Market Size of Crude Sulfate Turpentine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Crude Sulfate Turpentine Market Analysis
The market for crude sulfate turpentine is expected to register at a CAGR of over 3% during the forecast period.
COVID-19 negatively impacted the market in 2022. Several countries worldwide went into lockdown to curb the virus spread due to the pandemic scenarios. The crude sulfate turpentine demand from various industries such as perfumes and fragrances, beauty and cosmetics, and others was halted. However, the condition recovered in 2021, benefiting the market growth studied over the forecast period.
- The primary factor driving the market's growth is the growing household and personal care product utilization.
- Moreover, other factors driving the market's growth include high aroma chemicals consumption in producing different fragrances and flavors.
- On the flip side, the high amount of investments required in the distillation process is a restraint in developing the studied market.
- North America is anticipated to hold the largest market share due to the region's high home and personal care product consumption.
