In 2023, the import value of terpenic oils, crude dipentene, and paracymene to the US was recorded at approximately 1.07 million USD. Moving forward, a marginal yearly decrease is observed in the forecast from 2024 to 2028. Specifically, the value drops from 1.0357 million USD in 2024 to 0.90259 million USD in 2028. This represents an anticipated contraction with a negative compound annual growth rate (CAGR) over the five-year period. The decline is indicative of potential shifts in market demand, supply chain dynamics, or competitive factors in these sectors.
Future trends to observe include:
- Variations in global supply and demand for terpenic oils and related compounds.
- Environmental regulations impacting production and importation.
- Technological advancements that could influence sourcing efficiencies or substitutes.
- Geopolitical influences affecting trade agreements and tariffs.
