Crude Sulfate Turpentine Market Booming Trends and Forecast Assessment for the Period 2019 to 2027

CHEMICALS

Crude sulfate turpentine is a product which is derived from the process of distilling resins sourced from live tree species such as pines. The material acquired through such a process becomes a flammable liquid, which is insoluble in water, and is only dissolvable in select solvent, and is acquired only with the aid of catalysts and substrates.

Crude sulfate turpentine is made of a number of sulfur compounds and various terpene hydrocarbons, which are primarily found in plants from the group Pinopsida. Crude sulfate turpentine is extensively used in the development and production of flavors and fragrances, which find use in foods, beverages, and personal care products.

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The global crude sulfate turpentine market is expected to grow at a moderate CAGR of ~ 4 per cent through the end of the forecast period in 2027. This growth is largely attributed to the higher demand for bio-friendly products, in the wide range of end-use applications including thinners, solvents, and adhesives for the chemical industry.

Biotech is Key to New Developments in Industry

A large portion of the crude sulfate turpentine market is consolidated. Major players such as Stora Enso, DRT, Arizona Chemicals, Pine Chemical Corporation, and Kraon Corporation, are increasingly pushing to include renewable by products and feedstock from other industries for the production of offerings, with the aim of making substantial cuts to costs, while also keeping up with sustainability goals.

On the other hand, emerging players in the market are pushing operations for bolstering efficiency in rectification processes to create grounds for penetration into the international crude sulfate turpentine market.

Manufacturers are also investing in biotechnology advancements and the sourcing of sustainable raw products, which includes management of hybrid trees and forest management methods for raw material requirements. For instance, researchers have found ways to genetically modify trees to release greater amounts of resin, while others are making use of cloning technologies to ensure superior capital flow from end use FMCG companies.

The increasing shortage of pine-derived chemicals, and the gap with the demand is pushing end use industries to choose alternatives, which are manufactured synthetically to meet their needs, which restricts the growth of the market.

North America Dominates as Healthcare Applications Gain Traction

North America is currently the largest regional crude sulfate turpentine producer in the world accounting for ~ 50 per cent of market share. This trend is expected to continue through the forecast period.

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The trend is further supported by the growing number of bio-refineries in the region, even as Europe contributes substantially to the demand for crude sulfate turpentine, owing to the strong customer preference for all natural personal care and cosmetics products. Further, the growing demand for cosmetics from China and Japan are making the Asia Pacific region the fastest growing market.

Alpha-pinene is an aromatic variant of crude sulfate turpentine, which while widely used in chemicals and inks is also increasingly being used in treatments of ailments such as multiple sclerosis, Chron’s disease, and arthritis, which is rapidly gaining traction in countries with fast economic growth and larger populations.

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