An increase in number of applications of tall oil fatty acid is being noted in the world. This is set to drive growth in the global tall oil fatty acid market over the coming few years. Additionally, a shift is also observed in consumer preference towards this product from tallow oil fatty acid and it is anticipated to be a notable growth factor.
As per Transparency Market Research, “The compound annual growth of the market over the forecast period of 2019 to 2027 will be 4.2%. The market worth would grow as a result of this robust growth projection. From USD 882.15 million in 2018, the market valuation will grow up to USD 1.2 billion by the end of the forecast period.”
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Key Findings of Global Tall Oil Fatty Acid Market Study:
- Increase in research and development (R&D) and growing applications of tall oil fatty acid market will lead to growth
- North America and Europe will be notable regional market over the forecast period of 2019 to 2027
- Renewable fuels are seeing an increase in demand and that is leading to tall oil fatty acid market’s growth
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Key Drivers of Growth in Global Tall Oil Fatty Acid Market:
- Opportunities in the global tall oil fatty acid market are being created by the increasing demand for renewable fuels world over
- Growing need for oleic acid is being noted in the world and this is encouraging market growth
- An accelerating factor of growth in the market will be increasing production of crude oil in a number of countries
Regional Analysis of Global Tall Oil Fatty Acid Market:
- Major share of the market will be held by Europe and North America over the next few years and a notable reason is that of easy availability of raw materials
- The United States of America is anticipated to be a major growth propeller in the North American region over the forecast period
- Promising growth rate would be recorded by the Asia Pacific (APAC) region over the forecast period
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Competitive Landscape of Global Tall Oil Fatty Acid Market:
Key global tall oil fatty acid market players include Harima Chemicals Group, Inc., Forchem Oy, MeadWestvaco Corporation, Georgia Pacific LLC, and Arizona Chemical Company, LLC, among others. These are evaluated in the market report prepared by Transparency Market Research. The report also consists of other crucial details like recent developments in the market, top growth strategies of these players, and financials.
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Most top-tier players, who operate in the vendor landscape of this market depend largely on supply agreements and market goodwill to lay claim to large revenue shares. It is significant to note here that in this market, a handful of players command a sizeable share and that smaller players do not create much discomfort for established ones. The latter derive benefits of economies of scale to keep threats in check by producing product at low costs. Investments towards research and development (R&D) activities are high and increasing.
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Global Tall Oil Fatty Acid Market: Research Scope
Global Tall Oil Fatty Acid Market, by Product
- Oleic acid
- Linoleic acid
- Others (Including linoleic acid, maleic acid, and stearic acid)
Global Tall Oil Fatty Acid Market, by Application
- Dimer acid
- Alkyd resin
- Fatty acid ester
- Others (Including dimer acid and fatty acid soaps)
Global Tall Oil Fatty Acid Market, by End User
- Soap & detergents
- Fuel additives
- Metal working fluid
- Others (Including adhesives, asphalt additives, and biofuel)
Global Tall Oil Fatty Acid Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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