Pune, India -- (SBWire) -- 04/25/2019 --The report on Linseed Oil Market by application (pharmaceuticals, cosmetics, processed food, flooring, paints & varnishes, and others), region (North America, Europe, Asia-Pacific, and Rest of the World) trends analysis and forecasts up to 2024 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the global linseed oil market is projected to grow at a CAGR 3.2% in terms of value over the period of 2018-2024. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.
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Linseed Oil Market: Insight
Linseed oil is extracted from the dried, ripened seeds of the flax plant (Linum usitatissimum). It is a colorless to yellowish oil and also known as flaxseed oil. The oil is obtained by pressing and solvent extraction. Extracted from the ripe seeds of the plant, linseed oil has been used as edible oil and for the protection and maintenance of interior and exterior wood. Linseed oil is most often used for finishing of paneling, moldings, beams, furniture, and floors.
Linseed oil can polymerize into a solid form making it a drying oil. Linseed oil is blended with combinations of various oils, resins or solvents as an impregnator, drying oil finish or varnish in wood finishing, as a pigment binder in oil paints, as a plasticizer and hardener in putty, and in the manufacture of linoleum owing to its polymer-forming properties.
Linseed Oil Market: Drivers and Restraints
The use of synthetic resins, petrochemical and acrylic paints have significantly contributed to an increase in air pollution and health problems. The rising demand for non-toxic and environmentally friendly paints and varnishes acts as the major driving factors for the growth of linseed oil market. Raw linseed oil based paints penetrate the surface, has a longer lifespan than any synthetic paint. It decomposes naturally, leaving no harmful waste residue owing to its natural ingredients. Additionally, linseed oil is a rich source of ?-Linoenic acid an omega-3 fatty acid that decreases the risk of coronary heart disease. The increasing demand for nutritional culinary oils also promotes the linseed oil market. However, the prevalence of synthetic paint and alkyd resins for flooring, finishing, and painting restrains the growth of linseed oil market. Moreover, the shifting trend towards safe and eco-friendly products and healthy food habits is expected to create an opportunity for the growth of linseed oil market.
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Linseed Oil Market: Regional Analysis
Geographically, the Asia-Pacific region dominates the linseed oil market and is expected to hold the maximum market share during the forecast period. North America also holds a significant market share in the global linseed market owing to its use in paints and varnishes and its nutritional benefits. The technological advances made in the production of linseed oil have improved its natural characteristics and promoted the use of linseed oil for domestic and industrial applications. Increased demand for nutritional products for human consumption and environmentally friendly industrial uses are expected to boost the growth of linseed oil market in Europe and the RoW.
Linseed Oil Market: Competitive Landscape
The report provides profiles of the companies in the global linseed oil market such as Archer Daniels Midland Company, AOS Product Private Limited, Lamotte Oils, Linolie Danmark ApS, Gustav Heess Gmbh, Welch, Holme & Clark Co., Inc., Bioriginal Food & Science Corp, Natrol, Cargill U.S., and Nature's Way.
1. Drivers
- Rising Demand for Non-Toxic and Environmentally Friendly Paints and Varnishes
- Favorable Government Policies to Reduce Unsafe of Chemical Paints
- Increasing Awareness About the Benefits of Linseed Oil
2. Restraints
- Prevalence of Synthetic Paint and Alkyd Resins
3. Opportunities
- Shifting Trend Towards Safe and Eco-friendly Products
- Increasing Demand for Nutritional Culinary Oils
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Global Linseed Oil Market: Latest Global Insights, Growth Factors, Challenges and Industry Trends 2018-2024
Linseed Oil Market (Application - Pharmaceuticals, Cosmetics, Processed Food, Flooring, Paints & Varnishes, and Others; Region - North America, Europe, Asia-Pacific, and Rest of the World): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024. the global linseed oil market is projected to grow at a CAGR of 3.2% over the forecast period of 2018-2024.