Alpha-pinene and beta-pinene have emerged as top-selling products in the crude sulfate turpentine market on account of their applications across diverse industries, from printing and tires industries to cosmetics and personal care industry.
According to a recent Future Market Insights (FMI) report, the demand for crude sulfate turpentine will surpass a valuation of over US$ 513.5 Mn in 2021, rising at a CAGR of around 5.4% through the end of 2031.
While alpha-pinene is famous for its distinct scent and is used as a primary component in essential and aromatherapy oils, beta-pinene is not far behind. Both of them are boosting crude sulfate turpentine sales and are expected to account for a share of 71.4% in the market in 2021.
Crude sulfate turpentine products are always specialized when in terms of applications. New and innovative products according to consumer demand are being launches, which is a key factor increasing the market worth of crude sulfate turpentine.
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The rising demand for clean label products in food and other industries will create prospects for growth of the market. Besides this, favorable regulations will encourage manufacturers to research on diverse applications of crude sulfate turpentine.
Fragrance producers alone taking the market on wheel with 59.9% market share in 2021 for cosmetics and personal care industry, while paints sector accounted for 70.3% market share for printing industry in 2021.
Key Takeaways from Crude Sulfate Turpentine Market Study:
- The U.S. is estimated to account for more than 94.2% of the North America market in 2021, supported by consumer awareness regarding the product.
- In Latin America, Brazil has emerged as leading market with 39.8% share in 2021.
- France with 29.9% share in 2021, Russia and the U.K. will emerge as highly lucrative markets for crude sulphate turpentine in Europe.
- According to FMI’s analysis, India is estimated to account for more than 50.5% of South Asia share in 2021, supported by easy availability of raw materials.
- China is dominating the East Asia crude sulfate turpentine market with 56.9% share in 2021, while Japan and South Korea are projected to showcase steady growth.
“Driven by a wide range of applications as a solvent, adhesive, thinner, favoring agent, fragrances, supplementary drugs, crude sulfate turpentine market players are investing in research and development to launch innovative and advanced products such as renewable energy and bio-fuel, and new varieties of drugs to gain competitive edge through 2031,” said a lead analyst at FMI
Who is winning?
Key players operating in the crude sulfate turpentine market are putting their efforts on expanding manufacturing facilities to diversify their product ranges globally. Numerous local players, regional and multinational companies are now operating in the market and they want to solidify their presence. Manufacturers are being innovative and coming up with smart labelling, healthy ingredients, attractive packaging and exotic flavors to gain competitive edge as they are targeting health-conscious consumers with increased awareness.
Some of the leading companies offering crude sulfate turpentine are Kraton Corporation, Pine Chemical Group, Symrise, Storaenzo, UPM Corporation, Dérivés Résiniques et Terpéniques, Takasago International Corporation, Metsa Fibre, West Rock, Torgoviy Dom Lesokhimik and Others.
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Get Valuable Insights into Crude Sulfate Turpentine Market
Future Market Insights, in its new offering, provides an unbiased analysis of crude sulfate turpentine market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.
The study divulges compelling insights on the demand for crude sulfate turpentine on product type (alpha-pinene, beta-pinene, camphene, limonene, 3-carene and terpinolene), by form (powder and oil), by processing methods (steam-distilled, destructively-distilled, sulphate-distilled and sulphite-distilled) and by application (printing industry, paints, printer’s ink, veterinary medicine, stimulant diuretic, anthelmintic, carminative, expectorant, cosmetics and personal care, fragrances, cosmetics products, massage oils and aromatherapy, tires industry, plastic industry, rubber industry and others aross seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and MEA).
Key Points Covered in Crude Sulfate Turpentine in Food and Beverage Sector Study
- Market Estimates and Forecast 2015-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Crude Sulfate Turpentine in Food and Beverage Sector and How to Navigate
- Recommendation on Key Winning Strategies
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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