NEWARK, Del, June 15, 2023 (GLOBE NEWSWIRE) -- The crude sulfate turpentine market is expected to value at US$ 563 million by 2023. The whole market value is estimated to reach US$ 947.8 million by 2033, expanding at a CAGR of 5.0% between 2023 and 2033.
The crude sulfate turpentine market is predicted to expand significantly due to rising demand for bio-friendly goods. Crude sulfate turpentine is in high order due to its numerous applications, particularly in solvents, adhesives, and thinners in the chemical sector.
Get your PDF Sample Report here @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2890
Increasing Need for Crude Sulfate Turpentine in the Automotive Industry:
Due to its many beneficial qualities, including its outstanding chemical, solvent, abrasion, and adhesive properties, crude sulfate turpentine is widely utilized in the automobile industry for car refinishing paints. Consequently, the expanding automotive sector is anticipated to increase demand for crude sulfate turpentine and propel market expansion.
Crude Sulfate Turpentine is Used a Lot in Thinner:
The most common usage of crude sulfate turpentine is as paint thinner in decorative and domestic coatings. Turpentine was once used to light printer ink. Still, as industry demand has grown, it has started to be utilized as a diluent or solvent for various goods, including modified or natural binders, paints, resins, oils, and polishes.
Increasing Need for Crude Sulfate Turpentine in the Paint & Coatings Sector:
Various end-user applications for crude sulfate turpentine in the paint and coating sector, such as its use as binders or film formers in paints and coatings, are expected to drive the market's growth rate from 2023 to 2033.
During the forecast period, factors such as increasing paper production, rising demand for bio-friendly products across a variety of industries, availability of low-cost raw materials, and rising demand for fragrance ingredients, which previously primarily required crude sulfate turpentine—are anticipated to boost the market growth significantly.
Price fluctuations in raw materials:
The volatility of crude raw material prices affects the supply of raw materials to manufacturers, who are forced to boost the pricing of their crude sulfate turpentine to compensate for market losses. These key factors impede crude sulfate turpentine demand and limit market expansion.
Buy this Report now at a Discounted price @ https://www.futuremarketinsights.com/checkout/2890
Regional Outlook:
Due to the existence of significant exporters, North America has become a prominent regional crude sulfate turpentine market. It continues to hold a hegemonic status.
Europe had a substantial market share and is expected to grow. The strong demand for natural ingredients in cosmetics and personal care products fuels this trend. Strong personal care manufacturing bases may be found in nations like the United Kingdom, France, and Germany, which suit the crude sulfate turpentine industry.
The rapidly expanding regional market in the Asia Pacific is driven by rising consumer demand for cosmetics and personal care products in developing nations like China and Japan. China, the world's top turpentine producer, uses indigenous production facilities to meet a sizable amount of its domestic crude sulfate turpentine demand.
Key Takeaways:
- The United States might increase its market share by 18.7% between 2023 and 2033.
- Between 2023 and 2033, Germany may hold 3.0% of the crude sulfate turpentine industry.
- Japan's share of the crude sulfate turpentine industry could reach 3.3% between 2023 and 2033.
- Australia to hold a 2.7% share of the crude sulfate turpentine market from 2023 to 2033.
- During the forecast period, China crude sulfate turpentine business to expand at a CAGR of 7.4%.
- From 2023 to 2033, the United Kingdom crude sulfate turpentine industry registered at a 17.7% CAGR.
- Through 2033, the Indian crude sulfate turpentine market is likely to record a CAGR of 3.6%.
- The alpha-Pinene segment of the product type category is predicted to have a market share of 52.6% by 2033.
- The oil segment is to hold a heavy market share of 89.9% in the form category between 2023 and 2033.
- The Beta-Pinene segment is to acquire a substantial market share of 18.8% in the product type category between 2023 and 2033.
- The Sulfate Distilled sector to grab a significant market share of 63% in the processing category between 2023 and 2033.
