During the forecast period, the global market for crude sulphate turpentine is expected to grow at a moderate CAGR of 4%. (2019-2027). Due to rising demand for bio-friendly products, the crude sulphate turpentine market is likely to rise significantly.
By the end of the projection year, the global crude sulphate turpentine market is expected to be worth more than US$ 600 million (2019- 2027). The transformation of the crude sulphate turpentine market from a subsistence-based paradigm to an agribusiness one involving agricultural and farming-related commercial activities is responsible for its expansion. Business owners in several countries, including Brazil and Argentina, are leasing land to cultivate plantation woods for the manufacture of crude sulphate turpentine.
Due to its product penetration in scent chemicals, flavour chemicals, personal care, and home care goods, global crude sulphate turpentine production increased to over 200,000 tonnes in 2019. Furthermore, the crude sulphate turpentine market is based on the use of biomass resources to develop long-term, high-value products. In light of this, the crude sulphate turpentine market is expected to grow at a moderate CAGR of 4% from 2019 to 2027.
Crude Sulfate Turpentine Market: Key Segments
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Crude Sulfate Turpentine Market: Key Takeaways
- In North America, crude sulphate turpentine accounts for more than 90% of total turpentine output.
- Due to its higher volume after the kraft pulping process, alpha-pinene is the main sector with over 60% market share.
- Europe now leads the world in crude sulphate turpentine imports, with China becoming as the leading source worldwide.
- With a market share of more than 55 percent, North America dominates the crude sulphate turpentine sector. Paints and aromatic compounds, which are the primary users of crude sulphate turpentine, can be attributed with strong growth.
- Due to an increased inclination for natural products in the region, Asia Pacific is expected to develop at a CAGR of around 6.0 percent over the projection period.
- Some of the restraints on the worldwide crude sulphate turpentine market are the availability of less expensive petroleum-based products and decreasing paper mill production.
“Despite the high cost of the distillation process, the global crude sulphate turpentine market is experiencing maximum traction, with downstream applications moving towards aroma compounds and adhesives,” according to Fact.MR expert
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