Linseed Oil Market, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1281
Linseed Oil Market size may witness strong gains over the projected timeframe owing to increasing application scope in food, pharmaceutical, and cosmetic industry. It is widely used in manufacturing of various products including paints, gliding, putty, floorings, wood finish, linoleum, nutritional supplement and processed food.
Linseed oil is a colorless to yellow product obtained from ripened, dried seeds of flax plant and known as flaxseed oil. It can be produced by pressing or through solvent extraction process. Additionally, it polymerizes into solid form and used by blending with various resins, or solvents as impregnator.
Global flaxseed market size registered over USD 560 million in 2015. It is a nutritionally enriched seed used for animal feed and human consumption. They are mainly used in cereals, bread, energy bars, snacks, and crackers. India, China, UK, Russia, France, Argentina, and the U.S. are the largest flaxseed producers globally.
Global paint and coatings market generated over USD 135 billion in 2015 and may witness gains at over 5% during forecasted timeframe. Increasing application scope as additive used in oil paints for imparting properties such as finishing, making it fluid, transparent and glossy should drive linseed oil market size. Growing automobile and consumer goods industry may stimulate product demand. They are usually applied on vehicles body, interior and exterior house walls and corporate buildings owing to its bonding, fast drying capability and film forming.
Global dietary supplements market was valued at over USD 130 billion in 2015 and should grow at over 9%. Increasing awareness towards nutritional food intake along with favorable government regulations should drive industry growth. Linseed oil reduces risk of heart diseases and cancer, acts as a natural laxative, relieves inflammation and pain, protects from osteoporosis and stabilizes hormonal imbalance.
Global flooring market may exceed USD 330 billion by 2024 and may register close to 7% growth due to large number of upcoming construction projects in emerging economies. Linseed oil is used to bind cork particles, wood dust and related materials in manufacturing of linoleum floor board. Falling PVC floor boards demand on account of hazardous impacts on environment may positively impact linseed oil market size.
Global cosmetics market size was valued at over USD 450 billion in 2015 and may reach USD 670 billion by 2024 owing to its anti-inflammatory and moisturizing properties. Linseed oil has a major application in cosmetic industry and may show significant gains over the foreseeable future. It is used in manufacturing skin toner, moisturizers, shampoos, conditioners and hair gel.
Linseed oil market might may face substitute threats from increasing usage of synthetic alkyd resin. It causes eye and skin irritation when comes in contact and may hamper its adoption in childcare products, thereby hindering industry growth.
Flaxseed is the key raw material used for manufacturing process. Fluctuating raw material costs may hinder supply dynamics and impact linseed oil market price trend. However, technological advancement in end-user industry along with environmental regulations on using synthetic alternatives and rising demand will propel industry growth.
North America, driven by Canada, and the U.S. linseed oil market size may show significant demand owing to increasing application scope in wooden product, dietary supplement and cosmetic industries. Canada is the one of the biggest flaxseed oil supplier and the export was over 730 kilo tons in 2015.
Europe, led by UK, Russia, France and Germany linseed oil market size may show steady gains owing to growing cosmetics and medicinal sectors. Improved standard of living along with increasing health concerns should drives regional growth.
Asia Pacific, led by Japan, Taiwan, India and China linseed oil market, should witness highest gains. Strong application outlook in paints and food processing industries should drive regional growth. China imports flaxseed and the production was around 350 kilo tons in 2015.
Global linseed oil market share is competitive. Some key players operating in the industry include ADM, Cargill, Bioriginal Food & Science Corp, and Natural Brand. Other industry participants include Barlean’s, GranoVita, OmegaFactors, Linolie Danmark Aps, and Gustav Heess.
Most of the companies are adopting strategies and mergers & acquisitions with companies to enhance business in regional and international markets. Strong R&D spending to expand application areas and enhance product portfolio.
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