Global Colophony Market to be Driven by the Rising Demand from the Application Segments in the Forecast Period of 2021-2026 | ExpertMarketResearch.Com.
The new report by Expert Market Research titled, ‘Global Colophony Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global colophony market, assessing the market based on its segments like types, grades, forms, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Colophony Market |
Note 1:
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(2021-2026), along with business strategies and detailed market
segmentation, please click on the request sample report. The sample
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The key highlights of the report include:
Market Overview (2021-2026)
Historical Market Size (2020): USD 1.8 Billion (Global Gum Rosin Market)
Forecast CAGR (2021-2026): 3% (Global Gum Rosin Market)
Forecast Market Size (2026): USD 2.2 Billion (Global Gum Rosin Market)
Due
to the rising demand from key application industries, such as
adhesives, printing inks, and synthetic rubber, the industry is expected
to expand at a considerable pace over the coming years. In the
synthetic rubber industry, gum rosin is used widely as a binder in
adhesives and as softeners. The rapid growth expected for the adhesive
and synthetic rubber industries is expected to drive the growth of the
industry during the forecast period due to the high significance of
these product’s applications. Factors, such as economic development,
industrial growth, increasing disposable incomes for customers, and
higher living standards, have placed high pressure on the automotive and
building and construction industries for higher demand and
better-quality goods, which is aiding the market growth.
Industry Definition and Major Segments
Colophony,
also referred to as rosin or Greek pitch, is collected from confiners
and pines. In appearance, it is semi-transparent and available in yellow
or black. Without the use of solvents, rosin extraction relies on
temperature and pressure to extract oils. In the manufacturing of paints
and coatings, rosin ester resins, food grade ester gum, electronic
industrial goods, soaps, rubbers, inks, and paper, it is an important
raw material.
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On the basis of type, the industry is divided into:
Gum
Tall Oil
Wood
Based on grade, the industry is divided into:
X (Pale Yellow)
WW (Slight Yellow)
WG (Yellow)
N (Deep Yellow)
M (Yellow Brown)
K (Yellow Red)
Colophony has wide applications in the following industries:
Adhesives
Printing Inks
Food Processing
Rubber
Paper Sizing
Coatings
Pharmaceuticals
Others
The forms of the colophony can be segmented as follows:
Crystals/Chunks
Lumps
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On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
The
growing demand from the end-use sectors, including synthetic rubber and
printing inks, are the major drivers for the global market for
colophony. Gum rosin is commonly used in the adhesive and synthetic
rubber industries as a softener and binder. During the forecast period,
the speedy growth in the synthetic rubber and adhesives industries is
expected to serve as a major driver for the global demand for colophony.
In addition, the market for colophony for better-quality goods has
increased with the rapid growth in the building and construction and the
automotive industries. This also serves as a significant factor driving
the global colophony market. The instability of gum rosin and the
fluctuation of raw material prices constitute a significant constraint
on the demand for colophony. In Latin American countries, including
Brazil and Argentina, the development of end-use industries represents a
significant growth opportunity for the global colophony market.
Key Market Players
The
major players in the market are Eastman Chemical Company, Forestar
Chemical Co. Ltd., Foshan Baolin Chemical Industry Co. Ltd., BiologiQ,
Inc., Resin Chemicals Co. Ltd., and Kraton Corporation, among others.
The report covers the market shares, capacities, plant turnarounds,
expansions, investments, and mergers and acquisitions, among other
latest developments of these market players.
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Note 2:
As the novel coronavirus (COVID-19) continues to spread across the
world, our analysts are constantly tracking the impact of this rapidly
evolving situation on the markets and the consumer purchase behaviours.
Thus, our latest estimates and analysis about the current market trends
and forecast will exhaustively reflect the effects of this emerging
pandemic.
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