Albany, NY -- (SBWIRE) -- 11/21/2017 -- Transparency Market Research has published a new report titled "Tallow Fatty Acids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020". According to the report, the global tallow fatty acids market was valued at US$ 2.34 Bn in 2013 and is anticipated to reach US$ 2.74 Bn in 2020, expanding at a CAGR of 2.3% between 2014 and 2020. In terms of volume, the market stood at 1,484.3 kilo tons in 2013.
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Demand for tallow fatty acids was the largest from the soaps & detergents segment in 2013. Demand for tallow fatty acids is primarily generated by the cleaning & detergents market. The cleaning products industry is expanding significantly across the globe. The industry is examining the environmental impact and "green focus" of cleaning products to meet the environmental challenge. The global cleaning products market offers products that are application-specific and focused on social and environment safety.
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End-users include manufacturing, food and beverages, healthcare, retail, and other commercial industries. The market for soaps & detergents in Asia Pacific and South America is likely to expand significantly due to the changing lifestyle of people and growing modernization. This segment was followed by the plastics end-user segment in 2013. Demand for tallow based fatty acids is estimated to rise in the next few years, due to increasing demand for plastics in end-user industries such as building & construction and packaging.
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Monounsaturated fatty acids formed the largest product segment of the tallow fatty acids market in 2013 and accounted for over 45% of the market share in the same year. Monounsaturated fatty acids with C18 and C16 groups are widely used in the soaps & detergents and cosmetics industries for the manufacture of a number of cleaning and grooming products. The segment was followed by saturated fatty acids where C18, C14, and C16 acid groups are used in lubricants, soaps, rubber, plastics and other end-users. Stearin, palmitin, and olein are three most important fatty acid esters used in the production of soaps.
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Rising demand for soaps & detergents is projected to be the major factor driving the demand for tallow fatty acids in the near future. Additionally, increasing usage of tallow fatty acids in rubber and plastics industries is anticipated to contribute towards growth of the market. However, changing preference of manufacturers from animal based raw materials to vegetable based raw materials is likely to slow down market growth. Rising usage of tallow fatty acids in other emerging end-users such as pharmaceuticals and personal care products is estimated to provide new opportunities for the growth of the market.