Crude Sulfate Turpentine Market Size, Share, Growth Analysis, By Application(camphor, resins), By Composition(pinene, limonene), By End user(Cosmetics, food & beverage) - Industry Forecast 2024-2031

Crude Sulfate Turpentine Market size was valued at USD 694.59 million in 2022 and is poised to grow from USD 717.51 million in 2023 to USD 930.32 million by 2031, growing at a CAGR of 3.30% during the forecast period (2024-2031).

firms dominate the market for crude sulphate turpentine, which is relatively competitive. However, as demand for fragrance ingredients has increased, local businesses have been diversifying their product lines, which has contributed significantly to the market's expansion. 'DRT (Derives Resiniques et Terpeniqes)', 'International Flavors and Fragrances Inc.', 'Arizona Chemical Company LLC', 'Pine Chemical Group', 'Eastman Chemical Company', 'Arakawa Chemical Industries, Ltd.', 'Mentha & Allied Products Pvt. Ltd.', 'Privi Organics Limited', 'Guilin Songquan Forest Chemical Co., Ltd.', 'Lawter Inc.', 'Foreverest Resources Ltd.', 'Kraton Corporation', 'WestRock Company', 'HARTING KGaA', 'Ensyn Corporation', 'Deqing Yinlong Industrial Co., Ltd.', 'Georgia-Pacific Chemicals LLC', 'Mercer International Inc.', 'Respol Resinas S.A.U.', 'Himachal Terepene Products', 'In 2021, Kraton Corporation has gained momentum in the market despite of COVID-19 induced challenges and has become one of the prominent manufacturers and suppliers of crude Sulfate turpentine with a significant share. They now serve more than 800 customers in over 70 countries worldwide across a diverse range of end markets.'

Camphene is a food additive that is widely used in the food and beverage industries to improve flavour and extend shelf life. Because of the numerous applications for camphene, the market for crude sulphate turpentine is expected to grow. Furthermore, demand for crude sulphate turpentine derivatives such as pure alpha- and beta-pinene, terpineol, camphor, and carene is expected to increase. The rising importance of crude sulphate turpentine derivatives as raw materials in the production of soaps, phenyls, household and industrial cleaning products, cosmetics, and personal and home care products is expected to drive demand for crude sulphate turpentine over the forecast period.

Aroma chemicals application accounted for the largest volume share. The widespread use of these subordinates, as they are commonly sourced, in the production of various fragrances and flavours, detergents, and soaps is expected to propel the market further during the forecast period.

On the basis of region, the crude sulphate turpentine market is categorized into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America dominates the overall crude sulphate turpentine market due to industries such as paints and aromatic chemicals being major consumers of crude sulphate turpentine in the region. The United States and Canada are both well-known producers and consumers of crude sulphate turpentine. These countries also ship the product to Africa and Asia. China and India are the region's primary consumers, propelled by rising demand from the personal care products industry, which is also expected to grow due to the region's existing and growing population. Europe emerged as the second largest market, owing primarily to the region's prevalent 'all natural' trend for cosmetics and personal care products. Furthermore, the presence of a strong personal care manufacturing base in countries such as the United Kingdom, France, and Germany will be a positive growth factor for the market. Due to rising demand in the cosmetics and personal care industries from developing countries such as China and Japan, Asia Pacific is expected to be the fastest growing regional market, with a CAGR of more than 6%. The Europe area currently controls a significant portion of the market for crude sulphate turpentine, and it is anticipated that it will maintain its leadership over the projected period. In the area, crude sulphate turpentine has been extensively employed as cleaning agents, pesticides, solvents, and disinfectants in the paint industry. As a source of chemical compounds, it is now widely employed in the pharmaceutical and perfumery industries. One of the main sources of derivatives for the tastes and fragrances business, including camphor, borneol, dihydro myrtenol, terpineol, and many more, is crude sulphate turpentine.