Get more insights on Crude Tall Oil Market
The Crude Tall Oil Market Is Driven By Rising Use In Industrial Applications
Global crude tall oil market has witnessed steady growth over the past few years owing to its increasing demand from various applications including metalworking fluids, cleaning fluids, drilling fluids, and others. Crude tall oil is a by-product obtained from the kraft pulping process of pine trees and it comprises resins and fatty acids such as abietic acid that impart suitable properties for numerous industrial applications. The product offers advantages such as biodegradability, low toxicity, and cost-effectiveness over petroleum-based alternatives. It finds widespread utilization in the metalworking industry as an environment-friendly cooling and lubricating fluid. Crude tall oil also acts as a valuable substitute for edible vegetable oils and wood rosin in various applications due to its sustainable raw material source.
The Global crude tall oil market is estimated to be valued at US$ 1.93 Bn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the crude tall oil market are Citec Group Oy Ab, Ingevity Corporation, Georgia-Pacific Chemicals, Forchem Oyj, Kraton Corporation. Increasing demand from drilling and metalworking applications is promoting the growth of crude tall oil. Growing preference towards bio-based and sustainable industrial products is further augmenting the consumption of crude tall oil globally.
The Crude Tall Oil Market Size is witnessing significant growth in demand from the metalworking industry owing to advantages such as biodegradability and low toxicity over petroleum-based fluids. Manufacturers are extensively utilizing crude tall oil-based metalworking fluids for machining, forming, grinding, and other industrial processes.
Key players in the crude tall oil market are focusing on capacity expansion plans and product launches to capitalize on opportunities in emerging economies across Asia Pacific and Latin America. Manufacturers are investing in R&D to develop novel applications of crude tall oil especially in the biofuel and green chemical domains to strengthen their market position.
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