Title: Pine Derived Chemicals Market - Forecast(2023 - 2028)
1Pine Derived Chemicals MarketMarket size,
Industry outlook, Market Forecast, Demand
Analysis, Market Share, Market Report 2021-2026
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- Pine-derived chemicals market size is forecast to
reach US56.7 billion by 2027, after growing at a
CAGR of 5.2 during 2022-2027. Globally, pine is
becoming more popular as a source of pine-derived
chemicals to address the requirements of the
chemical, food and beverage, and pharmaceutical
industries. The increasing demand for bio refined
products and bioliquids for renewable energy is
estimated to be big growth potential for the
pine-derived chemicals market. Crude tall oil,
tall oil fatty acid, sterols, and gum turpentine
are the most widely used pine-derived compounds
in the marketplace. Additionally, a significant
trend strengthening the prospects of the pine
derived chemicals market is the increased demand
for these in perfumes and flavoring compounds.
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- Key Takeaways
- The North America region dominated the pine
derived chemicals market due to the rising growth
and investments in the construction
activities. For instance, according to the India
Brand Equity Foundation, between 2019 and 2023,
India estimates to invest US1.4 trillion in
infrastructure projects. - The increased crude tall oil (CTO) production due
to the rising growth of the current and future
softwood kraft pulp capacity expansions are
expected to be the primary driving forces behind
the growth of the pine derived chemicals market.
For instance, as per the American Chemistry
Council, Inc., CTO availability will rise from
1.85 million tonnes per year in 2019 to 2.26
million tonnes per year in 2030. -
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By Distribution Channel- Segment Analysis Tall
oil held the largest share in the pine derived
chemicals market in 2021 and is expected to
continue their dominance over the period
2022-2027. Increasing demand for bio based
products has driven the need for tall oil in
various applications such as adhesives, rubbers,
printing inks, paints coatings, and various
others. Crude tall oil, tall oil fatty acid,
sterols, and are the most common tall oils used.
The increasing use of crude tall oil since it is
a multi-purpose material that extends the life of
wood-based raw materials has driven its demand in
the industry. It is a non-food competitive
feedstock that is not based on land.
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- Pine Derived Chemicals Market
Outlook - Renessenz LLC
- Eastman Chemical Company
- Harima Chemicals Group, Inc.
- Ingevity Corporation
- Arakawa Chemical Industries, Ltd.
- Arizona Chemical Company, LLC.
- Georgia-Pacific Chemicals LLC.
- Mentha Allied Products Pvt. Ltd.
- DL Chemical Co., Ltd.
- Foreverest Resources Ltd.
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Pine Derived Chemicals Market
Forecast (2023 - 2028) Learn More About the
Report _at_ https//www.industryarc.com/Research/P
ine-Derived-Chemicals-Market-Research-510857
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