
Terpene Resins Market
Terpene Resins Market Forecasts to 2028 - Global Analysis By Product (Liquid and Solid), Grade (Industrial and Technical), Application (Chewing Gums, Inks & Coatings, Leather Processing, Adhesives & Sealants, Plastic & Rubber, Pulp & Paper and Other Applications), and By Geography

Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $991.0 MN |
Projected Year Value (2028) |
US $1746.0 MN |
CAGR (2022 - 2028) |
9.9% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Terpene Resins Market is accounted for $991.0 million in 2022 and is expected to reach $1746.0 million by 2028 growing at a CAGR of 9.9% during the forecast period. Terpene resin is an organic substance that is derived from plants, such as citrus fruits or wood. A solid substance with a light colour called terpene resin is soluble in many solvents. Terpene also frequently has a potent smell and a high degree of resistance. It is utilised extensively in the industrial sector as an essential oil, fragrance, and flavouring ingredient.
According to the National Bureau of Statistics of China, the revenue in the consumer electronics and household appliances segment reached CNY 934.64 million (USD 138 million) in 2021. According to IBEF, in 2024, the Indian e-commerce market is predicted to reach USD 111 billion by 2025 and USD 350 billion by 2030.
Market Dynamics:
Driver:
Increasing demand for terpene resins from adhesives & sealants
Terpene resins are employed as tackifiers in adhesives and sealants to boost the product's stickiness or adhesion. Tackifiers are materials that are added to adhesives to increase their adherence to surfaces. Because of their large molecular weight and high branching, terpene resins are particularly effective in this aspect because they blend well with other forms of adhesives like rubber and synthetic resins. Terpene resins can also make adhesives and sealants more flexible and impact-resistant. Different end-use sectors, such as packaging, automotive, construction/assembly, and footwear, use terpene-based adhesives. The market demand for terpene resins is anticipated to be driven by the expansion of these end-use industries.
Restraint:
Limited feedstock supply and volatility of raw material prices
Terpene resin producers consider the cost structure of their goods, as well as the price and availability of raw ingredients, when making these decisions. The majority of the raw materials used to make terpene resins come from natural and petroleum-based resources. The market for terpene resins is expected to be impacted by the restricted supply of natural feedstock’s and the increasing regional concentration of suppliers in some countries. Furthermore, the development of this sector can be constrained by changes in oil prices and a fragile global economy.
Opportunity:
High demand for bio-based resins
The market for terpene resins has a sizable opportunity due to the high demand for bio-based resins. When compared to conventional petroleum-based resins, bio-based resins have a lower carbon footprint since they are produced from renewable resources, such as plant-based materials. The demand for bio-based terpene resins is skyrocketing as environmental awareness and the need to reduce reliance on fossil fuels rise. The market for bio-based resins is rising as a result of government restrictions to minimise greenhouse gas emissions and rising consumer awareness of the environmental impact of conventional resins. In the near future, it is anticipated that more industries, including construction, automotive, and packaging, would adopt terpene resins made from bio-based materials.
Threat:
High cost of raw materials
Terpene resins come from organic materials like pine and other coniferous trees, which are typically located in inaccessible, isolated regions. The price of harvesting and shipping these raw materials can be significant, which is one of the main reasons terpene resins are so expensive. Additionally, it costs money and requires a lot of energy to extract and purify the terpenes from the raw materials. This covers the price of the machinery, labour, and energy needed to separate the terpenes from the raw materials, as well as the price of purifying and refining the terpenes to a purity level suitable for usage in resins.
Covid-19 Impact
The COVID-19 epidemic has hampered the functioning of sectors of the global economy like the food and beverage and cosmetics industry. The lockdown has decreased demand for food and drink as well as cosmetics, which has also decreased demand for terpene resins. Terpene resins are utilised as flavouring agents in numerous supplements, but their usage in the pharmaceutical business is anticipated to accelerate market expansion. Terpene's market growth is currently on the decline, but following the lockout, the market is anticipated to expand significantly.
