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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
  • Cepsa
  • GSB Chemical Co. Pty. Ltd
  • Neste
  • HCS Group
  • DHC Solvent Chemie GmbH
  • Al Sanea
  • Merck KGaA
  • Recochem Inc. 

Global Mineral Turpentine Market: Research Scope

Global Mineral Turpentine Market, by Type

  • Hydrodesulfurized
  • Solvent Extracted
  • Hydrogenated

Global Mineral Turpentine Market, by Application

  • Paint Thinner
  • Extraction Solvent
  • Cleaning Solvent
  • Degreasing Solvent
  • Others

Global Mineral Turpentine Market, by End-use Industry

  • Paints & Coatings
  • Automotive
  • Chemicals
  • Construction

Global Mineral Turpentine Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

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?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Mineral Turpentine Market

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