Press release
Crude Tall Oil Market to Witness an Outstanding Growth by 2024 - 2031 | Citec Group Oy Ab, Ingevity Corporation
Crude Tall Oil Market
The Global Crude Tall Oil Market size is expected to reach US$ 3 Bn by 2031, from US$ 1.93 Bn in 2024, growing at a CAGR of 6.5% during the forecast period.
Market Dynamics:
The global crude tall oil market is expected to witness significant growth over the forecast period owing to rising demand for biofuels. Crude tall oil is a sustainable source of bioenergy and has found increasing usage as an alternative to fossil fuels. It can be blended with diesel or used directly as a fuel. Growing awareness regarding the benefits of biofuels in reducing greenhouse gas emissions is also driving the demand for crude tall oil from the automotive industry. Additionally, growth in the construction industry has boosted the consumption of crude tall oil-based adhesives, sealants, and lubricants over the years.
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Crude Tall Oil Market Drivers
Increasing Demand for Dimer Acids from Adhesive Industry
Dimer acids are primarily used in hot melt adhesives, reactive adhesives, and pressure-sensitive adhesives. Crude tall oil is a major raw material used in dimer acid production. The global adhesive industry has been witnessing strong growth over the past few years. According to industry experts, the global adhesive market size was valued at over USD 60 billion in 2020 and is projected to grow at over 4% annually until 2028. As the adhesive industry continues to grow, the demand for dimer acids from this industry is also increasing significantly. This rising dimer acid demand acts as a major driver for the crude tall oil market.
Crude Tall Oil Market Opportunity
Emerging Application in Biofuels Production
Various organizations and academic institutes are carrying out extensive research on utilizing crude tall oil in biofuel applications such as biodiesel and sustainable aviation fuel production. As biodiesel from crude tall oil contains a high smoke point, excellent oxidation stability, and lower NOx emissions compared to biodiesel from other common feedstocks, it is considered a potential alternative transportation fuel. With growing emphasis on low-carbon fuels worldwide, the commercialization of crude tall oil-based biofuels production holds strong market opportunities over the forecast period.
Crude Tall Oil Market Trend
Rising Adoption of Bio-Based Products
Manufacturers across the globe are facing increasing pressure to shift from petroleum-based products to more sustainable bio-based alternatives due to tightening environmental regulations. Crude tall oil is a co-product of the Kraft pulping process and can be used to produce a wide range of bio-based products like resins, emulsifiers, additives, lubricants, etc. The market has been witnessing substantial growth in demand for bio-lubricants, phenolic resins, pine chemicals, and other crude tall oil derivatives. Also, several initiatives like regulations on fossil fuel use and investments in renewable chemical production are stimulating the adoption of bio-based materials. This growing trend is likely to create lucrative opportunities for market participants over the coming years.
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Top Companies Featured in This Report:
★ Citec Group Oy Ab
★ Ingevity Corporation
★ Georgia-Pacific Chemicals
★ Forchem Oyj
★ Kraton Corporation
Market Segmentation:
By Product Type:
★ By Distillation Process: Tall Oil Fatty Acids (tofa), Tall Oil Heads, Distilled Tall Oil, Tall Oil Rosin, Tall Oil Pitch
By Applications:
★ By Application: Painting And Coatings, Inks & Toners, Adhesives, Vehicle Tires, Hygiene Commodities, Substitutes For Antibiotics, Mining, Chewing Gums, Electronics, Papermaking
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Trends in Navigation Keyword Market:
Market Growth: Expect significant expansion in the navigation keyword market, with a projected Compound Annual Growth Rate (CAGR) of 14.65% from 2024 to 2031.
Increasing Demand: Notice a surge in demand for navigation keywords due to the widespread adoption of GPS-enabled devices and the need for precise mapping data.
Technological Innovations: Witness innovative breakthroughs enhancing the accuracy and reliability of navigation keywords, such as real-time traffic updates, 3D mapping, and augmented reality.
Tailored Solutions: Explore industry-specific navigation keyword solutions designed to meet the unique needs of automotive, aviation, and maritime sectors.
Integration with Advanced Technologies: Embrace the integration of navigation keywords with cutting-edge technologies like artificial intelligence and the Internet of Things, unlocking advanced functionalities.
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Environmental Sustainability: Embrace environmentally conscious navigation keyword solutions that address issues like traffic congestion and air quality, promoting sustainable transportation options.
Report Highlights:
📈 Examination of navigation keyword market share at both country and regional levels
📈 Thorough analysis of the competitive landscape and emerging trends
📈 Detailed review of product advancements, technological developments, drivers, and limitations
📈 Strategic recommendations tailored for key business segments based on market insights
📈 Valuable guidance for newcomers venturing into the navigation keyword market
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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