Global Gum Turpentine Oil Market Overview
According to SPER Market Research, the Global Gum Turpentine Oil Market is estimated to reach USD 2.06 billion by 2032 with a CAGR of 6.3%.
Pine tree is used as a raw material in turpentine. It's a volatile oil made from turpentine that pine plants in the Pinaceae family produce. It is a combination of terpene chemicals in liquid form. ÃŽ2-pinene and ÃŽ-pinene are the two primary ingredients. It is the first plant essential oil that is currently extracted from and used, and it exhibits active chemical reaction performance and a distinctive aromatic odour. Turpentine, a renewable resource, is utilized all over the world. Gum turpentine oil is a raw material used in the manufacture of paint, synthetic camphor, terpineol, synthetic scent, pharmaceuticals, synthetic resin, organic chemical industry, and other products. The growing production of several chemical substances that are widely used as solvents, flavouring agents, and fragrance agents is another factor fuelling the expansion of the global gum turpentine oil market. The market is primarily being driven by rising demands from the paint and chemical industries. The paintbrushes are cleaned with it as a cleaning agent. The paint industry is one of the most significant sectors for employing gum turpentine oil. Turpentine is the usual go-to high-quality paint thinner for brush-applied alkyd and oil-based paints, varnishes, and enamels. It facilitates the paint's penetration, bonding, and adhesion to all kinds of wooden surfaces. Gum spirits with turpentine also make it perfect for use with painters' oil paintings. The chemical industry, which uses turpentine in the synthesis of a wide variety of commercially relevant chemicals, is one of the most significant industries in the turpentine market. Among them are insecticides, camphor, synthetic pine oil, resins, and oil additives.
Impact of COVID-19 on the Global Gum Turpentine Oil Market
The compounds derived from pine trees are renewable resources just like the pine trees themselves. To obtain compounds like crude sulfate turpentine and tall crude oil, which are ultimately used in the production of paper, pine trees must be pulped. Pine-derived chemicals are utilized in a variety of products, including plasticizers, adhesives, resins, surface coatings, printing inks, soaps and detergents, and more. Plastics and sealants both utilize gum rosin, which is created from tree oleoresin. These elements will likely increase demand for pine-based compounds, advancing the industry. The uncertainty of the price of compounds made from pine, however, limits their application. This will therefore probably slow the market's expansion. Rural communities, indigenous peoples, small-scale farmers, and other groups that depend on forests need the income and livelihoods that forests provide in order to survive. It is critical to determine the extent of COVID-19's harm to forests and the people who depend on them. The COVID-19 pandemic's global implications on the forestry sector will be examined by the United Nations Forum on Forests (UNFF) Secretariat, which will also give suggestions for mitigating those consequences. As in many other industries, disruptions in supply chains related to the forestry sector have resulted in a global decline in exports and imports. Globally, there is less demand for tropical wood, paper, and wooden furniture. Orders for raw materials and finished items have been pushed back or canceled, making it impossible for industries depending on the forest to continue operating at full capacity. The development of sectors that are inextricably linked to forests and forestry, such as transportation, forest-based recreation, and tourism, as well as industries that require wood as a raw material, like building and vehicle manufacturing, has slowed down, which has made these issues worse.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Application |
| Regions covered | Asia Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | Arakawa Chemical Industries, Archer Daniels Midland Company, Arizona Chemical Company, Ashland, DRT, Eastman Chemical Company, EURO-YSER, G.C. RUTTEMAN and Co. B.V., Georgia-Pacific Chemicals, Grupo AlEn, Guangdong Pine Forest Perfume Ltd, Guangxi Wusong Pine Chemical Group Corp, Harima Chemicals Group, Himachal Terepene Products Private Limited, Jiangxi Xuesong Natural Medicinal Oil Co Ltd, Lawter, Meadwestvaco Corporation, Privi Organics India, PT. Naval Overseas, Renessenz LLC, Xiamen Doingcom Chemical Co., Ltd. |
Target Audience-
- Commercial research and development (R&D) institutions
- Distributors/traders/wholesalers/suppliers
- End-use industries
- Government organizations, research organizations, and consulting firms
- Importers and exporters
- Raw material suppliers
- Regulatory bodies, including government agencies and NGO
- Trade associations and industry bodies
Global Gum Turpentine Oil Market Segmentation:
1. By Type:
- Carbonization Turpentine
- Fat Turpentine
- Sulphate Turpentine
- Wood Turpentine
2. By Application:
- Chemical Industry
- Paint Industry
- Pharmaceutical Industry
