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What are the Top Key Players in Global Ester Gum Market?

 

Ester Gum Market: Highlights

 

·         Ester gum is a modified natural resin made from rosin that has been esterified by heating polyhydric alcohols such as glycerol. Ester gum contains glyceryl, methyl, and ethyl esters of rosin acids. These are lighter in color than rosin and have higher softening point but lower acid number.

·         Rosin is a natural product derived from pine trees and consists of a complex mixture of mutually soluble organic compounds. Rosins are produced commercially through three methods: solvent extraction of aged and ground pine stumps (wood rosin); extraction of crude tall oil as a byproduct of the Kraft pulping process for making paper followed by acidification and fractional distillation (tall oil rosin); and tapping the living tree to collect oleoresin followed by distillation to yield turpentine and a resinous substance (gum rosin). Gum, tall oil, and wood rosins are obtained from pine trees. Therefore, they are similar in composition.

·         Ester gum is used in various applications including chewing gum, beverages, paints, inks & coatings, adhesives, and cosmetics

 

Key Drivers of Ester Gum Market

 

·         Rise in demand for ester gum in the paints & coatings industry is expected to fuel the global ester gum market in the next few years due to its characteristics such as usage in toluene-acetone blends and nitrocellulose lacquers. Additionally, ester gum is majorly modified with maleic anhydride for sealers and varnish applications to provide hardness. Increase in usage of pentaerythritol ester gum in coatings for lithography applications is a key factor expected to drive the market in the near future.

 

Ester Gum Market: Application Segment

 

·         Based on application, the global ester gum market can be segmented into chewing gum, beverages, paints & coatings, adhesives, cosmetics, and others

·         The chewing gum segment accounted for major share of the global ester gum market in 2019

·         Expanding at a healthy growth rate, beverages, paints, paints & coatings, and adhesives segments are expected to create significant incremental opportunities during the forecast period

·         In terms of demand, cosmetics and others segments are likely to expand at a moderate to high pace in the near future

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Ester Gum Market: Covid-19 Impact

 

·         The COVID-19 pandemic has had a negative impact on the global economy. It has affected various industrial sectors by hampering the supply chain. With months of consumer lockdown; and international supply chains and retail business shuttered, purchase and consumption behavior has changed significantly across various sectors. This, in turn, has adversely impacted the ester gum market.

·         The combination of extended lockdowns in developed market economies and domestic social distancing has deepened the adverse impact on emerging market economies. Longer lockdowns have severely hampered household income, corporations' liquidity, and banks' asset quality.

 

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Asia Pacific to be Key Region of Global Ester Gum Market

 

·         In terms of region, the global ester gum market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In Asia Pacific, China aims to promote investments in its respective end-use industries. This is expected to boost the ester gum market in the country.

·         In terms of demand, Asia Pacific held major share of the global market in 2019. It was followed by North America and Europe. Asia Pacific is one of the major regions of the global ester gum market due to high demand for chewing gum, cosmetics, and beverages in the region. The domestic personal care and cosmetics industry in China also expanded in 2018. Companies are striving to invest in the world’s largest consumer market for cosmetics to increase their production capacity. This, in turn, is driving the ester gum market in the region during the forecast period.

·         The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. End-use industries in Mexico have been expanding steadily. Apart from that, the UAE also exhibits tremendous growth potential. This is projected to drive the demand for ester gum in Latin America and Middle East & Africa, respectively, during the forecast period.

 

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Prominent Manufacturers Operating in Market

The global ester gum market was highly fragmented in 2019. Key manufacturers operating in the global market include:

·         DRT

·         Arakawa Chemical Industries, Ltd.

·         Eastman Chemical Company

·         Foshan Baolin Chemical Industry Co., Ltd

·         Jubilant

·         Mangalam Organics Limited

·         PT. INDOPICRI

·         Shree Resins

·         The Cary Company

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