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Tall Oil Fatty Acid Market Demand By Product, CAGR Status, Top Trends and Leading Key Players
Tall Oil Fatty Acid Market
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Tall oil fatty acids market is segmented into three products namely oleic acid, linoleic acid, and other types including stearic acids, unsaponifiables, palmitic acids, and others. Oleic acid is anticipated to occupy a considerable share and this share will likely increase at a healthy rate during the forecast period due to its use in soaps, oil rigs and fuels. Linoleic acid segment is anticipated to grow by a CAGR of about 4.5%. This segment has a substantial share of global tall oil fatty acid market due to its usage in adhesives, paints, coatings, etc.
Tall oil fatty acid market application segmentation consists of dimer acids, alkyd resins, fatty acid esters, and other applications. Fatty acid esters application is anticipated to grow by about 4% CAGR in the forecast years. This segment will occupy about one fourth of the total market by 2024. Fatty acid esters find wide applications in personal care product manufacturing.
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Tall oil fatty acid market will be chiefly driven by products application as a corrosion inhibitor, lubricant and viscosity modifier in the oilfield sector. Growing petroleum demand in various industries such as aviation, automobile, etc. has led to a sharp increase in petroleum production in North America and Middle East. For instance, petroleum production per day increased by 3 million barrels from 2011 to 2015 in the U.S. Middle Eastern countries are also estimated to increase their petroleum production rates during the forecast years.
Europe is anticipated to be a prominent tall oil fatty acid market as other organic fatty acids are not commonly found there. Europe is expected to occupy about one third of total market by 2024. North America had around 40% share of the total tall oil fatty acid market in 2015 and will continue to be an important region for the industry growth.
Major Point From Table Of Content:
Chapter 4. Tall Oil Fatty Acid Market, By Product
4.1. Global tall oil fatty acid market share by product, 2016 & 2024
4.2. Oleic acid
4.2.1. Market estimates and forecasts, 2013 - 2024
4.2.2. Market estimates and forecasts by region, 2013 - 2024
4.3. Linoleic acid
4.3.1. Market estimates and forecasts, 2013 - 2024
4.3.2. Market estimates and forecasts by region, 2013 - 2024
4.4. Others
4.4.1. Market estimates and forecasts, 2013 - 2024
4.4.2. Market estimates and forecasts by region, 2013 - 2024
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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.
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