Tall Oil Fatty Acid Market Demand Increases Due To Its Use In Creating Biofuel

Tall Oil Fatty Acid Global Market Report 2021: COVID-19 Growth And Change

The Business Research Company's Tall Oil Fatty Acid Global Market Report 2021: COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, July 20, 2021 /EINPresswire.com / -- The increasing demand for tall oil-based biofuel is expected to drive the growth of the tall oil fatty acid market in the coming years. Tall oil is a byproduct of the pulp and paper industry that is often used to produce biofuels. The tall oil-based biofuel is used in various products such as pharmaceuticals, paints and coatings, lubricants, soaps, detergents, additives and helps in reducing greenhouse gas emissions and increase the reusability of used materials. For instance, according to a report by Lubes and Greases, the demand for transportation-grade crude tall oil-based biofuels is anticipated to rise from 320,000 tons per year in 2019 to 880,000 tons per year in 2030. Therefore, the increasing tall oil-based biofuel is expected to boost the growth of the tall oil fatty acid market.

The global tall oil fatty acid market size is expected to grow from $802.58 million in 2020 to $821.50 million in 2021 at a compound annual growth rate (CAGR) of 2.36%. The growth in the tall oil fatty acid market is mainly due to the rising demand of tall oil fatty acids from the soaps and detergent sector and the cosmetics industry. The market is expected to reach $1,066.52 million in 2025 at a CAGR of 6.74%.

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The main product types of tall oil fatty acid are oleic acid, linoleic acid, and others. Oleic acid is a type of fatty acid found in a variety of animal and vegetable fats and oils and is used in varied industries including lubricants, detergents, surfactants, coatings and sealants. Linoleic acid is an essential fatty acid found mostly in plant oils and is used in making soaps, emulsifiers, and quick-drying oils. The different applications of tall oil fatty acid include dimer acid, alkyd resin, fatty acid ester, others and are implemented in various sectors such as soaps and detergents, plastic additives, coatings, lubricants, fuel-additives, others.

Major players in the tall oil fatty acid (TOFA) market are Kraton Corporation, Forchem, Harima Chemicals, Georgia Pacific, Kraton Corporation, Forchem, Harima Chemicals, Georgia Pacific, Eastman, Lascaray, Chemical Associates, and Univar Solutions.

Tall Oil Fatty Acid Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides tall oil fatty acid market overview, forecast tall oil fatty acid market size and growth for the whole market, tall oil fatty acid market segments, and geographies, tall oil fatty acid market trends, tall oil fatty acid market drivers, restraints, leading competitors' revenues, profiles, and market shares.

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