Crude Tall Oil Market to Witness an Outstanding Growth by 2024 - 2031 | Citec Group Oy Ab, Ingevity Corporation

Market Overview:

The Global Crude Tall Oil Market size is expected to reach US$ 3 Bn by 2031, from US$ 1.93 Bn in 2024, growing at a CAGR of 6.5% during the forecast period.

Market Dynamics:

The global crude tall oil market is expected to witness significant growth over the forecast period owing to rising demand for biofuels. Crude tall oil is a sustainable source of bioenergy and has found increasing usage as an alternative to fossil fuels. It can be blended with diesel or used directly as a fuel. Growing awareness regarding the benefits of biofuels in reducing greenhouse gas emissions is also driving the demand for crude tall oil from the automotive industry. Additionally, growth in the construction industry has boosted the consumption of crude tall oil-based adhesives, sealants, and lubricants over the years.

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Crude Tall Oil Market Drivers

Increasing Demand for Dimer Acids from Adhesive Industry

Dimer acids are primarily used in hot melt adhesives, reactive adhesives, and pressure-sensitive adhesives. Crude tall oil is a major raw material used in dimer acid production. The global adhesive industry has been witnessing strong growth over the past few years. According to industry experts, the global adhesive market size was valued at over USD 60 billion in 2020 and is projected to grow at over 4% annually until 2028. As the adhesive industry continues to grow, the demand for dimer acids from this industry is also increasing significantly. This rising dimer acid demand acts as a major driver for the crude tall oil market.

Crude Tall Oil Market Opportunity

Emerging Application in Biofuels Production

Various organizations and academic institutes are carrying out extensive research on utilizing crude tall oil in biofuel applications such as biodiesel and sustainable aviation fuel production. As biodiesel from crude tall oil contains a high smoke point, excellent oxidation stability, and lower NOx emissions compared to biodiesel from other common feedstocks, it is considered a potential alternative transportation fuel. With growing emphasis on low-carbon fuels worldwide, the commercialization of crude tall oil-based biofuels production holds strong market opportunities over the forecast period.

Crude Tall Oil Market Trend

Rising Adoption of Bio-Based Products

Manufacturers across the globe are facing increasing pressure to shift from petroleum-based products to more sustainable bio-based alternatives due to tightening environmental regulations. Crude tall oil is a co-product of the Kraft pulping process and can be used to produce a wide range of bio-based products like resins, emulsifiers, additives, lubricants, etc. The market has been witnessing substantial growth in demand for bio-lubricants, phenolic resins, pine chemicals, and other crude tall oil derivatives. Also, several initiatives like regulations on fossil fuel use and investments in renewable chemical production are stimulating the adoption of bio-based materials. This growing trend is likely to create lucrative opportunities for market participants over the coming years.

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Top Companies Featured in This Report:

★ Citec Group Oy Ab
★ Ingevity Corporation
★ Georgia-Pacific Chemicals
★ Forchem Oyj
★ Kraton Corporation

Market Segmentation:

By Product Type:

★ By Distillation Process: Tall Oil Fatty Acids (tofa), Tall Oil Heads, Distilled Tall Oil, Tall Oil Rosin, Tall Oil Pitch

By Applications:

★ By Application: Painting And Coatings, Inks & Toners, Adhesives, Vehicle Tires, Hygiene Commodities, Substitutes For Antibiotics, Mining, Chewing Gums, Electronics, Papermaking

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Report Highlights:

📈 Examination of navigation keyword market share at both country and regional levels

📈 Thorough analysis of the competitive landscape and emerging trends

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📈 Strategic recommendations tailored for key business segments based on market insights

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Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )

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