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

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 objectives of the study are to define, segment, and measure the pine-derived chemicals market with respect to its types, applications, sources, processes, and key regional markets. They also include major factors influencing the growth of the market, strategically analyze the micromarkets, analyze opportunities for stakeholders, provide details of competitive landscape, and strategically profile the key players with respect to their market share and core competencies.

The years considered for the study are:

• Base year – 2015
• Estimated year – 2016
• Projected year – 2021
• Forecast period – 2016 to 2021

This report includes estimations of market sizes for value (USD billion). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the pine-derived chemicals market and to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research (FAO, Bloomberg, Factiva, companies’ annual reports), and their market share in respective regions has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources.

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

The various contributors involved in the value chain of pine-derived chemicals include pine-derived chemicals manufacturers such as Eastman Chemical Company (U.S.), Harima Chemicals Group, Inc. (Japan), Ingevity Corporation (U.S.), Arizona Chemical Company, LLC (U.S.), and Mentha & Allied Products Pvt. Ltd. (India); government bodies & regulatory associations such as United States Department of Agriculture (USDA), Pine Chemicals Association (PCA), American Chemistry Council (ACC), and Environmental Protection Agency (EPA); distributors such as Renessenz LLC (U.S.), Arakawa Chemical Industries, Ltd. (Japan), and Mentha & Allied Products Pvt. Ltd. (India); and end uses such as adhesives & sealants, paints & coatings, surfactants, printing inks, and others which include food additives, cosmetics additives, and seed coatings.

Target Audience

• Pine-derived chemicals manufacturers
• Pine-derived chemicals suppliers
• Research institutions
• Government bodies
• Distributors
• End users (industries) (adhesives & sealants, paints & coatings, surfactants, printing inks, other industries)

“The study answers several questions for stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.”

Scope of the Report

On the basis of Type, the pine-derived chemicals market is segmented as follows:

• Tall oil fatty acid
• Tall oil rosin
• Gum turpentine
• Gum rosin
• Sterols
• Pitch
• Others (CST and its derivatives)

On the basis of Application, the pine-derived chemicals market is segmented as follows:

• Adhesives & sealants
• Paints & coatings
• Surfactants
• Printing inks
• Others (food additives, cosmetics additives, and seed coatings)

On the basis of Source, the pine-derived chemicals market is segmented as follows:

• Living trees
• Dead pine stumps & logs
• By-products of sulphate pulping

On the basis of Process, the pine-derived chemicals market is segmented as follows:

• Kraft
• Tapping

On the basis of Region, the pine-derived chemicals market is segmented as follows:

• North America
• Europe
• Asia-Pacific
• Latin America
• RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the client-specific needs.

The following customization options are available for the report:

Product Analysis

• Product matrix, which gives a detailed comparison of the product portfolio of each company

Application Analysis

• Application analysis, which gives a detailed analysis of other applications of pine-derived chemicals

Regional Analysis

• Further breakdown of the Rest of World pine-derived chemicals market into Middle Eastern countries
• Further breakdown of the Rest of Asia-Pacific pine-derived chemicals market into other Asian countries

Company Information

• Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Periodization Considered for the Study
    1.4 Currency Considered
    1.5 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Industry Insights
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Analysis
                    2.2.2.1 Demand for Eco-Friendly and Sustainable Products
                    2.2.2.2 Increased Demand for Paints & Coatings
           2.2.3 Supply-Side Analysis
                    2.2.3.1 Increasing Trends of Planted Forests
                    2.2.3.2 High Levels of Marketing and Advertising
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown & Data Triangulation
    2.5 Research Assumptions & Limitations
           2.5.1 Assumptions
           2.5.2 Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Extensive Market Opportunities in the Pine-Derived Chemicals Market
    4.2 Pine-Derived Chemicals Market, By Type
    4.3 Asia-Pacific: the Fastest Growing Market for Pine-Derived Chemicals
    4.4 Pine-Derived Chemicals Market Growth, By Country
    4.5 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 35)
    5.1 Introduction
           5.1.1 Market Segmentation
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand for Environment-Friendly Products
                    5.2.1.2 Increasing Demand in the Asia-Pacific Construction Market
                    5.2.1.3 Advancements in Technology and Improvement on the Production Side
           5.2.2 Restraints
                    5.2.2.1 Government Incentives for Burning Biomass
           5.2.3 Opportunities
                    5.2.3.1 Opportunities in Developing Countries
                    5.2.3.2 Promising Growth for Biorefined Products
                    5.2.3.3 Bioliquids for Renewable Energy
           5.2.4 Challenges
                    5.2.4.1 Rising Labor Cost

