Mineral Turpentine Market: Introduction
- Mineral turpentine is a petroleum-derived clear liquid that is used as a solvent in the paints industry. It is insoluble in water with a characteristic odor akin to kerosene. The most commonly available mineral turpentine is a mixture of saturated aliphatic acid and alicyclic hydrocarbons with boiling range of 130?C to 230?C.
- Mineral turpentine is also known as white spirit, mineral spirit, and petroleum spirit. It is categorized based on the crude oil used and process of distillation followed. These categories are low flash grade, medium grade, and high flash grade. The composition is dependent on the starting material percentage and process used for manufacturing.
- Mineral turpentine is primarily used as a solvent in paint thinners. Paints need solvents to change characteristics such as thickness, viscosity, and hardness. When used as solvent, mineral turpentine provides good flexibility over the thickness and hardness of the paint. Mineral turpentine is used as solvent in the oil paints category. It is also used as solvent in small amounts in water-based paints. Mineral turpentine is also employed as extraction solvent, cleaning solvent, and degreasing solvent in paints, construction, chemicals, and automobile industries.
Key Drivers of Mineral Turpentine Market
- The automotive ancillary industry requires significant maintenance for machines and tools used in the manufacture of products. These machines and operating tools need regular cleaning in order to function well. Mineral turpentine is used as a solvent to remove oil, grease, dirt, and loose particles from machines. Application of premium paints and coatings in the automobile industry has been rising across the globe. Growth in demand for mineral turpentine in the automobile industry is expected to boost the global mineral turpentine market.
- Paint products are used significantly in the construction industry. Commercial and residential construction buildings require paint products after every few years. The construction industry is expected to expand at a rapid pace over the next decade, led by economic development and higher disposable income of the population. This is estimated to augment the demand for mineral turpentine during the forecast period.
Key Restraint of Mineral Turpentine Market
- The industry is concerned about health-related issues caused by mineral turpentine. Inhalation of mineral turpentine in excess amount can lead to serious health issues such as kidney damage, lung damage, vomiting, sleeplessness, and headache. People suffering from asthma and lung-related issues should avoid the contact of mineral turpentine. This can act as a major restraint for the global mineral turpentine market.
Covid-19 Impact on Mineral Turpentine Market
- The Covid-19 pandemic has had a severe impact on the mineral turpentine market. The mineral turpentine market is completely dependent on end-use industries such as paints, automotive, and construction. Production facilities of these industries were halted during the lockdown period. Even after the easing of the lockdown, these industries are not operating at full capacity due to restrictions and safety policies implemented by governments. However, demand for mineral turpentine in automotive and construction industries has been rising as the pandemic is losing its intensity in several regions. This is anticipated to boost the market in the near future.
Global Mineral Turpentine Market: Regional Outlook
- Based on region, the global mineral turpentine market can be classified into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific
- Asia Pacific is expected to be the major region of the global mineral turpentine market during the forecast period. Growth in automobile and manufacturing industries in developing countries in Asia Pacific is expected to boost the mineral turpentine market in the region.
- The market in Middle East & Africa is anticipated to expand at a faster pace due to economic development and rapid population growth. Significant investment in the construction industry is anticipated to boost the mineral turpentine market in the region.
- The market in North America, Latin America, and Europe is estimated to expand at a sluggish pace due to outsourcing of manufacturing to Asia Pacific; and slower growth in construction and automobile industries
Key Players Operating in Global Market
Key players operating in the global mineral turpentine market include:
- Royal Dutch Shell
- Total SA
- Idemitsu Kosan Co. Ltd.
- Exxon Mobil Corporation
- GSB Chemical Co. Pty. Ltd
- HCS Group
- DHC Solvent Chemie GmbH
- Al Sanea
- Merck KGaA
- Recochem Inc.
Global Mineral Turpentine Market: Research Scope
Global Mineral Turpentine Market, by Type
- Solvent Extracted
Global Mineral Turpentine Market, by Application
- Paint Thinner
- Extraction Solvent
- Cleaning Solvent
- Degreasing Solvent
Global Mineral Turpentine Market, by End-use Industry
- Paints & Coatings
Global Mineral Turpentine Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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The following regional segments are covered comprehensively:
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3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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