Pine-Derived Chemicals Adoption Are Driven By The Increasing Focus On Efficient Forestry Management

The global pine-derived chemicals market is expected to each UD 4671.72 million and will exhibit a CAGR of 3.41%. Pine-derived chemicals are extracted or prepared from dead pine stumps and logs or are obtained as a by-product of Kraft. The market is driven by its growing demand in the biochemical industry and the increasing adoption of these chemicals in the preparation of food additives, perfumes, and household cleaners. 

Pine chemicals have found numerous applications such as lithography, gravure, flexography, ink binders for magazines, plastic bags, and packaging. The growing focus on environmental sustainability is driving the adoption of bio-based raw materials. Furthermore, ongoing research and development activities fueling the development of innovative and advanced products. Also, the growing concern regarding reducing the carbon footprint is bringing attention to the need for efficient and eco-friendly raw materials across several end-use industries. All the above-mentioned factors are having a positive impact on the overall market growth. 

The lack of resource abundance is serving as a key restraining factor for the market growth. The pine-chemical production occurs in Latin America, North America, and in some parts of Europe and Asia. North America has a strong presence in the global market due to the larger availability of pine trees in this region and significant advancements in technology. Also, Asia Pacific is likely to exhibit significant growth owing to the ease of operation in terms of production costs and the availability of manpower.

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Most turpentine is a common by-product of sulfate pulping; after which the turpentine is converted into components like beta-pinene, alpha-pinene, and other terpenes. The refined turpentine is used as a paint thinner and its derivatives are used as synthetic pine oil, insecticides, beta-pinene resins, and flavors & fragrances. The turpentine preparation from crude oleoresin converts the raw material into gum rosin and gum turpentine that are used in subsequent in the fabrication of various industrial products. 

Pine is also commonly used in the preparation of pharmaceutical products, repellents, plasticizers, antiviral and antimicrobial compounds, perfumery, toiletries, insecticides, and solvents. Insecticides from oleoresin are potentially harmful to human health as well as for the environment. Therefore, oleoresin‐derived terpenes are being used as an alternative as these are renewable and environment-friendly. Oleoresin derivatives called mono and sesquiterpenes are also used as a repellent against house flies and cockroaches. 

Besides woody biomass, native pine stands and pine plantations are being explored in China, Indonesia, and Brazil for the production of pine oleoresin. However, in southern Brazil, stringent government regulations to restrict the Pine plantation areas have restrained the establishment of new pine plantations. This has impelled the foresters to find alternatives to enhance and improve land-use efficiency while ensuring the sustainability of forestry business in southern Brazil. 

On the basis of product type, the market has been segmented into gum rosin (GR), tall oil Fatty acid (TOFA), tall oil rosin (TOR), gum turpentine (GT), and others. Based on applications, the market segmentation comprises adhesives & sealants, printing inks, paints & coatings, surfactants, and others. 

Some of the key players include Guilin Songquan Forest Chemical, WestRock (MeadWestvaco), Kraton Company (Arizona Chemical Company), Ingevity Corporation, Forchem, Harima Chemicals, Eastman Chemical, Mentha & Allied Products, Florachem, Arakawa Chemical Industries, Georgia-Pacific Chemicals, Wuzhou Sun Shine Forestry and Chemicals, DRT, and Foreverest Resources. 

The competitors are focusing on buying natural ingredients and are expanding their product portfolio by entering into collaborative activities with other market participants. For instance, in May 2018, Givaudan acquired Naturex, a maker of natural nutrition, food, and personal care ingredients. In 2015, a Germany-based company Symrise acquired the pine-derived food ingredient and fragrance manufacturer Pinova for approximately $390 million. Prior to this collaboration, Pinova itself consisted of an acquisition of a pine-based fragrance and flavor company called LyondellBasell Industries.