Rockville , Nov. 14, 2023 (GLOBE NEWSWIRE) -- The global crude sulfate turpentine market is estimated at US$ 592 million in 2024, as per a study published by Fact.MR, a market research and competitive intelligence provider. Worldwide demand for crude sulfate turpentine oil is projected to increase at 5.1% CAGR from 2024 to 2034. Rising demand for bio-friendly products in several industries is set to contribute to the growing sales of crude sulfate turpentine over the coming years.
Demand for crude sulfate turpentine is forecasted to increase owing to its importance in myriad applications, including thinners, adhesives, and solvents in the chemical industry. As a byproduct of pulp manufacturing, it is purchased by several end-use industries for a six-month or annual contract at a fixed price that shields them from fluctuation in raw material prices.
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Suppliers of crude sulfate turpentine are focusing more on several emerging countries to become hotspots in the global market. It is used extensively in artistic and household coatings as a paint thinner. Moreover, it is also used as a diluent or solvent for multiple products, including modified or natural binders, oils, paints, polishes, and resins.
| Report Attribute | Details |
| Value Projection (2034) | US$ 974 Million |
| Growth Rate (2024-2034) | 5.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 90 Tables |
| No. of Figures | 72 Figures |
Key Takeaway from Market Study
- Worldwide demand for crude sulfate turpentine reached a market value of US$ 563.1 million in 2023.
- The global crude sulfate turpentine market is estimated at US$ 592 million in 2024.
- The market is set to reach US$ 974 million by the end of 2034.
- Sales of crude sulfate turpentine are predicted to advance at 5.1% CAGR from 2024 to 2034.
- Alpha-pinene held 52.7% share of global market revenue in 2023.
- North America accounted for 50% of global market share in 2023.
“Increasing demand for crude sulfate turpentine from several industries, including beauty & cosmetics, perfumes & fragrances, and others, is predicted to generate revenue streams for players,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- DRT
- Stora Enso OYJ
- Arizona Chemicals
- Kraton Corporation
- Pine Chemical Corporation
- Stora Enso
- Takasago International Corporation
- Symrise
- Metsa Fibre
- Torgoviy Dom Lesokhimik
- West Rock
Extensive Adoption of Alpha-pinene in End-use Industries
Alpha-pinene is used widely in adhesives, paints, aromatic chemicals, and inks for printing purposes. Use of alpha-pinene in the printing industry accounted for 60% share of global market revenue in 2023.
As one of the key ingredients in drug manufacturing, alpha-pinene is used to treat several diseases, including arthritis, different sclerosis, and Crohn’s disease. In addition, it is also used significantly in several personal care products. Moreover, its adoption in fragrances and perfumes as an artificial odorant is predicted to generate revenue streams.
For instance:
- DRT entered into an agreement with Quimidroga in 2019 for increased distribution and marketing of chemical alpha-pinene in Africa and Europe.
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Competitive Analysis:
Leading crude sulfate turpentine manufacturers are investing substantially in the efficient management of supply chain systems, new developments, ensuring quality control of products, etc. Collaborations, acquisitions, etc., are some prominent strategies adopted by key players to earn a competitive edge.
For instance :
- Weyerhaeuser Company, in May 2022, acquired 80,800 acres of timberlands with many pine trees in South and North Carolina. Campbell Global helped the company with a US$ 265 million fund for this acquisition.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the crude sulfate turpentine market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (alpha-pinene, beta-pinene, limonene, camphene, 3-carene, terpinolene), source (oil, powder), processing method (steam-distilled, destructively-distilled, sulfate-distilled, sulfite-distilled), and application (printing, veterinary medicines, cosmetics & personal care, tires, plastics, rubber), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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