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Tall oil fatty acid is a low-cost, vegetarian and formed when esters and carboxylic acids and are subjected to a temperature in a process of paper pulping. It is a lifestyle friendly alternative to fatty acids for the production of soaps and lubricants. The market is a growing market and aims to grab the major market share during the projected period.
The market witnesses the current market share as USD XXX Million in 2017 and is expected to reach USD XXX million by 2023. The market held numerous opportunities for the existing as well as entry-level players. The market is a growing market because of the increasing use of oil fatty acid in the oil and gas industry.
(1) Refining tall oil and manufacturing products can reduce carbon dioxide emissions
(2) It contains oleic and linoleic acids which are beneficial to hair growth.
(3) It is used in oil drilling as a component of drilling fluids.
(4) It can be used without purification as fuel.
The increasing demand for the plant-based chemical derivative over animal-based and crude oil-based chemical and unconventional resources of energy will favour the growth of the tall oil fatty market during the forecast period.
The tall oil fatty acid is bifurcated into product type, application type, and by end-user. By product type, it is divided into oleic acid, linoleic acid, maleic acid and stearic acid. By application, it is divided into dimer acid, alkyd acid, fatty acid ester and fatty acid soaps. End-user divides it divided into soap and detergents, coatings, lubricants, plastics, fuel additives, metalworking fluid, adhesives, asphalt additives and biofuel. Every segment plays an important role in the overall growth of the market and has a significant contribution to the revenue of the market.
The tall oil fatty acid market depicts the current scenario of the market. The major geographical areas covered in the report are Europe, Asia-Pacific, North America and the Middle East. Asia-Pacific is the leading player in the market. However, North America is also trying its best to expand in the market during the forecasted period.
The major competitors of the market are Arizona Chemical Company, LLC, MeadWestvaco Corporation, Forchem Oy, Georgia Pacific LLC, Harima Chemicals Group, Inc. and Other Major & Niche Key Players. The market continuously revises its policies in order to adjust to the dynamic environment. Forchem is one of the best companies sustaining in the market as per current market standards because they are one of the ecological and sustainable tall oil refineries in the world.