All updated as on -
The global gum turpentine oil market is expected to reach USD 1,579.89 mn by 2030, growing at a CAGR of 8.52% between 2023 and 2030. In 2022, the market was expected to be worth $952.89 million.
Mineral turpentine is a petroleum-based solvent widely used in the paint business. It is insoluble in water and has a strong odor resembling kerosene. The most common type of mineral turpentine is a mixture of saturated aliphatic acid and alicyclic hydrocarbons with a boiling point between 130 and 230 degrees Celsius. Mineral turpentine goes by a number of other names, including white spirit, mineral spirit, and petroleum spirit. Classification is done according to the crude oil used and the distillation process. The levels of flashiness range from low to extreme. Both the manufacturing method and the original material percentage influence the final product's chemical make-up.
Pine trees are felled to extract gum turpentine oil and other chemicals that find their way into a wide range of consumer goods. Paints, adhesives, perfumes, scented soaps and other household cleaning goods, tires, and many other items fall under this category. The manufacturer chose a sustainable option as the best course of action because of rising costs associated with addressing rising levels of carbon dioxide emissions caused by natural gas and crude oil, as well as the increasing stringency of environmental regulation. Because of this, its relevance cannot be overstated in fields as varied as the manufacture of adhesives, resins, and odor compounds.
Some of the forces driving the gum-turpentine oil market forward include the continuous demand from the fragrance and cosmetics sectors as well as the continued demand from the paints and coatings industries. In addition, the growing need for eco-friendly ingredients is in line with the pine-chemicals industry's emphasis on long-term viability. During the midpoint of the forecast period, manufacturers of gum turpentine oil may benefit from an increase in the number of tappers working in emerging countries. A number of factors, such as the availability of alternatives and pine and tapper, and the government's ever-changing rules on the pine-chemicals market, have an effect on the overall demand.
Equipment and equipments used in the manufacturing of items for the automotive auxiliary sector have significant upkeep needs. Maintenance is essential for the proper functioning of this apparatus and operational instruments. Mineral turpentine is used to clean machinery by dissolving oil, grease, grime, and other adherent dirt and dust. There has been a worldwide uptick in the application of premium paints and coatings on automobiles. As demand for the product rises in the automobile industry, the global mineral turpentine market is expected to expand. Paint products see heavy application in the building industry. New paint materials are required every few years for commercial and residential buildings. Population growth and rising wages are expected to fuel strong expansion in the construction industry over the next decade. This is expected to boost demand for mineral turpentine during the forecast period.
Mineral turpentine has been linked to health issues, and this has the business world scared. Major health issues, including as kidney and lung damage, vomiting, restlessness, and headaches, can result from inhaling too much mineral turpentine. Asthmatics and anyone with respiratory issues should stay away from mineral turpentine. This has the potential to severely limit the mineral turpentine industry.
Report Coverage
Global Turpentine Oil research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Turpentine Oil report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Turpentine Oil competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Turpentine Oil market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Turpentine Oil market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Turpentine Oil market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Mentha & Allied Products Private Limited, Manish Nevatia, HTP, Kandla Energy, MURLIDHAR VIJAY KUMAR, Kantian Gram Udyog Samiti, M/s Suraj Paint & Varnish Industries, PT. Naval Overseas, Changsha wave silver chemical industry trade, Jiangxi cedar natural medicinal oil, Hangzhou heng chemical industry, WeiBoLi Yang technology, Jiang Xixin sen natural vegetable, HTPL, Privi Speciality Chemicals Limited, Merck KGAA, Menthaallied, Punjab Rosin And Chemicals Works, Ratnaka Resins Pvt. Ltd., Mahendra Rosin And Turpentine Pvt. Ltd., and Tung Viet Chemicals Corporation.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Turpentine Oil market based on the below-mentioned segments:
Global Turpentine Oil Market, By Type
Wood Turpentine
Sulphate Turpentine
Fat Turpentine
Carbonization Turpentine
Global Turpentine Oil market, By Application
Adhesives & Sealants
Rubber
Paints & Coatings
Perfumes/ Fragrances
Pharmaceutical Products
Others
Global Turpentine Oil market, Regional Analysis
Mineral turpentine is a petroleum-based solvent widely used in the paint business. It is insoluble in water and has a strong odor resembling kerosene. The most common type of mineral turpentine is a mixture of saturated aliphatic acid and alicyclic hydrocarbons with a boiling point between 130 and 230 degrees Celsius. Mineral turpentine goes by a number of other names, including white spirit, mineral spirit, and petroleum spirit. Classification is done according to the crude oil used and the distillation process. The levels of flashiness range from low to extreme. Both the manufacturing method and the original material percentage influence the final product's chemical make-up.
