Global Tall Oil Fatty Acid Market is Expected to Reach US$ 1,050.0 Mn in 2022: Transparency Market Research
Transparency Market Research has published a new report titled “Tall Oil Fatty Acid (Oleic Acid, Linoleic acid, and Others) Market by Applications (Dimer Acids, Alkyd Resins, Fatty Acid Esters, and Others) for Soaps & Detergents, Coatings, Lubricants, Plastics, Fuel Additives, Metal Working Fluids, and Other End-user Industries - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2022.” According to the report, the global tall oil fatty acid market was valued at US$ 725.1 Mn in 2013 and is projected to reach US$ 1,050.0 Mn in 2022, expanding at a CAGR of 4.2% between 2014 and 2022.
Browse the full report Tall Oil Fatty Acid Market: http://www.transparencymarketresearch.com/tall-oil-fatty-acid-market.html
Tall oil fatty acid, also known as TOFA, is derived from crude tall oil through fractional distillation. Crude tall oil is obtained as a by-product of the paper and pulp industry. TOFA is employed in various end-use industries such as paints & coatings, soaps & detergents, lubricants, fuel additive, metal working fluids, and adhesives.
The TOFA market is highly region-oriented; North America and Europe account for the largest share of demand as well as production of TOFA. North America and Europe are the major producers as well as consumers of TOFA. Together, these regions constitute more than 75.0% share of the global market. Availability of high quality raw materials and high production capacity of the pulp and paper industry are the primary factors for the dominance of these two regions. Furthermore, the region depends on imports for most vegetable oil fatty acids, and the domestic production capability of TOFA lowers the dependence on imports of natural fatty acid. Additionally, most vegetable fatty acids are considerably higher in prices compared to tall oil fatty acid, as they have food applications, which lead to higher demand for tall oil fatty acid. Japan accounts for the bulk of demand for TOFA, distantly followed by China and India, in Asia Pacific.
The TOFA market is driven by rising demand for oleic acid in oilfield applications. TOFA is rich in oleic acid, which has high demand in oil field chemicals, lubricants, and metal working fluids. Demand for tall oil fatty acid is high in Europe. The region also has high production capacity. Sweden and Finland account for the major share in terms of demand and production of TOFA and its intermediate products. Other countries in Europe with high production capacities are Austria, France, and Russia. Demand for TOFA is moderate in Asia Pacific, wherein Japan holds the highest demand. However, most tall oil fatty acid produced in the region is manufactured from crude tall oil imported from North America and Europe.
Browse the full Press Release of Tall Oil Fatty Acid Market: http://www.transparencymarketresearch.com/pressrelease/tall-oil-fatty-acid-market.htm
Key players operating in the TOFA market include Arizona Chemical Company, LLC, MeadWestvaco Corporation, Forchem Oy, Georgia Pacific LLC, and Harima Chemicals Group, Inc.
Tall Oil Fatty Acid Market - Product Segment Analysis
o Oleic acid
o Linoleic acid
o Others (Including linoleic acid, maleic acid, and stearic acid)
Tall Oil Fatty Acid Market - Application Analysis
o Dimer acid
o Alkyd resin
o Fatty acid ester
o Others (Including dimer acid and fatty acid soaps)
Tall Oil Fatty Acid Market - End-user Analysis
o Soap & detergents
o Fuel additives
o Metal working fluid
o Others (Including adhesives, asphalt additives, and biofuel)
Tall Oil Fatty Acid Market - Regional Analysis
o North America
o Rest of North America
o Rest of Europe
o Asia Pacific
o Rest of APAC
o Latin America
o Rest of LATAM
o Middle East and Africa
o GCC Countries
o South Africa
o Rest of MEA
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