(I-BusinessNews.Com, November 14, 2019 ) The crude sulfate turpentine market is projected to grow at a CAGR of 4.10% from 2016 to 2022, to reach a projected value of USD 279.5 Million by 2022. Crude sulfate turpentine has become prominent in recent years due to the increasing demand for fragrance ingredients that require crude sulfate turpentine derivatives; increasing preference of consumers towards eco-friendly products that include crude sulfate turpentine as a substitute to petrochemicals; and increasing demand for personal care products such as perfumes, detergents, and soaps.
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The delta-3-carene segment is projected to be the fastest-growing market during the period 2016–2022
Delta-3-carene is projected to be the fastest growing segment due to the increasing usage of turpentine derivatives as a solvent for cleaning purposes. Moreover, the increasing demand for personal care products such as fragrances and cosmetics that require turpentine derivatives is expected to fuel the market growth of the delta-3-carene type of crude sulfate turpentine across the globe.
Aromatic chemicals is the major application segment in the crude sulfate turpentine market
On the basis of application, the market is segmented into aromatic chemicals, adhesives, paints and printing inks, camphor, and others. Aromatic chemicals accounted for the largest share in the application of crude sulfate turpentine in 2015 owing to the high application of these chemicals in the manufacturing of fast moving consumable goods such as perfumes, air fresheners, and soaps in various countries such as India and China. Moreover, the increasing demand for various personal care products is further expected to fuel the market growth of the aromatic chemicals application segment across the globe.
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North America dominated the crude sulfate turpentine market in 2015
The North American region was the largest market for crude sulfate turpentine in 2015. This is attributed to the widespread presence of the aromatic chemicals and paint industries in the region that consume crude sulfate turpentine. Countries such as the U.S. and Canada are both prominent producers and users of turpentine. Moreover, these countries export crude sulfate turpentine to various regions such as Asia-Pacific and Africa. Countries such as China and India in the Asia-Pacific region are the major consumers of turpentine. The main factors that are expected to drive the market in this region is the high population in countries such as China and India, coupled with the increasing demand from the personal care product industry.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as Renessenz LLC (U.S.), International Flavors & Fragrances Inc. (U.S.), Privi Organics Limited (India), Dujodwala Paper Chemicals Ltd. (India), Arizona Chemical Company LLC (U.S.), Derives Resiniques et Terpeniqes (France), Lawter Inc. (U.S.), Harting S.A. (Chile), and Pine Chemical Group (Finland).
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