Gum Rosin Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Gum Rosin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Gum Rosin Price Trend for the First Half of 2023

Asia

Gum rosin prices fluctuated in the first and second quarters of 2023 as the Asian market suffered from the problem of oversupply. In the first quarter, manufacturers were forced to cut down their operation rates due to the weak purchasing potential of buyers. In addition, the building pressure from the hiking interest rates and slow movement of the gum rosin market in both domestic and international sectors hampered the price trend.

In addition to this, the second quarter also suffered from the hike in feedstock prices along with the constriction in manufacturing activities due to labor strikes. The downstream market in this quarter also failed to produce adequate demand to support the prices, and as a result, the price trend of gum rosin fell southwards.

Europe

A stable and stagnant trend in gum rosin prices was observed in the first quarter of 2023 in the European market. The prices in this quarter were supported by the demand from the end-user industries. In addition to this, sufficient availability of inventories and imports from the Asian region helped to balance the rising demand.

However, the second quarter did not fall into these steps as the hike in the level of inventories caused overstocking of the product and thus negatively impacted the price trend of gum rosin. The demand from downstream industries also slowed down due to weak market conditions, which eventually led the price trend of gum rosin to fall down.

North America

The North American market of gum rosin showcased mixed sentiments in the first and second quarters of 2023. The weak movement of paints and coatings, adhesives, and related industries led to the downfall of the prices.

There was some slight improvement in the end months of the first quarter and initial months of the second quarter due to an increased interest of buyers, but this trend could not sustain for long as prices declined again. The automotive and construction sector saw a major reduction in demand in this quarter. Along with this, the labor strikes and shutting down of ports, and a significant rise in the level of inventories, caused the price trend of gum rosin to fall further.

Analyst Insight

According to Procurement Resource, Gum rosin prices are estimated to showcase a declining trajectory as the market sentiments of the downstream industries seem weak.

Procurement Resource provides latest prices of Gum Rosin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.