Also known as colophony, rosin is a solid form of resin extracted from pines and conifers. There are basically three types of rosin – gum rosin, wood rosin, and tall oil resin – all of which are subjected to different chemical processes to obtain rosin derivatives. So, rosin is basically a natural resource and rosin-based products or rosin derivatives have found various applications such as in road making, paper sizing, and in the production of adhesives, sealing wax, and coatings & inks.
Gum rosin is mainly used in adhesives, chewing gums, printing inks, and road making products, while tall oil rosin is being used in adhesives, varnishes, enamels, and water proofing applications. Rosin resin, on the other hand, is used for the formulation of nano capsules and nanoparticles.
Owing to the growing use of rosin in various industries, the global Rosin Market has recorded robust growth over the past few years. The market is expected to maintain its steady growth in the coming years as well due to the increasing demand for rosin from various end-use applications. Increasing demand for rosins in the pharmaceutical industry will play an important role in driving the global Rosin Market.
Rosin is also used for producing turpentine oil and the demand for turpentine oil from the furniture industry has been increasing over the years. This too will propel the growth of the Rosin Market. Apart from these, increasing demand for rosin for adhesive applications and the growing rubber industry will positively impact the Rosin Market. The growth of the packaging industry will also increase the demand for adhesives, which in turn, will increase the demand for rosin.
Further, rosin is known for its high adhesion property and additionally, it is a bio-based material. Bio-based materials are eco-friendly and due to the growing awareness about environmental protection, the use of bio-based materials is expected to rise in the future. This will also affect the global Rosin Market positively. However, increasing prices of rosin and the availability of rosin substitutes may limit the growth of the global market to some extent.
Presently, the global Rosin Market is dominated by the Asia-Pacific region. China is a major source of rosin globally and is the leading producer of gum rosin. The Rosin Market in Europe and North America is also expected to display significant growth in the coming years. The Middle East & Africa and Latin America regions are also expected to maintain healthy growth.
The prominent players operating in the global Rosin Market are Resin Chemicals Co., Ltd., Forestar Chemical Co., Ltd., Indonesia Pinus, Eastman Chemical Company, Georgia-Pacific Chemicals LLC, Jiangsu Hualin Chemical Co., Kraton Corporation, and Jinggu Forestry Chemical Co.