Global Mineral Turpentine
Market Report
2025
The global Mineral Turpentine market size will be USD 7154.6 million in 2024. Growing demand for natural solvents in various industries are expected to boost sales to USD 10757.87 million by 2031, with a Compound Annual Growth Rate (CAGR) of 6.00% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Mineral Turpentine Market Report 2024.
According to Cognitive Market Research, the global Mineral Turpentine market size will be USD 7154.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
---|---|---|---|---|---|---|
Global Mineral Turpentine Market Sales Revenue | 121212 | $ 7154.6 Million | 121212 | 121212 | 121212 | 6% |
North America Mineral Turpentine Market Sales Revenue | 121212 | $ 2861.84 Million | 121212 | 121212 | 121212 | 4.2% |
United States Mineral Turpentine Market Sales Revenue | 121212 | $ 2257.99 Million | 121212 | 121212 | 121212 | 4% |
Mexico Mineral Turpentine Market Sales Revenue | 121212 | $ 260.43 Million | 121212 | 121212 | 121212 | 4.7% |
Canada Mineral Turpentine Market Sales Revenue | 121212 | $ 343.42 Million | 121212 | 121212 | 121212 | 5% |
Europe Mineral Turpentine Market Sales Revenue | 121212 | $ 2146.38 Million | 121212 | 121212 | 121212 | 4.5% |
Germany Mineral Turpentine Market Sales Revenue | 121212 | $ 424.98 Million | 121212 | 121212 | 121212 | 4.7% |
France Mineral Turpentine Market Sales Revenue | 121212 | $ 197.47 Million | 121212 | 121212 | 121212 | 3.7% |
Spain Mineral Turpentine Market Sales Revenue | 121212 | $ 176 Million | 121212 | 121212 | 121212 | 3.6% |
United Kingdom Mineral Turpentine Market Sales Revenue | 121212 | $ 360.59 Million | 121212 | 121212 | 121212 | 5.3% |
Russia Mineral Turpentine Market Sales Revenue | 121212 | $ 332.69 Million | 121212 | 121212 | 121212 | 3.5% |
Italy Mineral Turpentine Market Sales Revenue | 121212 | $ 184.59 Million | 121212 | 121212 | 121212 | 3.9% |
Rest of Europe Mineral Turpentine Market Sales Revenue | 121212 | $ 332.69 Million | 121212 | 121212 | 121212 | 3.2% |
Asia Pacific Mineral Turpentine Market Sales Revenue | 121212 | $ 1645.56 Million | 121212 | 121212 | 121212 | 8% |
India Mineral Turpentine Market Sales Revenue | 121212 | $ 197.47 Million | 121212 | 121212 | 121212 | 9.8% |
Korea Mineral Turpentine Market Sales Revenue | 121212 | $ 164.56 Million | 121212 | 121212 | 121212 | 7.1% |
Japan Mineral Turpentine Market Sales Revenue | 121212 | $ 227.09 Million | 121212 | 121212 | 121212 | 6.5% |
China Mineral Turpentine Market Sales Revenue | 121212 | $ 740.5 Million | 121212 | 121212 | 121212 | 7.5% |
Australia Mineral Turpentine Market Sales Revenue | 121212 | $ 85.57 Million | 121212 | 121212 | 121212 | 7.7% |
Rest of APAC Mineral Turpentine Market Sales Revenue | 121212 | $ 116.83 Million | 121212 | 121212 | 121212 | 7.8% |
South America Mineral Turpentine Market Sales Revenue | 121212 | $ 357.73 Million | 121212 | 121212 | 121212 | 5.4% |
Peru Mineral Turpentine Market Sales Revenue | 121212 | $ 29.33 Million | 121212 | 121212 | 121212 | 5.6% |
Colombia Mineral Turpentine Market Sales Revenue | 121212 | $ 31.84 Million | 121212 | 121212 | 121212 | 5.2% |
Argentina Mineral Turpentine Market Sales Revenue | 121212 | $ 60.1 Million | 121212 | 121212 | 121212 | 6.3% |
Brazil Mineral Turpentine Market Sales Revenue | 121212 | $ 153.11 Million | 121212 | 121212 | 121212 | 6% |
Chile Mineral Turpentine Market Sales Revenue | 121212 | $ 25.76 Million | 121212 | 121212 | 121212 | 5.7% |
Rest of South America Mineral Turpentine Market Sales Revenue | 121212 | $ 57.59 Million | 121212 | 121212 | 121212 | 4.5% |
Middle East and Africa Mineral Turpentine Market Sales Revenue | 121212 | $ 143.09 Million | 121212 | 121212 | 121212 | 5.7% |
Egypt Mineral Turpentine Market Sales Revenue | 121212 | $ 15.02 Million | 121212 | 121212 | 121212 | 6% |
Turkey Mineral Turpentine Market Sales Revenue | 121212 | $ 12.31 Million | 121212 | 121212 | 121212 | 5.2% |
