Market Size of Rosin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Rosin Market Analysis
The Global Rosin Market is projected to register a CAGR of more than 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020.
The market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- The growing demand for adhesives and increasing demand from the paints and coatings industry are the major factors driving the market.
- On the other hand, the availability of close substitutes is expected to hinder the market growth.
- Furthermore, the growing demand for bio-based products is expected as a market opportunity in the coming years.
- The Asia-Pacific region dominated the market worldwide, with countries like China, India, and Japan being the biggest consumers.
Rosin Industry Segmentation
Rosin, also known as colophony or Greek pitch, is a solid form of resin obtained from pines and other plants, mostly conifers, and is made by vapourising the volatile liquid terpene components of fresh liquid resin. It's semi-transparent and comes in various colors ranging from yellow to black.
The Rosin Market is segmented by rosin type, application, and geography. By rosin type, the market is segmented into gum, wood, and tall oil. By application, the market is segmented into adhesives, paints and varnishes, rubbers, paper sizing and fillers, printing inks, and other applications. The report also covers the market size and forecasts in 15 countries across major regions. Market sizing and forecasts have been done for each segment based on revenue (USD million).
| Rosin Type | |
| Gum | |
| Wood | |
| Tall Oil |
| Application | |
| Adhesives | |
| Paints and Varnishes | |
| Rubbers | |
| Paper Sizing and Fillers | |
| Printing Inks | |
| Other Applications |
| Geography | |||||||
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Rosin Market Size Summary
The rosin market is experiencing a steady recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The market's expansion is primarily driven by the increasing demand for adhesives and the burgeoning paints and coatings industry. However, the presence of close substitutes poses a challenge to market growth. The rising interest in bio-based products presents a significant opportunity for future market development. The Asia-Pacific region, particularly countries like China, India, and Japan, dominates the global market due to their substantial consumption and industrial activities. Gum rosin, in particular, is anticipated to be the fastest-growing segment, owing to its superior properties that enhance the performance of adhesives and its expanding application in paints and coatings.
The demand for rosin is further bolstered by its applications in hot-melt, pressure-sensitive, and rubber adhesives, which are crucial for the construction, packaging, and automotive industries. The growth in these sectors, coupled with the increasing need for packaging solutions, is expected to drive market expansion. In China, rapid urbanization and infrastructure development, supported by government initiatives, are significant contributors to the market's growth. The Indian government's substantial investment in housing is also set to enhance the demand for rosin in the paints and varnish segment. The market is characterized by partial fragmentation, with key players like Eastman Chemical Company and Harima Chemicals Group, Inc. actively shaping the competitive landscape through strategic acquisitions and business expansions.
Rosin Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand for Adhesives
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1.1.2 Increasing Demand from Paints and Coatings Industry
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1.2 Restraints
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1.2.1 Availability of Close Substitutes
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Rosin Type
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2.1.1 Gum
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2.1.2 Wood
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2.1.3 Tall Oil
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2.2 Application
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2.2.1 Adhesives
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2.2.2 Paints and Varnishes
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2.2.3 Rubbers
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2.2.4 Paper Sizing and Fillers
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2.2.5 Printing Inks
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Rosin Market Size FAQs
What is the current Rosin Market size?
The Rosin Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Rosin Market?
Eastman Chemical Company , Foreverest Resources Ltd , G.C. RUTTEMAN & Co. B.V., Henan Haofei Chemical Co.,Ltd and Harima Chemicals Group, Inc. are the major companies operating in the Rosin Market.
