Asia Pacific Crude Sulfate Turpentine Market By Type (Alpha Pinene, Beta Pinene, Delta 3 Carene, Camphene, Limonene) By Application (Aromatic Chemicals, Adhesives, Paints And Printing Inks, Camphor), and By Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC) – Industry Size, Share, Trends, Growth, Forecast 2023 – 2028

Updated On: January, 2024
ID: 2465
Pages: 134

Asia Pacific Crude Sulfate Turpentine Market Size Analysis 2023 - 2028:

Asia Pacific Crude Sulfate Turpentine Market size was worth USD 58.85 million in 2022 and estimated to be growing at a CAGR of 4.22%, to reach USD 72.37 million by 2028. The market is showcasing evident potential in the mentioned forecasting period.

Market Overview:

Crude sulfate turpentine earned a huge reputation in the recent past as the demand for fragrance ingredients is escalating which requires crude sulfate turpentine derivatives; also, customers are inclined towards more eco-friendly products and crude sulfate turpentine is the exact answer to that. Also, the very same is the case of detergents, perfumes, and soaps.

Crude sulfate turpentine is like feedstock for the manufacturer who produces flavorings, fragrances, polymer additives pinenes, turpentine oil, and pine oil. The technology follows the extraction of terpene hydrocarbon vapors from digester and evaporators and later separating them from turpentine water. Turpentine is a commercial fuel source and an alternative fossil fuel in applications such as furnaces, lamps, industrial boilers, and rocket fuels. Extraction of Turpentine oil is done from oleoresin which is collected from a tree.

Recent Developments in Asia Pacific Crude Sulfate Turpentine Market:

  1. As demand from the electric vehicle (EV) sector continues to accelerate, nickel sulfate production is expected to increase from 211 kilotons (Kt) in 2019 to its peak of 450 Kt in 2027, reaching around 800 Kt by 2035. 
  2. Azelis, a leading distributor of specialty chemicals and food ingredients, was pleased to announce that it has signed an agreement to acquire 100% of the outstanding shares of Megafarma, a leading specialty distributor in Mexico for the pharmaceutical, food, and veterinary industries. Headquartered in Mexico City, the company represents some of the most recognized raw material producers in the world and serves a large number of clients in all regions of Mexico. The integration of Megafarma will allow Azelis to access a promising market and create a solid platform for the growth of the global distribution business of specialty chemicals and food ingredients.
  3. Huntsman Corporation (NYSE: HUN) announced that the European Commission has approved the previously announced acquisition of Rockwood Holdings, Inc.'s Performance Additives and Titanium Dioxide (TiO2) businesses. Commission approval is subject to the sale of the Huntsman business associated with a product known as TR52 sold primarily in ink applications.
  4. Ingevity Corporation signed a deal with Georgia-Pacific to purchase the latter’s pine chemicals business for an estimated value of USD 315 million. The acquisition is subject to certain regulatory approvals and other customary closing conditions. Ingevity expects to complete the transaction by the end of 2017. 
  5. Kraton Performance Polymers, a leading producer of styrene block copolymers, agreed to acquire pine chemical manufacturer Arizona Chemical from private equity firm American Securities for a cash price of $ 1.37 billion. The transaction values Arizona Chemical at 7.4 times Adjusted EBITDA for the 12 months ended June 30. Arizona Chemical's products are based on two main raw materials, crude tall oil and crude sulfate turpentine, both co-products of wood pulp.

Drivers and Restraints:

The growth of the Asia Pacific crude sulfate turpentine market is attributed to the broader scope of applications for aromatic chemicals and household and personal care products. Also, the growing demand for products in Asia-Pacific is likely to stimulate market development. The shift in preference towards environmentally friendly CST derivatives as substitutes for petrochemical derivatives should boost the industry. Crude sulfate turpentine, a by-product obtained in the pulping process, can be purchased at a fixed price based on annual or semi-annual contracts. Manufacturers source their supplies directly from factories. It is a volatile amber liquid that offers important products, including alpha and beta pinenes, which are the building blocks of several natural flavors and fragrances.

In addition, these products react with polyterpenes, which are used in adhesives, specialty inks, electronic solvents, vitamins, pharmaceuticals, disinfectants, and other products. The concentration of products varies with the change of geographic areas due to the variation of the genus Pinus in pine. Manufacturers focus on sourcing sustainable raw materials through an efficient manufacturing process. They resort to renewable biological content for the manufacture of the product. For example, Kraton inherently implements a high bio-renewable content (BRC) by maintaining the overall performance of the tires produced. 

The use of crude sulfate turpentine by manufacturers is limited due to the large investment required in its distillation. This could be a major restraining factor for the market. The limited recovery of black liquor through the Kraft process is also expected to hamper overall product growth.

Asia Pacific Crude Sulfate Turpentine Market Segmentation Analysis:

The Asia-Pacific market for Crude sulfate turpentine is broadly categorized by Type (Limonene, Alpha Pinene, Camphene, Beta Pinene, Delta 3 Carene) and by Application (Adhesives, Aromatic Chemicals, Paints and printing inks, Camphor).  Based on applications, aromatic chemicals accounts for the biggest market share because of the high use of crude sulfate turpentine in the FMCG industry such as soaps, air fresheners, and deodorants. On the basis of product type, Delta 3 Carene is expected to be the fastest-growing segment due to the growing use of turpentine as a solvent for resins.


Impact of COVID-19 on Asia Pacific Crude Sulfate Turpentine Market:

Coronavirus has had an impact on their crude sulfate turpentine business. In addition, many countries in the Asia Pacific are experiencing a lockdown and government authorities have ordered social distancing to curb the transmission of the pandemic. As a result, both imports and exports in many countries have been limited or delayed since the outbreak. This poses a disadvantage for product providers, as their supply chain is not equipped to handle the increased demand.

Regional Analysis of the Asia Pacific Crude Sulfate Turpentine Market:

The Asia Pacific Crude Sulfate Turpentine has been divided by geography into China, Taiwan, South Korea, India, Japan, Australia, and New Zealand, and the rest of the Asia-Pacific. Countries such as China, India and South Korea will be the main contributors to the growth of the Asia Pacific crude sulfate turpentine market. In recent years, for reasons such as economic policy reform and development plans, the Asia Pacific region has experienced strong growth in the establishment of various large and small-scale goods-producing industries that will consume a large amount of crude turpentine sulfate. Demand will trigger the growth of the crude sulfate turpentine market. The North America and Western Europe region will come after the Asia Pacific when it comes to crude turpentine sulfate market growth. Although they are next to the Asia Pacific, these regions are the first to introduce crude sulfate turpentine for various manufactures.

Leading Company

Renessenz LLC had the largest share of the Asia Pacific Crude Sulfate Turpentine Market in terms of sales and revenue in 2020.


Key Players in the Market:

Major Key Players in the APAC Crude Sulfate Turpentine Market are

  • Pine Chemical Group
  • Dujodwala Paper Chemicals Ltd
  • Arizona Chemical Company LLC
  • Lawter Inc
  • Renessenz LLC
  • International Flavors & Fragrances Inc
  • Privi Organics Limited
  • HARTING Technology Group
  • Derives Resiniques et Terpeniqes

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