6 Industry Trends (Page No. - 41)
    6.1 Introduction
    6.2 Supply Chain Analysis
    6.3 Value Chain Analysis
    6.4 Porter’s Five Forces Analysis
           6.4.1 Intensity of Competitive Rivalry
           6.4.2 Bargaining Power of Suppliers
           6.4.3 Bargaining Power of Buyers
           6.4.4 Threat of New Entrants
           6.4.5 Threat of Substitutes

7 Pine-Derived Chemicals Market, By Type (Page No. - 45)
    7.1 Introduction
    7.2 Tall Oil Fatty Acid
    7.3 Tall Oil Rosin
    7.4 Gum Turpentine
    7.5 Gum Rosin
    7.6 Sterols
    7.7 Pitch
    7.8 Other Pine-Derived Chemicals

8 Pine-Derived Chemicals Market, By Application (Page No. - 55)
    8.1 Introduction
    8.2 Adhesives & Sealants
    8.3 Paints & Coatings
    8.4 Surfactants
    8.5 Printing Inks
    8.6 Others Applications

9 Pine-Derived Chemicals Market, By Source (Page No. - 63)
    9.1 Introduction
    9.2 Living Trees
    9.3 Dead Pine Stumps & Logs
    9.4 By-Products of Sulfate Pulping (Kraft Process)

10 Pine-Derived Chemicals Market, By Process (Page No. - 68)
     10.1 Introduction
     10.2 Kraft Process
     10.3 Tapping

11 Pine-Derived Chemicals Market, By Region (Page No. - 72)
     11.1 Introduction
             11.1.1 Pest Analysis
             11.1.2 Political Factors
             11.1.3 Economic Factors
             11.1.4 Social Factors
             11.1.5 Technological Factors
     11.2 North America
             11.2.1 U.S.
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 U.K.
             11.3.2 Germany
             11.3.3 Russia
             11.3.4 Rest of Europe
     11.4 Asia-Pacific
             11.4.1 China
             11.4.2 India
             11.4.3 Australia
             11.4.4 Rest of Asia-Pacific
     11.5 Latin America
             11.5.1 Brazil
             11.5.2 Argentina
             11.5.3 Rest of Latin America
     11.6 Rest of the World (RoW)
             11.6.1 South Africa
             11.6.2 Others in RoW

12 Competitive Landscape (Page No. - 106)
     12.1 Overview
     12.2 Competitive Situation & Trends
             12.2.1 Expansion & Investments
             12.2.2 Mergers & Acquisitions
             12.2.3 New Product Launches
             12.2.4 Agreements, Joint Ventures & Partnerships

13 Company Profiles (Page No. - 111)
     13.1 Introduction
(Overview, Financials, Products & Services, Strategy, and Developments)*
     13.2 Eastman Chemical Company
     13.3 Renessenz LLC.
     13.4 Harima Chemicals Group Inc.
     13.5 Arakawa Chemical Industries, Ltd.
     13.6 Ingevity Corporation
     13.7 Arizona Chemical Company, LLC
     13.8 DRT (Dérivés Résiniques ET Terpéniques)
     13.9 Georgia-Pacific Chemicals LLC.
     13.10 Mentha & Allied Products Pvt. Ltd.
     13.11 Foreverest Resources Ltd.

