The Tallow Fatty Acids Market Is Predicted To Reach USD 2.81 Billion With A CAGR Of 2.50% According To Market Data Forecast Report.

The Tallow Fatty Acids Market Is Predicted To Reach USD 2.81 Billion With A CAGR Of 2.50% According To Market Data Forecast Report.

ID: 6508 | October 2018 | Region: Global

The Tallow Fatty Acids Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Tallow Fatty Acids Market is estimated to be USD 2.48 billion in 2016 and predicted to rise to USD 2.81 billion by 2021 with a CAGR of 2.50%. The market is segmented by Product (Saturated (Myristic Acid, Stearic Acid, Palmitic Acid), Monounsaturated, Polyunsaturated) and End-user (Soaps & Detergents, Rubber, Plastics, Personal Care Products). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

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 global tallow oil fatty acids market size in the near future.

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 global tallow fatty acids market.

North America accounts for the largest share of the market followed by Europe and Asia Pacific. Presence of stringent government policies in order to maintain hygiene across food and beverage and medical industry is a prime factor driving the industry growth. Strong automotive manufacturing and sales is another factor pushing the regional industry for rubber applications. Furthermore, increasing demand for plastic in this region due to rising prevalence of substantial end-user industries such as automotive, electronics, etc. will complement regional growth. Asia Pacific is expected to register the highest growth rate in the coming years due to the growing automotive manufacturing and sales in India, China, Japan and Indonesia is one amongst the major factor propelling the regional growth. Positive growth indicators in the regional FMCG sector is the chief factor driving the overall industry growth in the region, as soaps and detergents are one of the important consumer goods. Moreover, growth in the regional end-user businesses such as electronics and construction has substantially stimulated the overall rubber and plastic demand in the region, which in turn boosts the market size in this region.

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.

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