Tallow Fatty Acids Market to grow at over 2.5% CAGR to reach $3bn by 2024
Tallow Fatty Acids Market share is set to reach USD 3 billion by 2024; according to a new research report by Global Market Insights, Inc. The global tallow fatty acids market size is positively influenced in the recent years due to elevating soaps & detergents across the globe.
Superior conditioning and cleansing properties of the product makes it an essential ingredient in the soaps & detergents, particularly used for industrial applications. In addition, the overall cleaning business, which substantially includes soaps & detergents, is likely to exhibit gains more than 7% CAGR on account supporting government towards maintaining cleanliness and hygiene across manufacturing facilities in order to ensure healthy working atmosphere.
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Escalating plastic and rubber demand various end-user businesses such as automotive, construction, packaging and electronics is another factor propelling the global tallow fatty acids market size in the coming years. In the rubber and plastic industry, the product is used as anti-tacking and vulcanization agents in order to enhance their lubricating, gelling, stabilizing and anti-caking properties.
The global tallow oil fatty acids market size is negatively influenced by strong product substitution threat offered by palm oil. In addition, drifting manufacturers focus towards manufacturing soaps, detergents and personal care products by vegetable oil on account of low cost involved in its production along with decent characteristics shall hamper the global tallow fatty acids market size by 2024.
Saturated tallow fatty acids market share is likely to experience growth overs 2% over the forecast timeframe. The product is chiefly used in rubber & plastics processing and in manufacturing soaps & detergents, pharmaceuticals and oilfield chemicals. Thus, robust demand for the abovementioned products will ultimately boost the industry growth by 2024. In 2016, monounsaturated led the global tallow fatty acids market share. Considerable product in cosmetics and soaps manufacturing was the major factor attributing industry growth.
Browse key industry insights spread across 130 pages with 152 market data tables & 13 figures & charts from this 2017 report Tallow Fatty Acids Market in detail along with the table of contents at:
In 2016, soaps & detergents was valued at over USD 500 million. Increasing product demand in soap manufacturing on account of its superior moisturizing and conditioning properties the was major factor propelling the global tallow fatty acids market share for soaps & detergents. Rubber is likely to exhibit growth over 2% from 2017 to 2024. The global tallow fatty acids market size for rubber will be mainly driven by elevating product demand as a vulcanizing agent. Furthermore, the product also helps in upgrading the rubber-metal adhesion, which is essential trait required in tire manufacturing.
In 2016, North America accounted for more than 30% of the global tallow fatty acids market share. The regional growth was mainly due to favoring regulations towards ensuring health & hygiene across manufacturing facilities. Furthermore, robust automotive manufacturing & sales in the U.S. will complement business growth for rubber processing applications. Asia Pacific is likely to experience maximum gains by 2024 particularly due to escalating end-user industries such as electronics, construction and automotive.
In 2016, the global tallow fatty acids market was fragmented with top players recording less than 30% of the business share. Major industry contributors are AkzoNobel, BASF SE, Emery Oleochemicals, Godrej Industries, Vantage Oleochemicals, LG Household and Healthcare, Twin Rivers Technologies, Acme-Hardesty, Chemol., FerroMac International, Colgate Palmolive, Chemithon Enterprises, Baerlocher GmbH. and H Foster & Co.
Browse Related Reports:
• Tall Oil Fatty Acid Market Share & Forecast, 2017 – 2024
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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