- Global Tall Oil Fatty Acid Market
The rising number of applications of tall oil fatty acid is expected to support the growth of the global market in the next few years. In addition to this, the consumers are shifting their preference from tallow oil fatty acid to tall oil fatty acid in developed nations is predicted to generate potential growth opportunities for the market players in the next few years. Thanks to these factors, the market is projected to register a healthy growth rate in the near future.
- Rising Production Crude Oil to Drive Tall Oil Fatty Acid Market
The growing demand for oleic acid, especially in North America is considered as one of the major factors that is expected to encourage the growth of the global tall oil fatty acid market in the next few years. In addition to this, the significant rise in the production of crude oil in several nations is another key factor that is estimated to accelerate the growth of the market in the coming years. Furthermore, the rising demand for tall oil fatty acids from soaps and coatings and detergents industries is predicted to enhance the growth of the overall market in the next few years.
- Availability of Raw Materials to Drive Europe and North America Tall Oil Fatty Acid Market
The global tall oil fatty acid market has been categorized on the basis of geography into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, North America and Europe are projected to hold a major share of the global market in the next few years. The strong growth of these two regions can be attributed to the high and easy availability of raw materials. The rising contribution from the U.S. is considered as another major factor that is likely to enhance the growth of the market in the near future. In addition to this, a significant rise in the production capacity of paper and pulp market is likely to support the market growth. Furthermore, Asia Pacific is estimated to register a promising growth in the near future, thanks to the rising demand for tall oil fatty acid from India, China, and Japan.