The Latin America Crude Sulfate Turpentine Market is showcasing evident potential in the mentioned forecasting period.
According to the report “Latin America 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 Latin America Crude Sulfate Turpentine Market was worth $20.89 million in 2016 and estimated to be growing at a CAGR of 3.95%, to reach $25.35 million by 2021.
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Crude sulfate turpentine is getting fame in the recent past as the demand for fragrance ingredients is mounting which require crude sulfate turpentine derivatives; customers are getting inclined towards more environmental-friendly products and crude sulfate turpentine is a substitute which is much welcomed in comparison to petrochemicals.
The same is getting reflected in the case of perfumes, detergents, and soaps.
The technology includes extraction of hydrocarbons vapours of terpen from evaporators and digester and later separating it from turpentine water. For the manufacturer, crude sulfate turpentine acts like feedstock, which produces polymer additives pinenes, flavourings, pine oil, fragrances and turpentine oil.
Turpentine oil is extracted from oleoresin which is collected from a tree. Turpentine is also used as a commercial fuel source - an alternative to fossil fuels in applications like industrial boilers, furnaces, lamps and rocket fuels.
The Latin America Crude Sulfate Turpentine Market is witnessing high growth due to the rise in demand for bio-friendly and eco-friendly products and also due to high consumption of household products and personal care. Moreover, rise in the production of chemical products from turpentine which is used in multiple forms, such as solvent, fragrance agent and flavor is expected to propel the market growth.
On the other hand, some factors are slowing down the growth of Crude sulfate turpentine market; like the availability of less expensive petroleum based products and lowering consumption of the products produced from crude sulfate turpentine along with decreasing paper mill production.
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The Latin America Crude Sulfate Turpentine Market is broadly characterized by Type (Beta Pinene, Alpha Pinene, Delta 3 Carene, Limonene, Camphene) and by Application (Paints and printing inks, Camphor, Adhesives). On the basis of product type, Delta 3 Carene is expected to be the fastest growing segment due to the high use of turpentine as a solvent for resins.
Based on applications, aromatic chemicals accounts for the largest market share because of the increased use of crude sulfate turpentine in FMCG products such as soaps, air fresheners, and deodorants.
Some of the major companies dominating the Latin America Crude Sulfate Turpentine Market are:
- Arizona Chemical Company LLC
- International Flavors & Fragrances Inc.
- Renessenz LLC
- Dujodwala Paper Chemicals Ltd
- Pine Chemical Group
- Lawter Inc.
- Privi Organics Limited
- HARTING Technology Group
- Derives Resiniques et Terpeniqes.
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