Pine-derived chemicals are extracted from pine trees and find applications in several sectors such as adhesives, paints and coatings, flavors and fragrances, cleaning and detergent products, and more. In terms of value, the global pine-derived chemicals market size is expected to be worth USD 5.5 billion in 2022 and USD 6.8 billion by 2027, with a CAGR of 4.5%. Pine-derived chemicals is a major commercial product of pine trees. Pine-derived chemicals are used in the manufacturing of paints & coatings, adhesives & sealants, surfactants, and printing inks. Additionally, it finds its application in cosmetics, vitamin intermediates, pine oil disinfectants & insect repellents, fragrances & perfumes, and food & drink flavors.
How Bio-friendly Products Driving the Pine-Derived Chemicals Industry
The exponential rise in demand for these products can be attributed to consumers’ growing inclination towards environmentally friendly products. These substances function as a means of reducing carbon emissions by using natural and renewable resources as raw materials to create necessities and basic goods. The industry gets its raw materials from the forestry sector and uses living trees, pine stumps, and logs to make the chemicals generated from pine. One well-known example of pine chemistry with a wide range of uses is crude tall oil (CTO). According to a presentation by the American Chemistry Council (ACC), the rise in demand for chemicals generated from pine over other chemical alternatives will cause the global availability of CTO to reach 2.26 million tonnes annually by 2030.
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Pine-Derived Chemicals Market Trends
Growing Demand for Sustainable and Bio-based Products:
Pine-derived chemicals are often considered sustainable and environmentally friendly. As consumer awareness of sustainability increases, there is a growing demand for bio-based products, including those derived from pine.
Expanding Applications in Various Industries:
Pine-derived chemicals find applications in diverse industries such as adhesives, paints and coatings, food and beverages, cosmetics, and pharmaceuticals. The market is witnessing expansion as companies explore new applications and formulations for these chemicals.
Research and Development for Innovative Products:
Ongoing research and development efforts are focused on discovering new applications and improving the extraction and processing methods for pine-derived chemicals. Innovations in this field contribute to the development of higher-value products.
Global Shift Towards Green Chemistry:
The global emphasis on green chemistry practices has influenced the pine-derived chemicals market. Companies are increasingly adopting sustainable and environmentally friendly production processes, aligning with green chemistry principles.
Technological Advancements in Extraction Techniques:
Advancements in extraction technologies, such as advanced distillation and fractionation techniques, are enhancing the efficiency of pine-derived chemical extraction. This, in turn, contributes to the overall growth and competitiveness of the market.
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The krafting process is projected to account for the second-largest share in the pine-derived chemicals market during the forecast period
By process, the pine-derived chemicals market is segmented into kraft process and tapping process. Most of the pine-derived companies in the world use kraft process as the primary technique for extracting pine chemicals. The kraft process is beneficial in reducing environmental damage by reducing the impact of waste material generated from pulping process.
North America is the largest region in the pine-derived chemicals market in the forecast period
North America accounted for the largest region in the global pine-derived chemicals market in the forecast period. For the last few decades, the region has witnessed an increase in implementing new and innovative approaches in kraft process for extraction of pine chemicals. These factors have driven the market for construction, cosmetics, vitamin intermediates, pine oil disinfectants & insect repellents, fragrances & perfumes, and food & drink flavors in the region, which in turn, has contributed to the growth of the pine-derived chemicals market.
Prominent firms featured:
Foreverest Resources Ltd, (China), Harima Chemical Company (Japan), Takasgo International Corporation (Japan), Chemiplas Australia Pvt Ltd (Australia), Mentha and Allied Products Ltd., (India).