세계의 CST(Crude Sulfate Turpentine) 시장 예측(-2030년) : 제품별, 공급원별, 가공 방법별, 용도별, 최종사용자별, 지역별 분석

According to Stratistics MRC, the Global Crude Sulfate Turpentine Market is accounted for $827.3 million in 2023 and is expected to reach $1203.5 million by 2030 growing at a CAGR of 5.5% during the forecast period. Crude sulfate turpentine, a natural product derived from the distillation of pine tree resin, holds various industrial and commercial uses. Primarily composed of terpenes like alpha-pinene and beta-pinene, it serves as a solvent in paint and varnish production, contributing to their viscosity and drying properties. Its antiseptic qualities find application in medicinal products, especially in traditional remedies and liniments. Additionally, it serves as a raw material in the synthesis of fragrances, flavours, and chemical intermediates. Despite its pungent odour and potential irritant properties, its versatility and renewable sourcing make it a valuable component in multiple sectors, from pharmaceuticals to perfumery.

Market Dynamics:

Driver:

Growing utilization of household & personal care products

Household and personal care products often utilize crude sulfate turpentine and its derivatives as ingredients due to their solvency, fragrance, and antimicrobial properties. Moreover the growing demand for household and personal care products, particularly in emerging markets with rising disposable incomes and changing consumer preferences, presents significant growth opportunities for crude sulfate turpentine producers and suppliers. Expanding into new geographic regions and market segments can drive market expansion and revenue growth.

Restraint:

Fluctuations in raw material prices

Fluctuations in raw material prices can lead to cost volatility for crude sulfate turpentine producers. Since wood is a primary raw material for the sulfate pulping process, changes in wood prices due to factors such as supply disruptions, changes in demand, or market speculation can directly impact the production cost of crude sulfate turpentine. Additionally crude sulfate turpentine producers facing higher raw material costs may be at a competitive disadvantage compared to competitors with lower production costs or alternative raw material sources. This can erode market share and profitability, especially if competitors can offer similar products at lower prices.

Opportunity:

Surge in demand from high aroma chemicals application

The surge in demand for high aroma chemicals can spur technological innovation and process improvements in the production of crude sulfate turpentine and its derivatives. Producers may invest in research and development to optimize extraction, purification, and synthesis techniques, resulting in higher-quality products and increased competitiveness and suppliers may explore expansion opportunities, invest in capacity upgrades, or enter into strategic partnerships to capitalize on the rising demand and expand their market presence.

Threat:

Competition from alternative products

Competition from alternative products may lead to a loss of market share for crude sulfate turpentine, particularly in industries where customers prioritize factors such as cost, performance, or environmental sustainability. Turpentine producers may struggle to retain customers or attract new business in the face of stiff competition from alternatives. This uncertainty may deter investment in capacity expansion, research and development, or other strategic initiatives, limiting the growth potential of the market.

Covid-19 Impact

The outbreak of the COVID-19 pandemic overall the globe has adversely affected the global crude sulfate turpentine market to a great extent. The demand for the products from several industries has gone down steeply during the pandemic. This has caused decline in demand for crude sulfate turpentine in from various industries. The complete shutdown in many countries has affected the global electronics market and severely impacted the demand for crude sulfate turpentine in the market.

The alpha-pinene segment is expected to be the largest during the forecast period

The alpha-pinene segment is estimated to have a lucrative growth, owing to the presence of alpha-pinene enhances the value and versatility of crude sulfate turpentine, driving demand for turpentine-based products across multiple industries. Manufacturers often seek crude sulfate turpentine with high alpha-pinene content due to its desirable properties and performance in applications such as solvent extraction and chemical synthesis.

The destructively distilled segment is expected to have the highest CAGR during the forecast period

The destructively distilled segment is anticipated to witness the highest CAGR growth during the forecast period; destructive distillation can yield a range of products, including turpentine, charcoal, and various chemicals. If there is a significant increase in the production of destructively distilled products, it could potentially impact the supply of crude sulfate turpentine. Depending on the balance of supply and demand, this could lead to fluctuations in turpentine prices and market dynamics.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period Crude sulfate turpentine in the Asia Pacific region is used in a wide range of industrial applications, including paints, coatings, adhesives, printing inks, fragrances, and pharmaceuticals. The region's growing industrialization, construction activities, and expanding manufacturing sectors contribute to the demand for turpentine-based products. The region's rapid urbanization and infrastructure projects drive demand for construction materials and related products, including paints and coatings, which utilize turpentine derivatives.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, factors influencing the North American crude sulfate turpentine market include the overall demand for industrial solvents, trends in the paper industry, regulatory policies affecting chemical production and usage, as well as the availability and pricing of alternative solvents and raw materials. Additionally, environmental concerns and sustainability initiatives may impact the market dynamics and drive innovation in the production and usage of turpentine and its derivatives.

Key players in the market

Some of the key players in the Crude Sulfate Turpentine Market include ACURO Organics Limited, Aurora Fine Chemicals, Derives Resiniques et Terpeniqes, Dujodwala Paper Chemicals Ltd., International Flavors & Fragrances Inc., Kraton Corporation, Lawter, Millennium Specialty Chemicals Inc., Pine Chemical Group, PInova, Inc, Privi Speciality Chemicals Limited, Qingshuiyuan Technology CO., Ltd., Renessenz LLC, Salicylates and Chemicals Pvt. Ltd, Stora Enso, Weyerhaeuser Company and Zouping Dongfang Chemical Co., Ltd.

