The global tallow fatty acids market is expected to witness a sluggish growth in the coming years, according to a report published by Transparency Market Research (TMR). The market is currently packed with a large number of both local and international players. Vendors are seen focusing on developing quality products for the cosmetics industry, and are witnessing high demand from the burgeoning automotive industry for production of tires and rubber-based parts. Some of the prominent players operating in the global tallow fatty acids market are Baerlocher GmbH, VVF LLC, Acme-Hardesty Co., Vantage Specialty Chemicals, Inc., and BASF SE.
According to the report, the global market for tallow fatty acids is predicted to exhibit a 2.3% CAGR from 2014 to 2020. In 2013, the market was worth US$2.34 bn and is likely to touch a valuation of US$2.74 bn by the end of 2020.
Demand for tallow fatty acids held the largest share among the application segment of soaps and detergents in 2013. Demand for tallow fatty acids is primarily generated by the cleaning & detergents market. The cleaning products industry is expanding significantly across the globe. The industry is examining the environmental impact and “green focus” of cleaning products to meet the environmental challenge. The global cleaning products market offers products that are application-specific and focused on social and environment safety.
Segmented regionally, the market for tallow fatty acids in Asia Pacific and South America is likely to expand significantly due to the changing lifestyle of people and growing modernization. This segment was followed by the plastics end-user segment in 2013. Demand for tallow based fatty acids is estimated to rise in the next few years, due to increasing demand for plastics in end-user industries such as building & construction and packaging.
Rubber and Plastics to Demonstrate Potential Market Opportunity
Positive indicators of growth in the elastic and plastics industry is predict to boost the tallow fatty acids share in the coming years. The product is generally utilized as a part of the elastic and plastics industry by virtue of its capacity to offer balancing out, greasing up, gelling, and hostile to solidifying attributes. For example, crosswise over elastic handling the product (stearic acid) is utilized hostile to attaching and vulcanization specialists and in plastics it is utilized as added substances. In this manner, raising elastic and plastic demand from different end-client enterprises, for example, packaging, building and development, car and hardware will drive the worldwide tallow oil fatty acids showcase estimate soon.
Rising Awareness Towards Personal Grooming to Boost Growth
Contingent upon the nonattendance or nearness of twofold securities between carbon particles, tallow fatty acids can be ordered into monounsaturated and soaked fatty acids. The mono unsaturated fatty acids are fundamentally utilized as a fixing in the assembling of beautifiers and cleansers. Today, purchasers are more worried about their own well creatures and magnificence, which thus has quickened the cosmetic products industry. Thus, taking off beautifiers demand have energized the growth of monounsaturated tallow fatty acids industry share.
Fatty acids, for example, stearic acid, palmitic acid and oleic acid are broadly utilized as a part of manufacture of cleansers, in this manner expanding the business for cleansers and cleanser which thusly will help the development of general industry. Moreover, rising pervasiveness and stringent approach with respect to tidiness and cleanliness in the food and beverage and manufacturing sectors are predicted to aid the market development.
This review is based TMR’s report titled, “Tallow Fatty Acids (Saturated, Polyunsaturated, and Monounsaturated) Market for Soaps & Detergents, Rubber, Plastics, Personal Care Products, and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”Top of Form
The market is segmented along the following lines:
Tallow Fatty Acids Market - Product Segment Analysis
- Saturated Fatty Acids
- Stearic Acid
- Palmitic Acid
- Myristic Acid
- Monounsaturated Fatty Acids
- Polyunsaturated Fatty Acids
Tallow Fatty Acids Market - Application Analysis
- Soaps & Detergents
- Personal Care Products
- Others (Including Food and Lubricants)
Tallow Fatty Acids Market - Regional Analysis
- North America
- Rest of Asia Pacific
- Latin America
- Rest of the World
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