Terpene Resin Market
Terpene Resin Market Study by Alpha-Pinene, Beta-Pinene, D-Limonene, and Dipentene for Adhesives & Sealants, Inks & Coatings, Rubber & Tires, Chewing Gum, Pharmaceuticals, and Others From 2024 to 2034
Analysis of Terpene Resin Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Terpene Resin Market Outlook (2024 to 2034)
According to a new industry report released by Fact.MR, a market research and competitive intelligence provider, the turnover of the global terpene resin market is analyzed at US$ 1.13 billion in 2024 and has been forecasted to expand at 7.4% CAGR to reach a value of US$ 2.3 billion by 2034-end.
Terpene resins are extremely important for pressure-sensitive adhesives (PSAs) which are used in packaging, tapes, labels, and others. These adhesive applications are becoming increasingly necessary due to the expansion of e-commerce and the demand for consumer goods packaging, which is driving up demand for terpene resins. Terpene resins fit in perfectly with the trend toward eco-friendly and sustainable materials because they are naturally produced from renewable resources, such as citrus peels and pine trees.
These resins are widely preferred by manufacturers over petroleum-based ones to lower the impact on the environment. Terpene resins help in enhancing tack and adhesion and these two qualities are crucial to high-performance tires in rubber and tire manufacturing. Particularly for tire production and retreading applications, terpene resins are becoming important due to the rising automotive sector and the need for more durable and effective tires.
The market in East Asia is forecasted to expand at a remarkable CAGR of 9.5% throughout the assessment period (2024 to 2034) as this region is one of the prominent manufacturing hubs and because of this need for coating, rubber, adhesives, and products are continuously increasing in demand. The demand for terpene resins is primarily growing in the packaging, automotive, and construction sectors in East Asia.
Based on type, the beta-pinene resin segment is analyzed to hold 26.5% of the revenue share in 2024. Beta-pinene resin is increasing in demand because of its several uses and it is a natural source. Beta-pinene resin, which comes from pine trees, is widely preferred in the adhesive, ink, and coatings industries due to its superior tackifying qualities, which improve durability and stickiness.
| Report Attributes | Details |
|---|---|
| Terpene Resin Market Size (2024E) | US$ 1.13 Billion |
| Forecasted Market Value (2034F) | US$ 2.3 Billion |
| Global Market Growth Rate (2024 to 2034) | 7.4% CAGR |
| East Asia Market Share (2024E) | 25.9% |
| North America Market Value (2024E) | US$ 339.08 Million |
| South Asia & Pacific Market Growth Rate (2024 to 2034) | 10.8% CAGR |
| Beta-Pinene Resins Segment Value (2034F) | US$ 638.17 Billion |
| Solid Segment Value (2034F) | US$ 894.43 Billion |
| Key Companies Profiled | BOC Sciences; Eastman Chemical Company; Foshan Baolin Chemical Industry Co., Ltd.; Grenhall Industries Inc.; Kraton Corporation; Lesco Chemical Limited; Mangalam Organics Limited; Skyrun Industrial; Xinyi Sonyuan Chemical Co., Ltd.; Yasuhara Chemical Co., Ltd |
Terpene is an organic compound derived from several plants and some insects. Terpene is the primary constituent of essential oils extracted from several medicinal plants. Terpene resin is a solid, light-colored compound, which is soluble in different solvents. Terpene resin has wide applications in different end-use industries, such as the food industry, adhesive industry, and others is likely to create ample growth opportunities for the market.
The manufacturers are also inclined to increase production and supply of the terpene resin to gain more profit across the globe. The global terpene resin market is expected to grow with a single-digit CAGR over the forecast period due to the growth in the production and demand for terpene resin across the globe.
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The Terpene Resin Market is Growing with Surging Demand from the Adhesive Industry
The terpene resin has widespread applications in rubber and adhesive industries as tackifiers and for polymer processing. The rising demand for terpene resin in the pulp and paper industry and ink and coating industry is anticipated to drive the growth of the global terpene resin market over the forecast period.
The characteristics of terpene resin including non-toxicity, effectiveness, and chemical inactivity, which are utilized in the food and pharmaceutical industry, are the growth factors for the terpene resin market across the globe. The availability of terpene resin is limited considering the production, which raises the pricing to a high range.
