SAN FRANCISCO, October 18, 2016 /PRNewswire/ --
The global gum rosin market is expected to reach USD 2.49 billion by 2024, according to a new report by Grand View Research, Inc. Increasing demand of gum rosin owing to growth of synthetic rubber industry primarily in China is expected to drive the market growth. Increasing demand for high grade gum rosin products including WW and X grade by application industries is expected to benefit the market growth. The industry is characterized by abundance of raw materials in major producing regions such as Brazil, Indonesia, and China. In addition, the availability of low-cost labor, coupled with rapid development of the paper and adhesives industries in the region, is anticipated to provide impetus to the market growth.
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The industry growth is expected to be restrained by increasing substitution of gum rosin by tall oil rosin. In addition, unfavorable weather conditions in China is expected to act as a major restraint for growth.
The market is expected to be driven by availability of low-cost gum rosin produced in Brazil and Indonesia. In addition, rapid development of the rubber, inks, and adhesives industry in Europe is likely to translate into increasing demand for the product in the region.
Browse full research report with TOC on "Gum Rosin Market Analysis By Product (X, WW, WG, N, M, K), By Application (Adhesives, Rubber Softener, Paper sizing, Thermoplastic Coatings, Food, Printing Inks), And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/gum-rosin-market
Further key findings from the report suggest:
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Grand View Research has segmented the global gum rosin market on the basis of product, application and region:
Access research insight: http://www.grandviewresearch.com/research-insights/gum-rosin-market-binding-markets-since-decades
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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