Global Mineral Turpentine Market Size To Exceed USD 14.51 Billion By 2035 | CAGR of 5.55 %
Category: Chemicals & MaterialsGlobal Mineral Turpentine Market Size To Exceed USD 14.51 Billion By 2035
According to a research report published by Spherical Insights & Consulting, The Global Mineral Turpentine Market size is expected to Grow from USD 8.01 Billion in 2024 to USD 14.51 Billion by 2035, at a CAGR of 5.55 % during the forecast period 2025-2035.
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Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the" Global Mineral Turpentine Market Size, Share, and COVID-19 Impact Analysis, By Type (Type 1, Type 2, Type 3, and Type 0), By Application (Paint Thinner, Extraction Solvent, Cleaning Solvent, Degreasing Solvent, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/mineral-turpentine-market
The Term "Mineral Turpentine Market" Size refers to the production, trading, and consumption of mineral turpentine, a volatile organic solvent generated from petroleum that finds extensive use in commercial and industrial settings. Because of its efficient dissolving capabilities and comparatively low toxicity when compared to other chemical solvents, mineral turpentine, also referred to as white spirit, is a crucial solvent in paints, varnishes, coatings, adhesives, and cleaning agents. The market serves a variety of end-use industries, including construction, automotive, wood finishing, and chemical manufacturing, and includes several product grades, including technical, refined, and blended versions. The need for premium solvents like mineral turpentine is directly increased by the global expansion of the building, automotive, and furniture industries as well as the increase in paint and coating usage. The increasing need for low-VOC (volatile organic compound) and environmentally friendly solvents is another important motivator. Technological developments in manufacturing techniques also support market expansion. The quality, consistency, and efficiency of mineral turpentine have improved due to advancements in distillation and purifying methods, allowing for its broader use in a variety of industrial sectors. However, High costs, alternatives, volatile organic compounds, health risks, and severe environmental restrictions are all limiting considerations.
The Type 1 segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the type, the mineral turpentine market is divided into type 1, type 2, type 3, and type. Among these, the Type 1 segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Type 1 mineral turpentine contains hydrocarbons with carbon numbers ranging from C7 to C12 and is hydrodesulfurized. Because of its high boiling point (90–230°C), type 1 mineral turpentine is frequently employed as an extraction and cleaning solent.
The paint thinner segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the mineral turpentine market is divided into paint thinner, extraction solvent, cleaning solvent, degreasing solvent, and others. Among these, the paint thinner segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The need for mineral turpentine in pain thinner applications is fueled by its production from petroleum distillate, which makes it feasible to use as a solvent in paint thinner.
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Asia Pacific is expected to hold the majority share of the global mineral turpentine market during the forecast period.
Asia Pacific is expected to hold the majority share of the global mineral turpentine market during the forecast period. Manufacturers are being encouraged to use safer and more effective solvents like mineral turpentine as the region's focus on environmentally friendly and low-VOC products grows. Market potential is further enhanced by government programs that promote industrial growth and foreign investments in manufacturing industries. As a result, the Asia Pacific is the biggest and most significant market for mineral turpentine due to a combination of robust industrial demand, technology adoption, and regulatory assistance.
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North America is anticipated to grow at the fastest pace in the global mineral turpentine market during the forecast period. Mineral turpentine is becoming a preferred option for producers due to technological improvements in production and refining procedures that improve solvent quality and efficiency. High consumer expenditure, a robust industrial infrastructure, and the expansion of chemical manufacturing all support market expansion. Market expansion is also being fueled by strategic activities by major firms, such as alliances with regional distributors and expenditures in R&D.
Major vendors in the global mineral turpentine market are Al Sanea, Powerzone Oil, Sydney Solvents, Indian Oil Corporation Ltd, DHC, Solvent Chemie GmbH, ALSHALL International Co., Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Global Petro, GSB Chemical Co. Pty. Ltd, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the mineral turpentine market based on the below-mentioned segments:
Global Mineral Turpentine Market, By Type
- Type 1
- Type 2
- Type 3
- Type 0
Global Mineral Turpentine Market, By Application
- Paint Thinner
- Extraction Solvent
- Cleaning Solvent
- Degreasing Solvent
- Others
Global Mineral Turpentine Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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