Gum Rosin Market - By Product Type, By Application and By Geography Analysis - Forecast 2021 - 2026
Gum Rosin Market size is forecast to reach $1,437.43 million by 2025, after growing at a CAGR of 3.50% during 2020-2025. Major factors driving gum rosin demand include increasing demand from key application industries such as adhesives and rubber, growth in the construction project, and increasing automotive production. Factors such as economic growth, industrial growth, rising consumer disposable incomes, and standards of living have levied high pressure on the automotive and building & construction industries for higher output and better-quality products. This has led to the increasing procurement of gum rosin by players of these end-use industries over the past few years. In addition, various key players and heavily investing in research and developments for developing efficient tapping methods and development of genetic changes that would increase the flow of resins in the trees, which will help the players to increase the overall product output and cater to the steadily-grow