The high price and subsequent demand for terpene resin are expected to hamper the growth of the global terpene resin market. The macroeconomic factors strengthen trade investment and relationships between different countries across the globe, which is likely to boost the global terpene resin market. The aforementioned factors related to the demand and production of terpene resin are anticipated to promote the growth of the global terpene resin market over the forecast period (2018-28).
Rising Demand for Terpene Resin in different End-Use Industries Projected to Boost the Market Growth
The terpene resin market is segmented based on product type as solid and liquid. The terpene resin market is also divided based on resin type as technical grade terpene resin and industrial grade terpene resin.
The terpene resin market is segmented based on end-use industries, such as the rubber industry, adhesive and sealant industry, ink and coating industry, food industry, pharmaceutical industry, pulp, and paper industry, and other end-user industries. The growth of the adhesive industry and subsequent demand for terpene resin as a solid solvent for rubber and laminating adhesives is projected to boost the growth of the global terpene resin market in the forecast period.
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The Global Terpene Resin Market Dominated by APEJ Going Forward
The global terpene resin market is segmented based on geography as Western Europe, North America, Asia, and the Pacific excluding Japan (APEJ), Latin America, Eastern Europe, Japan, and the Middle East and Africa (MEA). The regional segments also include potentially high growth countries, such as China, India, and Australia in the terpene resin market.
Among the segmented regions, sales and demand for terpene resin in APEJ are expected to hold a significant share of the global market. The North American terpene resin market is growing due to the substantial growth in the cosmetic & personal care industry in the region. Moreover, the substantial growth of the food industry in potentially high growth regions, such as Asia Pacific excluding Japan (APEJ) and Latin America is expected to contribute to the growth of the global terpene resin market in the forecast period.
Widespread Application of Terpene Resin Creates Ample of Opportunity for Manufacturers to Expand Business
Some of the key players in the terpene resin industry are BOC Sciences, Eastman Chemical Company, Foshan Baolin Chemical Industry Co., Ltd, Grenhall Industries Inc., Kraton Corporation, Lesco Chemical Limited, Mangalam Organics Limited, Skyrun Industrial, Xinyi Sonyuan Chemical Co., Ltd., Yasuhara Chemical Co., Ltd. and others across the globe. The prominent players are concentrating on the extension of their production abilities and vertical integration for business development. The marketing strategy by manufacturers is expected to contribute to the growth of the terpene resin market in the forecast period, 2018 to 2028.
The research report presents a comprehensive assessment of the terpene resin market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The terpene resin market research report provides analysis and information according to market segments such as geographies, applications, and industries.
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The Terpene resin market report covers an exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Segmentation of Terpene Resin Market Research
-
By Type:
- Alpha-Pinene
- Beta-Pinene
- D-Limonene
- Dipentene
- Others (e.g., Terpene Phenolic)
-
By Form:
- Solid
- Liquid
- Powder
-
By Application:
- Adhesives & Sealants
- Inks & Coatings
- Rubber & Tires
- Chewing Gum
- Cosmetics & Personal Care
- Pharmaceuticals
- Others (e.g., Fragrances)
-
By End-Use Industry:
- Automotive
- Construction
- Packaging
- Consumer Goods
- Industrial Manufacturing
-
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Type
- 6.2. Application
- 6.3. Form
- 6.4. End-User Industry
- 7. Global Market Analysis and Forecast, By Type
- 7.1. Alpha-Pinene Resin
- 7.2. Beta-Pinene Resin
- 7.3. D-Limonene Resin
- 7.4. Dipentene Resin
- 7.5. Others (e.g., Terpene Phenolic Resin)
- 8. Global Market Analysis and Forecast, By Application
- 8.1. Adhesives & Sealants
- 8.2. Inks & Coatings
- 8.3. Rubber & Tires
- 8.4. Chewing Gum
- 8.5. Cosmetics & Personal Care
- 8.6. Pharmaceuticals
- 8.7. Others (e.g., Fragrances)
- 9. Global Market Analysis and Forecast, By Form
- 9.1. Solid
- 9.2. Liquid
- 9.3. Powder
- 10. Global Market Analysis and Forecast, By End-User Industry
- 10.1. Automotive
- 10.2. Construction
- 10.3. Packaging
- 10.4. Consumer Goods
- 10.5. Industrial Manufacturing
- 11. Global Market Analysis and Forecast, By Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Western Europe
- 11.4. Eastern Europe
- 11.5. Asia Pacific
- 11.6. East Asia
- 11.7. MEA
- 12. North America Sales Analysis and Forecast, by Key Segments and Countries
- 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 14. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 15. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 16. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 17. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 18. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 19. Sales Forecast by Type, Application, Form, and End-User Industry for 30 Countries
- 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 21. Company Profile
- 21.1. BOC Sciences
- 21.2. Eastman Chemical Company
- 21.3. Foshan Baolin Chemical Industry Co., Ltd
- 21.4. Grenhall Industries Inc.
