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.
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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.
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.
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“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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