According to HTF Market Intelligence, the Global Rosin Acids Market market to witness a CAGR of 4% during forecast period of 2023-2028. Global Rosin Acids Market Breakdown by Application (Fermentation Industry, Soap, Paper Industry, Other) by Type (Purity 75%, Purity 85%, Purity 95%, Other) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Rosin Acids Market market size is estimated to increase by USD xx Billion at a CAGR of 4% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 498 Billion.
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Rosin acids, also known as rosin resins or gum rosin, are natural compounds obtained from the resinous sap of pine trees.
Rosin Acids Market market – Key Segment Analysis
The market share growth by the Purity 75% segment will be significant during the forecast period. The segment is driven by the Growing awareness and implementation of stringent environmental regulations, favoring the use of rosin acids as a sustainable alternative to synthetic resins..
Rosin Acids Market market – Competition Analysis
The global Rosin Acids Market market is seeing several joint ventures to intensify the capability of manufacturers and/or companies to establish geographic footprints to new territory. The vendors are accelerating M&A strategies to expand their geographical reach, which is shaping the market toward new growth cycle. The list of players that are profiled in the study are Georgia-Pacific Chemicals LLC (United Kingdom), Resinall Europe B.V. (Netherlands), Pinova Holdings, Inc. (Germany), Eastman Chemical Company (United Kingdom), BASF SE (Germany), Les Derives Resiniques et Terpeniques (France), Forchem Oy (Finland), Kraton Corporation (United States), Wuzhou Sun Shine Forestry & Chemicals Co., Ltd. (United States), Eastman Chemical Company (United States).
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Rosin Acids Market
Market Drivers
- Growing awareness and implementation of stringent environmental regulations, favoring the use of rosin acids as a sustainable alternative to synthetic resins.
Market Trend
- Increasing demand for sustainable and eco-friendly products is driving the growth of the rosin acids market.
Market Opportunities
- Emerging applications of rosin acids in the electronics and electrical industry for circuit boards, soldering, and coatings.
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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