Tall Oil Fatty Acid Market to Record a CAGR of about 5%| Technavio's Research Insights Highlight Rising Use in Soaps and Detergents as Key Driver

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Vendor Insights

• Eastman Chemical Company, Georgia-Pacific Chemicals, Harima Chemicals Group, Ingevity, Kraton Corp., ExxonMobil, Forchem, Pasand Speciality Chemical, Technical Industries, Werner G.Smith are some of the major vendors in the market.
• The tall oil fatty acid market consists of limited multinational players.
• The threat of substitutes such as other plant-based and animal-based fatty acids is a key factor driving the market.
• Competitors are highly investing in R&D activities to make their products innovative and differentiate their offerings from others.

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Geographical Market Analysis

• Based on geography, the market has been segmented into APAC, Europe, North America, and ROW.
• The market for tall oil fatty acid was dominated by North America in 2016.
• The high growth rate of this region is because of the increased drilling activities and the rise in the demand for drilling fluids.
• In addition, the easy availability and improved technology to extract tall oil fatty acid are likely to increase the demand in this region.
• The exploration of shale gas, coupled with increased drilling activities and crude oil production in the US, is contributing to the significant growth of the tall oil fatty acid market in North America.

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Key Market Trends:

• The increasing use in the rubber industry is another major factor supporting the tall oil fatty acid market growth.
• Tall oil fatty acid is used as a stabilizing and vulcanizing agent in the manufacturing of rubber.
• As the demand for vulcanized rubber is expected to grow, the use of tall oil fatty acid will also increase in the rubber industry.

Key Market Challenges:

• The declining production of paper will be a major challenge for the tall oil fatty acid market.
• As tall oil fatty acid can be derived from plants, its production capacity is limited. Its feedstock is crude tall oil (CTO), which is produced through the wood pulping process associated with paper milling.
• The decline in the production of paper due to the restrictions on cutting trees to produce paper will hamper the production rate of CTO, resulting in an overall decline in the production of tall oil fatty acid.

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