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 139)
     14.1 Discussion Guide
     14.2 More Company Developments
             14.2.1 Mergers & Acquisitions
             14.2.2 New Product Launches
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports

List of Tables (96 Tables)

Table 1 Pine Derived Chemicals Market: Drivers, Restraints, Opportunities & Challenges
Table 2 Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 3 Tall Oil Fatty Acid Market Size, By Region, 2014–2021 (USD Million)
Table 4 Tall Oil Rosin Market Size, By Region, 2014–2021 (USD Million)
Table 5 Gum Turpentine Market Size, By Region, 2014–2021 (USD Million)
Table 6 Gum Rosin Market Size, By Region, 2014–2021 (USD Million)
Table 7 Sterols Market Size, By Region, 2014–2021 (USD Million)
Table 8 Pitch Market Size, By Region, 2014–2021 (USD Million)
Table 9 Other Pine-Derived Chemicals Market Size, By Region, 2014–2021 (USD Million)
Table 10 Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 11 Pine-Derived Chemicals in Adhesives & Sealants Market Size, By Region, 2014–2021 (USD Million)
Table 12 Pine-Derived Chemicals in Paints & Coatings Market Size, By Region, 2014–2021 (USD Million)
Table 13 Pine-Derived Chemicals in Surfactants Market Size, By Region, 2014–2021 (USD Million)
Table 14 Pine-Derived Chemicals in Printing Inks Market Size, By Region, 2014–2021 (USD Million)
Table 15 Pine-Derived Chemicals in Other Applications Market Size, By Region, 2014–2021 (USD Million)
Table 16 Pine-Derived Chemicals Market Size, By Source, 2014-2021 (USD Million)
Table 17 Pine-Derived Chemicals Market Size for Living Trees, By Region, 2014-2021 (USD Million)
Table 18 Pine-Derived Chemicals Market Size for Dead Pine Stump Wood, By Region, 2014-2021 (USD Million)
Table 19 Pine-Derived Chemicals Market Size for By-Products of Sulfate Pulping, By Region, 2014-2021 (USD Million)
Table 20 Pine-Derived Chemicals Market Size, By Process, 2014–2021 (USD Million)
Table 21 Kraft Process: Pine-Derived Chemicals Market Size, By Region, 2014–2021 (USD Million)
Table 22 Tapping Process: Pine-Derived Chemicals Market Size, By Region, 2014–2021 (USD Million)
Table 23 Pine-Derived Chemicals Market Size, By Region, 2014–2021 (USD Million)
Table 24 North America: Pine-Derived Chemicals Market Size, By Country, 2014–2021 (USD Million)
Table 25 North America: Pine-Derived Chemicals Market Size, By Type, 2016–2021 (USD Million)
Table 26 North America: Pine-Derived Chemicals Market Size, By Application, 2016–2021 (USD Million)
Table 27 U.S.: Pine-Derived Chemicals Market Size, By Type, 2016–2021 (USD Million)
Table 28 U.S.: Pine-Derived Chemicals Market Size, By Application, 2016–2021 (USD Million)
Table 29 Canada: Pine-Derived Chemicals Market Size, By Type, 2016–2021 (USD Million)
Table 30 Canada: Pine-Derived Chemicals Market Size, By Application, 2016–2021 (USD Million)
Table 31 Mexico: Pine-Derived Chemicals Market Size, By Type, 2016–2021 (USD Million)
Table 32 Mexico: Pine-Derived Chemicals Market Size, By Application, 2016–2021 (USD Million)
Table 33 Europe: Pine-Derived Chemicals Market Size, By Country, 2014–2021 (USD Million)
Table 34 Europe: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 35 Europe: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 36 U.K.: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 37 U.K.: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 38 Germany: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 39 Germany: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 40 Russia: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 41 Russia: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 42 Rest of Europe: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 43 Rest of Europe: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 44 Asia-Pacific: Pine-Derived Chemicals Market Size, By Country, 2014–2021 (USD Million)
Table 45 Asia-Pacific: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 46 Asia-Pacific: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 47 China: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 48 China: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 49 India: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 50 India: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 51 Australia: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 52 Australia: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 53 Rest of Asia-Pacific: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 54 Rest of Asia-Pacific: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 55 Latin America: Pine-Derived Chemicals Market Size, By Country, 2014–2021 (USD Million)
Table 56 Latin America: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 57 Latin America: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 58 Brazil: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 59 Brazil: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 60 Argentina: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 61 Argentina: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 62 Rest of Latin America: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 63 Rest of Latin America: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 64 RoW: Pine-Derived Chemicals Market Size, By Country, 2014–2021 (USD Million)
Table 65 RoW: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 66 RoW: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 67 South Africa: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 68 South Africa: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 69 Others in RoW: Pine-Derived Chemicals Market Size, By Type, 2014–2021 (USD Million)
Table 70 Others in RoW: Pine-Derived Chemicals Market Size, By Application, 2014–2021 (USD Million)
Table 71 Expansion & Investments, 2013-2014
Table 72 Mergers & Acquisitions, 2014-2015
Table 73 New Product Launches, 2014-2015
Table 74 Agreements, Joint Ventures & Partnerships, 2013-2015
Table 75 Eastman Chemicals: Products Portfolio
Table 76 Eastman Chemical Company: Recent Developments
Table 77 Renessenz LLC.: Products & Description
Table 78 Renessenz LLC.: Recent Developments
Table 79 Harima Chemicals Group: Products Portfolio
Table 80 Harima Chemicals Group: Recent Developments
Table 81 Arakawa Chemical Industries, Ltd : Products & Description
Table 82 Arakawa Chemical Industries, Ltd: Recent Developments
Table 83 Ingevity Corporation: Products & Description
Table 84 Ingevity Corporation: Recent Developments
Table 85 Arizona Chemical Company, LLC: Products & Description
Table 86 Arizona Chemical Company, LLC : Recent Developments
Table 87 DRT (Dérivés Résiniques ET Terpéniques): Products & Description
Table 88 DRT (Dérivés Résiniques ET Terpéniques): Recent Developments
Table 89 Georgia-Pacific Chemicals LLC.: Products & Description
Table 90 Georgia-Pacific Chemicals LLC.: Recent Developments
Table 91 Mentha & Allied Products Pvt. Ltd.: Products & Description
Table 92 Foreverest Resources Ltd.: Products & Description
Table 93 Foreverest Resources Ltd.: Recent Developments
Table 94 Expansion & Investments, 2011–2016
Table 95 Mergers & Acquisitions, 2011–2016
Table 96 New Product Launches, 2011–2016

