Research Reports
Pine-derived Chemicals Market to reach a revenue of USD 8.4 Bn by 2032
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The pine-derived chemicals market is set to grow to $8.4 Bn by 2032, driven by eco-friendly trends and reduced carbon emissions.
Newly released data from pine-derived chemical market analysis by Future Market Insights shows that global consumption of pine-derived chemicals enjoyed a year-on-year (YOY) growth of 3.8% in 2021 to total global sales of USD 5.5 Bn. The global pine-derived chemicals market will expand at a CAGR of 4.4% over 2022-2032 to reach a revenue of USD 8.4 Bn.
According to the report, growing opportunities in the packaging ink sector along with the adoption of environmentally friendly inks will drive the size of the market for ink printing.
While the world’s companies nowadays shift towards the use of emission-free, environmentally friendly materials in their processes, growth in this market is sure. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
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Chemicals from pine trees occur naturally and are thus environmentally friendly. Their use leads to lower emissions of carbon dioxide as opposed to those from conventional sources. The widespread use of crude oil and natural gas products in the recent past has contributed to increased emissions and environmental issues. Consequently, there is a growing need to reduce fossil fuel consumption to minimize carbon footprints and carbon dioxide emissions. The pine-derived chemicals industry has continuously adapted itself over centuries and is today at the forefront of renewable bio-based industries.
Thus, over the forecast period, demand for these eco-friendly pine-derived chemicals is expected to witness steady growth. Pine trees, the source of these pine-derived chemicals, do not occur widely throughout the globe but are concentrated in regions of North America, Latin America, and some European & Asian nations, the restricted availability is expected to present a challenge to the growth of the global chemical pine derived market over the period.
“Increasing environmental concern due to increasing carbon emissions from products derived from petroleum oil and natural gas has contributed to a substantial rise in demand for chemicals derived from environmentally friendly pine oil. Increasing use of these goods leads to decreased carbon dioxide emissions and carbon footprints,” said a lead analyst at FMI.
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It includes in-depth insights into the pine-derived chemicals market. Some of these are:
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Competitive Landscape
Key players operating in the market are Eastman Chemical Company, Harima Chemicals Group, Inc., Arakawa Chemical Industries, Ltd., Kraton Corporation, and Forchem Oyj. Strong government rules and regulations along with price competition between different manufacturers of pine derived chemicals are restricting the market.
Limited supply of trees may threaten the competitiveness of the industry and may impact the market price trend for pine related chemicals. Additionally, mergers and acquisitions continue to be a popular strategy among market players.
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The article discusses the growth of the pine-derived chemicals market, projected to reach $8.4 Bn by 2032.
What factors are driving the market growth? Eco-friendly trends and reduced carbon emissions are key drivers.
Which region dominates the market? North America leads due to extensive pine tree plantations.
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