Crude Tall Oil Derivatives Market 2021-2026 Global Industry Outlook- Kraton corporation, Forchem Oyj, UPM, SunPine AB

The Global Crude Tall Oil Derivatives Market Report 2021-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend Crude Tall Oil Derivatives data that enhances the understanding, scope, and application of this report. The study includes market share analysis and profiles of players such as Kraton corporation, Forchem Oyj, UPM, Les Derives Resiniques Et Terpeniques, and SunPine AB.

The crude tall oil derivatives market is expected to register a CAGR of around 5% during the forecast period.

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Key Market Trends:

TOFA Segment to Dominate the Market

- Globally, the key producers and consumers of tall oil fatty acids are the EU and the United States. This implies that there is little net international trade in tall oil fatty acids, which resulted in an import dependence of zero.
- TOFAs have a production volume for use as lubricants of 2-kilo metric tons/annum in the EU and the majority of tall oil fatty acid production also takes place in the Nordic countries.
- Kraton Corporation, Ingevity, Chemceed, Forchem Oyj, Spectrum Chemical Mfg Corp, Industrial Oleochemical Products, and Parchem Fine & Specialty Chemicals are the notable players involved in the production of TOFAs.
- On October of 2017, the Environmental Protection Agency (EPA) enacted a regulation that establishes exemptions from the requirement of a tolerance for residues of TOFAs when used as inert ingredients (solvent/carrier) in the following circumstances:
- In pesticide formulations applied to growing crops and raw agricultural commodities after harvest.
- In pesticides applied in/on animals.
- In antimicrobial formulations for food contact surfaces
- Ingevity Corporation submitted a petition to EPA under the Federal Food, Drug, and Cosmetic Act (FFDCA), requesting establishment of these exemptions from the requirement of a tolerance. This regulation eliminates the need to establish maximum permissible levels for residues of tall oil fatty acids that are consistent with the conditions of these exemptions. These new exemptions have been encouraging the market growth in North America for the past two years.
- However, the recent COVID-19 outbreak has restricted the manufacturing of TOFA’s end-use products like paints, greases, lubricants, etc. This is likely to restrain the growth of the market studied.

United States to Dominate the North America Market

- The United States is the world’s largest and most powerful economy. In 2019, the economy grew by an annualized 1.9% in the third quarter of 2019. There were signs that the economy maintained a moderate pace of expansion as the year ended, supported by a strong labor market.
- However, the drastic outbreak of COVID-19 in the country has led to a downfall in the economic growth, owing to a fall in consumer spending and business shutdowns.
- The country is highly relied on, when it comes to R&D and innovation of advanced technologies. However, in the past decade, the country has seen the manufacturing sector drifting to other nations, such as Mexico, Canada, China, India, etc.
- In this regard, the present government has been making efforts to revitalize the manufacturing sector in the country and make the country a manufacturing hub of high-end products.
- In 2019, the United States recorded about a 3.7% decrease in automotive production, over 2018. Additionally, in 2019, the decline in automotive sales has been affecting the performance of the industry. This in turn led to decline in the production and sales of lubricants in the country recently. The refinery net lubricant production has reduced by almost 10% in 2018-19 in the country which in turn has reduced the consumption of crude tall in the country in recent years.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Crude Tall Oil Derivatives Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.                      

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