Market Research Analysis Terpene Resin Market 2025 -Global Industry Trends | Page 2

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.
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These compounds have pharmaceutical applications which provide great opportunities for the market growth over
the forecast period. Some promising applications in the pharmaceutical sector include acne treatment therapies,
sleeping disorder drugs, and antiseptic agents. Segmentation is done based on the basis of its application which
includes, chemical feedstock, agricultural pesticides, food additives and aromatic agents.
North America has been the leading market in recent years in terms of demand and is expected to continue its
increasing application in pharmaceuticals and food processing industry. Further, regional demand is followed by Asia
Pacific mainly on account of increasing application of terpene in natural pesticide manufacturing. Development of
chemical manufacturing sector has helped in increasing the demand in emerging economies including India and China.
These emerging economies are expected to witness a significant growth in terms of production of terpene resins on
account of high investment in organic chemical manufacturing. Europe is expected to show a steady growth over the
forecast period with high demand as an additive in cosmetics. South America and Africa is expected to witness a
stagnant growth owing to the slow growth of overall development of application industries.
Major players operating in the market are ABI chemicals, Biosynth, Syntree, TCI, Finetech, Wilshire technologies and
BOC sciences. Companies are focussing on research and development in order to find out new applications for terpene
resins. This is expected to diversify the application portfolio and therefore propelling the demand in near future.
Market Segment: