Turpentine is a fluid obtained by the distillation of resin harvested from living trees, mainly pines. It is mainly used as a solvent, and as a source of material for organic syntheses.

Turpentine is composed of terpenes, primarily the monoterpenes alpha- and beta-pinene, with lesser amounts of carene, camphene, dipentene, and terpinolene.

The word turpentine derives from the Greek word "terebinthine". Mineral turpentine or other petroleum distillates are used to replace turpentine -- although their chemistries are very different.

One of the earliest sources of turpentine was the terebinth or turpentine tree, a Mediterranean tree related to the pistachio. Important pines for turpentine production include: maritime pine, Aleppo pine, Masson's pine, Sumatran pine, longleaf pine, loblolly pine and ponderosa pine.

To tap into the sap producing layers of the tree, turpentiners use a combination of hacks to remove the pine bark. Once debarked, pine trees secrete oleoresin onto the surface of the wound as a protective measure to seal the opening, resisting exposure to micro-organisms and insects, and preventing vital sap loss. Turpentiners wound trees by making V-shaped cuts down the length of the trunks to channel the oleoresin into containers. The V-shaped cuts are called "catfaces" because of their resemblance to a cat's whiskers. The resin is then collected and processed into spirits of turpentine.

More Info: en.wikipedia.org