Ask Our Analyst More about this Market Report @ https://www.futuremarketinsights.com/ask-question/rep-gb-2890
Competitive Landscape:
The crude sulfate turpentine manufacturers are drastically lowering manufacturing costs while maintaining sustainability by using renewable feedstock and renewable leftovers from other industries as beginning raw materials. The main goal of the new competitors is to offer a successful method of rectifying crude sulfate turpentine.
In addition to applying biotechnology to create hybrid trees and improved forest management practices to generate crude sulfate turpentine, producers are concentrating on sourcing sustainable raw materials.
Novel Advancements:
1. Acquisition
In May 2022, Weyerhaeuser Company successfully acquired 80,800 acres of timberlands in North and South Carolina for US$ 265 million.
2. Partnership
In May 2022, Kraton Corporation partnered with Tree-Nation to plant pine trees, emphasizing their commitment to sustainability and offsetting CO2 emissions.
Key Segmentation:
By Product Type:
- Alpha-Pinene
- Beta-Pinene
- Camphene
- Limonene
- 3-Carene
- Terpinolene
By Source:
- Powder
- Oil
By Processing Method:
- Steam Distilled
- Destructively Distilled
- Sulfate Distilled
- Sulfite Distilled
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
- Others
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Liters) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Liters) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Liters) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Liters) Analysis and Forecast By Product Type, 2023 to 2033
To gain more insights into the market with a detailed table of content and figures, click @ https://www.futuremarketinsights.com/toc/rep-gb-2890
Top Reports Related To F&B Domain:
Encapsulated Sodium Bicarbonate Market Size: The encapsulated sodium bicarbonate market is projected to record a positive CAGR during the forecast period. Encapsulated sodium bicarbonate is primarily used as an agent that decreases stomach acids and is used in bakeries.
Tartrazine Market Share: The global tartrazine market is projected to reach a valuation of US$ 120 Million in 2022, with demand growing at a 7.0% CAGR over the forecast period.
Sodium Phosphate Market Trend: The global sodium phosphate market is projected to garner a revenue of about US$ 666.8 million by 2032, up from US$ 412.3 million in 2022.
Melaleuca Alternifolia Market Value: The melaleuca alternifolia market is anticipated to achieve a CAGR of 7.4% through 2032 and is expected to reach a value of US$ 48 Million in 2022. By 2032, the melaleuca alternifolia market size is projected to increase to US$ 98 Million.
Calcium Gluconate Market Sale: In 2022, the global calcium gluconate market is estimated at US$ 92.2 Million. The market is likely to reach nearly US$ 178.34 Million by 2032, with a growing CAGR of 6.8% from 2022 to 2032.
Ferulic Acid Market Forecast: The global ferulic acid market size reached a valuation of US$ 67.8 Million in 2022. The overall sales of ferulic acid are projected to grow at a robust CAGR of 6.74% between 2022 and 2032, totalling around US$ 130.1 Million by the end of 2032.
Glucose Oxidase Market Opportunity: The glucose oxidase market is anticipated to reach a market size of US$ 6543.7621 million in 2022. This market has a massive growth opportunity owing to increasing demand from different industries.
Sodium Stearoyl Lactylate Market Growth: The global sodium stearoyl lactylate market is projected to reach US$ 309.3 Million in 2022 and exhibit growth at a steady CAGR of 7.1% from 2022 to 2032. The market is expected to be valued at US$ 498.7 Million in 2032.
Ascorbic Acid Market Demand: The global ascorbic acid market is expected to witness a CAGR of 6.2% over the estimated time frame (2022 to 2032). The value of the market is predicted to surge from US$ 176.8 Million in 2022 to US$ 321.5 Million in 2032.
Sodium Malate Market Overview: As per detailed industry analysis, the global sodium malate market is projected to increase at a CAGR of 4.0% and reach a valuation of US$ 898.6 million by the year 2033.
About Future Market Insights (FMI):
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of the Clutch Leaders Award 2022 on account of a high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube
