Crude Tall Oil Market is Anticipated to Witness High Growth Owing to Rising Demand from Construction Industry

 

Crude Tall Oil Market


Crude tall oil is a by-product of the kraft pulping process used by many paper mills that derives its name from the tall or tree-like appearance of some of its components under magnification. It is traditionally used in the manufacture of diverse products such as roofing products, printing inks, controlled-slow release fertilizers, metalworking fluids, and drilling muds. The advantages of crude tall oil include low cost, promotion of plant growth, and biodegradability. With the increasing application of crude tall oil derivatives in construction materials such as sealants and adhesives, the demand for crude tall oil is expected to surge.

The Global crude tall oil market is estimated to be valued at US$ 1.93 BN in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Crude Tall Oil market are Citec Group Oy Ab, Ingevity Corporation, Georgia-Pacific Chemicals, Forchem Oyj, Kraton Corporation. Citec Group Oy Ab is a leading manufacturer of distilled tall oil products for construction and coating applications. Ingevity Corporation is a major producer and supplier of crude tall oil derivatives to automotive, industrial lubricant and printing ink markets globally.

The key opportunities in the Global Crude Tall Oil Market Demand include rising application in biofuels production, emerging use in green tires, and increasing penetration in sports turf and gardening markets. The biofuel production from crude tall oil has the potential to reduce dependence on fossil fuels. Also, crude tall oil derivatives are finding increasing usage as renewable and sustainable components in tires.

Globally, the crude tall oil market is anticipated to witness high growth in Asia Pacific region owing to rapid infrastructural development and construction activities in countries like China and India. Furthermore, the increasing demand from North America and Western Europe is expected to supplement the global expansion of crude tall oil market over the forecast period.

Market drivers

The primary driver for crude tall oil market is the increasing application of crude tall oil derivatives in construction materials such as sealants, coatings, and adhesives. With rapid urbanization and infrastructural projects worldwide, the construction industry is booming which is positively impacting the consumption of crude tall oil based products.

Market restraints

Volatility in raw material supply is a major restraint for crude tall oil market. As crude tall oil is obtained from pulp industry as a by-product, any fluctuation in wood supply or changes in pulping process can impact the availability of crude tall oil. This makes the prices of crude tall oil unpredictable at times.

Segment Analysis

The global crude tall oil market is segmented into dimer acid, alkyd resin, fuel & fuel additives, metallic soaps, and others. The dimer acid segment dominates the market and accounts for more than 30% of global sales. Dimer acids find wide applications in synthetic and natural resins that are used for coating, adhesive, printing ink, and construction applications. They provide better flexibility and adhesion properties to the resins.

Global Analysis

Europe accounts for the largest share in the global crude tall oil market, both in terms of production and consumption. Countries like Finland, Sweden, and Estonia are the major producers of crude tall oil in Europe. This is because of the large presence of pulping industry in these countries. The Asia Pacific region is expected to witness the highest growth during the forecast period. Developing nations like China and India are shifting focus towards usage of bio-based raw materials in different end-use industries, which is expected to drive the demand for crude tall oil in this region.


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