The North America Crude Sulfate Turpentine Market was worth USD 81.49 million in 2022 and estimated to be growing at a CAGR of 4.35%, to reach USD 100.83 million by 2028. The North America Crude Sulfate Turpentine Market is showcasing evident potential in the mentioned forecasting period.
Crude sulfate turpentine is becoming quite famous in recent years as the demand for fragrance ingredients is increasing which requires crude sulfate turpentine derivatives; consumers are getting inclined towards more eco-friendly products and crude sulfate turpentine is a welcome substitute to petrochemicals. Also, the very same is getting reflected in the case of perfumes, detergents, and soaps.
Crude sulfate turpentine acts like feedstock for the manufacturer who produces flavorings, polymer additives pinenes, pine oil, fragrances, and turpentine oil. The technology includes extraction of terpene hydrocarbon vapors from digester and evaporators and later getting it separated from turpentine water. Turpentine is being used as a commercial fuel source and an alternative to fossil fuels in applications such as furnaces, industrial boilers, lamps, and rocket fuels. Extraction of Turpentine oil is done from oleoresin which is collected from a tree.
Rise in the production of chemical products from turpentine which is used in various forms, such as fragrance agent, solvent and flavor is expected to fuel the market growth. Additionally, the market is observing increased growth due to the rise in demand for bio-friendly products and high consumption of household products and personal care. However, some factors are hindering in the growth of Crude sulfate turpentine market; like decreasing consumption of the products produce from crude sulfate turpentine along with decreasing paper mill production and availability of less expensive petroleum based products.
The North America market for Crude sulfate turpentine is broadly categorized by Type (Camphene, Limonene, Alpha Pinene, Beta Pinene, Delta 3 Carene) and by Application (Adhesives, Aromatic Chemicals, Paints and printing inks, Camphor). Based on applications, aromatic chemicals accounts for the largest market share because of the high use of crude sulfate turpentine in FMCG products such as air fresheners, soaps, and deodorants. On the basis of product type, Delta 3 Carene is anticipated to be the fastest-growing segment due to the increasing use of turpentine as a solvent for resins.
The North America Crude Sulfate Turpentine market has been categorized by geography into the United States, Canada, Mexico, and the Rest of the locale. North America has become the largest regional market in the past due to the presence of major exporters. The region is expected to maintain its dominance over the predicted years due to the high demand for natural ingredients in cosmetics and personal care products. The presence of a strong manufacturing base for personal care products in countries such as the US is touted to be a driver for the local market.
Renessenz LLC had the largest share of the North America Crude Sulfate Turpentine Market in terms of sales and revenue in 2020.
Key Players in the Market:
Major Key Players in the North America Crude Sulfate Turpentine Market are
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