Tallow Fatty Acids Market is projected to exceed USD 3 billion according to this new research report.
Sellbyville, DE -- (SBWIRE) -- 12/07/2018 -- Rising soaps & detergents industries have propelled the global tallow fatty acids market in recent decade. Superior cleansing and conditioning product characteristics make it a significant component in the detergents & soaps in industrial applications. The global cleaning industry inclusive of soaps & detergents, will grow with gains over 7% CAGR because of supporting government approach towards maintaining hygiene and cleanliness throughout the manufacturing facilities for ensuring healthy working surroundings. Tallow Fatty Acids Market is projected to exceed USD 3 billion according to this new research report.
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Rising rubber and plastic demand in various businesses like packaging, automotive, electronics and construction is another trend driving the tallow fatty acids market in the near future. The product is prominently used as vulcanization and anti-tacking agent in the rubber and plastic industry, in order to improve their stabilizing, lubricating, gelling and anti-caking characteristics.
Shifting focus of manufacturers towards producing personal care products, detergents and soaps by using vegetable oil, for the lower cost associated with production might restrain market growth in the forecast period. In addition, the tallow oil fatty acids market may be negatively affected by significant substitution threat by palm oil.
Saturated tallow fatty acids segment is expected to witness growth over 2% CAGR by 2024. The product finds applications mainly in plastics & rubber processing as well as in manufacturing oilfield chemicals, detergents & soaps and pharmaceuticals. Extensive demand from these end-use industries will subsequently fuel the growth of industry by 2024.
Monounsaturated segment had significant share in the overall tallow fatty acids market in 2016. Considerable demand in soaps and cosmetics production will be the key factor responsible for industry growth by 2024.
The detergents & soaps segment was a contributor of over USD 500 million in 2016. The prominent factor driving the growth was growing demand for product in manufacturing of soap because of its unique conditioning and moisturizing characteristics.
Rubber segment is expected to have growth over 2% in the forecast period. The market of rubber segment will be primarily driven by uplifting demand for product as vulcanizing agent. Moreover, the product plays a key role in enhancing the metal-rubber adhesion due to which there will be high demand for tallow fatty acids from the tire manufacturing industry by 2024.
North America contributed over 30% of the overall tallow fatty acids market share in 2016. The regional growth had been largely attributed to the favorable regulations towards safeguarding hygiene & health conditions across production facilities. Additionally, vigorous automotive production and sales in U.S. are expected to foster business growth in rubber processing and other applications associated with it.
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Asia Pacific region is probable to observe maximum gains in the forecast period owing to elevating end-use industries like automotive, construction and electronics. Growth trends in the regional FMCG market. Ever-increasing automotive production and sales in India, China, Indonesia and Japan will also contribute significantly to the market growth.
Foremost industry players are BASF SE, AkzoNobel, Emery Oleochemicals, Vantage Oleochemicals, Godrej Industries, Acme-Hardesty, Twin Rivers Technologies, Chemol, Colgate Palmolive, LG Household and Healthcare, FerroMac International, H Foster & Co. and Chemithon Enterprises, Baerlocher GmbH.
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