North America Tallow Fatty Acids Market

North America Tallow Fatty Acids Market Analysis:

North America Tallow Fatty Acids Market is expected to grow at 2.12% CAGR from 2020 to 2026 and it is estimated that the North America market was valued at USD 0.99 billion in 2020 and is relied upon to reach USD1.1 billion by 2026.

Tallow is a condensed form of beef or mutton fat. It is a solid at room temperature. Unlike suet, tallow can be stored for prolonged periods without the need for refrigeration to prevent its decomposition, provided it is kept in an airtight container to prevent oxidation. Tallow Fatty Acid is derived from animal sources such as concentrated beef fat or mutton.

North America Tallow Fatty Acids Market Growth

Growing demand for soaps and detergents worldwide is expected to be a key driving factor for the market growth. Fatty acids such as stearic acid, palmitic acid and oleic acid are widely used in manufacturing of soaps and detergents, thus increasing the business for soaps and detergent which in turn will boost the growth of overall industry.

Furthermore, growing prevalence and stringent policy regarding cleanliness and hygiene in the food and beverage and manufacturing industries will further aid the market growth. Positive growth of the rubber and plastics industry has led to the overall growth of the market. The product is extensively used in the rubber and plastics industry due to its ability to offer stabilizing, lubricating, gelling, and anti-caking characteristics.

For instance, stearic acid is used across the rubber processing industry as an anti-tacking and vulcanization agents and in plastics it is used as additives.  The rubber and plastic demand from various end-user industries such as building and construction, automotive, packaging, and electronics will drive the North America tallow oil fatty acids market size in the near future.

REPORT COVERAGE:

Recent Developments:

BASF has completed the acquisition of a variety of Bayer businesses and assets. The transaction is a strategic addition to BASF's crop protection, biotechnology and digital agriculture activities and marks its entry into seeds, non-selective herbicides and nematicidal seed treatments. BASF entered into agreements in October 2017 and April 2018 to acquire the businesses and assets that Bayer has offered to sell as part of its acquisition of Monsanto, for a cash purchase price of € 7.6 billion, subject to certain adjustments to the closing. Around 4,500 employees join BASF through the acquisition.

DowDuPont today announced the successful merger of equals between The Dow Chemical Company and EI du Pont de Nemours & Company, effective August 31, 2017. The combined entity operates as a holding company under the name “DowDuPont ™” with three divisions: Agriculture, Materials Science and Specialty Products. Shares of DuPont and Dow were delisted at the close of the New York Stock Exchange (NYSE) on August 31, 2017. Starting today, DowDuPont will begin trading on the New York Stock Exchange under the symbol of quote "DWDP".

Pursuant to the merger agreement, Dow shareholders received a fixed exchange ratio of 1.00 DowDuPont shares for each Dow share, and DuPont shareholders received a fixed exchange ratio of 1,282 DowDuPont shares for each share.

North America Tallow Fatty Acids Market Segmentation

The North America market for Tallow Fatty Acids is segmented by Product and End User. On the basis of Product, it is segmented into Saturated, Monounsaturated and Polyunsaturated. The Saturated sub segment is further segmented into Myristic Acid, Stearic Acid and Palmitic Acid. Saturated tallow fatty acids have long chains of carboxylic acid with 12 to 24 carbon atoms, which are saturated with hydrogen and is primarily used in the manufacturing of soaps and detergents, rubber and plastics, oilfield chemicals and pharmaceuticals. Thus, strong demand for these products will subsequently boost business growth.

Monounsaturated tallow fatty acids market accounts for the largest share in this market segment due to its extensive use in manufacturing soaps and cosmetics. Increasing consumer focus towards personal wellbeing has led to the rapid growth of the cosmetic industry, which in turn will aid the market. On the basis of End User, it is segmented into Soaps & Detergents, Rubber, Plastics, Personal Care Products.

The product owing to its high conditioning and moisturizing properties is mainly used in manufacturing soaps. Rapid growth in the cleaning and detergents industry due to the improving consumer lifestyle dynamics is further expected to boost the market growth. The product primarily used as stabilizing agents and are effective lubricants which reduce adhesion between vulcanized rubber layers. It also helps in reducing the rubber-metal adhesion, which is an essential requirement in the manufacturing of tires.

An increase in automobile manufacturing and sales will increase the product demand for tire manufacturing, which will subsequently drive the North America tallow fatty acids market.

Impact of COVID-19 on North America Tallow Fatty Acids Market

COVID-19 has affected almost every country in the world and India is no exception. Some countries are severely affected, while others have managed to control the spread by implementing containment measures and maintaining social distancing. The World Bank said at a press conference that India would likely post its worst growth performance since liberalization in 1991 this fiscal year due to the Corona outbreak. Restaurants and cafes have been on the front lines of the crisis, and many have already been forced to close due to city-wide closures or a decline in customs due to social distancing.

Regional Analysis:

Geographically the North America Tallow Fatty Acids Market is segmented into US, Canada, Mexico and Rest of North America.

The North America Tallow Fatty Acids market has been categorized on the basis of geography to offer a clear understanding of the market. North America Tallow Fatty Acids Market has been divided into the United States, Canada, Mexico and rest of North America. North America represents the majority of the market. The presence of strict government policies to maintain hygiene in the food and medical industry is a major factor in the growth of the industry. Another factor that drives the regional industry for rubber applications is the robustness of the manufacture and sale of automobiles. Also, the growing demand for plastic in this region due to the increasing prevalence of large end-user industries such as automotive, electronics, and others will complement regional growth.

Leading Company

Godrej Industries had the largest share of the North America Tallow Fatty Acids Market in terms of sales revenue in 2021.

North America Tallow Fatty Acids Market Key Players:

Some of the companies dominating the market are Godrej Industries, Vantage Oleochemicals Inc., BASF SE, AkzoNobel, Twin Rivers Technologies, VVF L.LC, FerroMac International, LG Household and Healthcare, Limited, Emery Oleochemicals, Chemol Company Inc., Colgate Palmolive, Baerlocher GmbH, Chemithon Enterprises, Acme-Hardesty Co. and H Foster & Co. Ltd.