1st October 2018: Global Terpene
Resin demand is expected to witness a steady growth on account of its
increasing applications as a high-value chemical. Various applications have
been identified which include cosmetics, food, pharmaceutical and biotechnology
chemicals. Terpene is a diverse class of organic compound produced by
coniferous trees. They are modified chemically to obtain terpenoids. They are
derived with the help of biosynthesis of isoprene having a molecular linkage
formula (C5H8)n. The isoprene units can be linked together through a linear
chain or in the form of rings.
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Usage
of terpene as a chemical feedstock is a major application driving the overall
demand. This organic compound is used in the manufacturing of turpentine, which
in turn is used as an industrial solvent and material source for organic
synthesis. Turpentine is widely used as a solvent with bee wax and as a
protective coating over the wood finish. Increasing application in the
manufacturing of natural agricultural pesticide is another major factor driving
the global terpene market. Many leading companies are investing in the
manufacturing and development of crop protection chemicals to exploit the
growth seen in the market. The growing demand for these products is forcing
global players to widen their portfolio by introducing new crop protection
offerings.
Further,
its application as a food additive has been driving the market demand in recent
years. They are used in liquid sweeteners, ice creams, and coffee based drinks.
Terpene resin is used to provide aromas to food and beverages. Cosmetic
products use terpene resins to achieve desired fragrances. Government
regulations and safety related to this organic compound offers a major
challenge for the overall industry growth. Availability of substitutes is
expected to hamper the growth of overall industry in near future. Advancement
of technology has resulted in the development of new additives and aromatic
agents which are expected to challenge this industry. There are significant
threats for the vendors due to backward integration by the end use industries.
Market Segment:
Geographically, this report is segmented
into several key Regions, with production, consumption, revenue (million USD),
market share and growth rate of Terpene Resin in these regions, from 2013 to
2025 (forecast), covering
•
North America
•
Europe
•
China
•
Japan
•
Southeast Asia
•
India
Global Terpene Resin market competition
by top manufacturers, with production, price, revenue (value) and market share
for each manufacturer; the top players including
•
Yasuhara Chemical
•
Baolin Chemical Industry
•
HWALONG
•
BOC Sciences
•
Skyrun Industrial Co., Ltd.
•
Qinmu Fine Chemical Co., Ltd.
•
Zhejiang J&C Biological Technology Co., Limited
•
Haihang Industry Co., Ltd.
On the basis of product, this report
displays the production, revenue, price, market share and growth rate of each
type, primarily split into
•
Liquid Type
•
Solid Type
On the basis of the end
users/applications, this report focuses on the status and outlook for major
applications/end users, consumption (sales), market share and growth rate for
each application, including
•
Rubber, Adhesive
•
Hot Melting Coating
•
Superior Printing Ink
•
Chewing Gum
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