Analysis of the current situation and future development trend of import and export, demand and demand of China's turpentine industry in 2023 - CICC Qixin (Beijing) International Information Consulting Co., Ltd. - Guotong Survey Report Network is an authoritative supplier of professional industry data analysis reports, project feasibility reports and special research, providing domestic and foreign enterprises with all-round, multi-angle data-based market planning and evaluation surveys Strategic data analysis feasibility study reports, welcome to inquire 400-1050-986
Turpentine is a co-product of rosin in the process of producing rosin through the primary processing process, because the rosin produced in the mainland is mainly resin rosin, so the main source of turpentine in the mainland is also resin turpentine. Resin turpentine can be used for large-scale fine chemical production and is one of the important chemical raw materials in mainland China. The main components of turpentine are α-pinene and β-pinene, and the vast majority of turpentine is separated into monomer substances by distillation, and then processed and utilized by more in-depth secondary, tertiary or multiple chemical deep processing to produce chemical intermediates such as synthetic camphor and borneol, and forest chemical products such as synthetic spice raw materials.
(1) Production and import and export status: due to the co-product attributes of turpentine, there is a strong correlation between the output of mainland turpentine and the output of mainland rosin, and about 0.13-0.26 tons of turpentine can be obtained at the same time for every 1 ton of rosin produced. From 2021 to 2022, mainland turpentine production will be 76,000 tons and 82,000 tons, respectively. Due to the increase in rosin production in 2022, turpentine production increased by 7.89% compared with 2021.
According to the data of the General Administration of Customs, the import volume of turpentine on the mainland is higher than the export quantity, while the export volume of turpentine is relatively limited. In 2022, the export volume of turpentine from mainland China decreased significantly, down 66.61% from 2021, mainly due to the price competition in the turpentine market at home and abroad.
(2) The current situation of domestic turpentine demand: According to industry practice, rosin producers in various producing areas generally retain part of the turpentine inventory at the end of the year, and the price of turpentine fluctuates. Rosin producers are cautious about when to sell turpentine, preferring to sell their stocks when turpentine prices are high. From 2021 to 2022, the year-end stocks of turpentine in mainland China were 40,000 tons and 37,000 tons, respectively.
The inventory, import and export situation and output of turpentine can comprehensively reflect the supply and demand situation of the turpentine market. According to the statistics of CICC, the overall demand for turpentine in the mainland domestic market can be calculated by "annual output of turpentine + imported turpentine/pinene in the current year + inventory at the end of the previous year - inventory at the end of the current year". From 2021 to 2022, the overall domestic demand for turpentine will be about 76,600 tons and 88,800 tons, respectively, and the demand for turpentine in the turpentine deep processing industry will be 77,000 tons and 86,000 tons, respectively (the amount of pinene as a raw material for deep processing is not included in the statistics).
Analysis of the current situation of turpentine demand in the turpentine deep processing industry from 2020 to 2022
Data collation: CICC Enterprise Credit International Consulting
Among the downstream turpentine deep-processing products, the deep-processed products with a large demand for turpentine raw materials include synthetic camphor, synthetic spices and terpineol. Among them, the demand for turpentine in the synthetic camphor industry is the highest, and the demand for turpentine in the synthetic camphor industry in 2022 will reach 38.37% of the total market demand for turpentine. The deep-processed products with the second largest demand for turpentine in mainland China are synthetic fragrance products, which are mainly used in the production of daily chemical products such as perfumes, shower gels, hand sanitizers and beauty and skin care.
(5) Industry development trend: Since the development of the industry, the mainland has been relatively mature in the collection, inspection and primary processing technology of pine resin at the upstream end of the industrial chain, and the focus of development has gradually shifted to the middle of the industrial chain of rosin and turpentine deep processing and utilization. In 2022, the output of rosin and turpentine in mainland China will be 410,000 tons and 82,000 tons respectively, and the demand for rosin in domestic rosin deep processing and other industries will be 426,000 tons, excluding the demand for 24,000 tons of exports, 18,000 tons from other industries, and 72,600 tons of imported rosin, the actual demand for domestic rosin in the deep processing of mainland rosin is about 311,400 tons. The proportion of mainland rosin into the deep processing link reached 73.10%, and the utilization rate of turpentine deep processing was nearly 100%, and the mainland has gradually become a major country in the production, utilization and export of rosin and turpentine deep processing products.
The mainland has many advantages such as pine forest resources, pine species, rich germplasm resources, wide distribution of pine resources, diverse natural environment and climate of resin harvesting, more types of deep processing products, and rapid progress in deep processing technology. With its own pine forest resources, mastering the supply of raw materials, further developing new technologies for deep processing, and covering new application fields, rosin deep processing enterprises will have greater initiative in the industry.
At the same time, if domestic rosin deep processing enterprises can continue to narrow the gap in technical quality with foreign high-end rosin deep processing products through the progress of rosin deep processing technology, they can reduce their dependence on imports in the field of higher value-added products and meet domestic demand with domestic production. Rosin deep processing enterprises that can rely on technological innovation and progress to promote the development of the domestic rosin deep processing market to a market dominated by medium and high-end products are expected to consolidate and enhance their market position.
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