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Tallow fatty acids market Growth, Analysis, Key Players are BASF, AkzoNobel, VVF L.LC., Godrej Industries, Chemol, Baerlocher
Tallow Fatty Acids Market
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North America tallow fatty acids market accounted for 30% of the global share in 2016. Such exponential regional growth can be attributed to favorable government regulations towards ensuring health and hygiene across manufacturing facilities. Moreover, robust automotive manufacturing & sales in the United States will fuel product demand for rubber processing applications.
Asia Pacific tallow fatty acids market is likely to gather commendable gains by 2024 due to expanding end-user industries such as construction, automotive and electronics. Prominent players contributing towards the global tallow fatty acids industry share are BASF SE, AkzoNobel, Emery Oleochemicals, Godrej Industries, LG Household and Healthcare, Acme-Hardesty, Colgate Palmolive, Vantage Oleochemicals, Chemithon Enterprises, among others.
A sharp rise in soap and detergent consumption will expedite the adoption of tallow fatty acids owing to their superior cleansing, conditioning, and moisturizing properties. This segment contributed to an annual valuation of USD 500 million in revenues for tallow fatty acid producers in 2016. Additionally, the worldwide cleaning market inclusive of these industries is likely to achieve significant growth rate in the coming years owing to government support towards maintaining hygiene and cleanliness throughout the manufacturing facilities to ensure healthy work surroundings.
Tallow fatty acid is vitally used as an anti-tacking agent to offer enhanced stabilizing, lubricating, gelling, and anti-caking features in rubber and plastic industries. The constant demand for these products in packaging, automotive, electronics, and construction business will further drive the industry trends.
A report from Global Market Insights, Inc. states that the global tallow fatty acids market size is anticipated to surpass USD 3 billion by 2024.
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https://www.globenewswire.com/news-release/2019/10/09/1927158/0/en/FT-Wax-Market-to-reach-USD-1-2-Billion-mark-by-2025-Global-Market-Insights-Inc.html
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Global Market Insights, Inc.
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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.
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