(I-BusinessNews.Com, October 17, 2019 ) Market Overview:
Crude sulphate turpentine is a by-product of cellulose making by sulphate process, and after cleaning it from sulfur-containing compounds it is applied in various fields of paint-and-varnish and chemical industry.
Crude sulfate turpentine market is witnessing maximum growth owing to the bio-friendly nature of the product. Owing to which this product has found applications in a wide range of FMCG products such as perfumes, toothpaste, soaps and more.
Moreover, an increase in the production of chemical products from turpentine which is used as a solvent, fragrance agent and flavor are some other factors expected to fuel the growth of Crude Sulfate Turpentine market.
Crude sulphate turpentine has a wide range of applications in the chemical industry as a solvent, and also product types such as alpha and beta, pinenes, polymerized products, solid and liquid polyterpene resins, as well as monoterpenic alcohols, isoborneol, camphene, and paracymene are derived crude sulphate turpentine. Which are applied as solvents, materials for adhesives making, flotators, biologically active substances, polymerization activators and for manufacturing of perfume additives.
Therefore growing end-user industries, shifting the focus of consumers towards natural based products and governments initiative to encourage environmental friendly products will boost the crude sulfate turpentine market.
Growing economies have been witnessing robust growth in the FMCG sector owing to the growing awareness, easier access and changing lifestyles have been the key growth drivers for the sector.
For instance in India, Fast-moving consumer goods (FMCG) sector is the 4th largest sector in the Indian economy with Household and Personal Care accounting for 50 percent of FMCG sales in India.
By geography, the Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
Crude sulfate turpentine accounts for 96% to the overall turpentine production in the US. Turpentine produced in the US is mainly of alpha-pinene accounted for 85% followed by camphene and limonene.
Whereas the chemical industry is one of the United States’ largest manufacturing industries, serving both a sizable domestic market and an expanding global market. Also, chemicals are the top exporting sectors of U.S. manufacturing. Therefore the prominent chemical industry will further boost the consumption of this product.
Some of the major players include, Harima Chemicals Group Inc., Pine Chemical Group, OOO Torgoviy Dom Lesokhimik, Stora Enso Oyj, Yashura Chemical Co., Ltd., Himachal Terpene Products Pvt Ltd, Derives Resiniques et Terpeniques.
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