Selbyville, Delaware , Sept. 11, 2023 (GLOBE NEWSWIRE) --
Gum rosin market size is predicted to reach around USD 2.5 billion by 2032, as per a recent study by Global Market Insights Inc.
With increasing industrialization and urbanization across the globe, the usages of adhesives, coatings, and other applications has surged, fueling the demand for gum rosin as a crucial raw material. Furthermore, the renewable and biodegradable nature of gum rosin aligns with the growing consumer preference for eco-friendly products. With extensive acceptance of green alternatives, the gum rosin industry is poised for sustained growth.
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Adoption of spruce trees sourced product to fuel market expansion
The gum rosin market from spruce trees segment is expected to witness substantial growth from 2023 to 2032. One of the key sources for gum rosin production is spruce trees, a sustainable and renewable resource. The product not only addresses the growing need for environmentally friendly materials but also supports responsible forest management practices. The extraction process from spruce trees ensures minimal impact on the trees themselves, ensuring sustainable sourcing. The increasing focus on preservation of biodiversity and ecosystems is favoring the popularity of spruce tree gum rosin.
Wider usage of printing inks for packagings to influence gum rosin market growth
The application of gum rosin in printing inks has emerged as a significant growth avenue within the market and will grow through 2032. The inherent properties of gum rosin, such as its excellent adhesion, color stability, and solubility in various solvents, make it a preferred ingredient in the formulation of high-quality printing inks. As the demand for packaged goods, labels, and various forms of printed materials continues to rise, there will be increase in utilization of gum rosin for producing printing inks. From packaging to publications, gum rosin-infused inks are catering to diverse requirements, contributing to the industry's upward trajectory.
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Stringent regulations in Europe to drive industry expansion
Europe gum rosin market size is predicted to expand at a robust pace from 2023 to 2032. Stringent regulations promoting the use of environmentally friendly materials have encouraged manufacturers to explore gum rosin as a viable alternative in various applications. The region's well-established industrial infrastructure and emphasis on sustainable practices have facilitated the integration of gum rosin into various supply chains. Moreover, the growing consumer awareness and demand for eco-conscious products have spurred manufacturers to incorporate gum rosin into their offerings, thus fueling the market growth in Europe.
Some of the leading companies in the global gum rosin market are Wuzhou Sun Shine Forestry & Chemicals Co., Derives Résiniques et Terpéniques (DRT), Resinall Corp., Pinova Holdings, Kraton Corporation, and Arakawa Chemical Industries. As the market continues to evolve, these companies are set to capitalize on these opportunities and shape a more sustainable and innovative future.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
