Market Overview:
The global turpentine oil market is expected to grow at a CAGR of 3.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for turpentine oil in various applications such as paper, paint, medicine, dyes and others. Additionally, the growing demand for carbonization turpentine is also contributing to the growth of this market. However, factors such as fluctuating prices of raw materials and stringent environmental regulations are restraining the growth of this market. On basis of type, fat turpentine accounted for majority share in 2017 and is expected to maintain its dominance during forecast period due to its high demand from various applications such as paints and coatings industry. Sulphate turpentine is projected to be fastest growing segment due its increasing use in production of terpenes which are used as fragrances & flavors across various industries including food & beverage sector . On basis on application , paper segment accounted for largest share in 2017 followed by paints segment . This trend is anticipated continue during forecast period owing rising demand from packaging industry coupled with stringent government regulations regarding environment protection .
Product Definition:
Turpentine oil is a natural product distilled from the sap of pine trees. It has been used as a solvent, in varnishes and paints, and as an insecticide.
Fat Turpentine:
Fat turpentine is a by-product obtained in the process of refining pine oil. It has been used traditionally as an insecticide and fungicide, especially for the control of termites and mold on sugarcane fields. The product also finds application in various industries including pharmaceuticals, food & beverages, personal care products manufacturing and others owing to its unique properties such as low toxicity & high viscosity at room temperature along with being highly inflammable.
Sulphate Turpentine:
Sulphate turpentine is a by-product obtained during the production of pulp for paper manufacturing. It is commercially available in two forms which include, Turpentine oil and Sulphate turpentine. The product finds application in various end-use industries including paints & coatings, printing ink, adhesives & sealants and lubricants among others.
Application Insights:
Paint was the largest application segment and accounted for over 50% of the total revenue share in 2017. The product is widely used as a paint additive owing to its superior characteristics, such as anti-fogging, anti-corrosion, high gloss enhancement and resistance to acids. It also has excellent drying properties which enable it to be used in oil based paints. Turpentine oil is considered an important raw material for the production of various industrial solvents and chemical intermediates that are utilized across several industries including pharmaceuticals, paints & coatings and aromatics among others.
Paper manufacturing was one of the major end-use industries where turpentine oil finds extensive usage since it possesses excellent water repellence along with brightness enhancement ability which makes it suitable for all paper grades including newsprint, office paper (LPTM), tissue paper (MTPM) among others.
Regional Analysis:
Asia Pacific dominated the global turpentine oil market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for paint and dyes from developing countries such as China, India, Japan, and South Korea. In addition, rising number of industries manufacturing paints & coatings due to rapid urbanization in these countries will drive product consumption further.
The Asia Pacific was followed by North America which accounted for a share of 22.1% in terms of volume consumed globally in 2017 on account turpentine being one of the most important raw materials used across various end-use industries including paints & coatings and pharmaceuticals among others.
Europe was estimated as third major consumer after Asia Pacific.
Growth Factors:
- Increasing demand from paints and coatings industry as a solvent and thinner
- Rising demand for turpentine oil in the production of adhesives, sealants, and other industrial products
- Growing use of turpentine oil in the manufacture of fragrances and flavors
- Increasing application scope of turpentine oil in printing ink industry
- Rising popularity of bio-based solvents as an environmentally friendly option
Scope Of The Report
Report Attributes
Report Details
Report Title
Turpentine Oil Market Research Report
By Type
Fat Turpentine, Sulphate Turpentine, Wood Turpentine, Carbonization Turpentine
By Application
Paper, Paint, Medicine, Dyes, Other
By Companies
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, Mentha & Allied Products Private Limited, WeiBoLi Yang technology, Jiang Xixin sen natural vegetable
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
130
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Turpentine Oil Market Report Segments:
The global Turpentine Oil market is segmented on the basis of:
Types
Fat Turpentine, Sulphate Turpentine, Wood Turpentine, Carbonization Turpentine
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Paper, Paint, Medicine, Dyes, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 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
- Mentha & Allied Products Private Limited
- WeiBoLi Yang technology
- Jiang Xixin sen natural vegetable
Highlights of The Turpentine Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Fat Turpentine
- Sulphate Turpentine
- Wood Turpentine
- Carbonization Turpentine
- By Application:
- Paper
- Paint
- Medicine
- Dyes
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Turpentine Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Turpentine oil is a by-product of the distillation of turpentine. It is a colorless, viscous liquid with a characteristic odor. Turpentine oil has many uses in industry and commerce, including as an additive to plastics and rubber products to improve their flexibility and resistance to weathering, as well as in paint and varnish formulations.
Some of the major companies in the turpentine oil market are 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, Mentha & Allied Products Private Limited, WeiBoLi Yang technology, Jiang Xixin sen natural vegetable.
The turpentine oil market is expected to grow at a compound annual growth rate of 3.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Turpentine Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Turpentine Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Turpentine Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Turpentine Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Turpentine Oil Market Size & Forecast, 2020-2028
4.5.1 Turpentine Oil Market Size and Y-o-Y Growth
4.5.2 Turpentine Oil Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Fat Turpentine
5.2.2 Sulphate Turpentine
5.2.3 Wood Turpentine
5.2.4 Carbonization Turpentine
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Paper
6.2.2 Paint
6.2.3 Medicine
6.2.4 Dyes
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Turpentine Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Turpentine Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Fat Turpentine
9.6.2 Sulphate Turpentine
9.6.3 Wood Turpentine
9.6.4 Carbonization Turpentine
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Paper
9.10.2 Paint
9.10.3 Medicine
9.10.4 Dyes
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Fat Turpentine
10.6.2 Sulphate Turpentine
10.6.3 Wood Turpentine
10.6.4 Carbonization Turpentine
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Paper
10.10.2 Paint
10.10.3 Medicine
10.10.4 Dyes
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Fat Turpentine
11.6.2 Sulphate Turpentine
11.6.3 Wood Turpentine
11.6.4 Carbonization Turpentine
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Paper
11.10.2 Paint
11.10.3 Medicine
11.10.4 Dyes
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Fat Turpentine
12.6.2 Sulphate Turpentine
12.6.3 Wood Turpentine
12.6.4 Carbonization Turpentine
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Paper
12.10.2 Paint
12.10.3 Medicine
12.10.4 Dyes
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Fat Turpentine
13.6.2 Sulphate Turpentine
13.6.3 Wood Turpentine
13.6.4 Carbonization Turpentine
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Paper
13.10.2 Paint
13.10.3 Medicine
13.10.4 Dyes
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Turpentine Oil Market: Competitive Dashboard
14.2 Global Turpentine Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Mentha & Allied Products Private Limited
14.3.2 Manish Nevatia
14.3.3 HTP
14.3.4 Kandla Energy
14.3.5 MURLIDHAR VIJAY KUMAR
14.3.6 Kantian Gram Udyog Samiti
14.3.7 M/s Suraj Paint & Varnish Industries
14.3.8 PT. Naval Overseas
14.3.9 Changsha wave silver chemical industry trade
14.3.10 Jiangxi cedar natural medicinal oil
14.3.11 Mentha & Allied Products Private Limited
14.3.12 WeiBoLi Yang technology
14.3.13 Jiang Xixin sen natural vegetable
