Market Size of Crude Sulfate Turpentine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Crude Sulfate Turpentine Market Analysis
The market for crude sulfate turpentine is expected to register at a CAGR of over 3% during the forecast period.
COVID-19 negatively impacted the market in 2022. Several countries worldwide went into lockdown to curb the virus spread due to the pandemic scenarios. The crude sulfate turpentine demand from various industries such as perfumes and fragrances, beauty and cosmetics, and others was halted. However, the condition recovered in 2021, benefiting the market growth studied over the forecast period.
- The primary factor driving the market's growth is the growing household and personal care product utilization.
- Moreover, other factors driving the market's growth include high aroma chemicals consumption in producing different fragrances and flavors.
- On the flip side, the high amount of investments required in the distillation process is a restraint in developing the studied market.
- North America is anticipated to hold the largest market share due to the region's high home and personal care product consumption.
Crude Sulfate Turpentine Industry Segmentation
Crude sulfate turpentine is a derivative product of turpentine acquired via the distillation of resin occurring in live trees, mainly pines. It is a flammable fluid that is insoluble in water. However, it dissolves in certain solvents. The crude sulfate turpentine market is segmented by product, application, and geography. The market is segmented by product: alpha-pinene, beta-pinene, camphene, and others. By application, the market is segmented into aroma chemicals, additives, adhesives, personal/home care, and others. The report also covers the market size and forecasts for crude sulfate turpentine in 15 countries across major regions. Each segment's market sizing and forecasts are based on revenue (USD million).
| Product | |
| Alpha- pinene | |
| Beta-pinene | |
| Camphene | |
| Others |
| Applications | |
| Aroma Chemicals | |
| Additives | |
| Adhesives | |
| Personal/Home Care | |
| Others |
| Geography | ||||||||
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Crude Sulfate Turpentine Market Size Summary
The crude sulfate turpentine market is poised for growth, driven by increasing demand in household and personal care products, as well as the high consumption of aroma chemicals used in fragrances and flavors. The market experienced a setback due to the COVID-19 pandemic, which disrupted demand from sectors like perfumes and cosmetics. However, recovery was observed in 2021, setting the stage for continued expansion. The market's growth is further supported by a shift towards eco-friendly products, with consumers increasingly favoring sustainable cosmetics and personal care items. North America is expected to dominate the market, bolstered by its substantial consumption of home and personal care products.
The market landscape is characterized by a consolidated structure, with key players such as KRATON CORPORATION, Pine Chemical Group, and others actively participating. The crude sulfate turpentine is primarily utilized in the production of perfumes and flavors, with significant applications in detergents and soaps. The demand for environmentally-friendly fragrance ingredients is on the rise, prompting investments in organic turpentine production. Companies like The Honest Company and Mielle Organics are expanding their reach, reflecting the growing market potential. Strategic acquisitions and collaborations, such as Weyerhaeuser Company's timberland acquisition and Kraton Corporation's sustainability initiatives, underscore the industry's focus on sustainable growth and innovation.
Crude Sulfate Turpentine Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Utilization of Household & Personal Care Products
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1.1.2 Surge in Demand from High Aroma Chemicals Application
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1.2 Restraints
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1.2.1 High Amount of Investments Required in the Distillation Process
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Product
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2.1.1 Alpha- pinene
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2.1.2 Beta-pinene
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2.1.3 Camphene
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2.1.4 Others
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2.2 Applications
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2.2.1 Aroma Chemicals
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2.2.2 Additives
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2.2.3 Adhesives
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2.2.4 Personal/Home Care
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2.2.5 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East & Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 South Africa
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2.3.5.4 Rest of Middle-East & Africa
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Crude Sulfate Turpentine Market Size FAQs
What is the current Crude Sulfate Turpentine Market size?
The Crude Sulfate Turpentine Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Crude Sulfate Turpentine Market?
KRATON CORPORATION , Pine Chemical Group, Lawter, HARTING Technology Group and Pinova, Inc. are the major companies operating in the Crude Sulfate Turpentine Market.
