global crude sulfate turpentine market are focusing on strategic collaborations with local distributors to reach large consumer base in emerging countries. Increasing demand for cosmetics and personal care products is creating opportunities for new players in Asia Pacific for crude sulfate turpentine market.
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Revenue from the sales of personal care products and natural ingredients has been forecast to increase substantially in countries like China, India, Japan and Southeast Asia over the period. Driven by this, Future Market Insights projects the crude sulfate turpentine market to remain steady, exhibiting growth at 5.4% CAGR between 2021 and 2031 in comparison to the CAGR of 4.1% posted between 2016 and 2020.
Among product types, alpha-pinene, being the primary chemical constituent of cypress, rosemary, juniper berry, frankincense and helichrysum essential oils, is being widely used in the cosmetics industry. It also offers a range of benefits for skin and oral health and support immune and respiratory system functions. It can
Why is Crude Sulfate Turpentine Gaining Traction as a Solvent or Cleaning Agent for Paints and Varnishes?
Crude sulfate turpentines are most widely used as paint thinner in both household and artistic coatings. Turpentine was used before to dilute printer’s ink. Now with growing demand from industries, it has become a solvent or diluent for various products, like natural or modified binders, resins, oils, paints and polishes.
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In other oil-based paint and coating formulations, peroxidation of terpenes derived from turpentine accelerates drying of oils and other film formers. All these factors are making crude sulfate turpentine a key ingredient in paints and varnishes.
How is Demand in Pharmaceutical Industry Driving Crude Sulfate Turpentine Sales?
Being a powerful bronchodilator, alpha-pinene type of crude sulfate turpentine is found in essential oils industry distinctly. It is highly bioavailable, shows effectiveness in human pulmonary uptake, and can be metabolized quickly. It also acts as a supplement in many dementia drugs by inhibiting cholinesterase and enhancing cholinergic activity, when used only in small concentrations.
Drugs that have alpha-pinene constituent are sometimes administered to protect pancreas and lungs against infection. Alpha-pinene can reduce the production of TNF-alpha, which is the pancreatic tumour necrosis factor. Also, it can inhibit some cell deaths hence it may be used for treatment in pancreatic cancer. These factors are boosting the use of crude sulfate turpentine in pharmaceutical industry.
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Which Harmful Effects of Crude Sulfate Turpentine is withholding the Market?
Toxic gases and vapors, like carbon monoxide and partial products of terpenes generated from auto-oxidation process can spark fire in a confined space. Turpentine also attacks some coatings and forms of plastic and rubber.
It is suggested that turpentine should be stored in a dry, cool and well-ventilated space and put in containers keeping them tightly sealed. Containers of turpentine should always be protected from physical damage and stored separately from strong oxidizers, sparks, heat or open flame.
What is the Impact of COVID-19 on the Crude Sulfate Turpentine Market?
While the world is being challenged with an unprecedented crisis of ongoing COVID-19 scenario, many countries have stopped regular activities amidst lockdown and restrictions implemented to contain the virus.
It has also altered consumer buying decisions, while the limited availability of raw materials is affecting the market worldwide. Besides this, production, processing, distribution and consumption processes have been disrupted due to the supply chain disturbance.
While cosmetic products, aromatherapy and fragrance industry is on path of recovery, paints and rubber industries are yet to overcome effects of disruptions. Veterinary medicines, tires and plastic industries are also gaining traction gradually.
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Against this backdrop, FMI has forecast that tires and rubber industries will register CAGR at 7.2% and 8.5%, respectively over the assessment period.
Country-wise Insights
Did FDA Approval of Turpentine in Different Industries Help in Driving Crude Sulfate Turpentine Sales in the U.S.?
According to FMI, the U.S. is a dominant market for crude sulfate turpentine and it is also expected to exhibit high growth over the forecast period. According to the latest study, sales in the U.S. is estimated to account for more than 94.2% of the North America market in 2021.
As FDA approved turpentine spirits and listed it as an active ingredient in various drug products formulations, it unfolded scope for increasing application of crude sulfate turpentine products in pharmaceutical industry. It is being used for nasal drug products, cold and fever treatments, expectorant drug products, oral menstrual drug products, drug products related to insect bites and more.
Crude sulfate turpentine also has emerged as an ingredient used in food applications. It has been listed as a natural flavoring substance by FDA and its use also is allowed in adhesives for food packaging.
Terpene resins and hydrocarbons can be used in polypropylene or polyolefin films for use in food packaging industry. Surging applications across diverse industries will continue pushing sales in the U.S.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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