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Global Tall Oil Fatty Acid Market InsightApril 28, 2022 Comments
According to the WK-chem Research “Global Tall Oil Fatty Acid Professional Survey Report 2022, Forecast to 2027”, Rising product demand as lubricant, viscosity modifier, and corrosion inhibitor in the oilfield industry will boost the global tall oil fatty acid market in coming years. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.2% base on WK-chem Research regression analysis model.
“According to U.S. Energy Information Administration, U.S. increased consumption from automobiles, aircrafts, as well as industrial activities. Middle East countries including Saudi Arabia, UAE, Kuwait, Iran, Iraq accounted for more than a quarter of the global petroleum production and it will increase several folds in the forecast spell. Growing preference of plant derived chemicals over animal derived products will further enhance the overall market demand in the next few years.” said Andy Smith, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.
The growing demand for oleic acid, especially in North America is considered as one of the major factors that is expected to encourage the growth of the global tall oil fatty acid market in the next few years. In addition to this, the significant rise in the production of crude oil in several nations is another key factor that is estimated to accelerate the growth of the market in the coming years. Furthermore, the rising demand for tall oil fatty acids from soaps and coatings and detergents industries is predicted to enhance the growth of the overall market in the next few years. On the other hand, the low rate of penetration of the tall oil fatty acid market in developing economies, especially in Asia Pacific is likely to hamper the growth of the market in the next few years. Nonetheless, the rising manufacturing of biodiesel making use of the tall oil fatty acid, which is based on the feedstock is likely to augment the global tall oil fatty acid market in the next few years.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Tall Oil Fatty Acid companies that include Arizona Chemical Company, Forchem, Lintech International, Harima Chemicals, and Georgia Pacific, Eastman Chemical Company, Chemical Associates Inc, Florachem Corporation, Segezha Pulp and Paper Mill, OOO Torgoviy Dom Lesokhimik, Kraton Corporation, BASF SE, Industrial Oleochemical Products, Shaxian Lixin Resin Co. Ltd, Pasand Speciality Chemical, etc.
The tall oil fatty acid industry participants continuously strive to enhance their product portfolio in order to maintain their market position. They show significant integration throughout the value chain by maintaining their own plantation or having long term agreements with different plantations as direct raw material sources. Many companies manufacture the product for in-house application into end-use products such as soaps, detergents, adhesives, oilfield chemicals, etc.
Segmentation of Tall Oil Fatty Acid Market:
Oleic acids and linoleic acids account for majority of the global tall oil fatty acid market share. Linoleic acids accounted for most of the overall and will witness a substantial growth in the coming years owing to developments in its end-user segments such as paints, coatings, adhesives, and sealants. Ongoing research on application of the acid in personal care products will also create a plethora of opportunities for the industry. Other product types include stearic acids, palmitic acids, unsaponifiable, etc., which account for less than a fifth of the total share. Oleic acids have a significant growth prospect owing to its extensive usage as an oleochemical and oilfield chemical. The product segment is gaining popularity in North America.
Several end-user industries such as soap & detergents, fuel additives, coatings, plastics, lubricants, metalworking fluid, etc. find the application of the product or its derivatives. Soap & detergents industry accounted for more than a quarter of the global tall oil fatty acid market share and will witness a sluggish growth in comparison to other segments. Lubricants and fuel additive segments combined generated a great revenue for the global market in 2016 and will likely witness a growth at a steady CAGR in the forecast spell owing to its growing popularity as oilfield chemicals over animal derived tallow oil products.
Tall Oil Fatty Acid Market: Regional Analysis
In terms of geography, the global Tall Oil Fatty Acid market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America and Europe are projected to hold a major share of the global market in the next few years. The strong growth of these two regions can be attributed to the high and easy availability of raw materials. The rising contribution from the U.S. is considered as another major factor that is likely to enhance the growth of the market in the near future. In addition to this, a significant rise in the production capacity of paper and pulp market is likely to support the market growth. Furthermore, Asia Pacific is estimated to register a promising growth in the near future, thanks to the rising demand for tall oil fatty acid from India, China, and Japan. Europe is the second largest producer and consumer of TOFA and is one of the fastest growing regions in terms of demand for TOFA and other tall oil products. Majority of TOFA produced in this region is obtained from Finland and Sweden. Demand of TOFA from these two countries is also the highest in the region.
Largest share area：North America
largest share country：the Unite States
Product Type：Oleic acids, Linoleic Acids and Others (stearic acids, palmitic acids, unsaponifiable, etc.)
Application：Soap & Detergents, Fuel Additives, Coatings, Plastics, Lubricants, Metalworking Fluid, etc
Leading Company：Arizona Chemical Company, Forchem, Lintech International, Harima Chemicals, and Georgia Pacific