Gum Rosin Market: An Insight Of The Aggressively Changing Industry Dynamics
Gum Rosin Market size is predicted to witness significant growth owing to growing demand from major application segments including printing inks and synthetic rubber. It is a major component in synthetic & rubber based adhesives, as it enhances softness, strength, and adhesion of adhesives, which are used in manufacturing of rubber boots and furniture, bookbinding, and packing industry. Rosin is widely used in printing ink industry in manufacturing ink as a color carrier along with increasing its hold on paper and reducing blurriness of presswork which should stimulate market growth.
Gum rosin, also known as colophony, is a compact resin form from pines & other plants such as conifers, manufactured by warming liquid resin to evaporate volatile liquid components. It consists of residue obtained by distillation of oleoresin from pine trees wood rosin, usually of a darker color. Rosin is semi-transparent and its color varies from yellow to black. It is brittle at normal temperature and melts at higher temperatures. At high temperatures, it becomes sticky and has pine like odor.
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Gum rosin is used for a number of purposes such as for manufacturing adhesives, printing inks, paper sizing agents, solders and fluxes, insulating materials for electronics industry, various surface coatings, chewing gums, synthetic rubber, soaps & detergents. It’s major uses are making soaps, varnishes, printing inks, sealing wax, sizes for paper, driers, binders, adhesives, gloss paint oils, soldering fluxes, and pitch. The demand of resins from dance studios and theaters is increasing as it is used on dancer’s shoes, and floors to prevent skidding, which is further fueling product demand.
Rising product demand from potters particularly during pot extraction from blazing hot kilns will drive Gum Rosin Market size. Growing number of steel plants globally will create positive outlook for product demand owing to resilient resistance against extreme temperatures and corrosion. Increasing need for abrasion resistance material during several operations including grinding, drilling and welding has enhanced product scope. Necessity for safety gears during handling of high temperature equipment accompanied by abundance raw material availability will support industry demand. Increasing product adoption in food processing industry due to its high temperature resistance property will drive Gum Rosin Market size.
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Asia Pacific, led by India, Japan, and China gum rosin market demand is anticipated to witness fast growth owing to high demand from end use industries such as construction, steel and electric equipment industry. It is used as insulating material in electronic equipment and as a metallic polishing agent and soldering aid. China market volume is likely to increase on account of developing adhesives, paper sizing, synthetic rubber, and printing inks. China printing ink consists of around 7% rosin content with a market size of USD 160 billion in 2018 and is likely to grow by the forecasted timeframe owing to increasing demand from construction industry, which is predicted to boost gum rosin market share.
Europe gum rosin market size, led by France, Italy, UK, and Germany is likely to witness substantial increase by 2025 on account of rising demand from food and soap industries. Gum rosin, on account of its chemical property and low price is used in manufacturing soap as a replacement of aliphatic acid. It is widely used in food industry, to make chewing gum and other confectionaries, it is evolving as one of the most emergent ingredients in confectionary.
European confectionery market worth is predicted to surpass USD 80 billion by 2025 among which chewing gum holds a major share owing to dental benefits. Gum rosin is renewable and is easily degradable in the environment, which is likely to boost its market size on account of increasing concerns for healthy eating habits coupled with growing preference for bio based material market.
North America, led by Mexico, Canada, and U.S. gum rosin market is likely to witness significant growth on account of growing demand from pharmaceutical and packaging industry. Gum rosin exhibits a wide range of applications in pharmaceutical industry owing to its excellent coating and film forming properties. It is used in enteric coating and tablet coating purpose. Regional pharmaceutical market size has a huge potential and is likely to surpass USD 25 billion by 2022 owing to increasing investments made by government to control mortality rate due to lack of medical assistance and provide the best medical services, which is predicted to stimulate product demand by the forecasted timeframe.
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North America, led by Mexico, Canada, and U.S. gum rosin market is likely to witness significant growth on account of growing demand from pharmaceutical and packaging industry. Gum rosin exhibits a wide range of applications in pharmaceutical industry owing to its excellent coating and film forming properties. It is used in enteric coating and tablet coating purpose. Regional pharmaceutical market size has a huge potential and is likely to surpass USD 25 billion by 2022 owing to increasing investments made by government to control mortality rate due to lack of medical assistance and provide the best medical services, which is predicted to stimulate product demand by the forecasted timeframe.
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