Terpene resin is more environmentally friendly and sustainable for downstream applications

Terpene resins are some thermoplastic block copolymers with the advantages of light color, low odor, high hardness, high adhesion, good oxidation resistance and thermal stability, good compatibility and solubility, especially EVA series, SIS series, SBS series It has excellent compatibility, weather resistance and viscosity-increasing effect among other hot melts. The raw material of terpene resin is natural turpentine. The finished product has good adhesion, is non-toxic, has high chemical resistance, better moisture resistance, excellent mechanical properties, good fatigue resistance, low shrinkage and strong Durability and many other advantages, the scope of applications is constantly expanding. Industrial Research Center issued the Global and Chinese Terpenes in 2023 “In-depth Research Report on the Terpene Resin Industry” shows that the global terpene resin market size may grow from US$980 million in 2022 to US$1.52 billion in 2027, with a compound annual growth rate of 9.2%. Growing demand for bio-based resin products in Asia, the Middle East and Africa is driving the increase in the global terpene resin market size.

​​ ​Based on product form, solid terpene resin will occupy the largest market share

Solid terpene resin will occupy the largest market share because solid terpene resin is easier to handle, store and transport industrially than liquid terpene resin. Solid terpene resins are also widely used in tires and rubber as high-quality elastomers, in adhesives and sealants as excellent tackifiers for hot melt adhesives, and in pressure-sensitive labels in various end industries, such as in packaging , non-woven fabrics, binding, construction/assembly, tapes and labels and other application scenarios.

​​ ​Based on grade classification, industrial grade terpene resin may become the largest product in the terpene resin market

Industrial grade terpene resins are primarily used as adhesives in various industries including paper and packaging, wood products and construction. Terpene resins are made from renewable resources such as pine and other tree species, making them a sustainable alternative to petroleum-based resins. Terpene resins are also non-toxic and have low odor, making them suitable for food and medical applications as well. Industrial grade terpene resin is widely used and leads the terpene resin market share.

         Based on application, pulp and paper applications have the fastest growing demand

Based on application areas, the pulp and paper industry will become the downstream demand market with the fastest growth rate during the forecast period. Terpene resins are in high demand in the pulp and paper industry. Their advantages such as good adhesion, excellent heat resistance, good chemical resistance and low toxicity make terpene resins widely used in these applications. These properties make terpene resins suitable for use as binders and binders in the production of paper products, including packaging materials and paperboards, thereby creating higher demand during the forecast period.

        The Asia-Pacific region is expected to become the fastest growing regional market

The terpene resin market in Asia Pacific is expected to grow at the fastest rate during the forecast period. The increasing demand for paper and packaging products in countries such as China and Japan, the growing consumer goods industry, and the introduction of corresponding favorable policies and regulations by the government are the main factors driving market demand in the region.

At this stage, the major players in the global terpene resin market include Mangalam Organics Limited (India), Yasuhara Chemical Co. Ltd (Japan), Ingevity (USA), Kraton Corporation (USA), Foshan Baolin Chemical Industry Co., Ltd. (China) ), Puyang Ligao Chemical Co., Ltd. (China), Arakawa Chemical (Japan), Xinyi Songyuan Chemical Co., Ltd. (Japan).