Albany, NY -- (SBWIRE) -- 11/21/2017 -- Transparency Market Research has published a new report titled "Tall Oil Fatty Acid Market - 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 likely to reach US$ 1,050.0 Mn in 2022, expanding at a CAGR of 4.2% between 2014 and 2022.
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Tall oil fatty acid, commonly abbreviated as TOFA, is obtained as a by-product of the paper and pulp manufacturing process. Pine trees along with other coniferous trees are the primary raw materials for this chemical. TOFA accounts for about 30% of the yield of crude tall oil after fractional distillation, while the rest of the products obtained are tall oil rosin (TOR), distilled tall oil (DTO), and pitch fuel. TOFA is further processed to produce intermediate chemicals. These are used in various industries. Composition of TOFA is skewed largely towards long chain fatty acids such as oleic acid and linoleic acid. Demand for these products accounts for majority of applications of TOFA. However, the composition of oleic acid and linoleic acid in TOFA varies with region to region, owing to the difference in climatic conditions and soil.
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In terms of product types, the TOFA market can be segmented into oleic acid, linoleic acid, and others. Oleic acid and linoleic acid account for more than 80% of TOFA. Tall oil fatty acid is primarily used in the production of intermediates such as alkyd resins, dimer acids, and fatty acid esters. Alkyd resins account for the largest demand among all intermediates manufactured from TOFA. Soaps & detergents, paints & coatings, plastic additives, fuel additives, lubricants, metal working fluids, and adhesives are some of the major end-use industries for TOFA. Soaps & detergents and coatings hold the largest market share of TOFA in terms of volume.
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Led by the U.S., North America held the largest share of the global demand for tall oil fatty acid in 2013. Europe followed North America in terms of demand for tall oil fatty acid in 2013. The market for tall oil fatty acid in Asia Pacific is the nascent stage; Japan accounts for the bulk of the demand for TOFA in Asia Pacific. However, the TOFA market in the region is likely to expand at a brisk pace during the forecast period.
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The report provides an in-depth analysis of the tall oil fatty acid market in terms of volume (kilo tons) and revenue (US$ Mn). It includes current demand analysis and forecast for each product segment, application segment, and end-user segment at the global and regional level. Regions analyzed include North America, Europe, Asia Pacific, Latin America (LATAM), and the Middle East and Africa (MEA). Each region has been further sub-segmented into main countries or regions.