There are many types of turpentine derivatives and the market demand is growing

Turpentine is a sufficient and low-cost raw material for the development of terpene spices. Common turpentine derivatives include camphor, pine oil, terpineol, terpene, pinene and terpene resins. There are many kinds of turpentine derivatives with wide application fields, involving papermaking, medicine, materials, spices, plastics, metal processing, food, rubber and other fields. In recent years, with the growth of downstream consumption, the market demand for turpentine derivatives has been continuously released.

Turpentine is an important industrial raw material. It is insoluble in water and can be mixed with chloroform, ether or acetic acid in any proportion. As a renewable resource, turpentine is favored by the market. However, due to stricter environmental protection supervision and restrictions on the supply of raw materials, my country’s turpentine market is in short supply, and turpentine imports continue to rise. In 2021, the output of my country’s turpentine industry will be around 200,000 tons, and the main production capacity Concentrated in Yunnan, Guangxi, Guangdong and other regions.

According to the “2022-2027 Turpentine Derivatives Industry Market In-depth Research and Investment Prospect Forecast Analysis Report released by the Industrial Research Center, In recent years, the growth in downstream market demand has driven the continuous expansion of the turpentine derivatives market. In 2021, the global turpentine derivatives market will be approximately US$1.42 billion, with an average annual compound growth rate of approximately 5.0% from 2016 to 2021. It is expected that the global turpentine derivatives market will continue to grow from 2022 to 2026, but the growth rate will slow down, and the average annual compound growth rate will remain at around 4.0%.

Globally, the turpentine derivatives market is mainly distributed in North America, Europe, Asia-Pacific and other regions. The three major regions account for about 90% of the total market share. Among them, the Asia-Pacific region has strong manufacturing capabilities and is the world’s largest turpentine derivatives market. From the perspective of market segments, among various turpentine derivatives, camphor has the largest market share and highest output, with a market share of more than 28.0%. my country is a major producer of synthetic camphor and has a complete industrial chain of synthetic camphor. Pinene ranks second in the market, accounting for about 12.0%; the third is terpene resin.

In the international market, turpentine derivatives manufacturers include Firmenich, Ingevity Corporation, Harima Chemicals, etc. In the domestic market, turpentine derivatives manufacturers include Fujian Qingsong Co., Ltd., Suzhou Youhe Technology, Tianlong Group, etc. Qingsong Co., Ltd. is a leading enterprise in the domestic turpentine deep processing industry and is in an oligopoly position in the synthetic camphor market. As the company’s main product, synthetic camphor’s revenue share has gradually increased, and has maintained a share of more than 70.0% since 2016.

Industry analysts said that there are many types of turpentine derivatives with a wide range of applications. With the development of downstream markets, the market demand for turpentine derivatives continues to rise. . my country is a major producer of turpentine derivatives, and its production capacity is mainly concentrated in areas with rich turpentine resources. In terms of enterprises, Qingsong Co., Ltd. is a leading enterprise in the turpentine deep processing industry, and it has strong supply capacity and product pricing power.