The Mineral Turpentine Oil prices trend in 2025 has followed a fairly stable path so far, although small changes in supply and demand have created a few bumps along the way. Mineral Turpentine Oil, also called MTO or white spirit, is a clear liquid solvent widely used in paints, varnishes, thinners, cleaning agents, and some chemical processes. It’s also used in industries like printing, rubber, and adhesives. Because of its wide industrial usage, the market for MTO reacts quickly to changes in raw material costs, fuel prices, and production cycles in end-user industries.
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In early 2025, Mineral Turpentine Oil prices were slightly firmer compared to the last quarter of 2024. This was mainly due to the steady rise in crude oil prices globally, which directly affects the production cost of MTO since it is derived from petroleum distillation. However, the rise wasn’t too steep because demand in some downstream sectors like paints and coatings was still recovering after a soft patch in late 2024. Most suppliers adjusted pricing slowly, and buyers didn’t experience any major shocks.
Asia continues to dominate the global MTO market, with India and China being two of the key producers and consumers. In India, prices of Mineral Turpentine Oil rose slightly in Q1 2025, mainly due to strong seasonal demand from the paints and coatings sector, which picks up in the first half of the year. The real estate sector also influences MTO pricing indirectly because a rise in construction work often leads to increased paint and thinner usage. On the other hand, China’s market showed more price stability due to controlled refinery outputs and sufficient stock levels.
In terms of segmentation, the biggest demand for MTO comes from the paints and coatings industry, followed by usage as an industrial solvent. Over the years, its use in domestic applications like cleaning fluids has declined due to health and safety concerns, but in large-scale industrial applications, it remains very important. Demand in the printing ink and adhesive industries also supports the market and contributes to pricing trends when those sectors are active.
When looking at the market outlook for 2025, the Mineral Turpentine Oil industry is expected to grow modestly. A lot depends on oil prices and how global manufacturing activity performs. If construction, automotive, and household product manufacturing pick up pace in the second half of the year, demand for MTO could also rise, putting slight upward pressure on prices. However, if crude oil prices stabilize or fall, MTO prices might ease as well, making it more accessible for small-scale users and exporters.
Major companies involved in the Mineral Turpentine Oil market include Indian Oil Corporation, Bharat Petroleum, Reliance Industries, Shell, and TotalEnergies. These companies control the refining processes and determine how much of their output is diverted toward MTO. Any change in their production volumes or maintenance shutdowns can affect supply and cause local prices to move up or down.
Environmental regulations are also starting to play a small role. Since MTO is a volatile organic compound (VOC), industries are under pressure to reduce emissions and shift to safer or lower-impact solvents. While these changes haven’t significantly hit the market yet, over time, stricter regulations could shape how much MTO is used, or how it is formulated, which could also influence prices in the coming years.
Overall, 2025 is looking like a steady year for Mineral Turpentine Oil. Prices may adjust slightly depending on oil costs, production cycles, and industrial activity, but no extreme spikes or drops are expected unless something major shifts in global crude markets. For now, both buyers and suppliers seem to be moving forward with cautious confidence, keeping an eye on raw materials and energy costs as the year progresses. To know more visit PriceWatch today.
