In the first and second quarters of 2023, gum rosin prices in Asia experienced fluctuations due to oversupply, weak purchasing potential, and pressure from interest rate hikes. Europe saw stable prices in the first quarter, supported by demand from end-user industries and imports from Asia. However, the second quarter witnessed overstocking and downstream demand slowed down, leading to a decline in prices. North America had mixed sentiments, with slight improvement in demand in the first and second quarters but impacted by weak movements in certain industries, labor strikes, and rising inventories, resulting in a continuous downward trend for gum rosin prices.
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Definition
Gum rosin is a natural resin obtained from pine trees. It is a solid, translucent substance with adhesive and solubility properties. Due to its tackiness and ability to dissolve in organic solvents, gum rosin finds extensive use in various industrial applications. It is employed in adhesives, paints, coatings, inks, rubber-based adhesives, paper sizing, electrical insulation materials, soap manufacturing, and rosin core solder production. Its versatility and beneficial properties make it a valuable raw material in multiple industries.
Key Details About the Gum Rosin Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Gum Rosin in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Gum Rosin Price Trends, including India Gum Rosin price, USA Gum Rosin price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Gum Rosin Price Trend:
Gum rosin has various industrial uses due to its adhesive and solubility properties. In the adhesive industry, it serves as a key component in the formulation of various adhesives and sealants used in woodworking, packaging, and construction. It is also used in the production of paints, varnishes, and coatings as a binder, enhancing adhesion to surfaces. Gum rosin finds application in printing inks, rubber-based adhesives, paper sizing, electrical insulation materials, and soap manufacturing. Moreover, it plays a significant role in the production of rosin core solder used in electronics soldering applications.
Key Players:
- Harima Chemicals Group
- GUM CHEMICAL SOLUTIONS
- Forestar Chemical Co Ltd
- GUILIN SONGQUAN FOREST CHEMICAL CO LTD
- CV. INDONESIA PINUS
- Floripinus Chemical Industries
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