Press release
Gum Turpentine Market to Reach USD 1.90 Billion by 2030, Growing at 8.4% CAGR
Gum Turpentine Market
The Global Gum Turpentine Market is projected to grow from USD 1.08 billion in 2023 to approximately USD 1.90 billion by 2030, driven by a robust CAGR of 8.4 %. Thirst for solvents in paints, adhesives, fragrances, and pharmaceuticals fuels this surge, with the Africa-Middle East region emerging as a major growth frontier due to increased infrastructure activities.
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►Growth & Opportunity: Gum Turpentine Growth in United States
In the United States, rising demand in paints & coatings, pharmaceuticals, and personal care underpins market momentum. Domestic producers, including Kraton Corporation, Ingevity Corporation, and Berje, leverage sustainable tapping methods to meet environmental standards. Notable M&A includes Ingevity's acquisition initiatives to expand its rosin and resin capacity, reflecting a strategic push for regional consolidation and enhanced production scale.
►Opportunity & Trends: Gum Turpentine Opportunities in Asia Pacific
Asia Pacific holds the strongest growth potential, reflecting accelerated industrialization and urban living. Countries like China, India, Japan, and South Korea record surging usage in adhesives, printing inks, and fragrances. Kraton Corporation leads joint ventures with local pine resin harvesters, while Ingevity Corporation is expanding manufacturing infrastructure to meet fast-rising demand.
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►Consolidation & Demand: Gum Turpentine Consolidation in Middle East & Africa
The Middle East and Africa region is rapidly scaling, especially in paint thinner, cleaning, and degassing solvent sectors. With a market size of USD 143.1 million in 2024 and a 5.7 % CAGR until 2031, GCC and South Africa lead growth. Consolidation moves include M&A between local resin producers and global firms aiming to reinforce regional supply chains and enter construction markets.
►Updation & Innovation: Gum Turpentine Trends in Europe
Europe displays stable growth, backed by stringent environmental policies. Key players like Berje, Kraton, and Ingevity are adopting bio-based processing and greener extraction technologies. They're partnering with forestry authorities in Scandinavia and Iberia to enhance supply transparency and eco-credentials-ensuring compliance with REACH and sustainability goals.
►Competitive Landscape: Major Players Leading the Way
Kraton Corporation, Ingevity Corporation, and Berje dominate, focusing on eco-friendly raw materials.
Strategic initiatives include capacity expansion, mergers, and product line extensions tailored to paints, adhesives, fragrance, and pharmaceuticals markets.
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► Market Segmentation: In-Depth Analysis:
• by Packaging
Bottles
Drums
Cans
The gumturpentine industry was divided into three segments: bottles, drums, and cans. These were regarded as the three packing methods. This segmentation takes into account variables including consumer preferences for various container formats, product safety, and convenience. In the packaging market, drums held the most share, followed by bottles and cans.
• by Distribution Channel
Direct sales
Distributors
Wholesalers
Online retail
The four main categories of the gum turmeric market are distributors, wholesalers, direct sales, and online retail. The distribution network and the favored channels for Gum Turpentine products are revealed by this segmentation. The most popular distribution method was direct sales, which is predicted to increase in the future. Additionally, there is a lot of room for internet shopping to increase its market share.
• by Application
Paints and Coatings
Adhesives
Fragrance
Pharmaceuticals
• by End-User
Construction
Automotive
Healthcare
Personal care
The main segments of the gumturpentine market are construction, automotive, healthcare, and personal care. The various uses and demands for gumturpentine in various industries are reflected in the market segments based on these industries. The largest percentage and section leader is the construction industry. After construction, the automotive and healthcare industries gain market share.
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/gum-turpentine-market/194141/
► Learn about the top players driving innovation in the Market :
1. Georgia-Pacific Chemicals LLC - United States
2. International Flavors & Fragrances Inc. - United States
3. Kraton Corporation - United States
4. Ingevity Corporation - United States
5. Berje.Inc - United States
6. Weyerhaeuser Company - United States
7. Harting S.A. - Spain
8. DRT (Derives Résiniques et Terpéniques) - France
9. Domsjö Fabriker AB - Sweden
10. Symrise AG - Germany
11. Lawter - Netherlands
12. UPM Biochemicals - Finland
13. Torgoviy Dom Lesokhimik Ltd. - Russia
14. Sociedad Española de Resinas Naturales S.A. (SERNAR) - Spain
15. Ingevity South Africa (Pty) Ltd. - South Africa
16. Ingevity Brazil Quimica Ltda. - Brazil
17. Gujarat Pine Chemicals - India
18. Arakawa Chemical Industries, Ltd. - Japan
19. Wuzhou Sun Shine Forestry & Chemicals Co., Ltd. - China
20. Mentha & Allied Products Pvt. Ltd. - India
21. Guilin Songquan Forest Chemical Co., Ltd. - China
22. Shandong Yuhuang Chemical Co., Ltd. - China
23. Wuzhou Pine Chemicals Ltd. - China
24. Forestar Chemical Co., Ltd. - China
25. Pine Chemical Group - China
26. Deqing Jixin Pine Chemical Co., Ltd. - China
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