Tall Oil Fatty Acid Market Size And Forecast
The Global Tall Oil Fatty Acid Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Tall Oil Fatty Acid Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Tall Oil Fatty Acid Market was valued at USD 869.64 Million in 2019 and is projected to reach USD 1181.46 Million by 2027, growing at a CAGR of 3.92 % from 2020 to 2027.
What is Tall Oil Fatty Acid?
Tall oil fatty acid (TOFA) is produced by the reaction of carboxylic acids with esters under a desired temperature. Tall oil fatty acid is a by-product obtained during the paper and pulp manufacturing process. It is also called as tallol or liquid rosin. It is also naturally produced by kraft pulping. It is mainly extracted from pine and coniferous trees. TOFA comprises of three components—fatty acids, resin acid, and unsaponifiable matters.
Tall oil fatty acids are widely used as a lubricant, corrosion inhibitor, and viscosity modifier in the oil and gas sector. TOFA is an alternative for vegetable oil owing to its low carbon footprint. They are extensively used in the production of soaps & detergents, paints, coatings, adhesives, and emulsifiers. They predominantly find application in automobiles, aircraft, as well as industrial activities.
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Global Tall Oil Fatty Acid Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The rise in use of these fatty acids over various applications in the raw petroleum production, increasing demand in the soaps and detergent sector, and increasing usage in plant-based chemical derivatives over animal-based is expected to fuel the growth of the global tall oil fatty acid market. The need for tall oil fatty acid as a viscosity modifier, lubricant, and corrosion inhibitor globally is likely to drive the demand for the forecast period.
Furthermore, factors such as huge demand in the automotive industry for tire manufacturing, and in the vulcanization of rubber to enhance the mechanical properties of rubber are anticipated to propel the market growth. Whereas, lack of quality raw materials and low market share is the potential restraints hampering the overall market. The advancements in technologies, and untapped potential in emerging markets offers favorable growth opportunities.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Tall Oil Fatty Acid Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global Tall Oil Fatty Acid Market Competitive Landscape
The “Global Tall Oil Fatty Acid Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as AkzoNobel N.V., Arizona Chemical Company LLC, Ashburn Chemical Technologies, Ashland Inc., BASF SE, Chemical Associates Inc., Colgate-Palmolive Company, Coral Chemical Company, Cray Valley USA, Eastman Chemical Company, and Others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Tall Oil Fatty Acid Market, By Product
• Oleic acid
• Stearic Acid
• Linoleic acid
Tall Oil Fatty Acid Market, By Application
• Dimer Acid
• Alkyd Resin
• Fatty Acid Ester
Tall Oil Fatty Acid Market, By End-User
• Soap & Detergents
Tall Oil Fatty Acid Market, By Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Rest of the World
o Middle East & Africa
o Latin America
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