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Gum Rosin Market Size Forecast to Reach $1,437.43 Million by 2025
Speedy Growth of Synthetic Rubber and Adhesives Industries is Expected to Act as a Major Factor Driving the Global Gum Rosin Market During the Forecast Period.


Gum Rosin Market
BriefingWire.com, 8/10/2020 - Gum Rosin Market size is forecast to reach $1,437.43 million by 2025, after growing at a CAGR of 3.50% during 2020-2025. Major factors driving gum rosin demand include increasing demand from key application industries such as adhesives and rubber, growth in the construction project, and increasing automotive production. Factors such as economic growth, industrial growth, rising consumer disposable incomes, and standards of living have levied high pressure on the automotive and building & construction industries for higher output and better-quality products.

Key Takeaways

Asia-Pacific dominates the global Gum Rosin market, owing to increasing construction activities in the region and growing focus by the government and end-use industries to curb carbon footprints and develop environment friendly products.

Speedy growth of synthetic rubber and adhesives industries is expected to act as a major factor driving the global gum rosin market during the forecast period.

However, volatility of gum rosin and fluctuation in prices of raw materials are restricting gum rosin market.

However, operations in various industries such as paints and coating, automotive, construction and so on is being significantly affected due to the COVID-19 epidemic, as most of countries have issued “stay at home guidance” i.e., lockdown. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021. This is limiting Gum Rosin market growth.

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Geography - Segment Analysis

Asia Pacific held the largest share in the Gum Rosin market in 2019, up to 57%, owning to growth in construction projects and rising automotive production in the region. In 2019, China government invested 1.9 billion on 13 public housing projects. In addition, in February 2020, the Asian Development Bank approved a loan of $631 million to develop the Vishakhapatnam-Chennai industrial corridor. Furthermore, construction projects such as ‘100 smart cities’ and ‘Housing for All by 2022’ in India are influencing Gum Rosin market growth. In addition, according to OICA, automotive production in countries such as India, Indonesia, and Malaysia have increased by 8%, 10.3% and 12.2% up to 5,174,645, 1,343,714 and 402,085 from 2017.

Drivers – Gum Rosin Market

Increasing demand from key application industries

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Gum Rosin Market. Major players in the Gum Rosin market are Gum Chemical Solutions, S.A., Jinggu Forestry Chemical, Sharda Industries, Punjab Rosin & Chemicals Works, Guangdong Komo Co., Ltd, Resin Chemicals Co., Ltd, and Manish Minerals & Chemicals, among others.

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