Theforest in India yields a large number of products, which play an important rolein the economy of the country. Natural products may be extracted from tissuesof terrestrial plants, marine organisms or microorganism fermentation broths. Acrude (untreated) extract from any one of these sources typically containsnovel, structurally diverse chemical compounds, which the natural environmentis a rich source of. There are numerous product which is has a vital commercialapplications for example gum karaya, locust bean gum, tamarind gum, rosin androsin derivatives, turpentine and its derivatives, tall oil and its derivatives,essential oil of deodar, essential oils of cinnamon species and many more. Gumis any of a number of naturally occurring resinous materials in vegetativespecies. Various essential oils are also obtained from natural resources likedeodar, Juniperus recurvavar, Suamata, Cinnamon species, agar wood etc.
Talloil products find use in many product applications because of their economy andready availability. Tall oil is more like a chemical product with a constantand dependable supply and a steady price. It has a large number of applicationslike; adhesives, carbon paper, cement addition agent, detergents, drawing oils,fungicides, lubricants, soaps, rubber additives, surface coating etc. Phenolicadhesives continue to be the most significant adhesives for the production ofweather resistant wood products. In terms of volume of trade, revenue andemployment potential, the minor forest products have surpassed the traditionalmajor forest products viz, timber, firewood, pulp, wood etc.
Market Demand
Thedemand for the product in adhesives accounted for over USD 700 million in 2015owing to increasing use of the compound as an ingredient for the manufacture ofadhesives. In addition, rapid development of the adhesives industry in Chinaand India is expected to translate into a growing demand for the compound overthe forecast period.
Theglobal gum rosin market is expected to reach USD 2.49 billion by 2024,Increasing demand of gum rosin owing to growth of synthetic rubber industryprimarily in China is expected to drive the market growth.
Theglobal market value of the adhesives was estimated to be about $45.36 Billionin 2014 and is projected to reach $59.75 Billion by 2020, growing at a CAGR of4.72% between 2015 and 2020.
Theglobal oleoresins market was valued at approximately USD 1.0 million in 2014and is expected to reach approximately USD 1.65 million by 2020, growing at aCAGR of around 9% between 2015 and 2020.