Colophony Market: Introduction
Colophony is obtained from the resin secreted by the pine tree. It is also known by other names such as gum rosin and Green Pitch. Colophony is a resin which consists of about 70% resin and 30% oil. Colophony is collected from the naturally growing pine trees and by nature, it has volatile and chemically reactive properties when dissolved in organic solvents. Colophony has a panoply of applications for industrial purposes such as in paints, inks, rubber industry, explosives, soaps, adhesives, and as a glazing or coating agent in pharmaceuticals and chewing gums. Its major function is to provide adhesive and binding properties in the products in which it is used. Hence, the adhesive end-use industry occupies a dominant share in the colophony market. Production of colophony is dispersed around the globe which includes regions like Russia, China Brazil, etc.
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Colophony Market: Dynamics
Nowadays the hybrid variant of pine trees has is becoming increasingly common in the colophony supply chain. This is merely due to the fact that the hybrid variant yield more sap as compared to the naturally growing variety. A significant amount of research is being carried out to enhance the flow of colophony sap from the pine trees. This objective is achieved by bringing about genetic changes in the pine trees.
These methods are also more sustainable for the colophony processors, as the mature pine trees that need to be replanted every 10 years can now be replanted 20 years. This method of plantation is also very profitable to the colophony processors to meet the growing demands of colophony in the market.
These initiatives are further supported by governing bodies such as Pine Chemicals Association (PCA), which is initiating educational campaigns, to encourage the key participants in the colophony supply chain to embrace new methods of collecting and processing colophony.
On the other hand, many popular food franchises have raised concerns over the use of food additives such as glycerides, fat substitutes, glycerol ester of colophony, etc. in their food. These initiatives are backed by the increasing consumer demand for clean label food products and may hinder the growth of the colophony market in the food & beverage segment.
Colophony Market: Segmentation
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Colophony Market: Regional Outlook
Expansion in the packaging sector will help the growth of the colophony market as the demand for sustainable and bio-based material is projected to grow over the forecast period. Hence, key manufacturers in the colophony market have the opportunity to turn their focus on building a stronger presence in the bio-based packaging industry.
Colophony Market: Key Players
Examples of some of the market participants in the global Colophony market identified across the value chain include include Punjab Rosin And Chemicals Works, Foshan Baolin Chemical Industry Co. Ltd.,Merck KGaA, Iberian Resins, Kantilal Brothers, Shree Resins and Midhills amongst others.
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