supported the company’s growth strategy to increase revenue and profit margins by expanding its geographic scope. The company also adopted expansions as a strategy to increase its production and global presence. It expanded several product manufacturing capacities in 2012 and 2014 to meet the market demand for its innovative products. For instance in January 2016, it introduced nGen made with Eastman Amphora AM3300 3D polymer which adds functional properties and top print quality to the filament line and has the ability to print within a wide processing range.

MeadWestvaco Corporation (MWV) (U.S.)

The company is engaged in food, beverage, tobacco, beauty & personal care, healthcare, and home & garden business sectors around the world. It provides specialty chemicals to the automotive, infrastructure, and energy exploration industries. It is a pioneer of tall oil-based emulsifiers, plasticizers, and tackifiers to synthetic rubber. It has a wide product portfolio of rosin acids, rosin soaps, mixed acids, and fatty acids. The company is facilitated with wholly owned manufacturing capabilities in North and South America, and access to manufacturing facilities in Europe. It has operating facilities in 30 countries, and markets its products in every continent. It focuses on strategic growth opportunities and has acquired and merged with other companies to strengthen its market position and strengthen its product portfolio by launching new products in the market. In April 2015, the company acquired International Paper Co.’s (U.S.) Carolina coated bristols business, a printing paper business. This helped the company to widen its product portfolio and provide a competitive edge and also to meet the increased demand for customized containers.

Related Reports:

Pine-Derived Chemicals Market by Type (TOFA, TOR, Gum Turpentine, Gum Rosin, Pitch, Sterols, Others), Application (Paints & Coatings, Adhesives & Sealants, Surfactants, Printing Inks), Source, Processes, and by Region - Global Forecast to 2021

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