Global Tung Oil market size will increase to 330 Million US$ by 2025, from 270 Million US$ in 2018, at a CAGR of 2.6%by Valuates Reports
Global Tung Oil market size will increase to 330 Million US$ by 2025, from 270 Million US$ in 2018, at a CAGR of 2.6% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Tung Oil.
View full Report: https://reports.valuates.com/sreport/QYRE-Auto-13129/Global_Tung_Oil_Market_Insights_Forecast_to_2025
Oleaginosa RAATZ, Wuzhou Oasis Chemicals and Xunyang Mingwen Oil are the leaders of tung oil industry.Oleaginosa RAATZis a global leader. In 2017, the production of Oleaginosa RAATZ was 44489 ton, and the company held a production share of 50.6%. In Europe and the United States, Oleaginosa RAATZ and Wuzhou Oasis Chemicals are the market leader.Downstream customers such as Liberon, AkzoNobel, and American Wood Oil use products from both companies. Tung oil is mainly used for wood finishing, electronic and pesticide. In 2017, wood finishing application held 91% of the consumption market share.
Tung oil seeps into the grain of the wood, giving it a perpetual wet look that highly accentualizes the grain of the wood, commonly referred to as "making the grain pop". Because of this, the color of the wood is slightly darkened, giving the wood a rich, warm color that is very pleasing. In the past few years, the production of Chinese tung oil is declining. QYR interviewed the chairman and manager of the major manufacturers. In addition, QYR also interviewed local growers. QYR believes that the industry is not an exciting industry. From 2009 to 2017, China's tung oil production is declining due to the reduction in planting area. For manufacturers, they have spent a lot of time and money for buying raw materials, but the profits are indeed meagre. At the same time, this product is not indispensable for wood finishing protection industry. As growers, they can't get more profits than other jobs .Growers are reluctant to plant tung trees, which makes Chinese tung oil continue to decline.
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The following manufacturers are covered in this report:
Wuzhou Oasis Chemicals
Xunyang Mingwen Oil
Qiubei County Shuanglong Oil
Jinxing Tung Oil
Tung Oil Breakdown Data by Type
Raw Tung Oil
Boiled Tung Oil
Tung Oil Breakdown Data by Application
Tung Oil Production Breakdown Data by Region
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