Tallow Fatty Acids Market to Expand at 2.3% CAGR from 2014 to 2020 : TMR
Transparency Market Research has published a new research report titled “Tallow Fatty Acids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” to their report store.
Albany, NY -- (SBWire) -- 02/23/2016 --Transparency Market Research has published a new market study, titled "Tallow Fatty Acids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020." The report says that the global tallow fatty acids market will be valued at US$2.7 bn by 2020, increasing from US$2.3 bn in 2013. This will amount to a CAGR of 2.3% between 2014 and 2020 in terms of revenue.
The report says that soaps and detergents exhibited the highest demand with a share of more than 30% in the global tallow fatty acids market in 2013. Stearic acid, oleic acid, and palmitic acid are three major fatty acid esters used in the manufacture of soaps and detergents. Currently, the cleaning products industry is set for expansion due to consistent product development and introduction of new products. However, environmental deterioration concerns and focus on green cleaning products have necessitated the use of natural fatty acids in the manufacture of cleaning products. Hence, tallow fatty acids, which are derived from animal fats, are suitable for the need. Other end uses of tallow fatty acids lie across manufacturing, healthcare, food and beverages, retail, and other commercial industries.
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In Asia Pacific and South America, the recent economic development has led to an upsurge in purchasing power, thereby allowing consumers to spend considerable amounts on lifestyle and beauty products. This has indirectly benefitted the soaps and detergents end-use segment of the tallow fatty acids market.
In 2013, demand for tallow fatty acids for plastics followed that for soaps and detergents. Due to the increasing demand for plastics for packaging and building and construction applications, the demand for tallow fatty acids for plastic manufacture is rising.
However, in spite of the favorable growth factors, the tallow fatty acids market faces challenges for progression. The increasing preference of end-use industries for vegetable-based natural fatty acids in place of animal-based ones is impacting the market's growth. In addition, a major shift in the manufacture of tallow-based oleochemicals from their traditional hub of Europe and North America to Asia Pacific, predominantly Southeast Asian countries, where fatty acids are derived from palm oil, is negatively impacting the market's progression.
The product segments of the global tallow fatty acids market are saturated, monounsaturated, and polyunsaturated. Of all, in 2013, monounsaturated fatty acids held the largest share of more than 45% of the global market. C18 and C16 groups of monounsaturated fatty acids are extensively used in the cosmetics and soaps and detergents industries.
In the same year, saturated fatty acids exhibited the second highest demand in the tallow fatty acids market. C18, C16, and C14 groups of saturated fatty acids are used in soaps, plastics, lubricants, rubber, and other end uses.
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Some of the prominent players that operate in the global market for tallow fatty acids are AkzoNobel N.V., H Foster & Co. Ltd., Baerlocher GmbH, WF LLC, Acme-Hardesty Co., BASF SE, Emery Oleochemicals, and Vantage Specialty Chemicals Inc.
The market has been segmented as follows:
Tallow Fatty Acids Market - Product Segment Analysis
-Saturated Fatty Acids
-Monounsaturated Fatty Acids
-Polyunsaturated Fatty Acids
Tallow Fatty Acids Market - Application Analysis
-Soaps & Detergents
-Personal Care Products
-Others (Including Food and Lubricants)
Tallow Fatty Acids Market - Regional Analysis
-Rest of Asia Pacific
-Rest of the World
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