The global
tall oil fatty acid market is expected to grow at a CAGR of close to
5% from 2017-2021, according to a new market research report by
Technavio.
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Technavio has published a new market research report on the global tall oil fatty acid market 2017-2021 under their chemicals and materials library. (Graphic: Business Wire)
Global tall oil fatty acid market segmentation by end-user and
geography
Technavio’s report on the global
tall oil fatty acid market analyses the business dimensions and
presents a comprehensive breakdown in terms of market segmentation by
end-user, including soaps and detergents, plastic additives, coatings,
lubricants, and fuel additives. As projected in 2016, approximately 27%
of the market share originated from the soaps and detergents segment.
Due to the low cost of tall oil fatty acid used in the production of
soaps and detergents, there is an increase in demand for the soaps and
detergents in the tall oil fatty acid market. It is used as an
alternative to tallow fatty acid to produce soap and detergents.
Based on geography, the global tall oil fatty acid market has been
segmented into North America, Europe, APAC, and ROW. As of 2016, North
America has a market share of approximately 42%. Increased drilling
activities and the rise in the demand for drilling fluids is driving the
growth in this region. The increase in demand for drilling fluids and
lubricants is expected to increase the demand for tall oil fatty acid in
this region.
“Demand in this region is expected to increase due to the easy
availability and improved technology to extract tall oil fatty acid.
Contributing factors to the significant growth of the tall oil fatty
acid market in North America is attributed to the exploration of shale
gas, coupled with the increased drilling activities and crude oil
production in the US,” says Kurva Samba Sivudu, a lead analyst at
Technavio for bio-chemicals
and bio-materials research.
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Tall oil fatty acid market: competitive vendor landscape
With the presence of few multinational players, the global
tall oil fatty acid market is concentrated. Due to high investment
cost involved in the setting up of the manufacturing plants, the threat
of new entrants is relatively moderate. The threat of substitutes such
as other plant-based and animal-based fatty acids is the key factor
influencing the market from a competitive view. To make their products
innovative and different from others' products, competitors are highly
investing in R&D. Since the market is concentrated, there is intense
competition among the existing players.
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challenges, trends, and more.
Other topics covered in the report:
Market drivers:
-
Rising use in soaps and detergents
-
Increasing use in various products and end-users
Market challenges:
-
Declining production of paper
-
Threat of substitutes
Market trends:
-
Increasing use in rubber industry
-
Demand for lubricating agents
Get a sample copy of the global
tall oil fatty acid market report free of cost
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and bio-materials research library and find expert analysis on
hundreds of markets.
About Technavio
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