Tall Oil Rosin Market to Be Dominated by VG Grades Segment Through 2027
Increasing demand for the
bio-based product, biofuel, and growing investment in the sector is expected to
drive the demand for the global tall oil rosin market in the forecast period,
2023-2027.
According to TechSci Research
report, “Global Tall Oil Rosin Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, The tall oil rosin
market is expected to grow at an impressive rate in the projected period,
2023-2027. The tall oil rosin market will likely increase due to the growing
demand for fuel additives, mining chemicals, adhesives, coatings, and inks.
According to the report published by Statista in 2022, the total size of the
construction industry market was 9.5 trillion dollars in 2014 and is expected
to reach 19.2 trillion USD in 2035. The report state that the market has grown
approx. 100% in the timeline of 20 years. The above data indicate that
construction activity will boost globally in the upcoming period. There is an
opportunity to increase the market share of tall oil rosin due to the growing
population and economic development. Thus, the tall oil rosin requirement will
rise in the anticipated period. The supply chain disturbance and scarcity of
well-trained labour restrained growth.
Government initiatives
like FTA (national biofuel policies, energy policies, EU biofuel policy, and
other policies) influence the market's growth. Likewise, growing automobiles,
construction, healthcare, aerospace, printing, mining, and electronics
industries and efforts by marketers to increase revenue as well as market share
are factors for the market's growth. Thus, the abovementioned factors will
drive the development and directly impact the Global adhesives & sealant
market growth. The annual average spending in the construction sector of the
USA has been 316 million in the past ten years. Thus, the demand for the tall oil rosin
market of the United States will experience growth in the projected year due to
their growing demand and increasing population.
Browse over XX market
data Figures spread through 110 Pages and an in-depth TOC on "Global
Tall Oil Rosin Market"
The global tall
oil rosin Market is segmented based grade, and end -user industry type.
Based on the
end-user industry type, the market is divided into fuel additives, mining
chemicals, adhesives, coatings and inks, and others. As per estimates, the
adhesives segment will experience the highest market share during the forecast
period. On growing construction activities around the world for the development
and fulfil the requirement of the people. During construction, adhesives are
necessary for adding different characteristics.
Based on resin
type, the market is divided into X grade, VG grade, and others. VG grades are
expected to account for a significant market share over the next projected
years. VG grades are used for sectors such as road construction, insulating
building, and other sectors. As these sectors are growing, the requirement for
the product is high. Thus, it will hold the largest share of the market.
Major
companies operating in global tall oil rosin market are:
·
Georgia-Pacific
Chemicals LLC
·
Kraton Corporation
·
GrantChem, Inc.
·
Eastman Chemical
Company
·
Forchem Oyj
·
Foreverest Resources
Ltd.
·
Harima Chemicals
Group Inc.
·
Ilim Group
·
Sunpine AB
·
Ingevity Corp.
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Asia-pacific is
expected to dominate the global market in the coming years due to its
government policy, raw resources, manufacturing expertise, low-cost workforce
availability, and innovation capabilities. The tall oil rosin market is
anticipated to increase due to the growing demand for fuel additives, mining
chemicals, adhesives, coatings, and inks. According to a report published by
Statista, the market value of global biofuels will be 110 billion USD in 2021
and is expected to reach 201 million USD in 2030. Thus, the tall oil
requirement will indirectly influence the market's growth in the forecasted
year.
The demand for
tall oil rosin is anticipated to grow worldwide in the upcoming year due to its
diverse usage, bio-based compound, and effectiveness. Technological
improvement, collaboration, merger, and acquisition are the various managerial
activities impacting the market's growth. On growing demand for automobiles,
construction, healthcare, aerospace, printing, mining, electronics industries
products, and government policies such as National biofuel policies, energy
policies, EU biofuel policy, and others are market propelling factors. All the
factors mentioned above are expected to impact market growth and create
favorable conditions to push the global tall oil rosin market growth till
2027.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Tall Oil Rosin
Market, 2027- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027,
By Grade (X Grade, WG Grade, and Others), By Application (Fuel Additives, Mining Chemicals, Adhesives, Coatings and
Inks, and Others), By Company and By Region, has evaluated the future
growth potential of global tall oil rosin market and provides statistics &
information on market size, structure, and future market growth. the report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in global tall oil rosin market.”
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