Driven by positive application outlook from soaps & detergents, plastics, personal care products and rubber applications, tallow fatty acids market size is projected to gain remarkable traction by 2024. The demand for soaps and detergents across the globe is rapidly increasing on account of growing concerns for hygiene and cleanliness. Superior cleansing and conditioning properties of tallow fatty acid makes it an essential ingredient in the products.
The consumption of tallow fatty acids across cleaning business, which majorly includes soaps and detergents, is forecast to showcase a growth rate of more than 7% by 2024. Government awareness programs focused on maintenance of clean environment and hygiene across manufacturing facilities to ensure healthy working atmosphere will also fuel product penetration over the coming years. Global tallow fatty acids market size is forecast to exceed USD 3 billion up to 2024.
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The substance is also used in the production of plastic and rubber. Demand for plastic and rubber from various end-user businesses including construction, automotive, electronics and packaging is escalating, which in turn may propel the demand for tallow fatty acids. The product is widely used as anti-tacking and vulcanization agent in the rubber and plastic manufacturing.
Utilization in rubber and plastic production imparts lubrication, stabilizing, gelling and anti-caking properties in during the process. Monounsaturated acid, in 2016, was leading tallow fatty acids market share owing to significant product demand from cosmetics manufacturing. Saturated tallow fatty acids is majorly used in rubber and plastics processing as well as in manufacturing of oilfield chemicals and pharmaceuticals. Saturated tallow fatty acids segment is likely to grow at 2% over the analysis period.
Tallow fatty acids are best-suited for soap manufacturing on account of superior moisturizing and conditioning properties. Soaps & detergents applications was valued at over USD 500 million in 2016. Also, rubber application is expected to showcase growth rate of over 2% from 2017-2024 owing to escalating demand as a vulcanizing agent in the processing. The product also allows improved rubber-metal adhesion, an essential characteristic required in tire manufacturing.
North America tallow fatty acids industry accounted for 30% of the global share in 2016. Such exponential regional growth can be attributed to favorable government regulations towards ensuring health and hygiene across manufacturing facilities. Moreover, robust automotive manufacturing & sales in the United States will fuel product demand for rubber processing applications.
Asia Pacific tallow fatty acids industry is likely to gather commendable gains by 2024 due to expanding end-user industries such as construction, automotive and electronics. Prominent players contributing towards the global tallow fatty acids industry share are BASF SE, AkzoNobel, Emery Oleochemicals, Godrej Industries, LG Household and Healthcare, Acme-Hardesty, Colgate Palmolive, Vantage Oleochemicals, Chemithon Enterprises, among others.
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
Chapter 2. Executive Summary
2.1. Tallow fatty acids industry 360° synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. End-user trends
2.1.4. Regional trends
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