Tall oil fatty acid market segmentation on the basis of products is done into oleic acids, linoleic acids, and other carboxylic acids such as palmitic acids, stearic acids, etc.

Sellbyville, DE -- (SBWire) -- 03/13/2019 --Global Market Insights, Inc. adds new Tall Oil Fatty Acid Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.

Linoleic acid will also account for a significant share of the global tall oil fatty acid market in 2024 owing to its wide application range in paints & coatings, and adhesive & sealant manufacturing. This segment will witness a healthy growth with a CAGR close to 4.5% in the forecast span.

Global cleaning products market will likely grow beyond USD 100 billion by the end of 2024 with a CAGR over 5% in the forecast span. Increasing numbers of healthcare facilities in the emerging countries and strict government mandates pertaining to cleanliness of the medical institutions will further boost the tall oil fatty acid market growth.

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Increasing demand for naturally derived fatty acid based biofuel may create new market avenues for overall tall oil fatty acid market in coming years. Several developed nations promote the usage of bio-based fuels in order to mitigate greenhouse emissions as well as to conserve the fossil fuel reserves. Acceptance of biofuel in all countries may take a few decades owing to varying economic conditions.

Availability of substitute products in Asia Pacific along with low awareness about the product in the region may pose challenges to the industry growth. Absence of standard quality raw materials in Asia Pacific may hinder the regional markets growth and will negatively impact the global tall oil fatty acid market.

Tall oil fatty acids market is segmented into three products namely oleic acid, linoleic acid, and other types including stearic acids, unsaponifiables, palmitic acids, and others. Oleic acid is anticipated to occupy a considerable share and this share will likely increase at a healthy rate during the forecast period due to its use in soaps, oil rigs and fuels. Linoleic acid segment is anticipated to grow by a CAGR of about 4.5%. This segment has a substantial share of global tall oil fatty acid market due to its usage in adhesives, paints, coatings, etc.

Tall oil fatty acid market application segmentation consists of dimer acids, alkyd resins, fatty acid esters, and other applications. Fatty acid esters application is anticipated to grow by about 4% CAGR in the forecast years. This segment will occupy about one fourth of the total market by 2024. Fatty acid esters find wide applications in personal care product manufacturing.

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Soap & detergents, coatings, lubricants, plastics, fuel additives, metal working fluid are the major end-user segments of tall oil fatty acid market. Metal working fluids, fuel additives and lubricants are the most lucrative end-use industries. All these segments will likely grow with a CAGR above 4%. Coatings and plastics end-user segments are anticipated to register a combined revenue of around USD 350 million by the end of the forecast period.

Europe is anticipated to be a prominent tall oil fatty acid market as other organic fatty acids are not commonly found there. Europe is expected to occupy about one third of total market by 2024. North America had around 40% share of the total tall oil fatty acid market in 2015 and will continue to be an important region for the industry growth.

Tall oil fatty acid market is highly consolidated with the top five companies, Lintech International, Arizona Chemical Company, Georgia Pacific, Harima Chemicals, and Forchem, accounting to more than 75% of the overall share.

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