Pine trees are felled to extract gum turpentine oil and other chemicals that find their way into a wide range of consumer goods. Paints, adhesives, perfumes, scented soaps and other household cleaning goods, tires, and many other items fall under this category. The manufacturer chose a sustainable option as the best course of action because of rising costs associated with addressing rising levels of carbon dioxide emissions caused by natural gas and crude oil, as well as the increasing stringency of environmental regulation. Because of this, its relevance cannot be overstated in fields as varied as the manufacture of adhesives, resins, and odor compounds.
Some of the forces driving the gum-turpentine oil market forward include the continuous demand from the fragrance and cosmetics sectors as well as the continued demand from the paints and coatings industries. In addition, the growing need for eco-friendly ingredients is in line with the pine-chemicals industry's emphasis on long-term viability. During the midpoint of the forecast period, manufacturers of gum turpentine oil may benefit from an increase in the number of tappers working in emerging countries. A number of factors, such as the availability of alternatives and pine and tapper, and the government's ever-changing rules on the pine-chemicals market, have an effect on the overall demand.
Equipment and equipments used in the manufacturing of items for the automotive auxiliary sector have significant upkeep needs. Maintenance is essential for the proper functioning of this apparatus and operational instruments. Mineral turpentine is used to clean machinery by dissolving oil, grease, grime, and other adherent dirt and dust. There has been a worldwide uptick in the application of premium paints and coatings on automobiles. As demand for the product rises in the automobile industry, the global mineral turpentine market is expected to expand. Paint products see heavy application in the building industry. New paint materials are required every few years for commercial and residential buildings. Population growth and rising wages are expected to fuel strong expansion in the construction industry over the next decade. This is expected to boost demand for mineral turpentine during the forecast period.
Mineral turpentine has been linked to health issues, and this has the business world scared. Major health issues, including as kidney and lung damage, vomiting, restlessness, and headaches, can result from inhaling too much mineral turpentine. Asthmatics and anyone with respiratory issues should stay away from mineral turpentine. This has the potential to severely limit the mineral turpentine industry.
Report Coverage
Global Turpentine Oil research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Turpentine Oil report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Turpentine Oil competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Turpentine Oil market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Mentha & Allied Products Private Limited, Manish Nevatia, HTP, Kandla Energy, MURLIDHAR VIJAY KUMAR, Kantian Gram Udyog Samiti, M/s Suraj Paint & Varnish Industries, PT. Naval Overseas, Changsha wave silver chemical industry trade, Jiangxi cedar natural medicinal oil, Hangzhou heng chemical industry, WeiBoLi Yang technology, Jiang Xixin sen natural vegetable, HTPL, Privi Speciality Chemicals Limited, Merck KGAA, Menthaallied, Punjab Rosin And Chemicals Works, Ratnaka Resins Pvt. Ltd., Mahendra Rosin And Turpentine Pvt. Ltd., and Tung Viet Chemicals Corporation. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Turpentine Oil Market from 2021 to 2030.
- Market Forecast for Turpentine Oil Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Turpentine Oil competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Turpentine Oil
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Turpentine Oil market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Turpentine Oil market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Mentha & Allied Products Private Limited, Manish Nevatia, HTP, Kandla Energy, MURLIDHAR VIJAY KUMAR, Kantian Gram Udyog Samiti, M/s Suraj Paint & Varnish Industries, PT. Naval Overseas, Changsha wave silver chemical industry trade, Jiangxi cedar natural medicinal oil, Hangzhou heng chemical industry, WeiBoLi Yang technology, Jiang Xixin sen natural vegetable, HTPL, Privi Speciality Chemicals Limited, Merck KGAA, Menthaallied, Punjab Rosin And Chemicals Works, Ratnaka Resins Pvt. Ltd., Mahendra Rosin And Turpentine Pvt. Ltd., and Tung Viet Chemicals Corporation.
Primary Target Market
- Market Players of Turpentine Oil
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Turpentine Oil market based on the below-mentioned segments:
Global Turpentine Oil Market, By Type
Wood Turpentine
Sulphate Turpentine
Fat Turpentine
Carbonization Turpentine
Global Turpentine Oil market, By Application
Adhesives & Sealants
Rubber
Paints & Coatings
Perfumes/ Fragrances
Pharmaceutical Products
Others
Global Turpentine Oil market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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