Tallow Fatty Acids Market to see lucrative growth avenues from APAC, Soaring soap & detergent consumption to drive the demand
Publisher : Fractovia | Published Date : 2017-05-16Request Sample
The overall Tallow Fatty Acids Market has been displaying a steadfast growth path, especially in these recent years, as the soaps and detergents products exhibited the highest demand. Tallow fatty acids are basically derived from animal fats, which provides superior conditioning properties and creamy lather and are therefore, widely used in manufacturing of soaps and detergents. The growth of tallow fatty acids industry is also witnessing a spur, owing to the escalating market of cleaning products. As per statistics, in 2013, the global cleaning product market collected revenue worth USD 60 billion and is estimated to surpass USD 100 billion by 2024. A report on Tallow fatty acids market by Global Market Insights, Inc., specified that this market was worth USD 2.5 billion in 2016 and is projected to cross USD 3 billion by 2024 growing at an annual rate of 2.5% over the period of 2017-2024.
U.S. tallow fatty acids market size, by end-user, 2013 - 2024 (USD Million)
The soaps and detergent application segment of tallow fatty acids industry in 2016, generated revenue over USD 500 million and is set to display a significant growth chart over the coming years. Apart from this, the rubber application is expected to surge at a rate of over 2% from 2017-2024. The utilization of tallow fatty acids as a stabilizing agent and vulcanizing agent in the rubber manufacturing industry has propelled the market for tallow fatty acids swiftly. Moreover, the product also helps in enhancing the rubber-metal adhesion, which is required in manufacturing of tires.
Accounting for more than 30% of the global industry share, North America tallow fatty acids market stood at USD 950 million in 2016. Strict government norms in the country to maintain hygiene across medical and food & beverage industries will complement to the regional tallow fatty acids industry to grow. Moreover, robust automotive manufacturing and sales in U.S. has also favored the rubber applications within tallow fatty acids market to impel the regional industry trends.
Depending on the absence or presence of double bonds between carbon atoms, tallow fatty acids can be categorized into monounsaturated and saturated fatty acids. The mono unsaturated fatty acids are primarily used as an ingredient in the manufacturing of cosmetics and soaps. Today, consumers are more concerned about their personal well beings and beauty, which in turn has accelerated the cosmetics industry. As a result, soaring cosmetics demand have fueled the growth of monounsaturated tallow fatty acids industry share. In 2016, with the growth of affluent soaps and cosmetics market, monounsaturated product segment led the overall tallow fatty acids market share.
Saturated tallow fatty acids are saturated with hydrogen and has long chains of carboxylic acid with 12 to 24 carbon atoms. This product segment finds its prime usage in manufacturing of rubbers & plastics, pharmaceuticals, oilfield chemicals, and soaps and detergents. Pickup in demand from these products have paved a profitable growth path for saturated tallow fatty acids industry share. As per estimates, the global saturated tallow fatty acids industry is likely to record a CAGR of more than 2% over the period of 2017-2024.
Despite, North America & Europe being the leading regions in the global tallow fatty acids industry, the growth rate exhibited by Asia Pacific is also worth appreciable. Strong growth trends in the region’s end-use industries such as construction, electronics, and automotive have played a vital role in the markets coup. Scaling up of automobile sales in this region particularly in Japan, China, and India have boosted the demand of tallow fatty acids market for its rubber applications. Furthermore, the proliferating FMCG sector in the region have contributed as a prime factor driving the industry growth.
The trend of using vegetable oils instead of tallow fatty acids has greatly influenced the provinces of Asia Pacific. Potential threat offered by palm oil as a substitute for tallow fatty acid is likely to create a formidable obstacle for the overall tallow fatty acids industry outlook. Nevertheless, rising applications of tallow fatty acids in personal care, food & beverage, and pharmaceutical industries will create lucrative growth prospects for the tallow fatty acids market in the coming years.
Emery Oleochemicals, Godrej Industries, FerroMac International, Colgate Palmolive, Baerlocher GmbH, H Foster & Co Ltd., AkzoNobel, BASF SE, Vantage Oleochemicals, Twin Rivers Technologies, LG Household and Healthcare, Chemithon Enterprises, Acme-Hardesty, and Chemol Company, Inc. are some of the notable participants of the industry, accumulating major tallow fatty acids market share.
