Global Terpene Market Size By Resins Type, By End-Users, By Geographic Scope And Forecast

Terpene Market Size And Forecast

Terpene Market was valued at USD 536.45 Million in 2020 and is projected to reach USD 1.01 Billion by 2028, growing at a CAGR of 8.30% from 2021 to 2028.

Terpenes are in high demand due to their effectiveness and growing demand from end-user industries. The Global Terpene Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Terpene Market Definition

Terpenes are a large and diverse class of organic compounds produced by a variety of plants, especially conifers, as well as some insects, such as termites and swallowtail butterflies, which emit terpenes from their osmeteria. They have a strong odour and may protect the plants that produce them by repelling herbivores and attracting herbivore predators and parasites.

Terpenes get their name from turpentine, which is made from pine tree resin and contains resin acid and hydrocarbons. Terpenes are a type of hydrocarbon that is produced by both plants and animals. It’s also a naturally occurring compound made up of isoprene subunits. Isoprene is a hydrocarbon with five carbon atoms and eight hydrogen atoms attached. Terpenes can be classified into hemiterpenes, monoterpenes, diterpenes, tetraterpenes, and other types based on the isoprene unit.

Terpenes have a strong odour and are resistant to a wide range of chemicals. As a result, it’s widely used in a variety of applications. In industrial applications, it is used as an essential oil, as well as a fragrance and flavoring agent. The market is being driven by increased demand for terpene in end-use industries such as cosmetics, food & beverages, paints & coatings, rubber, and pharmaceuticals. However, market growth is being hampered by fluctuations in terpene supply and high extraction costs.

Global Terpene Market Overview

Terpenes are super popular because they work well and lots of industries want them! Think rubber and adhesive companies using terpene resin as tackifiers and for processing polymers. And get this, the pulp and paper industry, along with the ink and coating folks, are expected to want even more terpene resin, which should really boost the Terpene Market worldwide. Why the fuss? Well, terpene resin is non-toxic, effective, and doesn't react with much. The catch? It's pricey to make, so there's not a ton of it. That high cost might actually slow down the whole global terpene resin thing, since some people might not want to pay so much.

Hoping for stronger trade and investments worldwide? These macroeconomic improvements could really boost global terpene production. Now, COVID-19? That's been a tough one. It messed with economies all over, hitting industries like cosmetics and food & drinks hard. Lockdowns meant less need for those products, and that meant less need for terpene resins too. But hey, it's not all bad news! Terpenes are also used in pharmaceuticals as flavoring, and that's expected to help the market grow. So, while the overall Terpene Market might be shrinking right now, things should pick up big time after the lockdowns ease. We're predicting a significant rise in global demand for terpene resins during the forecast period.

Looking ahead, we think companies making terpene resins are in a good spot to grow! That's because more and more industries are swapping out their old, hydrocarbon-based resins for these terpene alternatives. Plus, terpene resins are safe and don't react with other chemicals, making them perfect for things like food and medicine. This is really helping the market grow worldwide. And get this – more industries, like cosmetics, food & drinks, paints & coatings, rubber, and pharmaceuticals, are wanting terpene! But, there are a couple of bumps in the road. It's harder to get your hands on terpene resins compared to the usual stuff, and pulling them out of the source costs a lot more. So, that might slow things down a bit.

We're seeing the global Terpene Market gear up for some serious growth! Why? Well, industries like pulp and paper, ink, and coating are clamoring for more terpene resin. Plus, terpenes offer some fantastic health perks—think antibacterial, antibacterial, and even anti-carcinogenic benefits. And with the pharmaceutical market booming, that's only adding fuel to the fire. You'll find terpene resin popping up everywhere, from rubber and adhesives to food and pharmaceuticals, and even in the pulp and paper we use every day. So, yeah, with all these industries finding new uses for it, expect the Terpene Market to keep expanding during the coming years.

Global Terpene MarketSegmentation Analysis

The Global Terpene Market is segmented based on Resins Type, End-Users, and Geography.

Terpene Market, By Resins Type

• Liquid Terpenes• Solid Terpenes

The Terpene Market? Well, it's basically split into two categoriesliquid terpene resin and solid terpene resin. And guess what? Liquid terpene resin is likely going to be the star of the show! That's because it's just better than the solid stuff. Think about itit has good ageing resistance, a strong cohesive force, is resistant to radiation, acid, heat, and alkali. Plus, it's got some excellent dielectric properties and is even nontoxic! All these awesome qualities mean that the demand for liquid terpenoid is through the roof. So, you'll find liquid terpene resin popping up everywhere, from pressure sensitive tapes and paints to printing inks, chewing gums, and even those sticky rubber adhesives.

Terpene Market, By End-Users

• Food & beverages• Cosmetics• Pharmaceutical• rubber

Based on End-Users, the market is bifurcated into Food & beverages, cosmetics, pharmaceutical, and rubber. Terpenes have a variety of health benefits, including antimicrobial, antiseptic, and even anti-carcinogenic properties. As a result, the pharmaceutical industry is rapidly expanding. The increased use of flavors in dietary supplements, pharmaceuticals, and nutraceuticals is expected to boost the market growth.

Terpene Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

The Terpene Market is broken down regionally into the Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Asia Pacific's Terpene Market is getting a real boost from the growing demand for aromatic compounds in places like China, Japan, and India. Over in Latin America and the Middle East and Africa, they also hold a pretty significant chunk of the market, mainly because industries like rubber, food, and beverages are using more terpenes. Looking ahead, it seems like everyone's craving new and exciting flavors, and that's definitely going to keep the demand for terpenes high. Plus, in North America, we've got some major players in the terpene game, which is also helping the market grow.

Key Players In Terpene Market

The “Global Terpene Market” study report will provide valuable insight with an emphasis on the global market. The major players in the Market are Yasuhara Chemical Co. Ltd., P.T. Naval Overseas, Himachal Terpene Products Pvt. Ltd., Interstate Commodities Corp., Foreverest Resources Ltd., BASF SE, Baolin Chemical Industry, Neostar United Industrial Co., Ltd., and Skyrun Industrial Co., Ltd., Kraton, and Natural Fractions. The competitive landscape section also includes key development strategies, Market share, and Market ranking analysis of the above-mentioned players globally.

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