List of Figures (44 Figures)

Figure 1 Pine-Derived Chemicals Market Segmentation
Figure 2 Pine-Derived Chemicals Market : Research Design
Figure 3 Breakdown of Primary Interviews: By Region, Designation & Company Type
Figure 4 Historical Trends in Planted Forests Across Various Countries
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Market Breakdown & Data Triangulation
Figure 8 Assumptions of the Study
Figure 9 Limitations of the Study
Figure 10 Pine-Derived Chemicals Market Growth Trend, 2014 - 2021
Figure 11 Pine Derived Chemicals Market, By Type: Gum Rosin is Expected to Dominate the Market Throughout the Forecast Period
Figure 12 Paints & Coatings Segment to Dominate the Global Pine-Derived Chemicals Market, By Application, 2016–2021
Figure 13 Pine-Derived Chemicals Market, By Source, 2016 vs 2021
Figure 14 Asia-Pacific is Projected to Be the Fastest-Growing Market for Pine-Derived Chemicals From 2016 to 2021
Figure 15 Expansion & Investments: Most Dominant Strategy in Pine Derived Chemicals Market
Figure 16 Demand for Environment-Friendly Products is Expected to Drive the Pine-Derived Chemicals Market
Figure 17 Increasing Market Share for Gum Rosin & Tall Oil Fatty Acid, 2016–2021
Figure 18 Paints & Coatings Have the Largest Share in Asia-Pacific in 2015
Figure 19 Maximum Growth to Be Seen in China and Russia During the Forecast Period (2016-2021)
Figure 20 Asia-Pacific Showcases Strong Growth Potential, 2016-2021
Figure 21 Pine Derived Chemicals: Supply Chain
Figure 22 Pine Derived Chemicals: Value Chain
Figure 23 Pine Derived Chemicals Market: Porter’s Five Forces Analysis, 2015
Figure 24 Gum Rosin Projected to Grow at the Highest CAGR From 2016–2021, (USD Million)
Figure 25 Pine-Derived Chemicals Market, By Application, 2016 vs 2021
Figure 26 Pine-Derived Chemicals Market, By Source, 2016 vs 2021
Figure 27 Geographic Snapshot (2016-2021): Asia-Pacific Markets are Emerging as New Hot Spots
Figure 28 North American Pine-Derived Chemicals Market Snapshot
Figure 29 European Pine-Derived Chemicals
Figure 30 Asia-Pacific Pine-Derived Chemicals Market: China & India to Drive Regional Market Growth
Figure 31 Expansion & Investments: Current Approach of Leading Pine-Derived Chemical Players
Figure 32 Portfolio Strengthening Through Expansion & Investments
Figure 33 Annual Developments in the Global Pine-Derived Chemicals Market, 2010–2015
Figure 34 Expansion & Investments: the Key Growth Strategies, 2011–2016
Figure 35 Geographical Revenue Mix of Top Five Market Players
Figure 36 Eastman Chemical Company: Company Snapshot
Figure 37 Eastman Chemical Company: SWOT Analysis
Figure 38 Renessenz LLC.: SWOT Analysis
Figure 39 Harima Chemicals Group: Company Snapshot
Figure 40 Harima Chemicals Group: SWOT Analysis
Figure 41 Arakawa Chemical Industries, Ltd: Company Snapshot
Figure 42 Arakawa Chemical Industries, Ltd: SWOT Analysis
Figure 43 Ingevity Corporation: Company Snapshot
Figure 44 Ingevity Corporation: SWOT Analysis

