Tallow Fatty Acids Market to exceed $3 billion by 2024
Published Date: May 3, 2017 Author: Global Market Insights, Inc.
Tallow Fatty Acids Market size is poised to surpass USD 3 billion; according to a new research report by Global Market Insights, Inc.
The global tallow fatty acids market size is positively influenced in the recent years due to elevating soaps & detergents across the globe. Superior conditioning and cleansing properties of the product makes it an essential ingredient in the soaps & detergents, particularly used for industrial applications. In addition, the overall cleaning business, which substantially includes soaps & detergents, is likely to exhibit gains more than 7% CAGR on account supporting government towards maintaining cleanliness and hygiene across manufacturing facilities in order to ensure healthy working atmosphere.
Escalating plastic and rubber demand various end-user businesses such as automotive, construction, packaging and electronics is another factor propelling the global tallow fatty acids market size in the coming years. In the rubber and plastic industry, the product is used as anti-tacking and vulcanization agents in order to enhance their lubricating, gelling, stabilizing and anti-caking properties.
The global tallow oil fatty acids market size is negatively influenced by strong product substitution threat offered by palm oil. In addition, drifting manufacturers focus towards manufacturing soaps, detergents and personal care products by vegetable oil on account of low cost involved in its production along with decent characteristics shall hamper the global tallow fatty acids market size by 2024.
Browse key industry insights spread across 130 pages with 152 market data tables & 13 figures & charts from the report, “Tallow Fatty Acids Market Size By Product (Saturated [Stearic Acid, Myristic Acid, Palmitic Acid], Monounsaturated, Polyunsaturated), By End-user (Soaps & Detergents, Rubber, Plastics, Personal Care Products), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Saturated tallow fatty acids market share is likely to experience growth overs 2% over the forecast timeframe. The product is chiefly used in rubber & plastics processing and in manufacturing soaps & detergents, pharmaceuticals and oilfield chemicals. Thus, robust demand for the abovementioned products will ultimately boost the industry growth by 2024. In 2016, monounsaturated led the global tallow fatty acids market share. Considerable product in cosmetics and soaps manufacturing was the major factor attributing industry growth.
In 2016, soaps & detergents was valued at over USD 500 million. Increasing product demand in soap manufacturing on account of its superior moisturizing and conditioning properties the was major factor propelling the global tallow fatty acids market share for soaps & detergents. Rubber is likely to exhibit growth over 2% from 2017 to 2024. The global tallow fatty acids market size for rubber will be mainly driven by elevating product demand as a vulcanizing agent. Furthermore, the product also helps in upgrading the rubber-metal adhesion, which is essential trait required in tire manufacturing.
In 2016, North America accounted for more than 30% of the global tallow fatty acids market share. The regional growth was mainly due to favoring regulations towards ensuring health & hygiene across manufacturing facilities. Furthermore, robust automotive manufacturing & sales in the U.S. will complement business growth for rubber processing applications. Asia Pacific is likely to experience maximum gains by 2024 particularly due to escalating end-user industries such as electronics, construction and automotive.
In 2016, the global tallow fatty acids market was fragmented with top players recording less than 30% of the business share. Major industry contributors are AkzoNobel, BASF SE, Emery Oleochemicals, Godrej Industries, Vantage Oleochemicals, LG Household and Healthcare, Twin Rivers Technologies, Acme-Hardesty, Chemol., FerroMac International, Colgate Palmolive, Chemithon Enterprises, Baerlocher GmbH. and H Foster & Co.
Tallow fatty acids market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:
Tallow Fatty Acids Market By Product
- Stearic acid
- Myristic acid
- Palmitic acid
Tallow Fatty Acids Market By End-user
- Soaps & detergents
- Personal care products
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa