The report “Terpene Resins Market by product type (Solid, Liquid), grade (Industrial, Technical), application (Inks & coatings, adhesives & sealants, chewing gums pulp & paper, plastic & rubber, leather processing), and Region- Global Forecast to 2027″, size is projected to reach USD 1,450 million by 2027 from USD 991 million in 2022, at a CAGR of 7.9% during the forecast period.

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Industrial-grade terpene resins are used as adhesives in various industries, such as paper and packaging, wood products, and construction. Terpene resins are made from renewable resources, such as pine and other tree species, making them a more sustainable alternative to petroleum-based resins. They are also non-toxic and have a low odor, making them suitable for use in food and medical applications as well. A wide application range of industrial grade terpene resins lead its market share in the Terpene Resins Market.

Based on application, the pulp & paper segment is expected to grow at the highest rate during the forecast period in the Terpene resins market. Terpene resins are in high demand in the pulp & paper industry due to its superior and unique properties such as good adhesion, excellent heat resistance, good chemical resistance, and low toxicity. There properties make terpene resins suitable for use as adhesives and binders in the production of paper products, including packaging materials and paperboards, thereby creating higher demand during the forecast period.

Asia Pacific is expected to grow at the fastest rate in the terpene resins market during the forecast period. The presence of various manufacturing industries in the countries such as China and Japan, increasing demand for paper & packaging products, the growing consumer goods industry, and favorable government policies and regulations, are some of the factors expected to drive the market demand in the region.

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The key players in the Terpene resins market include Mangalam Organics Limited (India), Yasuhara Chemical Co. Ltd (Japan), Ingevity (US), Kraton Corporation (US), Baolin Chemical Industry Co. Ltd (China), Lesco Chemical Company (China), Arakawa Chemicals (Japan), Xinyi Sonyuan Chemical Co. Ltd (Japan) and others.

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