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Tall Oil Fatty Acid Market to hit $1bn By 2024 | Eastman Chemical Company, Arizona Chemical, a Kraton Company, Georgia-Pacific LLC, Kraton Corporation, BASF, Lintech International
Tall Oil Fatty Acid Market
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Increasing demand for naturally derived fatty acid based biofuel may create new market avenues for overall tall oil fatty acid market in coming years. Several developed nations promote the usage of bio-based fuels in order to mitigate greenhouse emissions as well as to conserve the fossil fuel reserves. Acceptance of biofuel in all countries may take a few decades owing to varying economic conditions.
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Eastman Chemical Company
2. Arizona Chemical, a Kraton Company
3. Chemical Associates, Inc.
4. Georgia-Pacific LLC
5. Florachem Corporation
6. Lintech International
7. Harima Chemicals Group Inc
8. Forchem Oy
9. Segezha Pulp and Paper Mill, OJSC
10. OOO Torgoviy Dom Lesokhimik
11. Kraton Corporation
12. BASF
13. Industrial Oleochemical Products
14. Pasand Speciality Chemical - India
15. Shaxian Lixin Resin Co. Ltd.
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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.
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.
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
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.
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