Los Angeles, CA -- (SBWire) -- 12/27/2018 --This study focuses on the production side and consumption side of Tung Oil, presents the global Tung Oil market size by manufacturers, regions, type and application, history breakdown data from 2013 to 2018, and forecast to 2025.
In terms of production side, this report researches the Tung Oil capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and product type.
In terms of consumption side, this report focuses on the consumption of Tung Oil by regions and application. The key regions like North America, Europe, Asia-Pacific, Central & South America, Middle East and Africa etc.
Pure Tung Oil is a finishing product that provides a tough, flexible and highly water-resistant coating. It is classed as a drying oil along with linseed, poppy seed, safflower seed, walnut, soybean, oiticica and a few other oils. Although it is relatively new to the Western world, tung oil has been known for centuries to the Chinese, and until this century, China was the main source for the oil. It comes from the seed of the tung trees, Aleurites fordii and Aleurites montana, deciduous trees that are very susceptible to frost damage. This vulnerability has restricted the cultivation of the tung trees to China and South America.
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Currently, Oleaginosa RAATZ, Wuzhou Oasis Chemicals and Xunyang Mingwen Oil are the leaders of tung oil industry.Oleaginosa RAATZis a global leader. In 2017, the production of Oleaginosa RAATZ was 44489 ton, and the company held a production share of 50.6%. In Europe and the United States, Oleaginosa RAATZ and Wuzhou Oasis Chemicals are the market leader.Downstream customers such as Liberon, AkzoNobel, and American Wood Oil use products from both companies.
Tung oil is mainly used for wood finishing, electronic and pesticide. In 2017, wood finishing application held 91% of the consumption market share. Tung oil seeps into the grain of the wood, giving it a perpetual wet look that highly accentualizes the grain of the wood, commonly referred to as "making the grain pop". Because of this, the color of the wood is slightly darkened, giving the wood a rich, warm color that is very pleasing.
In the past few years, the production of Chinese tung oil is declining. QYR interviewed the chairman and manager of the major manufacturers. In addition, QYR also interviewed local growers. QYR believes that the industry is not an exciting industry. From 2009 to 2017, China's tung oil production is declining due to the reduction in planting area. For manufacturers, they have spent a lot of time and money for buying raw materials, but the profits are indeed meagre. At the same time, this product is not indispensable for wood finishing protection industry. As growers, they can't get more profits than other jobs .Growers are reluctant to plant tung trees, which makes Chinese tung oil continue to decline. The only benefit is to reduce a large number of competitors.
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The Tung Oil market was valued at 270 Million US$ in 2017 and is projected to reach 330 Million US$ by 2025, at a CAGR of 2.6% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Tung Oil.
This report includes the following manufacturers; we can also add the other companies as you want.
Oleaginosa RAATZ
Wuzhou Oasis Chemicals
Xunyang Mingwen Oil
Qiubei County Shuanglong Oil
Jinxing Tung Oil
...
Market Segment by Product Type
Raw Tung Oil
Boiled Tung Oil
Market Segment by Application
Wood Finishing
Electronic
Key Regions split in this report:
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Malaysia
Philippines
Thailand
Vietnam
Europe
Germany
France
UK
Italy
Russia
Central & South America
Brazil
Rest of Central & South America
Middle East & Africa
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The study objectives are:
To analyze and research the global Tung Oil status and future forecast, involving capacity, production, value, consumption, growth rate (CAGR), market share, historical and forecast.
To present the key Tung Oil manufacturers, capacity, production, revenue, market share, and recent development.
To split the breakdown data by regions, type, manufacturers and applications.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
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Global Tung Oil Market Growth Analysis (2018 - 2023) by Top Leading Players - Oleaginosa RAATZ, Wuzhou Oasis Chemicals, Xunyang Mingwen Oil, Qiubei County Shuanglong Oil