Gum Rosin Market Size, Latest Innovations, and Drivers Analysis Report by 2024 “The Gum Rosin Market is estimated to grow at a significant CAGR of 3.3% over the forecast period as the scope and its applications are rising enormously across the globe.”
Global Gum Rosin Market is expected to reach USD 2.49 billion by 2024. Gum rosin is a natural solid form of pine oleoresin obtained from the pine trees. It is also known as “colophony” due to its range of colors from yellow to black. It is a raw material used in industries. It is exclusively used as coating material for release of control fertilizer. It is an organic compound of resin acid, monoterpene, and turpentine. The Gum Rosin Market is estimated to grow at a significant CAGR of 3.3% over the forecast period as the scope and its applications are rising enormously across the globe. Growing demand from end users like printing inks and synthetic rubber, vast growth of adhesive and synthetic rubber industries, high demand for high-grade gum rosin products, and availability of low cost labor are documented as the major factors that are estimated to enhance the growth in the years to come. However, unfavorable weather conditions may restrain the overall market growth in the years to come. Gum Rosin Market is segmented based on product type, application, and region. K, WW, M, WG, XN, and the other product types could be explored in Gum Rosin in the forecast period. WW gum rosin sector accounted for the substantial market share of Gum Rosin and is estimated to lead the overall market in the upcoming period. In terms of revenue, the sector is estimated to grow at a significant CAGR in future. The market may be categorized based on application like synthetic rubber industry, foodstuff industry, metal processing industry, papermaking industry, paints and coating industry, construction materials industry, printing ink industry, bactericide industry, and others.
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