Turpentine Market Set to Exhibit Momentous Revenue Share at US$ 1,513.2 Million by 2028
The global turpentine market is projected to grow at a CAGR of 6.0% between 2018 and 2028
[UKPRwire, Mon Apr 22 2019] A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Turpentine Market Set to Exhibit Momentous Revenue Share at US$ 1,513.2 Million by 2028” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview.
The turpentine market study covers various perspectives of the market, including market dynamics, competition analysis, value chain and pricing chain analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment-level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global turpentine market is projected to grow at a CAGR of 6.0% between 2018 and 2028, in terms of value. Increasing demand for turpentine from fragrance and cosmetics applications is expected to drive the global market, in terms of both value and volume, during the forecast period.
Turpentine is a type of bio- based oil derived from pine tree. CST and gum turpentine are the two types of turpentine. Gum turpentine is obtained from the pine tapping and distillation of pine tree resin, whereas CST is obtained as a by-product of the paper making process. The major products derived from pine trees include gum rosin, gum turpentine and tall oil. Various techniques of pine tapping are employed across different regions. Turpentine can be used in various applications including fragrances, cosmetics, foods, paints and coatings, and others.
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The global turpentine market is estimated at US$ 848.1 Mn in 2018, and is projected to register a CAGR of 6.0% to reach US$ 1,513.2 Mn by 2028. The total incremental $ opportunity expected to be created during 2018 to 2028 is pegged at US$ 665.1 Mn.
The FMI report on the turpentine market carefully analyses the market at a regional and global level through market segmentation on the basis of key parameters such as application and region. This turpentine market report is structured to facilitate the reader to develop a detailed understanding of the market. The turpentine market report begins with a definition of the market, followed by the market background, market dynamics and analysis of the market by key segments, regional analysis of the market and competition landscape. Each section of the turpentine market report includes a quantitative and qualitative assessment of the market on the basis of historical developments, facts and key opinions collected from various industry participants through dedicated interviews and trends in the market.
The market report begins with an introduction of the turpentine market, which includes a market taxonomy and product definitions with respect to the global turpentine market assessment. In the following section, the report describes the market development background, covering industry factors and macro-economic factors affecting the turpentine market for the base year considered for the study.
The next section of the turpentine market report discusses the dynamics of the market such as drivers (demand and supply side), restraints, opportunities and trends impacting the market growth at a global level. Market potential for manufacturers has been presented in the following section of the same chapter. This section also includes an assessment of the impact of market dynamics on the global turpentine market.
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Subsequent sections of the report provide value (US$ Mn) and volume (Consumption in KT) projections for the turpentine market on the basis of the above-mentioned segments at a global level. The values for the global market represented in these sections have been agglomerated by collecting data and information at the regional level.
All the above sections evaluate the present turpentine market scenario and growth prospects in the global turpentine market while the forecast presented in the sections assesses the market size in terms of volume and value.
Additionally, it is imperative to note that, in an inconsistent global economy, we not only conduct forecasts in terms of CAGR, but analyse the market on the basis of crucial parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the turpentine market and identify the accurate opportunities available.
In order to understand the key market segments in terms of growth of turpentine market across concerned regions, FMI has developed an attractiveness index, which will help providers identify real market opportunities.
Another significant feature of the turpentine market report is the analysis of all the key segments in the turpentine market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective in the turpentine market.
In the concluding section of the turpentine market report, a competitive landscape of the turpentine market has been included to provide report audiences with a dashboard view, categorised on the basis of providers present in the value chain, their presence in the turpentine market and key differentiating factors and strategies. The primary category of providers covered in the report includes turpentine manufacturers. This section in the turpentine market report is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the turpentine market. Examples of some of the key competitors covered in this report include PT. Naval Overseas, Wuzhou Pine Chemicals Ltd., Wuzhou Sun Shine Forestry & Chemicals CO., ltd., Punjab Rosin and Chemicals Works, Forestar Chemical Co., Ltd., Deqing Yinlong Industrial Co., Ltd., Deqing Jiyuan synthetic Resin Co., Ltd., Resin Chemicals Co., Ltd, Guilin Songquan Forest Chemical Co., Ltd., CV. Indonesia Pinus, Vinhconship Group, and EURO-YSER.
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