Global Tall Oil Fatty Acid market segments 2024, Forecast To 2033
12 Feb, 2024
The tall oil fatty acid market has experienced robust growth, advancing from $1.05 billion in 2023 to $1.12 billion in 2024, with a compound annual growth rate (CAGR) of 6.4%. The significant growth in the historic period is linked to the influence of the pulp and paper industry, manufacturing of soap and detergents, expansion in the chemical industry, utilization in industrial lubricants, and the increasing demand for renewable and bio-based products. Looking ahead, the market is poised for strong growth, reaching $1.47 billion in 2028 at a CAGR of 7.0%. The anticipated growth in the forecast period can be attributed to factors such as sustainable sourcing, initiatives promoting green chemistry, the continued growth of bio-based products, emphasis on recycling and the circular economy, and the rising demand for biodegradable and eco-friendly products. Major trends expected in the forecast period include the adoption of green chemistry, innovations in specialty chemicals, advancements in tall oil extraction, expanding applications in personal care and cosmetics, and increased industry collaboration and partnerships.
Global Tall Oil Fatty Acid Market Key Driver
The tall oil fatty acid market is anticipated to witness growth due to the increasing demand for tall oil-based biofuel. Tall oil, a byproduct of the pulp and paper industry, is utilized in the production of biofuels, contributing to reduced greenhouse gas emissions. The demand for transportation-grade crude oil-based biofuels is expected to surge from 320,000 tonnes per year in 2019 to 880,000 tonnes per year in 2030, indicating significant growth prospects for the tall oil fatty acid market.
Get A Free Sample Of The Global Tall Oil Fatty Acid Market ReportGlobal Tall Oil Fatty Acid Market Segments
The global 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
By Geography: The regions covered in the Tall Oil Fatty Acid market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North Americawas the largest region in the tall oil fatty acid market in 2023. Asia-Pacificis 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.
Major Tall Oil Fatty Acid Industry Players
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, Shaxian Lixin Resin Co. Ltd., Aditya Birla Chemicals (Thailand) Limited, DIC Corporation, Allnex Belgium SA, WestRock Company, Lintec of America Inc., Segezha Pulp and Paper Mill, BASF SE, Reichhold LLC, Sika AG, Sinopec Baling Company Limited, Eternal Materials Co. Ltd., Chang Chun Plastics Co. Ltd., Kukdo Chemical Co. Ltd., Kyocera Chemical Corporation, 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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Tall Oil Fatty Acid Market Overview
Tall oil fatty acid (also known as liquid rosin or tallow) is a light-colored tall oil fatty acid obtained by fractional distilling crude tall oil. It is obtained from crude tall oil, a by-product of the Kraft paper pulping process, and is used where long-chain fatty acids are required, such as in soaps and detergents, lubricants, fuel additives, paints and coatings, and plastics.
Tall Oil Fatty Acid Global Market Report 2023 provides data on the global tall oil fatty acid market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The tall oil fatty acid market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.