- 21.5. Kraton Corporation
- 21.6. Lesco Chemical Limited
- 21.7. Mangalam Organics Limited
- 21.8. Skyrun Industrial
- 21.9. Xinyi Sonyuan Chemical Co., Ltd.
- 21.10. Yasuhara Chemical Co., Ltd.
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Type
Table 3: Global Market US$ Mn Forecast by Application
Table 4: Global Market US$ Mn Forecast by Form
Table 5: Global Market US$ Mn Forecast by End-User Industry
Table 6: North America Market US$ Mn Forecast by Country
Table 7: North America Market US$ Mn Forecast by Type
Table 8: North America Market US$ Mn Forecast by Application
Table 9: North America Market US$ Mn Forecast by Form
Table 10: North America Market US$ Mn Forecast by End-User Industry
Table 11: Latin America Market US$ Mn Forecast by Country
Table 12: Latin America Market US$ Mn Forecast by Type
Table 13: Latin America Market US$ Mn Forecast by Application
Table 14: Latin America Market US$ Mn Forecast by Form
Table 15: Latin America Market US$ Mn Forecast by End-User Industry
Table 16: Western Europe Market US$ Mn Forecast by Country
Table 17: Western Europe Market US$ Mn Forecast by Type
Table 18: Western Europe Market US$ Mn Forecast by Application
Table 19: Western Europe Market US$ Mn Forecast by Form
Table 20: Western Europe Market US$ Mn Forecast by End-User Industry
Table 21: Eastern Europe Market US$ Mn Forecast by Country
Table 22: Eastern Europe Market US$ Mn Forecast by Type
Table 23: Eastern Europe Market US$ Mn Forecast by Application
Table 24: Eastern Europe Market US$ Mn Forecast by Form
Table 25: Eastern Europe Market US$ Mn Forecast by End-User Industry
Table 26: Asia Pacific Market US$ Mn Forecast by Country
Table 27: Asia Pacific Market US$ Mn Forecast by Type
Table 28: Asia Pacific Market US$ Mn Forecast by Application
Table 29: Asia Pacific Market US$ Mn Forecast by Form
Table 30: Asia Pacific Market US$ Mn Forecast by End-User Industry
Table 31: East Asia Market US$ Mn Forecast by Country
Table 32: East Asia Market US$ Mn Forecast by Type
Table 33: East Asia Market US$ Mn Forecast by Application
Table 34: East Asia Market US$ Mn Forecast by Form
Table 35: East Asia Market US$ Mn Forecast by End-User Industry
Table 36: MEA Market US$ Mn Forecast by Country
Table 37: MEA Market US$ Mn Forecast by Type
Table 38: MEA Market US$ Mn Forecast by Application
Table 39: MEA Market US$ Mn Forecast by Form
Table 40: MEA Market US$ Mn Forecast by End-User Industry
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 4: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 5: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 7: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 8: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 9: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 10: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 13: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 14: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 15: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 17: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 18: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 19: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 20: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 22: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 23: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 24: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 25: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 26: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 27: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 28: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 29: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 30: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 31: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 32: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 33: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 34: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 35: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 36: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 37: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 38: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 39: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 40: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the terpene resin market value in 2024?
The global market for terpene resins is estimated at US$ 1.13 billion in 2024.
At what rate is the market for terpene resins projected to advance?
Demand for terpene resins is projected to exhibit a CAGR of 7.4% from 2024 to 2034.
Terpene Resin Market