Key Developments:

In April 2024, Kraton Corporation announces its participation in the upcoming NPE2024 show, a prestigious gathering of industry leaders and creative thinkers worldwide to drive exchange on innovations in the plastics industry.

In January 2024, IFF Partners with Environmental NGO Bellona to Restore Norwegian Seaweed Forests. The collaboration on the Norwegian Marine Restoration (NoMaRe) project aims to restore 5,000 square kilometers of seaweed forest by managing invasive sea urchin predation.

In August 2023, IFF Completes Divestiture of Flavor Specialty Ingredients Business. The forward-looking statements included in this release are made only as of the date hereof, and we undertake no obligation to update the forward-looking statement to reflect subsequent events or circumstances.

Products Covered:

• Alpha-Pinene
• Beta-Pinene
• Camphene
• Delta 3 Carene
• Limonene
• Other Products

Sources Covered:

• Powder
• Oil

Processing Methods Covered:

• Steam Distilled
• Destructively Distilled
• Sulfate Distilled
• Sulfite Distilled
• Other Processing Methods

Applications Covered:

• Paints
• Stimulant Diuretic
• Anthelmintic
• Carminative
• Expectorant
• Fragrances
• Cosmetics Products
• Massage oils & Aromatherapy
• Other Applications

End Users Covered:

• Printing Industry
• Veterinary Medicine
• Tires Industry
• Plastic industry
• Rubber Industry
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Product Analysis
• 3.7 Application Analysis
• 3.8 End User Analysis
• 3.9 Emerging Markets
• 3.10 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Crude Sulfate Turpentine Market, By Product

• 5.1 Introduction
• 5.2 Alpha-Pinene
• 5.3 Beta-Pinene
• 5.4 Camphene
• 5.5 Delta 3 Carene
• 5.6 Limonene
• 5.7 Other Products

6 Global Crude Sulfate Turpentine Market, By Source

• 6.1 Introduction
• 6.2 Powder
• 6.3 Oil

7 Global Crude Sulfate Turpentine Market, By Processing Method

• 7.1 Introduction
• 7.2 Steam Distilled
• 7.3 Destructively Distilled
• 7.4 Sulfate Distilled
• 7.5 Sulfite Distilled
• 7.6 Other Processing Methods

8 Global Crude Sulfate Turpentine Market, By Application

• 8.1 Introduction
• 8.2 Paints
• 8.3 Stimulant Diuretic
• 8.4 Anthelmintic
• 8.5 Carminative
• 8.6 Expectorant
• 8.7 Fragrances
• 8.8 Cosmetics Products
• 8.9 Massage oils & Aromatherapy
• 8.10 Other Applications

9 Global Crude Sulfate Turpentine Market, By End User

• 9.1 Introduction
• 9.2 Printing Industry
• 9.3 Veterinary Medicine
• 9.4 Tires Industry
• 9.5 Plastic industry
• 9.6 Rubber Industry
• 9.7 Other End Users

10 Global Crude Sulfate Turpentine Market, By Geography

• 10.1 Introduction
• 10.2 North America
  • 10.2.1 US
  • 10.2.2 Canada
  • 10.2.3 Mexico
• 10.3 Europe
  • 10.3.1 Germany
  • 10.3.2 UK
  • 10.3.3 Italy
  • 10.3.4 France
  • 10.3.5 Spain
  • 10.3.6 Rest of Europe
• 10.4 Asia Pacific
  • 10.4.1 Japan
  • 10.4.2 China
  • 10.4.3 India
  • 10.4.4 Australia
  • 10.4.5 New Zealand
  • 10.4.6 South Korea
  • 10.4.7 Rest of Asia Pacific
• 10.5 South America
  • 10.5.1 Argentina
  • 10.5.2 Brazil
  • 10.5.3 Chile
  • 10.5.4 Rest of South America
• 10.6 Middle East & Africa
  • 10.6.1 Saudi Arabia
  • 10.6.2 UAE
  • 10.6.3 Qatar
  • 10.6.4 South Africa
  • 10.6.5 Rest of Middle East & Africa

11 Key Developments

• 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 11.2 Acquisitions & Mergers
• 11.3 New Product Launch
• 11.4 Expansions
• 11.5 Other Key Strategies

12 Company Profiling

• 12.1 ACURO Organics Limited
• 12.2 Aurora Fine Chemicals
• 12.3 Derives Resiniques et Terpeniqes
• 12.4 Dujodwala Paper Chemicals Ltd.
• 12.5 International Flavors & Fragrances Inc.
• 12.6 Kraton Corporation
• 12.7 Lawter
• 12.8 Millennium Specialty Chemicals Inc.
• 12.9 Pine Chemical Group
• 12.10 PInova, Inc
• 12.11 Privi Speciality Chemicals Limited
• 12.12 Qingshuiyuan Technology CO., Ltd.,
• 12.13 Renessenz LLC
• 12.14 Salicylates and Chemicals Pvt. Ltd
• 12.15 Stora Enso
• 12.16 Weyerhaeuser Company
• 12.17 Zouping Dongfang Chemical Co., Ltd.