The forest in India yields a large number of products, which play an important role in the economy of the country. Natural products may be extracted from tissues of terrestrial plants, marine organisms or microorganism fermentation broths. A crude (untreated) extract from any one of these sources typically contains novel, structurally diverse chemical compounds, which the natural environment is a rich source of. There are numerous product which is has a vital commercial applications for example gum karaya, locust bean gum, tamarind gum, rosin and rosin derivatives, turpentine and its derivatives, tall oil and its derivatives, essential oil of deodar, essential oils of cinnamon species and many more. Gum is any of a number of naturally occurring resinous materials in vegetative species. Various essential oils are also obtained from natural resources like deodar, Juniperus recurvavar, Suamata, Cinnamon species, agar wood etc.
Tall oil products find use in many product applications because of their economy and ready availability. Tall oil is more like a chemical product with a constant and dependable supply and a steady price. It has a large number of applications like; adhesives, carbon paper, cement addition agent, detergents, drawing oils, fungicides, lubricants, soaps, rubber additives, surface coating etc. Phenolic adhesives continue to be the most significant adhesives for the production of weather resistant wood products. In terms of volume of trade, revenue and employment potential, the minor forest products have surpassed the traditional major forest products viz, timber, firewood, pulp, wood etc.
Market Demand
The demand for the product in adhesives accounted for over USD 700 million in 2015 owing to increasing use of the compound as an ingredient for the manufacture of adhesives. In addition, rapid development of the adhesives industry in China and India is expected to translate into a growing demand for the compound over the forecast period.
The global gum rosin market is expected to reach USD 2.49 billion by 2024, Increasing demand of gum rosin owing to growth of synthetic rubber industry primarily in China is expected to drive the market growth.
The global market value of the adhesives was estimated to be about $45.36 Billion in 2014 and is projected to reach $59.75 Billion by 2020, growing at a CAGR of 4.72% between 2015 and 2020.
The global oleoresins market was valued at approximately USD 1.0 million in 2014 and is expected to reach approximately USD 1.65 million by 2020, growing at a CAGR of around 9% between 2015 and 2020.
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