- Europe is the second largest producer of tall oil fatty acid and is anticipated to be the fastest growing market as far as demand is concerned over the coming few years
- Notable increase in paper and pulp production is set to support growth in global tall oil fatty acid market
ALBANY, N.Y., Oct. 5, 2020 /PRNewswire/ -- An increase in number of applications of tall oil fatty acid is being noted in the world. This is set to drive growth in the global tall oil fatty acid market over the coming few years. Additionally, a shift is also observed in consumer preference towards this product from tallow oil fatty acid and it is anticipated to be a notable growth factor.
As per Transparency Market Research, "The compound annual growth of the market over the forecast period of 2019 to 2027 will be 4.2%. The market worth would grow as a result of this robust growth projection. From USD 882.15 million in 2018, the market valuation will grow up to USD 1.2 billion by the end of the forecast period."
Competitive Landscape of Global Tall Oil Fatty Acid Market:
Key global tall oil fatty acid market players include Harima Chemicals Group, Inc., Forchem Oy, MeadWestvaco Corporation, Georgia Pacific LLC, and Arizona Chemical Company, LLC, among others. These are evaluated in the market report prepared by Transparency Market Research. The report also consists of other crucial details like recent developments in the market, top growth strategies of these players, and financials.
Most top-tier players, who operate in the vendor landscape of this market depend largely on supply agreements and market goodwill to lay claim to large revenue shares. It is significant to note here that in this market, a handful of players command a sizeable share and that smaller players do not create much discomfort for established ones. The latter derive benefits of economies of scale to keep threats in check by producing product at low costs. Investments towards research and development (R&D) activities are high and increasing.
Microalgae-based Products Market - The global microalgae-based products market was valued at US$ 1.8 Bn in 2019 and is anticipated to expand at a CAGR of ~5% during the forecast period. Rise in usage of microalgae-based products in food and nutraceutical & dietary supplements applications is expected to drive the microalgae-based products market in the near future. Europe is anticipated to account for a major share of the global microalgae-based products market during the forecast period. Rise in demand for microalgae-based products in various applications such as food & beverages, animal feed, pharmaceuticals, nutraceuticals, and biofuel in Europe is driving the microalgae-based products market in the region.
Lipids Market - The consumer gravitation towards cosmetics and skin care products with organic ingredients has been the primary driving force behind the demand for lipids in personal care and cosmetics industry. As per TMR report on lipids market, lipids find widespread applications in cosmetics due to high adoption in skin-care and make-up, which together account for over half of the value share in global cosmetics market. Lipids immense adoption in cosmetics can be attributed to impressive functional properties of lipids, such as nontoxic and biodegradable nature and skin compatibility. Further, the burgeoning per capita disposable income in developing countries is boosting sales of cosmetics in regions, such as MEA, Latin America, India, and China, finds TMR. The growing urbanization has been bringing tremendous lifestyle changes in diverse regions, which is further underpinning gains in cosmetics and personal care industry. Social media and digitalization are also playing a pivotal role in spreading a word about a wide range of cosmetics, which is boosting their sales.
Pine-derived Chemicals Market - Based on type, the global pine-derived chemicals market has been segmented into tall oil fatty acids, tall oil rosin, gum turpentine, gum rosin, pitch, sterols, and others. The gum rosin segment held a leading share of the global market, in terms of both value and volume, in 2017. The segment is estimated to expand at a considerable pace during the forecast period. Gum rosin is used in printing inks, photocopying and laser printing paper, varnishes, adhesives, soap, soda, soldering fluxes, and sealing wax as well as in paper sizing. Tall oil rosin (TOR) is another significant segment of the global pine-derived chemicals market. It is estimated to expand at a rapid pace during the forecast period. TORs are unmodified in order to provide a cost-effective and flexible starting point for several end-use applications and customer-specific processes.
Fatty Acid Derivative Market - There is a growing concern for finding alternative for the products obtained from petroleum, because petroleum sources are going to exhaust after some time in future. Use of petroleum products is immensely hazardous to the environmental. Fatty acid derivatives are environment-friendly alternatives to some petroleum products. Favorable regulations is a driver for the fatty acid derivative market. Innovation and technology in the production of fatty acid derivatives are opening new horizons for its applications. Use of fatty acid derivatives as bio lubricants is projected to propel the market.
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