Rest of MEA Mineral Turpentine Market Sales Revenue | 121212 | $ 16.88 Million | 121212 | 121212 | 121212 | 4.7% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Application |
|
Market Split by Product type |
|
Market Split by End-use |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Market Drivers:
| |
Market Restrains:
| |
Market Trends:
|
Report scope is customizable as we have a huge database of Mineral Turpentine industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Mineral Turpentine Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Mineral turpentine, commonly known as mineral spirit, is a mixture of petroleum hydrocarbons. It is a clear, colorless liquid that is non-corrosive and chemically stable. It is used as a solvent and diluent in the following industries: paint and varnish, textiles, metal cleaning, and rubber. Moreover, the increased usage of mineral turpentine in end-use sectors such as paints and coatings, adhesives, and inks and dyes has boosted global market demand. Mineral turpentine is widely utilized in solvent applications such as cleaning solvents, degreasing solvents, and aerosol solvents due to its interaction with aliphatic and alicyclic hydrocarbons. Other uses for mineral turpentine include wood preservative solvents, varnishes, and lacquer solvents. The paint industry is the greatest consumer of mineral turpentine due to its widespread use as a paint thinner and cleaning agent for paintbrushes. All of these reasons contribute to the growth of the worldwide mineral turpentine market
The growing demand for natural solvents in multiple industries significantly propels the Mineral Turpentine market. With the increasing emphasis of consumers and manufacturers on eco-friendliness and sustainability, mineral turpentine finds a place at the forefront as it is extracted from natural sources such as pine resin. Paint industries, cosmetics, and pharmaceuticals are shifting towards natural solvents to adhere to regulations and meet consumer demand for safe environmental options. It, hence, makes the mineral turpentine more attractive to the market, pushing innovation around its application. As companies work toward reducing their environmental footprint, demand for natural solvents like mineral turpentine is likely to rise, further fanning the growth of the market.
The growing application of mineral turpentine in the paint and coatings industry acts as one of the another major driver for this market. Mineral turpentine works as a good solvent, improving the use and performance properties of paints and coatings by enhancing their flow and drying properties. The demand for high-quality paints is growing with the booming construction and automobile industries. Moreover, this demand is further enhanced by the trend toward decorative and protective coatings in residential and commercial settings. As manufacturers strive to formulate improved paint products, the reliance on mineral turpentine as one of the raw materials remains on the rise, thereby pushing the mineral turpentine market forward.
Availability of the alternative solvents that are more environmentally friendly is an important restraint that restricts the market growth of the mineral turpentine market. In the process of much of the craze, substitution efforts from renewable resources happen to present fewer toxic properties and better biodegradability. The alternatives would be friendlier environmentally, less toxic, and better in terms of biodegradable properties, therefore appealing more to the green consumers and eco-minded regulatory bodies. The inclination with time and development toward these friendly options will slowly reduce the demand for mineral turpentine. This not only means a great difference in market dynamics but also challenges mineral turpentine producers to root for further innovation in sync with changing consumer preferences, which is not easy and might even slow general market growth.
