The Asia Pacific Crude Sulfate Turpentine Market is showcasing evident potential in the mentioned forecasting period.
According to the report “Asia Pacific Crude Sulfate Turpentine Market By Type (Alpha Pinene, Beta Pinene, Delta 3 Carene, Camphene, Limonene) By Application (Aromatic Chemicals, Adhesives, Paints And Printing Inks, Camphor), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, The Asia Pacific Crude Sulfate Turpentine Market was worth $54.31 million in 2016 and estimated to be growing at a CAGR of 4.22%, to reach $66.78 million by 2021.
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Crude sulfate turpentine earned huge reputation in the recent past as the demand for fragrance ingredients is escalating which require crude sulfate turpentine derivatives; also, customers are inclined towards more eco-friendly products and crude sulfate turpentine are the exact answer to that.
Also, the very same is the case of detergents, perfumes and soaps.
Crude sulfate turpentine is like feedstock for the manufacturer who produces flavorings, fragrances, polymer additives pinenes, turpentine oil and pine oil. The technology follows extraction of terpen hydrocarbon vapours from digester and evaporators and later separating it from turpentine water.
Turpentine is a commercial fuel source and an alternative fossil fuel in applications such as furnaces, lamps, industrial boilers and rocket fuels. Extraction of Turpentine oil is done from oleoresin which is collected from a tree.
Increase in the production of chemical products from turpentine is fervently used in various forms, such as fragrance agent, solvent and flavor is expected to propel the market growth. Additionally, the market is observing increased growth due to the increased demand for bio-friendly products and increased consumption of personal care and household products.
On the other hand, some factors are hindering in the smooth 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.
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The Asia Pacific Crude Sulfate Turpentine Market is broadly categorized by Type (Limonene, Alpha Pinene, Camphene, Beta Pinene, Delta 3 Carene) and by Application (Adhesives, Aromatic Chemicals, Paints and printing inks, Camphor). Based on applications, aromatic chemicals accounts for the biggest market share because of the high use of crude sulfate turpentine in FMCG industry such as soaps, air fresheners, and deodorants.
On the basis of product type, Delta 3 Carene is expected to be the fastest growing segment due to the growing use of turpentine as a solvent for resins.
Some of the major companies dominating the Asia Pacific Crude Sulfate Turpentine Market
- Pine Chemical Group
- Dujodwala Paper Chemicals Ltd
- Arizona Chemical Company LLC
- Lawter Inc.
- Renessenz LLC
- International Flavors & Fragrances Inc.
- Privi Organics Limited
- HARTING Technology Group
- Derives Resiniques et Terpeniqes
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