The industrial segment is expected to be the largest during the forecast period
The industrial segment is estimated to have a lucrative growth. Terpene industrial-grade resins are utilised as adhesives in many industries, including construction, wood products, paper and packaging, and wood products. Because they are made from renewable resources like pine and other tree species, terpene resins are a better option for the environment than resins based on petroleum. The majority of the market for terpene resins is dominated by industrial-grade terpene resins because of their wide range of uses.
The plastic & rubber segment is expected to have the highest CAGR during the forecast period
The plastic & rubber segment is anticipated to witness the highest CAGR growth during the forecast period, due to their outstanding and distinguishing characteristics, such as exceptional adhesion, strong heat resistance, good chemical resistance, and low toxicity. They are suitable for adhesives and binders in the production of paper goods, such as packaging materials and paperboards, due to their properties. Since they have great resistance to organic solvents and good toughness characteristics, inks and coatings will expand at the fastest CAGR during the projection period.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising demand for paper and packaging products, the expansion of the consumer goods sector, and supportive government policies and regulations are just a few factors that are projected to have an impact on market demand. The main causes of the development are South Korea, China, and India's robust economies. Due to the region's low cost of production and capacity to better serve the local expanding markets; manufacturers have migrated there, driving the market for terpene resins in the area.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to factors including increased demand from regionally important sectors like rubber and food & beverage. Additionally anticipated to support regional prosperity is the expansion of the cosmetic and personal care industries.
Key players in the market
Some of the key players profiled in the Terpene Resins Market include Ingevity, Mangalam Organics Limited, Henan Tianfu Chemical Co. Ltd, Arakawa Chemical Industries, Ltd., Yasuhara Chemical Co. Ltd, Dujodwala Resins and Terpenes Ltd., Resin Chemicals Co. Ltd, Lesco Chemical Limited, Foreverest Resources Ltd., Baolin Chemical Industry Co. Ltd, Kraton Corporation, Megawide Chemicals Co. Ltd, Akrochem Chemical, Xinyi Sonyuan Chemical Co. Ltd and Hwalong.
Key Developments:
In April 2022, Ingevity has developed new biobased oilfield products such as EnvaWet UHS 3100 and EnvaDry P-FL, derived from pine-based tree oil. These products provide unique performance and sustainability advantages.
In March 2022, Yasuhara signed an agreement with Leaf Resources to purchase terpenes for the next five years. This agreement helps strengthen Yasuhara’s terpene resins business.
Products Covered:
• Liquid
• Solid
Grades Covered:
• Industrial
• Technical
Applications Covered:
• Chewing Gums
• Inks & Coatings
• Leather Processing
• Adhesives & Sealants
• Plastic & Rubber
• Pulp & Paper
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Terpene Resins Market, By Product