- 8.4 Others
3. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report
- Size of Global Gum Turpentine Oil Market (FY’2019-FY’2032)
- Overview of Global Gum Turpentine Oil Market
- Segmentation of Global Gum Turpentine Oil Market By Type (Carbonization Turpentine, Fat Turpentine, Sulphate Turpentine, Wood Turpentine)
- Segmentation of Global Gum Turpentine Oil Market By Application (Chemical Industry, Paint Industry, Pharmaceutical Industry, Others)
- Statistical Snap of Global Gum Turpentine Oil Market
- Growth Analysis of Global Gum Turpentine Oil Market
- Problems and Challenges in Global Gum Turpentine Oil Market
- Competitive Landscape in the Global Gum Turpentine Oil Market
- Impact of COVID-19 and Demonetization on Global Gum Turpentine Oil Market
- Details on Recent Investment in Global Gum Turpentine Oil Market
- Competitive Analysis of Global Gum Turpentine Oil Market
- Major Players in the Global Gum Turpentine Oil Market
- SWOT Analysis of Global Gum Turpentine Oil Market
- Global Tangential Gum Turpentine Oil Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Gum Turpentine Oil Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Gum Turpentine Oil Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Gum Turpentine Oil Market
7. Global Gum Turpentine Oil Market, By Type, 2019-2032 (USD Million)
7.1 Carbonization Turpentine
7.2 Fat Turpentine
7.3 Sulphate Turpentine
7.4 Wood Turpentine
8. Global Gum Turpentine Oil Market, By Application, 2019-2032 (USD Million)
8.1 Chemical Industry
8.2 Paint Industry
8.3 Pharmaceutical Industry
8.4 Others
9. Global Gum Turpentine Oil Market, By Region, 2019-2032 (USD Million)
9.1 Global Gum Turpentine Oil Size and Market Share by Region (2019-2025)
9.2 Global Gum Turpentine Oil Size and Market Share by Region (2026-2032)
9.3 Asia-Pacific
9.3.1 Australia
9.3.2 China
9.3.3 India
9.3.4 Japan
9.3.5 South Korea
9.3.6 Rest of Asia-Pacific
9.4 Europe
9.4.1 France
9.4.2 Germany
9.4.3 Italy
9.4.4 Spain
9.4.5 United Kingdom
9.4.6 Rest of Europe
9.5 Middle East & Africa
9.5.1 Kingdom of Saudi Arabia
9.5.2 United Arab Emirates
9.5.3 Rest of Middle East & Africa
9.6 North America
9.6.1 Canada
9.6.2 Mexico
9.6.3 United States
9.7 Latin America
9.7.1 Argentina
9.7.2 Brazil
9.7.3 Rest of Latin America
10. Company Profiles
10.1 Arakawa Chemical Industries
10.1.1 Company details
10.1.2 Financial outlook
10.1.3 Product summary
10.1.4 Recent developments
10.2 Archer Daniels Midland Company
10.2.1 Company details
10.2.2 Financial outlook
10.2.3 Product summary
10.2.4 Recent developments
10.3 Arizona Chemical Company
10.3.1 Company details
10.3.2 Financial outlook
10.3.3 Product summary
10.3.4 Recent developments
10.4 Ashland
10.4.1 Company details
10.4.2 Financial outlook
10.4.3 Product summary
10.4.4 Recent developments
10.5 DRT
10.5.1 Company details
10.5.2 Financial outlook
10.5.3 Product summary
10.5.4 Recent developments
10.6 Eastman Chemical Company
10.6.1 Company details
10.6.2 Financial outlook
10.6.3 Product summary
10.6.4 Recent developments
10.7 EURO-YSER
10.7.1 Company details
10.7.2 Financial outlook
10.7.3 Product summary
10.7.4 Recent developments
10.8 G.C. RUTTEMAN and Co. B.V.
10.8.1 Company details
10.8.2 Financial outlook
10.8.3 Product summary
10.8.4 Recent developments
10.9 Georgia-Pacific Chemicals
10.9.1 Company details
10.9.2 Financial outlook
10.9.3 Product summary
10.9.4 Recent developments
10.10 Grupo AlEn
10.10.1 Company details
10.10.2 Financial outlook
10.10.3 Product summary
10.10.4 Recent developments
10.11 Guangdong Pine Forest Perfume Ltd
10.11.1 Company details
10.11.2 Financial outlook
10.11.3 Product summary
10.11.4 Recent developments
10.12 Guangxi Wusong Pine Chemical Group Corp
10.12.1 Company details
10.12.2 Financial outlook
10.12.3 Product summary
10.12.4 Recent developments
10.13 Harima Chemicals Group
10.13.1 Company details
10.13.2 Financial outlook
10.13.3 Product summary
10.13.4 Recent developments
10.14 Himachal Terepene Products Private Limited
10.14.1 Company details
10.14.2 Financial outlook
10.14.3 Product summary
10.14.4 Recent developments
10.15 Jiangxi Xuesong Natural Medicinal Oil Co Ltd
10.15.1 Company details
10.15.2 Financial outlook
10.15.3 Product summary
10.15.4 Recent developments
10.16 Lawter
10.16.1 Company details
10.16.2 Financial outlook
10.16.3 Product summary
10.16.4 Recent developments
10.17 Meadwestvaco Corporation
10.17.1 Company details
10.17.2 Financial outlook
10.17.3 Product summary
10.17.4 Recent developments
10.18 Privi Organics India
10.18.1 Company details
10.18.2 Financial outlook
10.18.3 Product summary
10.18.4 Recent developments
10.19 PT. Naval Overseas
10.19.1 Company details
10.19.2 Financial outlook
10.19.3 Product summary
10.19.4 Recent developments
10.20 Renessenz LLC
10.20.1 Company details
10.20.2 Financial outlook
10.20.3 Product summary
10.20.4 Recent developments
10.21 Xiamen Doingcom Chemical Co., Ltd.
10.21.1 Company details
10.21.2 Financial outlook
10.21.3 Product summary
10.21.4 Recent developments
11. List of Abbreviations
12. Reference Links
13. Conclusion
14. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
