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Tall Oil Fatty Acid Market Size will witness tremendous growth over the forecast timeframe

Author : Ronak Bora | Published Date : 2019-06-03 

Tall Oil Fatty Acid Market Size has generated a substantial momentum over the years on grounds of its wide application spectrum across end-use industries as a source of naturally derived fatty acid.  Owing to its extensive usage as bio renewable feedstock, tall oil fatty acid has become a major by-product of pulp production. Tall crude oil generated from tall oil fatty acids are widely being used as additives in the fossil diesel, which has further created renewed avenues for tall oil fatty acid industry. A report compiled by Global Market Insights. Inc., foresees tall oil fatty acid market to register a CAGR of more than 4% over the period of 2017-2024 and seize a revenue of more than USD 1 billion by 2024.

Tall oil fatty acid is the by-product derived from the manufacturing of paper & pulp. Pine trees and other coniferous trees are the prime raw materials used for obtaining tall oil fatty acid. In a Kraft mill, tall oil is the third largest chemical by-product after lignin and hemicellulose.

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Tall oil fatty acid is mainly used in the manufacturing of alkyd resins, dimer acid and fatty acid esters. Dimer is a significant intermediate chemical used as fuel additives in oilfields and lubricants. Alkyd resins is also a prominent segment holding a major share in the worldwide tall oil fatty acid industry. Finding extensive usage in the paint and coatings industry, the alkyd resins accounted for over one third of the overall industry share and is projected to grow at an annual rate of 4% over 2017-2024.

The growing popularity of tall oil fatty acid as oilfield chemicals over tallow oil products derived from animals in the lubricants and fuel additive sectors has significantly favored the industry trends. As per the estimates, tall oil fatty acid market size from lubricants and fuel additives is projected to record a CAGR of 4.5% over the period of 2017-2024, having collected revenue over USD 150 million in 2016.  Accounting for more than a quarter of the overall tall oil fatty acid industry share in 2016, soap & detergents end-use industry is likely to witness a moderate growth over the coming years.

North America tall oil fatty acid market covered over 40% of the regional revenue share in 2016. U.S. will be the prominent revenue contributor of this region, subject to the easy availability of raw material. The increasing shale gas exploration activities across U.S. will also account for the regional tall oil fatty acids market to flourish at an attractive growth rate.

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Europe tall oil fatty acid market size will account for above a third of the global share by 2024 owing to the absence of other natural fatty acid products. The region will also exhibit a significant growth owing to prevalence of several paper and pulp mills, which provide crude tall oil as by-products of kraft pulping process.

Tall oil fatty acid market is highly consolidated with the top five companies, Lintech International, Arizona Chemical Company, Georgia Pacific, Harima Chemicals, and Forchem, accounting to more than 75% of the overall share.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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