18-Sep-2019: 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.
In
depth research report on 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
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About
Grand View Research
Grand View Research, Inc. is the
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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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