Dammar Gum Market Is Witnessing High Growth Owing to the Increasing Usage of Searches in the World

The Global Dammar Gum Market Is Expected To Witness High Growth Owing To the Increasing Usage of This Gum in Dye and Paint Manufacturing Industries

Dammar Gum Market, by End-use (Food and Beverages, Varnish, and Others) – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2025.

Market Overview:

Dammar Gum is extensively used in the manufacture of top-quality dyes and painting supplies. Its natural wax-like appearance and inherent oil-like qualities make it an ideal raw material for the production of fine art and scientific laboratory supplies. Its water-binding and repelling properties allow Dammar Gum to be effectively used as a pigment coating agent in chemical laboratories. Dammar Gum is used for the manufacture of dyes that are sensitive to heat. The manufacturing of pigments for this purpose dates long back when it was discovered that the application of fatty acids to the surface of a cotton stamper imparts heat sensitivity to the pigments. Over some time, this led to the production of pigments that respond to temperature changes. The pigment in question is Dammar Gold, which is resistant to heat, responds to it, and thus has a high luster value. Pigments such as Dammar Gold are generally used in conjunction with other types of oil colors (typically a lighter or darker shade of either vegetable or animal fat) to produce consistent and vivid colors.

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Competitive Landscape:

Major players operating in the global dammar gum market include P.T. Samiraschem Indonesia, William Bernstein Company, Starlight, Nexira Inc., Bandish Enterprises, and Sennelier.

Key Market Drivers:

The increasing prevalence of the paint and dye industries is the main factor that is expected to boost the growth of the global dammar gum market. For instance, according to Asian Paints reports, it was the leading company in the year 2020 and has a market share of 39%. Moreover, increasing product launches by key market players along with several other uses of dammar gum are expected to create propulsion in the global dammar gum market.

Covid-19 Impact Analysis:

During the peak of COVID-19, several paint industries and factories ceased options. For instance, according to Coatings World, the ongoing pandemic made it very challenging for coatings and paint producers, owing to the increasing incidence of COVID-positive cases. By 22nd July 2020, India experienced more than 1.24 million cases. The uncertainty of the situation led to shuttering down of several producing and manufacturing industries.

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Key Takeaways:

·         The Asia Pacific is expected to hold a major share of the global dammar gum market, owing to the increasing prevalence of paint factories in the region. For instance, according to Berger Paints India Ltd, in 2019 the countrywide distribution of the company was more than 25,000. Moreover, increasing product launches by key market players are expected to boost the growth of the market.

·         North America is estimated to experience high growth in the global dammar gum market, owing to the increasing incidence of the paint industry in the region. For instance, according to American Coatings Association, in 2019 the US coatings and paint market size were around US$ 24.2 billion.

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