Turpentine Market Trends, Size, Drivers, Strategies,Products And Competitive Landscape Outlook to 2020

Turpentine is a colorless or yellowish liquid having extremely strong pine-like fragrance. Turpentine is a volatile oil that is extracted from the pine resins which is obtained from the trees of the genus Pinus. Turpentine is composed of terpenes which mainly consist of the monoterpenes such as alpha-pinene and beta-pinene with small quantities of careen, dipentene, camphene and terpinolene. Turpentine is often replaced by mineral turpentine or other petroleum distillates which are very different chemically. Turpentine is easily soluble in non-polar solvents, acetone, diethyl ether and absolute ethanol among others. Turpentine finds wide applications as solvents for paints, enamels and varnishes as well as raw material for manufacturing important products.

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Turpentine is used to manufacture a wide range of chemicals such as terpineol, synthetic camphor and synthetic borneol among others. Thus, the growing chemical industry is expected to boost the overall turpentine market. China is expected to be the largest manufacture of turpentine owing to the presence of abundant pine resource which in turn helps to ensure ample supply of the raw material. The global market off turpentine is driven by the production of gum rosin. The overall demand for oleoresin is expected to boost the overall demand for turpentine market. Turpentine is also widely used to manufacture perfumes. Gum turpentines are majorly used to synthesize essence and other fragrances. The growing perfume industry in China is expected to boost the overall growth of the turpentine market. In certain countries, turpentine is also used in the pharmaceutical industry. Turpentine is also employed to manufacture paints, coatings and varnishes especially in countries where there is abundant pine available.

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Some of the key participants manufacturing turpentine include Pine Chemicals Ltd., Yunnan Jinggu Forestry, Ltd., Krishna Trading Co. and Guangdong Jiangmen Xinhui Overseas Chinese Industry Development Co., Ltd. among others.