Tall Oil Fatty Acid Market High Demand, Future Scope, Recent Trends, Applications, Types and Forecasts 2019 – 2027
The tall oil fatty acid market is estimated to observe
good growth prospects during the forecast period of 2019-2027 on the back of
the growing applications in a large number of sectors and applications. The
increasing use of tall oil fatty acids in end-user industries such as
lubricants, coatings, fuel additives, biofuels, asphalt additives, plastics,
metal working fluids, and others will bring promising growth for the tall oil
fatty acid market.
Tall oil fatty acid is a pure form of fatty acid with a low level of
rosin acids and unsaponifiables. It mainly comprises linoleic acid and oleic
acid. It is a perfect raw material for numerous chemical reactions and
intermediates. These fatty acids are used in raw form. They are also utilized
as precursors to synthesize a plethora of products. The versatility of tall oil
fatty acids among many applications will bring immense growth opportunities for
the global market during the forecast period.
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The expanding demand for crude oil across numerous regions will serve as
a profitable growth generator for the tall oil fatty acid market. It is
prominently used in the production of crude oil. Tall oil fatty acids are
derived from crude tall oil, a by-product of the Kraft paper pulping process.
Therefore, the rising use of crude oil will subsequently increase the growth
rate of the tall oil fatty acid market.
Transparency Market Research’s (TMR’s) research report on the tall oil
fatty acid market has every component that will assist the stakeholder in
understanding the current scenario. The overall market research survey on tall
oil fatty acid by TMR suggests a stable growth period.
According to the TMR experts, the market for tall oil fatty acid is prognosticated
to expand at 4.2 percent CAGR during the forecast period of 2019-2027. In the
context of valuation, the tall oil fatty acid market is estimated to reach a
valuation of US$ 1213.12 mn by 2027, the end year of the forecast period, and
was valued at US$ 882.15 mn in 2018.
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Swelling Popularity for Renewable Fuels to
Accelerate the Growth Opportunities across Tall Oil Fatty Acid Market
With the depleting resources of fossil fuels, the demand for biofuels is
rising at a rapid rate. Many countries are focusing on developing renewable
fuels. For instance, the Indian Government introduced a Biofuel Policy with the
objective to reach 20 percent ethanol-blending and 5 percent biodiesel-blending
with fossil-based fuels by 2030. Such initiatives bode well for the growth of
the tall oil fatty acid market.
Expanding Demand for Soaps and Detergents Deemed to
Bring Exponential Growth for the Tall Oil Fatty Acid Market
Use of oleic acid in the production of soaps and detergents will help in
boosting the growth prospects of the tall oil fatty acid market to a considerable
extent. The growing disposable income of many individuals, especially in
densely populated countries like India and China, has led to an increase in the
sales of consumer electronics like washing machines. The growing sales of
washing machines are directly proportional to the heightening demand for
detergents, which, in turn, intensifies the growth prospects of the tall oil
fatty acid market.
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Tall Oil Fatty Acid Market: Key Restraints
·
The lack
of quality raw materials restrains the market from developing the quality
required for tall oil fatty acid production. This factor hinders the growth of
the tall oil fatty acid market to a considerable extent.
·
The
penetration of tall oil fatty acids is low in countries having massive
population numbers, such as India and China. These aspects will hamper the
growth of the tall oil fatty acid market substantially.
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