Tall Oil Fatty Acid Market to Exhibit 4.2% 2014-2022, Thanks to Increased Demand from Crude Oil Production Sector

The vendor landscape of the global market for tall oil fatty acid features a largely consolidated nature and a high level of competition as the few leading vendors run a tight ship in terms of collective share in the overall market. So as to maintain their positions, companies are increasingly investing their efforts into research and development of new and more effective product varieties, strengthening of in-house supply chain of raw materials, and mergers and acquisitions with the view of expanding product portfolios. Threat of alternatives such as animal- or plant-based fatty acids continues to be a key challenge for market players.

Some of the leading companies in the market are Harima Chemicals Group, Inc., Forchem Oy, Georgia Pacific LLC, MeadWestvaco Corporation, and Arizona Chemical Company, LLC.

According to the report, the global tall oil fatty acid market will rise to a valuation of US$1,050.0 mn in 2022. To achieve this, the market would have registered a CAGR of 4.2% from 2014 to 2022.

North America and Europe Markets to Remain Lucrative

In terms of the key product varieties in the market, including linoleic acid, oleic acid, stearic acid, and maleic acid, the segments of linoleic and oleic acid collectively account for a lion’s share in the overall market. In terms of applications, the segment of alkyd resins is presently the most lucrative.

From a geographical standpoint, the markets in North America and Europe are presently the leading revenue contributors to the overall market, accounting collectively for over 70% of the market. This can be attributed to the easy and high availability of raw materials and rise in crude oil and shale gas production activities. The market in Asia Pacific is expected to exhibit promising growth opportunities over the forecast period owing to increased demand from countries such as India, China, and Japan.

Steady Rise in Crude Oil Production Activities Globally to Help Market Gain Pace

One of the key factors working in favor of the global tall oil fatty acids market is the increased usage of these fatty acids across a number of applications in the crude oil production sector. Owing to the rising production of crude oil across a number of regions across the globe, the uptake of tall oil fatty acids has also increased substantially. The trend is expected to remain strong over the next few years as well, with the steady rise in exploration and production activities in North America, Europe, and the Middle East providing steady growth prospects.

Request to view Sample Report:

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=4553

The market is also expected to benefit from the rising uptake of tall oil fatty acids from the detergents and soaps industries. However, the market is negatively affected due to the low penetration rate of tall oil fatty acid in a number of developing countries, especially across regions such as Asia Pacific. While this could curtail the growth prospects of the market to an extent, the increased usage of tall oil fatty acids for the production of biodiesel could present healthy growth opportunities before the market.

Leave a Reply