Alpha Pinene Market Size, Share, Growth, and Industry Growth, By Type (≥ 95%, <95%), By Application (Aroma Chemicals, Adhesive & Tire Resins, Solvents & Cleaners, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Alpha Pinene Market REPORT OVERVIEW

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The global alpha pinene market size was USD 195.4 million in 2021 and market is projected to touch USD 271.39 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 3.3% during the forecasted period.

Alpha pinene is a terpene organic compound that is colorless, water-insoluble, and contains a reactive four-member ring. It has wide-ranging applications in the oil industry as it is found in many oil species such as coniferous trees and pine. The chemical is divided into type and application segments, ranging from aroma chemicals and adhesive tire resins to solvents and cleaners. The type segment comprises below 95% and above 95% chemical varieties. It is also found in the eucalyptus and orange peel oils.

Alpha pinene is used for various pharmaceutical activities such as antibiotic resistance, antimicrobial, anti-inflammatory, antitumor, antioxidant and anticoagulant effects. Due to the chemical's diverse biological activities, it is used in flavors, fragrances, fungicidal, and antiviral agents. Along with these uses, the chemical also finds applications in antibacterial and antimicrobial agents. Additionally, pinene is also effective for treating breast cancer and leukemia as it is deemed a safe chemical by researchers.

COVID-19 Impact: Supply Chain Disruptions and Manufacturing Halt Impeded Market Growth

The worldwide restrictions and production halt impeded the growth of the alpha pinene industry as leading industrial players grappled to maintain their market share and profit revenues. The pandemic heavily impacted the research efforts invested in studying the chemical as laboratories and healthcare systems were shut down and were only operational for vaccine developments and productions. Thus, these factors negatively impacted product growth, thus incurring losses for buyers and investors.

LATEST TRENDS

"Investments in Research and Development to Lead Growth"

The pinene industry will witness potential growth in the upcoming years. The industry's growth is attributed to rising investments in research & development activities, entry of new companies, product innovations, technological breakthroughs, and growing competition among competitors to expand their regional and customer base. Supportive government policies and favorable laws will determine the future growth of the alpha pinene market. An increase in the spending capability of consumers due to a rise in disposable income will further contribute to the chemical's market growth.

Alpha Pinene Market SEGMENTATION

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• By Type

The market is categorized based on types of ≥95% and <95%.

• By Application

Based on applications, the market is subcategorized into aroma chemicals, adhesive & tire resins, solvents & cleaners, and others.

DRIVING FACTORS

"Applications in Healthcare Industry to Boost Market Growth"

Using chemicals in pharmaceutical activities such as antibiotics, cancer treatment, and genetics will drive the alpha pinene market growth. The severe side-effects of cancer treatment are lessened by using the chemical with treatment drugs, thereby providing efficient results and safety to the patient's healthcare treatment. The pinene is also used to treat gastrointestinal disorders and diseases caused due to lack of menstrual hygiene in the healthcare sector. Thus, these applications will lead the market growth.

"Usage in Anti-Inflammatory and Anxiety Drugs to Drive Growth"

Using the chemical in anti-inflammatory and anxiety drugs will lead to the chemical's market growth as it alleviates pain and reduces stressful feelings in the body, calming a person. Alpha pinene is also used in neuroprotective procedures to lessen short-term memory impairment in patients, thus improving cognition in the patients. Therefore, these factors will collectively drive market growth, leading to massive profits and revenues for the alpha pinene industry.

RESTRAINING FACTORS

"Reports of Sensory and Skin Irritation to Impede Market Growth"

According to research, using the chemical in flavors, fragrances, and medicinal drugs may impede market growth due to irritation in the skin and sensory side effects. Reports of side effects in medical treatment may caution consumers, which may slow down the market growth of the chemical as the demand for the products using it goes down. Thus, investors and leading industrial players should consider these factors before investing in products manufactured with proportions of alpha pinene.

Alpha Pinene Market REGIONAL INSIGHTS

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"North America to Lead Market Share due to Production Boom"

The North American region will lead the alpha pinene market share owing to a boom in the production capacity of leading industrial players and high demands by manufacturing companies. The U.S. will drive the industry's growth share and demand, thus leading to profits for regional investors. Therefore, the rise is attributed to increased production levels in the supply chain and demand post the pandemic.

KEY INDUSTRIAL PLAYERS

The report analyzes various market players in the industry, and the information is published after proper research, analysis of trends, key developments, new initiatives, and technological developments and innovations. The report also includes thorough research on companies, regions, technical and environmental outcomes, and newly emerging industries' impact and risks. The study considers all the points after a comprehensive analysis, thus generating future possibilities for the market. Therefore, the factors mentioned in the report are subject to change as the dynamics and situation of the market change. The North American region will lead the industry with the highest market share.

List of Market Players Profiled

• Arizona Chemical(Kraton) {U.S.}
• DRT
• IFF
• Symrise (Germany)
• Socer Brasil (Brazil)
• Yasuhara Chemica (Japan)
• Sociedad de Resinas Naturales (Spain)
• Sky Dragon Fine-Chem (China)
• Sky Dragon Forest Chemical (China)
• Zhongbang Chemicals (China)
• Xinghua Natural Spice (China)
• GuangDong Pine Forest Perfume (China)
• Dongping Flavor & Fragrances (China)
• Yunnan Linyuan Perfume (China)
• Privi Organics (U.S.)

INDUSTRY DEVELOPMENT

March 2022: South-Korea based specialty polymer company DL Chemical acquired Arizona Chemical (Kraton), its U.S. counterpart, in a significant development with USD 2.5 billion at stake. Kraton is presently a wholly owned subsidiary of DL Chemical, which opened the first quarter of 2022 with huge profits. This development has opened several opportunities for Kraton to establish a solid market base in the Asia Pacific region. It will also benefit DL Chemical as the company looks to accelerate its market status as a leading industrial player. 

REPORT COVERAGE

The report examines elements that affect the demand and supply factors and estimates dynamic market forces for the forecast period. It also offers drivers, restraints, the latest trends, and critical industrial developments. After evaluating the market factors, the report provides an extensive SWOT analysis. The research is subject to alteration if leading players and analysis of market dynamics change. The information is an estimation of the factors mentioned, taken into consideration after thorough research. The report also provides information on segmentation, key industry developments, and an analysis of risks in the hemoperfusion production industry.