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(MoneyNewsWire.Net, February 02, 2018 ) Global Crude Sulfate Turpentine Market was worth $208.90 million in 2017 and estimated to be growing at a CAGR of 4.10%, to reach $255.38 million by 2022.
The market is showcasing potential in the mentioned forecasting period. Crude sulfate turpentine is becoming quite famous in recent years as the demand for fragrance ingredients is increasing which require crude sulfate turpentine derivatives; consumers are getting inclined towards more eco-friendly products and crude sulfate turpentine is a welcome substitute to petrochemicals. Also, the very same is getting reflected in the case of perfumes, detergents, and soaps.
The technology includes extraction of terpen hydrocarbons vapours from digester and evaporators and later getting it separated from turpentine water. Crude sulfate turpentine acts like feedstock for the manufacturer who produces flavorings, polymer additives pinenes, pine oil, fragrances and turpentine oil. Extraction of Turpentine oil is done from oleoresin which is collected from a tree. Turpentine is being used as a commercial fuel source and an alternative to fossil fuels in applications such as furnaces, industrial boilers, lamps and rocket fuels.
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The market is observing increased growth due to the rise in demand for bio-friendly products and high consumption of household products and personal care. Additionally, rise in the production of chemical products from turpentine which is used in various forms, such as fragrance agent, solvent and flavor is expected to fuel the market growth. However, some factors are hindering in the growth of Crude sulfate turpentine market; like availability of less expensive petroleum based products and decreasing consumption of the products produce from crude sulfate turpentine along with decreasing paper mill production.
The Global market for Crude sulfate turpentine is broadly categorized by Type (Alpha Pinene, Beta Pinene, Delta 3 Carene, Camphene, Limonene) and by Application (Aromatic Chemicals, Adhesives, Paints and printing inks, Camphor). On the basis of product type, Delta 3 Carene is anticipated to be the fastest growing segment due to the increasing use of turpentine as a solvent for resins. Based on applications, aromatic chemicals accounts for the largest market share because of the high use of crude sulfate turpentine in FMCG products such as air fresheners, soaps, and deodorants.
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Some of the major companies dominating the market are:
· Renessenz LLC
· Dujodwala Paper Chemicals Ltd
· Arizona Chemical Company LLC
· International Flavors & Fragrances Inc.
· Pine Chemical Group
· Lawter Inc.
· Privi Organics Limited
· HARTING Technology Group
· Derives Resiniques et Terpeniqes.
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