The global crude sulfate turpentine market size
is expected to reach at USD 806.2 million by 2025, according to a new report by
Grand View Research, Inc. The market is projected to record a CAGR of 3.5%
during the forecast period. Increasing product penetration in the aroma
chemicals is anticipated to fuel the business growth. Product demand across
varied applications including aroma chemicals, personal care, and home care
products is expected to drive the market.
Increasing preference towards bio-based
products owing to superior advantages over synthetically-derived products will
further augment the demand over the estimated period. Major industry
participants are focusing on procuring sustainable feed stock and implementing
effective production process. They are shifting towards high bio renewable content
products to ensure superior performance across end-use applications. Solvents
manufacturer implementing carene as ingredient are targeting chemical
processing, paints, adhesives industries to grab more opportunities by
replacing chemical compounds like hydrocarbons, cement, and mineral spirits.
Carene is anticipated to be the
fastest-growing segment in future owing to wide usage of the product in solvent
production. Personal and home care application accounted for over 30% volume
share in 2018. Increasing demand for flavors and fragrance with natural
products will fuel the segment growth further. Rising product usage as a
feedstock to manufacture polymer additives, turpentine oil, pine oil, and
pinenes is also likely to contribute to the segment development.
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or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/crude-sulfate-turpentine-market
https://www.grandviewresearch.com/industry-analysis/crude-sulfate-turpentine-market
Further key findings from the study suggest:
· The global crude sulfate turpentine market
is anticipated to reach 220.8 kilotons by 2025 expanding at an estimated CAGR
of 2.1% from 2019 to 2025
· In terms of revenue, carene is projected to
ascend at a CAGR of 4% over the forecast period
· Aroma chemicals application segment led the
global market in 2018
· Asia Pacific is projected to witness the
fastest CAGR over the next estimated time period owing to rising preference for
naturally extracted products
· Some of the key companies in this market
are DRT, Kraton Corportation, Pine Chemicals Group, and ORGKHIM Biochemical
Holding
· Most of these firms are collaborating with
distributors to improve their regional presence and industry share
Grand View Research has segmented the
global Crude Sulfate Turpentine derivatives market on the basis of product,
application, and region:
Crude Sulfate Turpentine Product
Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2025)
·
Carene
·
Terpineol
·
Camphor
·
Pinane Hydroperoxide
·
Pure Alpha-pinene
·
Beta-pinene
·
Terpene Resins
·
Limonene
Crude Sulfate Turpentine Application
Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2025)
·
Additives
·
Adhesives
·
Solvents
·
Rubber Processing
·
Aroma Chemicals
·
Personal/Home Care Product
Crude Sulfate Turpentine Regional Outlook
(Volume, Tons; Revenue, USD Thousand, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central and South America
·
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
