Major players in the tall oil fatty acid market are Kraton Corporation, Forchem, Harima Chemicals, Georgia Pacific, Kraton Corporation, Forchem, Harima Chemicals, Georgia Pacific, Eastman, Lascaray, Chemical Associates, and Univar Solutions.
New York, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tall Oil Fatty Acid Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06130138/?utm_source=GNW
The global tall oil fatty acid market is expected to grow from $802.58 million in 2020 to $821.50 million in 2021 at a compound annual growth rate (CAGR) of 2.36%. The growth is mainly due to the rising demand of tall oil fatty acids from the soaps and detergent sector and the cosmetics industry. The market is expected to reach $1,066.52 million in 2025 at a CAGR of 6.74%.
The tall oil fatty acid market consists of sales of tall oil fatty acids by entities (organizations, sole traders, and partnerships) that manufacture tall oil fatty acids.Tall oil fatty acid (also known as liquid rosin or tallol) is a light-colored tall oil fatty acid obtained by fractional distilling crude tall oil.
It is obtained from crude tall oil, a by-product of the Kraft paper pulping process and is used where long chain fatty acids are required, such as soaps & detergents, lubricants, fuel additives, paints & coatings, and plastics. .
The main product types of tall oil fatty acid are oleic acid, linoleic acid, and others.Oleic acid is a type of fatty acid found in a variety of animal and vegetable fats and oils and is used in varied industries including lubricants, detergents, surfactants, coatings and sealants.
Linoleic acid is an essential fatty acid found mostly in plant oils and is used in making soaps, emulsifiers, and quick-drying oils. The different applications of tall oil fatty acid include dimer acid, alkyd resin, fatty acid ester, others and are implemented in various sectors such as soaps and detergents, plastic additives, coatings, lubricants, fuel-additives, others.
North America was the largest region in the tall oil fatty acid market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growing technological advancements are shaping the tall oil fatty acid market.Major companies operating in the tall oil fatty acid sector are focused on developing technological solutions for tall oil fatty acids.
For instance, in February 2019, Calyxt, a US-based food, and agriculture company declared the successful commercial launch of Calyno High Oleic Soybean Oil- the firm’s first product to be marketed in the USA, which involves advanced gene-editing technology.When compared to commodity soybean oil, Calyno oil comprises nearly 80% oleic acid and up to 20% fewer saturated fatty acids, and zero grams of trans fat per serving.
It also has up to 3 times the fry life and prolonged shelf life making it a more affordable product.
In October 2019, Daelim Industries, a US-based petrochemical, and construction company has announced the acquisition of the Cariflex Business Unit of Kraton Corporation for $530 million.The acquisition aims to provide Daelim Industries customers a wide range of innovative products while serving the medical and other high-end markets.
Kraton Corporation is a US-based company that is engaged in the manufacturing of biobased chemicals and specialty polymers.
The increasing demand for tall oil-based biofuel is expected to drive the growth of the tall oil fatty acid market in the coming years.Tall oil is a byproduct of the pulp and paper industry that is often used to produce biofuels.
The tall oil-based biofuel is used in various products such as pharmaceuticals, paints and coatings, lubricants, soaps, detergents, additives and helps in reducing greenhouse gas emissions and increase the reusability of used materials.For instance, according to a report by Lubes and Greases, the demand for transportation-grade crude tall oil-based biofuels is anticipated to rise from 320,000 tons per year in 2019 to 880,000 tons per year in 2030.
Therefore, the increasing tall oil-based biofuel is expected to boost the growth of the tall oil fatty acid market.
The countries covered in the tall oil fatty acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06130138/?utm_source=GNW
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