The market for pine-derived chemicals is projected to reach USD 5.27 Billion by 2021, at a CAGR of 4.5% from 2016 to 2021. The pine-derived chemicals market is driven by increasing environmental concerns, growing industrialization, and focus on use of renewable resources & resource optimization, which has led to a large-scale adoption of pine-derived chemicals for various applications. Also, with rapid increase in pollution and exploitation of fossil fuels, the pressure on the ecosystem has compelled the need to find alternatives to replace fossil fuels with renewable raw materials.

The pine-derived chemicals market is segmented on the basis of type into tall oil fatty acid, tall oil rosin, gum turpentine, gum rosin, sterols, pitch, and others which include CST and its derivatives. The gum rosin segment is projected to grow at the highest rate in terms of value, due to the increasing producers’ demand as it is commercially viable and owing to its high benefits. For instance rosin is used a flux in soldering. The lead-tin solder used in electronics has about 1% rosin as a flux core which helps in smooth flow of molten metal and making a better connection by reducing the refractory solid oxide layer formed at the surface back to metal.  Also the diverse applications of gum rosin in adhesives, paints & coatings, ink, rubber, paper, and gum-based candy fuels the demand of gum rosin in pine-derived chemicals market.. Also, the development of these downstream industries is further projected to boost the demand for gum rosin.

Based on applications, the pine-derived chemicals market is segmented into adhesives & sealants, paints & coatings, surfactants, printing inks, and others which include food additives, cosmetics additives, and seed coatings. The paints & coatings segment dominated the pine-derived chemicals market as it is cost-effective and safe to use. The changing lifestyles; increased usage of safe and eco-friendly products, especially in the urban areas; and growing environmental concerns are driving the market for pine-derived chemicals in the paints & coatings industry.

Based on source, the pine-derived chemicals market is segmented into living trees, dead pine stumps & logs, and by-products of sulphate pulping. By-products of sulphate pulping dominated the pine-derived chemicals market due to producers; reliance on this source owing its functional benefits.

The market is also segmented on the basis of processes into kraft and tapping. Tapping dominated the pine-derived chemicals market due to its functional benefits as it is a time saving & economic process and also due to the development & advancement of technology.

On the basis of region, the pine-derived chemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Rest of the World (RoW). North America dominated the global pine-derived chemicals market due to the developed industries in this region. Asia-Pacific is projected to be the fastest-growing region due to continuous increase in demand for pine-derived chemicals owing to the suitable climate and operational benefits from pine-derived chemicals along with increasing environmental concerns, growing industrialization, ease of doing business, and broad application spectrum are the factors driving the demand of pine-derived chemicals.

Stringent government regulations laws along with price war among different pine-derived chemicals manufacturers are restraining the market.

The pine-derived chemicals market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted expansions and investments as their preferred growth strategies. Key players such as Eastman Chemical Company (U.S.), Renessenz LLC (U.S.), Harima Chemicals Group, Inc. (Japan), Arakawa Chemical Industries, Ltd. (Japan), and Ingevity 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), which also have a strong presence in the global pine-derived chemicals market.

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