Market Synopsis
According to the MRFR analysis, the Global Gum Rosin Market was valued at USD 2.42 billion in 2020 is expected to register a CAGR of 4.16% during the forecast period.
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Gum rosin is obtained from coniferous plant species and widely used as an alternative for synthetic petroleum resin. Due to the high adhesion property, it is used as a prime ingredient to produce a wide range of adhesives including hot melt, pressure-sensitive, and solvent adhesives. This is likely to boost the global market growth. Additionally, various gum rosin applications include paints, sealant wax, printing inks and labels, which is further expected to drive the global market growth. However, the presence of readily available petroleum resin substitutes is likely to pose a limitation to the growth of the gum rosin market during the forecast period.
Pricing and Standards
The price of gum rosin is expected to showcase a hike in during the forecast period. In 2020, the product was priced around USD 1900–2200 per ton across the globe.
Some of the standards for testing rosin are:
American Society for Testing and Materials: ASTM D509-70 for “Standard Methods of Sampling and Grading Rosin”
American Society for Testing and Materials: ASTM D465-82 for “Standard Test of Methods for Acid Number of Rosin”
Indian Standard: IS 553: 1984 for “Specification for Rosin (Gum Rosin)”
SEGMENTATION
By Grade
WW: The segment accounted for the largest gum rosin market share in 2020 and is expected to be the fastest-growing segment during the forecast period. The WW rosin is light yellow color rosin and is mainly used to produce rubber adhesives and hot melt adhesives. Additionally, this rosin is also used as a glazing agent in medicines and chewing gums.
WG: WG gum rosin is deep yellow in color with a softening point of 75 degree Celsius. This gum rosin grade can be used in various cosmetic applications including hair removal creams, soaps, and lip balms.
K: Primarily used in chemical compounds mainly paints and printing inks.
X: X grade gum rosin is used in bookbinding, tapes and labels and other contact adhesives.
Others: The other segment includes N and M grades.
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By End-Use Industry
Adhesives & Sealants: The largest segment in 2020 owing to the high demand for gum rosin and derivatives mainly triethylene glycol esters of rosin in adhesives and sealant waxes. The gum rosins enhance the tackiness and strength of the adhesive, thus augmenting the demand for gum rosin in the adhesives & sealants industry. The segment is expected to showcase robust growth in the coming years owing to increasing product usage in the wide variety of adhesives, namely solvent adhesives, water-based adhesives, hot melt adhesives, pressure sensitive adhesives, and floor coating adhesives, which are then used in tapes, labels, and bookbinding applications.
Rubber: The growth of the rubber segment is due to the increasing use of gum rosin as a filler to make the rubber easy for kneading and improve its softness. Additionally, gum rosin when blended with natural rubber improves the cohesion and enhances the endurance to both heat and abrasion by 25%.
Paints & Coatings: The growth of the segment is attributed to the increasing demand for thermoplastic rosin in the production of water-based paints and primer coatings to provide better adhesion and high corrosion resistance. On an average, the gum rosin consumption rate in paint production is 8–10%. Additionally, gum rosin is also used in the production of road paints which are applied as road surface markings on safety zone, boundary, and crosswalk.
Printing Inks: Gum rosin is mainly used in printing inks to ensure proper adhesion of the letters and printed images on the surface.
Food & Beverage: Hydrogenated rosins along with natural chicle, flavor, sugar, and pigment is used in chewing gum formulations. In addition, rosin is also used as an emulsifier in soft drinks.
Others: The segment includes construction, packaging, pharmaceutical, and personal care & cosmetics industries.
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By Region
Asia-Pacific: It accounted for the largest share in 2020 and is projected to be the fastest-growing regional market owing to the rapidly growing industrialization in the region. China is the leading country-level market on account of the growing demand for gum rosin in industrial applications such as paints, electric cables, and inks.
North America: The increasing demand for gum rosin for multifarious applications including adhesives and as a concrete frothing agent in rising constructional activities is expected to fuel the growth of the regional market.
Europe: The market is expected to witness significant growth during the forecast period owing to the radical consumer shift towards renewable and eco-friendly products.
Latin America: The regional market is witnessing sluggish growth; however, the rising industrialization is expected to fuel the demand for gum rosin during the review period.
Middle East & Africa: The increasing constructional & infrastructural activities on account of the growing tourism is majorly contributing to the regional market growth.
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