Global Tall Oil Fatty Acid Market 2017-2021
About Tall Oil Fatty Acid
Tall oil is also known as liquid rosin or tallol. It consists of three major components: unsaponifiables, resin acids, and fatty acids. Tall oil fatty acid is formed when esters and carboxylic acids are subjected to a temperature in the Kraft process of paper pulping. It is mainly derived from pine and coniferous trees. The increasing demand for tall oil fatty acid as a viscosity modifier, lubricant, and corrosion inhibitor will increase its market share in the oil and gas industry. The increasing demand for plant-based chemical derivatives over animal-based and crude oil-based chemicals will favor the growth of the market during the forecast period. The increasing demand for unconventional resources of energy will boost the market for lubricants and drilling fluids, thus driving the growth of the global tall oil fatty acid market.
Technavio’s analysts forecast the global tall oil fatty acid market to grow at a CAGR of 4.76% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global tall oil fatty acid market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tall Oil Fatty Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global tall oil fatty acid market: Eastman Chemical Company, Georgia-Pacific Chemicals, Harima Chemicals Group, Ingevity, and Kraton Corporation.
Other Prominent Vendors in the market are: ExxonMobil, Forchem, Pasand Speciality Chemical, Spectrum Chemical Manufacturing, Technical Industries, and Werner G.Smith.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use in rubber industry. Tall oil fatty acid is used as a stabilizing and vulcanizing agent in the manufacturing of rubber. Tall oil fatty acid is largely being used in the automotive industry, specifically in tire manufacturing. In the production of styrene-butadiene-rubber (SBR) synthetic rubber, tall oil fatty acid is used as an emulsifier during the process of polymerization. The proprietary blend of pine tars, along with tall oil and other rosins, improves the functionality and increases the life of tires by improving the mechanical strength. The increasing use of rubber mats, mechanical rubber goods, and others will increase the market share of tall oil fatty acid during the forecast period.”
According to the report, one of the major drivers for this market is Rising use in soaps and detergents. The physical state of oil and fats is based on their source or origin. The liquid state indicates soft texture while solid-state indicates hard texture. The improved physical and chemical properties of oils and fats have increased their use in soap and detergents. The end-use determines the source of extraction of tall oil fatty acid. Hard oils are used to manufacture soaps, whereas soft oils contribute to conditioning. These soft oils that are used to provide better conditioning are more prone to oxidation. Thus, choosing various combinations of oil is necessary to produce the desired product based on the skin.
Further, the report states that one of the major factors hindering the growth of this market is Declining production of paper. As tall oil fatty acid can be derived from plants, its production capacity is limited. Tall oil fatty acid feedstock is crude tall oil (CTO), which is produced through the wood pulping process associated with the paper milling business. The CTO produced is economical, but it cannot be produced by any other means other than paper milling. The decline in the production of paper due to the restrictions on cutting trees to produce paper will hamper the production rate of CTO, resulting in an overall decline in the production of tall oil fatty acid.
Eastman Chemical Company, Georgia-Pacific Chemicals, Harima Chemicals Group, Ingevity, Kraton Corporation, ExxonMobil, Forchem, Pasand Speciality Chemical, Spectrum Chemical Manufacturing, Technical Industries, and Werner G.Smith.
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