Tall Oil Fatty Acid Market: Global Outlook, Key Developments, And Market Share Analysis
Stratview Research delivers key insights on the global Tall Oil Fatty Acid Market. According to Stratview Research, the market is segmented by Product Type (Oleic Acid, Linoleic Acid, and Others), by Application Type (Dimer Acids, Alkyd Resins, Fatty Acid Esters, and Others), by End-User Type (Soaps & Detergents, Coatings, Lubricants, Plastics, Fuel Additives, Metal Working Fluids, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Insights
The report suggests that the overall Tall Oil Fatty Acid Market is expected to grow from USD 865.15 million in 2021 to USD 1190.4 million by 2028 at a CAGR of 4.6% during the forecast period of 2022-2028. Growing soaps & detergents industry and increase in oil field applications in North America and the Middle East are some of the key factors contributing to the growth of the market during the forecast period.
Market Segments' Analysis
Based on the product type, the market is segmented as oleic acid, linoleic acid, and others. Linoleic acid is estimated to hold the major share of the market during the forecast period on account of the growing demand from various end-user industries such as coatings, adhesives, and sealants. Similarly, oleic acid is also estimated to witness significant growth in the market over the forecast period owing to its extensive utilization as an oleochemical and oilfield chemical.
Based on the application type, the market is segmented as dimer acids, alkyd resins, fatty acid esters, and others. Alkyd resins are estimated to be the largest as well as the fastest-growing application segment of the market over the forecast period on account of their extensive utilization in the paints & coatings industry. In addition, dimer acids are expected to witness significant growth in the market majorly due to the growing oilfield sector in North America during the forecast period.
Based on the end-user type, the market is segmented as soaps & detergents, coatings, lubricants, plastics, fuel additives, metal working fluids, and others. Lubricants and fuel additives are estimated to hold a major share of the market together during the forecast period on account of their growing popularity as an oilfield chemical over animal-derived tallow oil products. Moreover, soaps & detergents are also estimated to witness significant growth in the market over the forecast period.
Key Players
The following are some of the key players in the Tall Oil Fatty Acid Market:
· Arizona Chemical Company LLC
· Chemical Associates Inc.
· Eastman Chemical Company
· Florachem Corporation
· Forchem Oy
· Georgia-Pacific Chemicals LLC
· Harima Chemicals Group, Inc.
· Kraton Corporation
· Lintech International LLC
· Segezha Pulp and Paper Mill.
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