Impact of COVID-19 on the Mineral Turpentine Market: This is mainly due to disruptions in the supply chain and reduced demand from other end-user industries. A lot of manufacturing sectors were closed or produced at very low capacity during the pandemic. This, in turn, led to a reduction in the consumption of mineral turpentine, which is the major solvent correlator for the industries of paints, coatings, and adhesives production. Moreover, transportation and logistic constraints had hurt the distribution of mineral turpentine, hence, fluctuating the prices and availability. In this regard, as the economy is gradually trying to get back on its feet and industries have started their operations, the demand scale is now reflected, majorly from some of the main consumers like construction and automobiles that have moved for returning to positive growth.
We have various report editions of Mineral Turpentine Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The Mineral Turpentine market is competitive, with several important players and a mix of established and developing organizations. To address the different industry needs, major manufacturers prioritize increasing production efficiency and expanding their product portfolios. Companies are also spending in R&D to develop eco-friendly versions of mineral turpentine in response to the increased demand for sustainable products. Strategic alliances and collaborations are also prevalent, with the goal of strengthening distribution networks and market reach.
In August 2022, Bharat Petroleum Corporation Limited has announced an increase in its refining capacity, which includes the manufacturing of mineral turpentine and other specialized solvents. This move intends to address rising demand from a variety of industries, including paints and coatings, and increase their market share in the solvents business. (Source: https://www.business-standard.com/companies/news/bpcl-plans-to-invest-rs-1-7-trn-to-expand-core-business-new-energy-foray-124081800106_1.html) In March 2022, As part of its commitment to sustainability, Indian Oil Corporation Ltd. introduced a new line of environmentally friendly solvents, including mineral turpentine. This program is intended to meet the increasing need for greener alternatives in industrial applications, in line with worldwide trends toward environmentally friendly products. (Source: https://www.iocl.com/NewsDetails/59356)
Top Companies Market Share in Mineral Turpentine Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue. This is because of its well-established industrial foundation and high demand from the paint and coatings industry. The region's strong manufacturing skills and high solvent usage for a variety of industries, including automotive and construction, have been significant drivers. Furthermore, the emphasis on innovation and the development of environmentally friendly products has helped to enhance the market position.
Asia Pacific is the fastest-growing region in the Mineral Turpentine market, owing to rising industrialization and urbanization. Countries such as China and India are experiencing rapid growth in their construction, automotive, and industrial sectors, resulting in an increased need for solvents. The region's growing population and rising disposable incomes are boosting demand for paints, varnishes, and adhesives
The current report Scope analyzes Mineral Turpentine Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
According to Cognitive Market Research, the global Mineral Turpentine market size was estimated at USD 7154.6 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 2861.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
According to Cognitive Market Research, the global Mineral Turpentine market size was estimated at USD 7154.6 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 2146.38 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.
According to Cognitive Market Research, the global Mineral Turpentine market size was estimated at USD 7154.6 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 1645.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
According to Cognitive Market Research, the global Mineral Turpentine market size was estimated at USD 7154.6 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 357.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031. .
According to Cognitive Market Research, the global Mineral Turpentine market size was estimated at USD 7154.6 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 143.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031..
Global Mineral Turpentine Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Mineral Turpentine Industry growth. Mineral Turpentine market has been segmented with the help of its Application, Product type End-use, and others. Mineral Turpentine market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, in 2023, the paint thinner application generated the most revenue. Mineral turpentine is made from petroleum distillate, which makes it suitable for use as a solvent in paint thinners, increasing demand for mineral turpentine in these applications.
The milled carbon fiber category is expected to grow the fastest during the projected period. Milled carbon fiber is a reinforced material composed of glass fiber or chopped carbon with a length smaller than 1mm. It is commonly utilized to enhance the mechanical properties of composite materials.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Mineral Turpentine Industry. Request a Free Sample PDF!
