The competitive scenario of the global tall oil fatty acid market is marked by highly consolidated situations and intense competitions among the key players. These players are working efficiently and in a well-organized manner in terms of overall share of the global tall oil fatty acid market. In order to sustain their positions in the market, players are investing heavily in the R&D activities of more efficient and advanced varieties of the products. They are also making efforts to get into mergers and acquisitions and strengthen their in-house distribution chain of crude materials in order to expand their product portfolios. The other alternatives for example plant or animal-based fatty acid comes as a major hindrance to the market growth in coming years.
According to a recent report by Transparency Market Research, the global tall oil fatty acid market will expand at a steady CAGR of 4.2% within the forecast period from 2014 to 2022. The market is expected to soar around a worth of US$1,050.0 mn by the end of forecast period.
In terms of product type, the global tall oil fatty acid market is segmented into oleic acid, linoleic acid, maleic acid, and stearic acid. Out of these, the oleic acid and linoleic acid segments hold the majority of the share of global market. As per the application, alkyd resins segment leads the tall oil fatty acid market. Geographically, Europe and North America region are estimated to account for key share of the tall oil fatty acid market in the coming years. The solid development of these regions can be ascribed to the high and simple accessibility of crude materials. The rising commitment from the U.S. is considered as another main driver that is probably going to improve the development of the market in the upcoming years. Moreover, a noteworthy surge in the production limit of pulp and paper industry is estimated to help the market development.
Increased R&D Activities to Make Europe a Leading Region
One of the major factors working for the global tall oil fatty acids market is the risen use of these fatty acids over various applications in the raw petroleum production area. Attributable to the rising development of raw petroleum over in various regions across the globe, the increase of tall oil fatty acids has likewise picked up the pace considerably. The pattern is foreseen to be sustained throughout the following couple of years also, with the enduring rise in R&D activities in Europe, North America, and the Middle East giving consistent development prospects. The surging demand for oleic acid, is considered as one of the central point that is foreseen to energize the development of the global tall oil fatty acid market in the coming years.
High Demand in Soaps and Detergents Sector to Support Market Growth
The market is likewise expected to profit by the rising demand of tall oil fatty acids from the soaps and detergent sector. Nevertheless, the market is contrarily influenced because of the low penetration rate of tall oil fatty acid in various developing nations, particularly crosswise over regions, for example, Asia Pacific. While this could reduce the development prospects of the market to a degree, the expanded utilization of tall oil fatty acids for the making of biodiesel could exhibit solid development scope for the market.
The data and information presented is based on the findings of a TMR report, titled “Tall Oil Fatty Acid Market (Product Type - Oleic Acid, Linoleic acid, Linoleic Acid, Maleic Acid, and Stearic Acid; Applications - Dimer Acids, Alkyd Resins, Fatty Acid Esters, Dimer Acid, and Fatty Acid Soaps; End Use - Soaps and Detergents, Coatings, Lubricants, Plastics, Fuel Additives, Metal Working Fluids, Adhesives, Asphalt Additives, and Biofules) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022.”
- Oleic acid
- Linoleic acid
- Others (Including linoleic acid, maleic acid, and stearic acid)
- Dimer acid
- Alkyd resin
- Fatty acid ester
- Others (Including dimer acid and fatty acid soaps)
- Soap & detergents
- Fuel additives
- Metal working fluid
- Others (Including adhesives, asphalt additives, and biofuel)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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