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Tall Oil Fatty Acid Market Explores New Growth Opportunities from 2017 to 2024

Author : Ronak Bora | Published Date : 2019-05-03 

As per the report by Global Market Insights, Inc., “Worldwide Tall Oil Fatty Acid Market was valued USD 800 million in 2017 and will surpass a revenue collection of USD 1 billion by 2024 with an annual growth rate of 4% over 2017 to 2024.”

Tall Oil Fatty Acid Market 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.

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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.

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.

Tall oil fatty acid market segmentation on the basis of products is done into oleic acids, linoleic acids, and other carboxylic acids such as palmitic acids, stearic acids, etc. Oleic acids will hold sway in the coming years owing to extensive usage in manufacturing soaps as well as in fuel additives and corrosion inhibitors in oil rigs.

Linoleic acid will also account for a significant share of the global tall oil fatty acid market in 2024 owing to its wide application range in paints & coatings, and adhesive & sealant manufacturing. This segment will witness a healthy growth with a CAGR close to 4.5% in the forecast span.

Product usage in manufacturing intermediate chemicals including fatty acid esters, dimer acids, alkyd resins, and others including monomer and trimer acids, ethoxylates, and amines characterizes the tall oil fatty acid market application segment.

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Fatty acid esters will record over a quarter of the overall tall oil fatty acid market in 2024, exhibiting growth at CAGR more than 4% in the given forecast spell. It finds a wide range of application in manufacturing personal care products and developments in the commercialization and acceptance of biodiesel will further enhance the segment.

Rising product significance in oilfields makes lubricants, fuel additives, and metal working fluids highly developing end-use sectors with CAGR close to 5% in the forecast span. Plastics and coatings end-use segments together will record above USD 350 million for the global tall oil fatty acid market in 2024.

Europe tall oil fatty acid market 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.

Browse key industry insights spread across 145 pages with 207 market data tables & 14 figures & charts from the report, “Tall Oil Fatty Acid Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/tall-oil-fatty-acid-market

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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