Press release
Tall Oil Fatty Acid Market Set to Reach $1.61 Billion by 2029 with 0.0794476224415639% Yearly Growth
Tall Oil Fatty Acid Market Size
The tall oil fatty acid market is predicted to grow in the coming years, primarily due to the rise in demand for biofuels derived from tall oil. Often utilized in the creation of biofuels, tall oil is a byproduct of the pulp and paper industry. Numerous products use this type of biofuel, including pharmaceuticals, paints and coatings, lubricants, soaps, detergents, and various additives. Such usage not only cuts down on greenhouse gas emissions but also enhances the recycling of utilized materials. For example, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, projected in September 2024 that demand for tall oil would surge to 900 kb/d in 2024, a rise from 2.1 mb/d in the previous year. This projection brings the total demand to nearly 103 mb/d, with a further increase of 950 kb/d expected in 2025, despite modest growth. Therefore, the escalation in demand for tall oil-based biofuel is predicted to propel the tall oil fatty acid market forward.
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What is the future CAGR of the tall oil fatty acid market, and how will it impact industry expansion?
The market size for tall oil fatty acid has seen substantial growth in the past few years. This market is predicted to increase from a value of $1.11 billion in 2024 to around $1.18 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.1%. This leap in the historic phase is associated with factors such as the expansion of the pulp and paper sector, soap and detergent production, the growth of the chemical industry, the use of industrial lubricants, and the surge in renewable and bio-based products.
The market for tall oil fatty acid is projected to experience substantial growth over the coming years, expanding to a size of $1.6 billion by 2029 with a compound annual growth rate (CAGR) of 7.9%. This predicted growth for the period could be due to factors such as sustainable sourcing methods, initiatives in green chemistry, the expansion of bio-based products, recycling and circular economy practices, as well as the increase in biodegradable and environmentally friendly goods. Notable trends for this predicted period involve the adoption of green chemistry, innovation in specialty chemicals, advancements in the extraction of tall oil, expanding usage in personal care and cosmetic sectors, and collaborations and partnerships within the industry.
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What are the most significant trends transforming the tall oil fatty acid market today?
Advancements in technology are significantly influencing the tall oil fatty acid market. Key players in this industry are keen on developing tech-based solutions for tall oil fatty acids. Tech UK, a UK trade association representing the tech industry, reported in June 2024 that the UK tech sector houses 171 unicorns, with a market value set at $1.1 trillion, placing it at the top of the tech ecosystem in Europe. In 2023, tech startups based in the UK secured funds worth $21.3 billion. Most of these investments were in Greater London, and the East of England and the South-East trailed behind.
Which key market segments comprise the tall oil fatty acid market and drive its revenue growth?
The tall oil fatty acid market covered in this report is segmented -
1) By Product: Oleic Acid, Linoleic Acid, Other Products
2) By Application: Dimer Acid, Alkyd Resin, Fatty Acid Ester, Other Applications
3) By End User: Soaps And Detergents, Plastic Additives, Coatings, Lubricants, Fuel Additives, Other End Users
Subsegments:
1) By Oleic Acid: Industrial Applications, Personal Care Products, Food Industry
2) By Linoleic Acid: Nutritional Supplements, Cosmetics And Skincare, Food Industry
3) By Other Products: Stearic Acid, Unsaturated Fatty Acids, Fatty Alcohols
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What regions are at the forefront of tall oil fatty acid market expansion?
North America was the largest region in the tall oil fatty acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tall oil fatty acid market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the tall oil fatty acid market?
Major companies operating in the tall oil fatty acid market include Forchem Oy, Harima Chemicals Group Inc., Georgia-Pacific LLC, Eastman Chemical Company, Lascaray S.A., Chemical Associates Inc., Univar Solutions Inc., Claremont Chemical Company Limited, Pasand Speciality Chemicals Limited, Pine Chemical Group Oy, Aditya Birla Chemicals (Thailand) Limited, DIC Corporation, Allnex Belgium SA, WestRock Company, Segezha Pulp and Paper Mill, BASF SE, Reichhold LLC, Sinopec Baling Company Limited, Eternal Materials Co. Ltd., Ingevity Corporation, Arizona Chemical Ltd., Ataman Kimya AS, Foreverest Resources Ltd., G.C. Rutteman & Co. B.V., Imperial Industrial Minerals Company, Kraton Corporation
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What Is Covered In The Tall Oil Fatty Acid Global Market Report?
•Market Size Forecast: Examine the tall oil fatty acid market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the tall oil fatty acid market for a structured understanding.
•Key Players Overview: Analyze major players in the tall oil fatty acid market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the tall oil fatty acid market.
•Segment Contributions: Evaluate how different segments drive overall growth in the tall oil fatty acid market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the tall oil fatty acid market.
•Industry Challenges: Identify potential risks and obstacles affecting the tall oil fatty acid market.
•Competitive Landscape: Review strategic developments in the tall oil fatty acid market, including expansions, agreements, and new product launches.
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