5.1 Introduction
5.2 Liquid
5.3 Solid
6 Global Terpene Resins Market, By Grade
6.1 Introduction
6.2 Industrial
6.3 Technical
7 Global Terpene Resins Market, By Application
7.1 Introduction
7.2 Chewing Gums
7.3 Inks & Coatings
7.4 Leather Processing
7.5 Adhesives & Sealants
7.6 Plastic & Rubber
7.7 Pulp & Paper
7.8 Other Applications
8 Global Terpene Resins Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Ingevity
10.2 Mangalam Organics Limited
10.3 Henan Tianfu Chemical Co. Ltd
10.4 Arakawa Chemical Industries, Ltd.
10.5 Yasuhara Chemical Co. Ltd
10.6 Dujodwala Resins and Terpenes Ltd.
10.7 Resin Chemicals Co. Ltd
10.8 Lesco Chemical Limited
10.9 Foreverest Resources Ltd.
10.10 Baolin Chemical Industry Co. Ltd
10.11 Kraton Corporation
10.12 Megawide Chemicals Co. Ltd
10.13 Akrochem Chemical
10.14 Xinyi Sonyuan Chemical Co. Ltd
10.15 Hwalong
List of Tables
1 Global Terpene Resins Market Outlook, By Region (2020-2028) ($MN)
2 Global Terpene Resins Market Outlook, By Product (2020-2028) ($MN)
3 Global Terpene Resins Market Outlook, By Liquid (2020-2028) ($MN)
4 Global Terpene Resins Market Outlook, By Solid (2020-2028) ($MN)
5 Global Terpene Resins Market Outlook, By Grade (2020-2028) ($MN)
6 Global Terpene Resins Market Outlook, By Industrial (2020-2028) ($MN)
7 Global Terpene Resins Market Outlook, By Technical (2020-2028) ($MN)
8 Global Terpene Resins Market Outlook, By Application (2020-2028) ($MN)
9 Global Terpene Resins Market Outlook, By Chewing Gums (2020-2028) ($MN)
10 Global Terpene Resins Market Outlook, By Inks & Coatings (2020-2028) ($MN)
11 Global Terpene Resins Market Outlook, By Leather Processing (2020-2028) ($MN)
12 Global Terpene Resins Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
13 Global Terpene Resins Market Outlook, By Plastic & Rubber (2020-2028) ($MN)
14 Global Terpene Resins Market Outlook, By Pulp & Paper (2020-2028) ($MN)
15 Global Terpene Resins Market Outlook, By Other Applications (2020-2028) ($MN)
16 North America Terpene Resins Market Outlook, By Country (2020-2028) ($MN)
17 North America Terpene Resins Market Outlook, By Product (2020-2028) ($MN)
18 North America Terpene Resins Market Outlook, By Liquid (2020-2028) ($MN)
19 North America Terpene Resins Market Outlook, By Solid (2020-2028) ($MN)
20 North America Terpene Resins Market Outlook, By Grade (2020-2028) ($MN)
21 North America Terpene Resins Market Outlook, By Industrial (2020-2028) ($MN)
22 North America Terpene Resins Market Outlook, By Technical (2020-2028) ($MN)
23 North America Terpene Resins Market Outlook, By Application (2020-2028) ($MN)
24 North America Terpene Resins Market Outlook, By Chewing Gums (2020-2028) ($MN)
25 North America Terpene Resins Market Outlook, By Inks & Coatings (2020-2028) ($MN)
26 North America Terpene Resins Market Outlook, By Leather Processing (2020-2028) ($MN)
27 North America Terpene Resins Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
28 North America Terpene Resins Market Outlook, By Plastic & Rubber (2020-2028) ($MN)
29 North America Terpene Resins Market Outlook, By Pulp & Paper (2020-2028) ($MN)
30 North America Terpene Resins Market Outlook, By Other Applications (2020-2028) ($MN)
31 Europe Terpene Resins Market Outlook, By Country (2020-2028) ($MN)
32 Europe Terpene Resins Market Outlook, By Product (2020-2028) ($MN)
33 Europe Terpene Resins Market Outlook, By Liquid (2020-2028) ($MN)
34 Europe Terpene Resins Market Outlook, By Solid (2020-2028) ($MN)
35 Europe Terpene Resins Market Outlook, By Grade (2020-2028) ($MN)
36 Europe Terpene Resins Market Outlook, By Industrial (2020-2028) ($MN)
37 Europe Terpene Resins Market Outlook, By Technical (2020-2028) ($MN)
38 Europe Terpene Resins Market Outlook, By Application (2020-2028) ($MN)
39 Europe Terpene Resins Market Outlook, By Chewing Gums (2020-2028) ($MN)
40 Europe Terpene Resins Market Outlook, By Inks & Coatings (2020-2028) ($MN)
41 Europe Terpene Resins Market Outlook, By Leather Processing (2020-2028) ($MN)
42 Europe Terpene Resins Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
43 Europe Terpene Resins Market Outlook, By Plastic & Rubber (2020-2028) ($MN)
44 Europe Terpene Resins Market Outlook, By Pulp & Paper (2020-2028) ($MN)
45 Europe Terpene Resins Market Outlook, By Other Applications (2020-2028) ($MN)
46 Asia Pacific Terpene Resins Market Outlook, By Country (2020-2028) ($MN)
47 Asia Pacific Terpene Resins Market Outlook, By Product (2020-2028) ($MN)
48 Asia Pacific Terpene Resins Market Outlook, By Liquid (2020-2028) ($MN)
49 Asia Pacific Terpene Resins Market Outlook, By Solid (2020-2028) ($MN)
50 Asia Pacific Terpene Resins Market Outlook, By Grade (2020-2028) ($MN)
51 Asia Pacific Terpene Resins Market Outlook, By Industrial (2020-2028) ($MN)
52 Asia Pacific Terpene Resins Market Outlook, By Technical (2020-2028) ($MN)
53 Asia Pacific Terpene Resins Market Outlook, By Application (2020-2028) ($MN)
54 Asia Pacific Terpene Resins Market Outlook, By Chewing Gums (2020-2028) ($MN)
55 Asia Pacific Terpene Resins Market Outlook, By Inks & Coatings (2020-2028) ($MN)
56 Asia Pacific Terpene Resins Market Outlook, By Leather Processing (2020-2028) ($MN)
57 Asia Pacific Terpene Resins Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
58 Asia Pacific Terpene Resins Market Outlook, By Plastic & Rubber (2020-2028) ($MN)
59 Asia Pacific Terpene Resins Market Outlook, By Pulp & Paper (2020-2028) ($MN)
60 Asia Pacific Terpene Resins Market Outlook, By Other Applications (2020-2028) ($MN)
61 South America Terpene Resins Market Outlook, By Country (2020-2028) ($MN)
62 South America Terpene Resins Market Outlook, By Product (2020-2028) ($MN)
63 South America Terpene Resins Market Outlook, By Liquid (2020-2028) ($MN)
64 South America Terpene Resins Market Outlook, By Solid (2020-2028) ($MN)
65 South America Terpene Resins Market Outlook, By Grade (2020-2028) ($MN)
66 South America Terpene Resins Market Outlook, By Industrial (2020-2028) ($MN)
67 South America Terpene Resins Market Outlook, By Technical (2020-2028) ($MN)
68 South America Terpene Resins Market Outlook, By Application (2020-2028) ($MN)
69 South America Terpene Resins Market Outlook, By Chewing Gums (2020-2028) ($MN)
70 South America Terpene Resins Market Outlook, By Inks & Coatings (2020-2028) ($MN)
71 South America Terpene Resins Market Outlook, By Leather Processing (2020-2028) ($MN)
72 South America Terpene Resins Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
73 South America Terpene Resins Market Outlook, By Plastic & Rubber (2020-2028) ($MN)
74 South America Terpene Resins Market Outlook, By Pulp & Paper (2020-2028) ($MN)
75 South America Terpene Resins Market Outlook, By Other Applications (2020-2028) ($MN)
76 Middle East & Africa Terpene Resins Market Outlook, By Country (2020-2028) ($MN)
77 Middle East & Africa Terpene Resins Market Outlook, By Product (2020-2028) ($MN)
78 Middle East & Africa Terpene Resins Market Outlook, By Liquid (2020-2028) ($MN)
79 Middle East & Africa Terpene Resins Market Outlook, By Solid (2020-2028) ($MN)
80 Middle East & Africa Terpene Resins Market Outlook, By Grade (2020-2028) ($MN)
81 Middle East & Africa Terpene Resins Market Outlook, By Industrial (2020-2028) ($MN)
82 Middle East & Africa Terpene Resins Market Outlook, By Technical (2020-2028) ($MN)
83 Middle East & Africa Terpene Resins Market Outlook, By Application (2020-2028) ($MN)
84 Middle East & Africa Terpene Resins Market Outlook, By Chewing Gums (2020-2028) ($MN)
85 Middle East & Africa Terpene Resins Market Outlook, By Inks & Coatings (2020-2028) ($MN)
86 Middle East & Africa Terpene Resins Market Outlook, By Leather Processing (2020-2028) ($MN)
87 Middle East & Africa Terpene Resins Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
88 Middle East & Africa Terpene Resins Market Outlook, By Plastic & Rubber (2020-2028) ($MN)
89 Middle East & Africa Terpene Resins Market Outlook, By Pulp & Paper (2020-2028) ($MN)
90 Middle East & Africa Terpene Resins Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY

We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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