Crude Sulfate Turpentine Market To Grow At A CAGR Of 3.5% To Reach USD 806.2 Million By 2025 | Grand View Research, Inc.

March 09 11:24 2021
Crude Sulfate Turpentine Market To Grow At A CAGR Of 3.5% To Reach USD 806.2 Million By 2025 | Grand View Research, Inc.

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An expansive study by Grand View Research for the crude sulfate turpentine market has projected a stable industry growth in coming years, aided by the high demand from flavor and fragrance manufacturers. The report takes into account the impact of the COVID-19 pandemic on the industry, which has created various supply chain disruptions for renewable chemicals.

The global crude sulfate turpentine market size is projected to reach USD 806.2 million by 2025, as per a study conducted by Grand View Research, Inc. The industry is expected to advance at 3.5% CAGR over the forecast period. The rising product penetration in aroma chemicals is anticipated to act as the major market driver over the coming years. The product is used extensively in personal care and home care items, as it caters primarily to the flavors and fragrances space. Increasing preference towards bio-based products owing to superior advantages over their synthetic counterparts is expected to augment the demand through 2025. Major industry participants are shifting towards high bio-renewable content products to ensure superior performance across end-use applications.

Crude sulfate turpentine (CST) is a derivative of turpentine that is obtained as a byproduct from the Kraft process, and consists of terpene hydrocarbons along with miscellaneous sulfur compounds. Besides being utilized in cosmetics, and food and beverage products, CST has also found widespread use as a solvent during the production of varnishes, as well as thinning of oil-based paints. Increasing demand for natural products in the areas of flavor and fragrance will fuel the segment growth further over the forecast period. Rising product usage as a feedstock during the manufacturing of polymer additives, turpentine oil, pine oil, and pinenes is expected to be another avenue for market growth. Some of the major products in the crude sulfate turpentine industry include carene, terpineol, camphor, beta-pinene, pure-alpha pinene, pinane hydroperoxide, limonene, and terpene resins. 

Crude Sulfate Turpentine Market Highlights

• The volume demand for the crude sulfate turpentine market globally is anticipated to reach 220.8 kilotons by 2025, advancing at an estimated CAGR of 2.1% during this period

• Crude sulfate turpentine, also known as sulfate wood turpentine, is a flammable fluid that is insoluble in water, and is obtained through resin distillation from live trees, especially pines

• In terms of revenue, carene is projected to ascend at a CAGR of 4% over the forecast period, as it has witnessed a continued increase in usage as raw material in perfumes, flavors, cosmetics, and terpene resin production

• Aroma chemicals application segment led the global CST market in 2018, as the continued increase in consumer demand for naturally-sourced flavors and fragrances has compelled manufacturers to turn their attention towards the product

• Asia Pacific is projected to witness the fastest CAGR over the forecast period in the CST market, owing to rising preference for naturally extracted cosmetics and personal care products in major economies such as Japan and China

• Industry players strive to dominate the market through strategies such as partnerships, mergers and acquisitions, as well as new product launches. For example, in May 2020, Firmenich completed the acquisition of DRT, which specializes in the manufacture and supply of high quality, natural ingredients, in the flavor and fragrance sector

• Data released by Pine Chemical Group for 2020 shows that the volume supplied of their products, which include crude tall oil, tall oil rosin, pulp, paper packaging, and crude sulphate turpentine, was 17,319 metric tons, of which more than 11% was accounted by CST.

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Crude Sulfate Turpentine Market Segmentation

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

Crude Sulfate Turpentine Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2014 – 2025)

    • North America
        • U.S.
        • Canada
        • Mexico
    •Europe
        • Finland
        • Russia
        • Sweden
        • France
    • Asia Pacific
        • China
        • Japan
        • Australia
    • Central & South America
        • Brazil
    • MEA
        • South Africa

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About Grand View Research

Grand View Research is a market research and consulting company based in India and the US, and headquartered in San Francisco. The organization offers syndicated and customized research reports in 46 industries across 25 major global economies.

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