Gum Rosin Price In China
- China: 309 USD/MT
The price of Gum Rosin in Korea for Q1 2024 reached 2,530 USD/Ton in March.
The latest report by IMARC Group, titled "Gum Rosin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of Gum Rosin prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Gum Rosin Prices December 2023:
- China: 309 USD/MT
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The study delves into the factors affecting Gum Rosin price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Gum Rosin Price Trend- Q4 2023
The increasing demand for adhesives and sealants in various industries such as packaging, construction, and automotive is driving the demand for gum rosin. Additionally, the growing use of gum rosin in the production of printing inks is contributing to market growth. This is particularly relevant in the packaging industry, where high-quality printing is essential for product branding and information dissemination. The shift towards environmentally friendly and sustainable products is also influencing the gum rosin market, as it is a naturally sourced material with lower environmental impact compared to synthetic alternatives. Moreover, the expanding demand for rubber products in the automotive and manufacturing sectors is another significant factor. Gum rosin is used as a softener and binding agent in the production of rubber, enhancing its elasticity and durability. The increasing vehicle production and the rising need for high-performance rubber components are propelling the demand for gum rosin.
Gum Rosin Market Analysis
The global gum rosin market size reached US$ 1.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 2.3 Billion, at a projected CAGR of 4.70% during 2023-2032. Initially, high upstream prices due to increased pinewood costs and tight supply conditions set a firm pricing tone. As pinewood is a critical raw material for gum rosin production, its high costs directly translated into elevated production expenses, thereby supporting higher gum rosin prices. The automotive sector's robust performance, with vehicle sales increasing from 14.92 million in January to 15.81 million in February, increased demand from the rubber industry, a significant consumer of gum rosin. This increase in automotive production and sales necessitated more rubber components, thus supporting the demand and prices for gum rosin. Concurrently, inflationary pressures in the U.S., with the annual inflation rate edging up to 3.2% in February, influenced the Federal Reserve's decision to maintain high interest rates. This macroeconomic backdrop, characterized by persistent inflation and high production costs, further supported the upward trend in gum rosin prices.
In the Asia-Pacific region, the pricing trend of gum rosin was marked by fluctuations due to a combination of supply and demand factors. Early in the quarter, prices were elevated by constrained supply caused by plant shutdowns and geopolitical tensions, notably affecting Chinese production. The Red Sea disruptions compounded pressures on the already strained Chinese economy, leading to increased pinewood prices and, consequently, higher gum rosin production costs. Despite these high production costs, demand from downstream sectors such as paints, coatings, and rubber remained average, partly due to weak consumption from the automotive and construction sectors. Additionally, the Lunar New Year celebrations led to factory shutdowns, reducing demand. However, towards the end of the quarter, a decline in pinewood prices reduced production costs, contributing to a downtrend in gum rosin prices. Weakened overseas demand due to macroeconomic headwinds further softened prices.
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Key Points Covered in the Gum Rosin Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Gum Rosin Forecast
- Gum Rosin Price Trend
- Gum Rosin Demand & Supply
- Gum Rosin Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Gum Rosin Price Analysis
- Gum Rosin Industry Drivers, Restraints, and Opportunities
- Gum Rosin News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
- North America: United States and Canada.
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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