The Global Crude Sulfate Turpentine Market was worth $208.90 million in 2016 and estimated to be growing at a CAGR of 4.10%, to reach $255.38 million by 2021.
Hyderabad, India -- (SBWIRE) -- 03/08/2018 -- According to a new market research report " Crude Sulfate Turpentine Market By Type (Alpha Pinene, Beta Pinene, Delta 3 Carene, Camphene, Limonene) By Application (Aromatic Chemicals, Adhesives, Paints And Printing Inks, Camphor), And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)", published by MarketDataForecast™, the market is expected to reach USD 255.38 Million by 2021 from USD 208.90 Million in 2016, at a CAGR of 4.10%. Factors driving the growth of this market include the rise in consumption of household products and care, increase in demand for bio-friendly products.
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By Type, the Delta 3 Carene segment accounted for the largest market share in 2016
By type, the Crude Sulfate Turpentine Market is classified into Alpha Pinene, Beta Pinene, Delta 3 Carene, Camphene, Limonene. The Delta 3 Carene segment commanded the global Crude Sulfate Turpentine Market in 2016 and is expected to be the fastest growing segment in the forecast period. The growth in this market is driven by the increased use of turpentine oil as a solvent for resins.
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The Aromatic chemicals segment dominated the market in 2016
By application, the market is segmented into Aromatic Chemicals, Adhesives, Paints and Printing Inks, Camphor. The Aromatic chemicals segment accounted for the largest share of the global Crude Sulfate Turpentine Market in 2016. This growth in this segment is due to increase in use of crude sulfate turpentine in cosmetic products such as air fresheners, soaps, and deodorants.
North America commanded the largest share of the market in 2016
Based on region, the Crude Sulfate Turpentine Market is segmented into North America, Europe, Asia, and Rest of the World (RoW). North America dominated the Crude Sulfate Turpentine Market in 2016 followed by Europe. APAC is expected to grow at a high growth rate mainly due to countries like Japan having largest sources for turpentine and many key manufacturers of aromatic-based products situated in that region.
Key players in the Crude Sulfate Turpentine Market include Renessenz LLC, Dujodwala Paper Chemicals Ltd, Pine Chemical Group, Arizona Chemical Company LLC, International Flavors & Fragrances Inc., Privi Organics Limited, Lawter Inc., HARTING Technology Group and Derives Resiniques et Terpeniqes.
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Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
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The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter's Five Forces
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