Global Gum Turpentine Oil Market Valued at USD 1.1 Billion in 2022, Expected to Grow at a CAGR of 7.2% from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Gum Turpentine Oil market size accounted for USD 1.1 Billion in 2022, growing at a CAGR of 7.2% from 2023 to 2033. The gum turpentine oil market refers to the market for the essential oil derived from the resin of pine trees, primarily obtained from the longleaf pine (Pinus palustris) and slash pine (Pinus elliottii). Gum turpentine oil, also known as pine gum or gum spirits, is a natural product with various industrial and commercial applications. Gum turpentine oil is widely used as a solvent in numerous industrial applications. It is a key ingredient in the production of paints, varnishes, lacquers, adhesives, and coatings. The oil's solvent properties help in dissolving resins, gums, and waxes, making it an essential component in the formulation of many industrial products.
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Key Highlights:
• The global Gum Turpentine Oil Market size was valued at USD 1.1 billion in 2022 growing at a CAGR of 7.2% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has published a new market research report on Global Gum Turpentine Oil Market focusing in various aspects including market size and forecast, market dynamics, competitors market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which includes Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted in order to prosper through this industry over short and long terms. The quantitative analysis includes our authentic findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID 19 impact, the Gum Turpentine Oil market report also includes the following data points:
• COVID19 Impact on Gum Turpentine Oil market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Gum Turpentine Oil market
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Key Players
Some of the major Gum Turpentine Oil players holding high market share include HTPL, Privi Speciality Chemicals Limited, Ratnaka Resins Pvt. Ltd., Mahendra Rosin. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• HTPL
• Privi Speciality Chemicals Limited
• Ratnaka Resins Pvt. Ltd.
• Mahendra Rosin
• Turpentine Pvt. Ltd.
• Tung Viet Chemicals Corporation
• Merck KGAA
• Menthaallied
• Punjab Rosin And Chemicals Works
• PT. Naval Overseas
Segmental Analysis
Market Segment By Type with focus on market share, consumption trend, and growth rate of Gum Turpentine Oil Market:
o Wood Turpentine
o Sulphate Turpentine
o Fat Turpentine
o Carbonization Turpentine
Market Segment By Application with focus on market share, consumption trend, and growth rate of Gum Turpentine Oil Market:
o Adhesives & Sealants
o Rubber
o Paints & Coatings
o Perfumes/ Fragrances
o Pharmaceutical Products
o Others
Parameters Details
Market Size (2022) $ 1.1 Billion
CAGR (2023 to 2033) 7.2%
Market Segmentation Type, Application
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America
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Global Gum Turpentine Oil Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic Countries
o Benelux
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Australia
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence provides an understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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