Global tall oil fatty acid market segmentation by end-user and geography
Technavio’s report on the global tall oil fatty acid market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user, including soaps and detergents, plastic additives, coatings, lubricants, and fuel additives. As projected in 2016, approximately 27% of the market share originated from the soaps and detergents segment. Due to the low cost of tall oil fatty acid used in the production of soaps and detergents, there is an increase in demand for the soaps and detergents in the tall oil fatty acid market. It is used as an alternative to tallow fatty acid to produce soap and detergents.
Based on geography, the global tall oil fatty acid market has been segmented into North America, Europe, APAC, and ROW. As of 2016, North America has a market share of approximately 42%. Increased drilling activities and the rise in the demand for drilling fluids is driving the growth in this region. The increase in demand for drilling fluids and lubricants is expected to increase the demand for tall oil fatty acid in this region.
“Demand in this region is expected to increase due to the easy availability and improved technology to extract tall oil fatty acid. Contributing factors to the significant growth of the tall oil fatty acid market in North America is attributed to the exploration of shale gas, coupled with the increased drilling activities and crude oil production in the US,” says Kurva Samba Sivudu, a lead analyst at Technavio for bio-chemicals and bio-materials research.
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Tall oil fatty acid market: competitive vendor landscape
With the presence of few multinational players, the global tall oil fatty acid market is concentrated. Due to high investment cost involved in the setting up of the manufacturing plants, the threat of new entrants is relatively moderate. The threat of substitutes such as other plant-based and animal-based fatty acids is the key factor influencing the market from a competitive view. To make their products innovative and different from others' products, competitors are highly investing in R&D. Since the market is concentrated, there is intense competition among the existing players.
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Other topics covered in the report:
- Rising use in soaps and detergents
- Increasing use in various products and end-users
- Declining production of paper
- Threat of substitutes
- Increasing use in rubber industry
- Demand for lubricating agents
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