CCM recently released a report, Consumption of Gum Turpentine in China, its data showed gum turpentine (GT) are under strong demands in China.
According to the analysis of this report, the production volume of GT kept decreasing since the cancellation of export tax rebates in 2007. The negative effect of the cancellation lasts long in Chinese GT industry, leading to sharp and continuous downslide in GT output. The export-oriented companies turn to domestic market for the narrowing profits in exportation without tax rebates. Massive funds running into Chinese market put the GT companies in a harsh position and many small sizes manufacturers shutdown, which greatly reduces manufacturers' confidence.
On the other hand, demands of GT poise strong in the Chinese market. GT is mainly used in the production of terpene resins, pinene, synthetic camphor, terpeneol, pine oil, synthetic borneol, and so on. Terpene resins is mainly consumed in domestic market, and other derivatives including synthetic camphor, synthetic borneol, terpeneol, pine oil and synthetic perfume are mainly for export. The apparent consumption of GT kept increasing stably during 2004 to 2009, with CAGR of double digit.
The wider application of GT can be predicted according to the present consumption trend and CCM's report forecast on a greater demand of GT in China.
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