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Tall Oil Fatty Acid Market Growth and Regional Share, Trends, Competitor Analysis through 2030

08-04-2020 05:07 PM CET | Industry, Real Estate & Construction

Press release from: insightSLICE

Tall Oil Fatty Acid Market

Tall Oil Fatty Acid Market

The tall oil fatty acid is an unsaturated long chained fatty acid widely used as a source of low boiling point fatty acids across multiple industry verticals. Primarily used in synthetic industrial lubricants, the tall oil fatty acid is an affordable, low rosin and consistent source of liquid fatty acids. Tall oil fatty acids are used in industrial applications such as alkyd resins, fuel additives, surfactants, dimer acids, cleaners, lubricant esters, paints, oil field chemicals and so on. The Global Tall Oil Fatty Acid Market was valued at US$ 830 million in 2019. The prime elements of tall oil fatty acids are linoleic acid and oleic acid with small quantities of stearic, linolenic, and palmitic acids.

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The prime application of tall oil fatty acid is in the production of raw petroleum. With increasing momentum in the petrochemical industry during past couple of decades, the demand for tall oil fatty acids has increased significantly. However, the demand for tall oil fatty acid is anticipated to be impacted due to the prevalence of COVID-19 across the globe. Rising demand for tall oil fatty acids form soap & detergent, and biodiesel production industry is expected to drive the growth of the global tall oil fatty acid market during the forecast period. The global tall oil fatty acid market is expected to witness significant growth during the forecast period.

Strong demand for oleic acid to drive the growth of global tall oil fatty acid market

The global tall oil fatty acid market is segmented on the basis of product type, applications, end use, and geography. Based on product type, the global tall oil fatty acid market is segmented into oleic acid, linoleic acid, maleic acid, stearic acid, and others. The oleic acid contributed a prominent share to the global tall oil fatty acid market in 2019 and is expected to grow significantly during the forecast period. The linoleic acid segment is anticipated to grow significantly during the forecast period owing to rising demand form multiple end use industries.

Soap & detergent segment to drive the growth of global tall oil fatty acid market

Based on end use, the global tall oil fatty acid market is segmented into soaps & detergents, coatings, lubricants, plastics, fuel additives, metal working fluids, adhesives, asphalt additives, biofuels, and others. The lubricants segment contributed a dominating share to the global tall oil fatty acid market in 2019 owing to strong demand from petroleum production industry and is expected to witness prominent growth during the forecast period. The soap & detergent segment contributed a prominent share to the global tall oil fatty acid market in 2019 and is expected to grow significantly during the forecast period.

Based on geography, the global tall oil fatty acid market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed a dominating share to the global tall oil fatty acid market in 2019 owing to strong demand from petroleum production, and manufacturing industry. The North America tall oil fatty acid market is anticipated to witness steady growth rate during the forecast period. Asia Pacific contributed a prominent share to the global market and is expected to be the most lucrative geography during the forecast period owing to the expansion of manufacturing industry, increasing investment in biofuels and increasing petroleum exploration activities across major countries.

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Major players active in the global tall oil fatty acid market include Arizona Chemical Company LLC, Ashburn Chemical Technologies, Ashland Inc., BASF SE, Chemical Associates Inc., Colgate-Palmolive Company, Coral Chemical Company, Cray Valley USA, LLC, Eastman Chemical Company, Florachem Corporation, Forchem Oy, Georgia-Pacific Chemicals LLC, Harima Chemicals Group, Inc., Henkel AG & Co. KGaA, MeadWestvaco Corporation, Nalco Holding Company, Procter & Gamble Company, QualiChem, Inc., Torgoviy Dom Lesokhimik, Umicore N.V., Unilever, and UPM-Kymmene Oyj.

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