According to Cognitive Market Research, wood Turpentine dominates the Mineral Turpentine market. This may be due to the wide usage of wood turpentine across various applications such as paints, varnishes, and as a solvent in chemical processes. While keeping in view the fact that the distillation of pine resin obtains it, wood turpentine becomes easy to obtain and cheap to produce for the manufacturers. Its versatility and high performance in dissolving make it leading in the market.
Gum Turpentine is the fastest-growing segment. This is due to the increased demand for natural and eco-friendly products from industries such as cosmetics and pharmaceuticals. Gum turpentine, extracted from the resin of specific trees, has been rapidly under focus due to its natural origin and is thus applied considerably as a solvent and in fragrance manufacturing.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
According to Cognitive Market Research, the Paint segment commands the major share of the Mineral Turpentine market. This is attributed to the primary use of mineral turpentine as a solvent in the formulation of paints and varnishes. Basically, it is used in this application to dissolve resins and oils. It is an essential component in the manufacture of fine paint products. Growing construction and automotive industries that rely significantly on paint applications also reinforce the strong demand in this segment.
The Medicine segment is the fastest-growing in the industry. Growth in this sector is attributed to the growing use of mineral turpentine within the pharmaceutical industry in formulation and as a solvent for a number of active ingredients in medicinal products. Emphasis on health and well-being, coupled with the public's demand for natural and potent medicinals, injects growth into this category.
Senior Research Analyst at Cognitive Market Research
• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.
Manoj Phagare is a dynamic and results-driven research analyst with a passion for transforming raw data into actionable insights. Armed with a solid foundation in market research and data analysis and working in various domains including chemical & materials and paints & coatings. He thrive on the challenge of uncovering patterns, trends, and opportunities that drive strategic decision-making.His analytical mindset, coupled with effective communication skills, allows him to bridge the gap between data analysis and practical business applications.
In his current role, Manoj is a key player in market research and competitive analysis. He have a proven track record of synthesizing disparate data sources, employing statistical models, and delivering comprehensive insights. He have played a pivotal role in shaping evidence-based strategies that fueled the success of key business initiatives and Collaborating with cross-functional teams.Manoj remains an invaluable asset in the dynamic landscape of market research.
Conclusion
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Application | Paint Thinner, Extraction Solvent, Cleaning Solvent, Degreasing Solvent, Others |
Product type | Fat Turpentine, Sulphate Turpentine, Wood Turpentine, Gum Turpentine |
End-use | Paper, Paint, Medicine, Dyes, Other |
List of Competitors | Bharat Petroleum Corporation Limited, Sydney Solvents, GSB Chemical Co. Pty. Ltd, Global Petro, Indian Oil Corporation Ltd, Al Sanea, Powerzone Oil, ALSHALL INTERNATIONAL CO., DHC Solvent Chemie GmbH, Hindustan Petroleum Corporation Limited |
This chapter will help you gain GLOBAL Market Analysis of Mineral Turpentine. Further deep in this chapter, you will be able to review Global Mineral Turpentine Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Mineral Turpentine. Further deep in this chapter, you will be able to review North America Mineral Turpentine Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Mineral Turpentine. Further deep in this chapter, you will be able to review Europe Mineral Turpentine Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Mineral Turpentine. Further deep in this chapter, you will be able to review Asia Pacific Mineral Turpentine Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Mineral Turpentine. Further deep in this chapter, you will be able to review South America Mineral Turpentine Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Mineral Turpentine. Further deep in this chapter, you will be able to review Middle East and Africa Mineral Turpentine Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Mineral Turpentine. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Application Analysis 2019 -2031, will provide market size split by Application. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Application Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Product type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by End-use Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Mineral Turpentine market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Paint Thinner have a significant impact on Mineral Turpentine market? |
What are the key factors affecting the Paint Thinner and Extraction Solvent of Mineral Turpentine Market? |
What is the CAGR/Growth Rate of Fat Turpentine during the forecast period? |
By type, which segment accounted for largest share of the global Mineral Turpentine Market? |
Which region is expected to dominate the global Mineral Turpentine Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|