Gum Rosin Price In China
- China: 1643 USD/MT
The price of gum rosin in China for Q4 2023 reached 1643 USD/MT in December.
The latest report by IMARC Group, titled " Gum Rosin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data ," provides a thorough examination of the Gum Rosin Prices . This report delves into the price of Gum Rosin globally, presenting a detailed analysis, along with informative Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts Industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Gum Rosin Prices December 2023:
- China: 1643 USD/MT
- Brazil: 1153 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
Gum rosin, a natural resin obtained from pine trees, is widely used in various industries, including adhesives, coatings, rubber, paper, and inks, due to its excellent adhesive properties and chemical stability. The global Gum Rosin market is driven by increasing demand in the adhesive and sealant industries, spurred by growth in construction and automotive sectors. Additionally, the rise in packaging applications and the shift towards eco-friendly products enhance its market potential. Technological advancements in processing and the expansion of end-use industries in emerging economies further contribute to the market growth and evolving trends.
Gum Rosin Industry Analysis
In the first quarter of 2024, US Gum Rosin prices have Firmed due to high upstream costs and tight supply. Feedstock pine wood prices provided substantial cost support, leading to bullish market sentiments among manufacturers. Increased demand from the downstream rubber industry, driven by steady automotive sector consumption, has further supported the upward price trend. Anticipating rising inflationary pressures, the Federal Reserve has ruled out an interest rate cut before June. Consequently, limited supply, improved demand dynamics, and high production costs have collectively driven gum rosin prices higher in the domestic market.
Gum Rosin prices in the Asia-Pacific market fluctuated in Q1 2024. In China, prices initially rose due to constrained supply from scheduled and unexpected plant shutdowns, escalating geopolitical tensions, and Red Sea disruptions. Higher pinewood feedstock costs also drove production expenses up.
However, domestic demand from paints, coatings, and rubber industries remained average due to weak automotive and construction sectors, and overseas inquiries softened amid macroeconomic challenges. Early factory shutdowns for Lunar New Year further dampened demand. By the quarter's end, declining pinewood prices and ongoing economic weaknesses led to a price downtrend.
Gum Rosin prices in Germany rose due to severe supply constraints from upstream challenges and Suez Canal disruptions in Q1 2024, despite declining pinewood feedstock prices. Tight import conditions, exacerbated by the Red Sea/Suez Canal crisis and logistical issues, significantly increased imported prices.
Global ocean freight rates, after spiking in January, corrected in February due to optimized operations but remained above pre-crisis levels. Demand from the paints, coatings, adhesives, and sealants industries was average amid macroeconomic headwinds, with slowed construction sector consumption and average spot market transactions.
In Q1 2024, Gum Rosin prices in South America exhibited mixed trends. In the first half, Brazilian prices rose due to tight pinewood supply, high production costs, and strong demand from the paints, coatings, and construction sectors. However, in the second half, prices declined as pinewood costs stabilized, demand remained average, and overseas purchasing activity reduced. Lower inflation improved end-user purchasing power, and sufficient supply met downstream demand, leading manufacturers to reduce export prices amid unfavorable economic conditions.
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, Colombia, Chile, Ecuador, and Peru
- Middle East & Africa : Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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