Crude Sulfate Turpentine Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

Crude Sulfate Turpentine Market

The global crude sulfate turpentine market size was worth around USD 560.8 million in 2022 and is predicted to grow to around USD 850.9 million by 2030 with a compound annual growth rate (CAGR) of roughly 5.35% between 2023 and 2030.

Global Crude Sulfate Turpentine Market: Overview

A chemical compound that is burned for energy recovery is crude sulfate turpentine. It is extracted while processing of kraft wood pulping and further is sold as a commodity. In this process, cellulose fiber is allowed to separate and then used in manufacturing paper. Crude sulfate turpentine acts as a fuel, which includes organic compounds such as beta-pinene, alpha-pinene, and other terpenes. Production of the crude sulfate turpentine is done by using technology. Terpene hydrocarbons vapors are extracted from evaporators and digester and further it is separated from turpentine water. Crude sulfate turpentine plays a role of feedstock for the manufacturing of products that are involved in the production of polymer additives, turpentine oil, pinenes, flavorings, fragrances, and pine oil. Turpentine oil is extracted from oleoresin, which is collected from a tree.

Global Crude Sulfate Turpentine Market: Growth Factors

Owing to high consumption of household and personal care products, the global crude sulfate turpentine market is expected to boost in future. The growth in the crude sulfate turpentine is due to rising demand for bio-friendly products in many industries. List of the chemical products is made from turpentine is long; however, it is extensively used as fragrance agent, solvent, and flavor; these are some important factors that are anticipated to boost the global market growth. However, reduced consumption of crude sulfate turpentine products, availability of less expensive petroleum-based products, less recovery of black liquor from kraft wood pulping process, decrease in production of paper mill are some restraining factors hampering the global crude sulfate turpentine market to some extent.

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Global Crude Sulfate Turpentine Market: Segmentation

The global crude sulfate turpentine market is fragmented based on applications as camphor, paints & printing inks, adhesives, aromatic chemicals, and others. On the basis of product type, the global market is categorized as delta 3 carene, alpha-pinene, camphene, beta-pinene, limonene, and others. Of these, alpha-pinene is the dominating segment in the global market, which is followed by camphene and limonene. Generally, it is used in the varnish thinner and paint.

Global Crude Sulfate Turpentine Market: Regional Analysis

North America holds the largest market share across the world. This is due to high export of crude sulfate turpentine to other countries worldwide. Europe accounted for the largest market share due to the presence of numerous sources of terpenes and low cost of crude sulfate turpentine. Japan emerged as another region for escalating growth owing to the presence of large manufacturers of aromatic chemicals and availability of the paints products where it consumes crude sulfate turpentine material. Asia Pacific shows a significant growth in the near future.