Crude sulfate turpentine market players are shifting their focus towards emerging economies that are fast becoming opportunity hotbeds for various factors. Crude sulfate turpentine companies are implementing robust go-to-market strategies such as collaborations, partnerships, mergers, and divestitures in addition to focusing on organic growth. FMI projects global crude sulfate turpentine products volume to rise at 4.8% CAGR through 2031.
What is 2021-2031 Growth Forecast in Comparison to 2016-2020 Crude Sulfate Turpentine Market Outlook?
Key players in global crude sulfate turpentine market are focusing on strategic collaborations with local distributors to reach large consumer base in emerging countries. Increasing demand for cosmetics and personal care products is creating opportunities for new players in Asia Pacific for crude sulfate turpentine market.
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Revenue from the sales of personal care products and natural ingredients has been forecast to increase substantially in countries like China, India, Japan and Southeast Asia over the period. Driven by this, Future Market Insights projects the crude sulfate turpentine market to remain steady, exhibiting growth at 5.4% CAGR between 2021 and 2031 in comparison to the CAGR of 4.1% posted between 2016 and 2020.
Among product types, alpha-pinene, being the primary chemical constituent of cypress, rosemary, juniper berry, frankincense and helichrysum essential oils, is being widely used in the cosmetics industry. It also offers a range of benefits for skin and oral health and support immune and respiratory system functions. It can
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Why is Crude Sulfate Turpentine Gaining Traction as a Solvent or Cleaning Agent for Paints and Varnishes?
Crude sulfate turpentines are most widely used as paint thinner in both household and artistic coatings. Turpentine was used before to dilute printer’s ink. Now with growing demand from industries, it has become a solvent or diluent for various products, like natural or modified binders, resins, oils, paints and polishes.
In other oil-based paint and coating formulations, peroxidation of terpenes derived from turpentine accelerates drying of oils and other film formers. All these factors are making crude sulfate turpentine a key ingredient in paints and varnishes.
How is Demand in Pharmaceutical Industry Driving Crude Sulfate Turpentine Sales?
Being a powerful bronchodilator, alpha-pinene type of crude sulfate turpentine is found in essential oils industry distinctly. It is highly bioavailable, shows effectiveness in human pulmonary uptake, and can be metabolized quickly. It also acts as a supplement in many dementia drugs by inhibiting cholinesterase and enhancing cholinergic activity, when used only in small concentrations.
Drugs that have alpha-pinene constituent are sometimes administered to protect pancreas and lungs against infection. Alpha-pinene can reduce the production of TNF-alpha, which is the pancreatic tumour necrosis factor. Also, it can inhibit some cell deaths hence it may be used for treatment in pancreatic cancer. These factors are boosting the use of crude sulfate turpentine in pharmaceutical industry.
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Did FDA Approval of Turpentine in Different Industries Help in Driving Crude Sulfate Turpentine Sales in the U.S.?
According to FMI, the U.S. is a dominant market for crude sulfate turpentine and it is also expected to exhibit high growth over the forecast period. According to the latest study, sales in the U.S. is estimated to account for more than 94.2% of the North America market in 2021.
As FDA approved turpentine spirits and listed it as an active ingredient in various drug products formulations, it unfolded scope for increasing application of crude sulfate turpentine products in pharmaceutical industry. It is being used for nasal drug products, cold and fever treatments, expectorant drug products, oral menstrual drug products, drug products related to insect bites and more.
Crude sulfate turpentine also has emerged as an ingredient used in food applications. It has been listed as a natural flavoring substance by FDA and its use also is allowed in adhesives for food packaging.
Terpene resins and hydrocarbons can be used in polypropylene or polyolefin films for use in food packaging industry. Surging applications across diverse industries will continue pushing sales in the U.S.
Which Product Type of Crude Sulfate Turpentine is in High Demand?
Alpha-pinene and beta-pinene are employed as anti-inflammatory agent and flavoring agents. They are expected to account for 52.6% and 18.8% of the overall market respectively in 2021. Use of alpha-pinene is rising in skin care products, while beta-pinene is being explored for a wide range of medical and health benefits.
Alpha-Pinene and beta-pinene also are used in the flavor industry. Their application to synthesis terpineol, linalool, and other sandalwood fragrances is rising as well. They are used for flavoring of daily chemicals as well.
Brands often use alpha-pinene and beta-pinene as a flavoring agent commercially and in oil diffusers. Not only the flavor profile of alpha-pinene is sharp with hints of cedarwood and pine, but it displays unique therapeutic effects also which contributes entourage effects of cannabis-based medicinal extracts.
Manufacturers are not limited to only natural medicines when it comes to crude sulfate turpentine application. Being flexible in synthesis of polymers; they are often used for producing better quality polymers. Pinenes safety profile is also considered outstanding, thus allowing their usage in several chemicals, considered as Generally Recognized As Safe (GRAS).
Ongoing trend of using ingredients derived from renewable sources in various applications and rising cognizance among consumers about the use of crude sulfate turpentine in pharmaceuticals are pushing the demand in global market. Consumers are becoming more aware about the product, which is encouraging the manufacturers to focus more on the market.
- Kraton Corporation has gained momentum in the market despite of COVID-19 induced challenges and has became one of the prominent manufacturers and suppliers of crude Sulfate turpentine with a significant share. They now serve more than 800 customers in over 70 countries worldwide across a diverse range of end markets.
- In 2017, Ingevity Corporation announced it for an agreement with Georgia-Pacific worth US$ 315 Mn while acquiring Georgia-Pacific’s pine chemicals business. The acquisition is subject to certain regulatory approvals and other customary closing conditions.
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By Product Type:
By Processing Method:
- Printing Industry
- Printer’s Ink
- Veterinary Medicine
- Stimulant Diuretic
- Cosmetics and Personal Care
- Cosmetics Products
- Massage oils and Aromatherapy
- Tires Industry
- Plastic industry
- Rubber Industry
- North America
- Latin America
- South Asia
- East Asia