Stratview Research has published a new report titled “Tallow Fatty Acids Market” which is segmented by Product Type (Saturated Fatty Acids [Stearic Acid, Myristic Acid, and Palmitic Acid], Monounsaturated Fatty Acids, and Polyunsaturated Fatty Acids), by End-User Type (Soaps & Detergents, Rubber, Plastics, Personal Care Products, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, tallow Fatty Acids Market is likely to witness a CAGR of 2.8% during the forecast period. Growing rubber and plastics industry and rising product demand in manufacturing soaps & detergents are some of the key factors accelerating the growth of the market over the forecast period.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Based on the product type, the market is segmented as saturated fatty acids, monounsaturated fatty acids, and polyunsaturated fatty acids. Saturated fatty acid is estimated to witness significant growth in the market during the forecast period on account of its wide utilization in production of soaps & detergents, oilfield chemicals and pharmaceuticals, and rubber & plastics. On the other hand, monounsaturated fatty acids are estimated to hold significant share of the market owing to growing cosmetic products’ demand among consumers.
Based on the end-user type, the market is segmented as soaps & detergents, rubber, plastics, personal care products, and others. Soaps & detergents are estimated to account for the major share of the market over the forecast period. Tallow fatty acid is mainly used in manufacturing soaps, owing to its high conditioning and moisturizing properties, which drives the growth of the segment. Thus, vigorous growth in the cleaning and detergents industry on account of improving consumer lifestyle is expected to fuel the growth of the market. On the other hand, rubber is estimated to witness significant growth in the market, majorly on account of increasing automobile manufacturing and sales, eventually giving rise to the product demand for tire manufacturing.
In terms of regions, Asia-Pacific dominated the market for tallow fatty acids in 2021, and the region is expected to witness significant growth in the market over the forecast period, owing to the growing regional FMCG sector with China, India, Japan, and Indonesia being the major countries with lucrative growth opportunities in the regional market. Also, North America is estimated to hold the largest share of the market during the forecast period. The growth of the region’s market is on account of strict government rules and regulations to maintain hygiene across the food & beverage and medical industries, and strong automotive manufacturing and sales in the region.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Tallow Fatty Acids Market:
· AkzoNobel
· BASF SE
· Chemol Company Inc.
· Emery Oleochemicals
· FerroMac International NV
· Godrej Industries
· LG Household and Healthcare, Limited
· Twin Rivers Technologies
· Vantage Oleochemicals, Inc.
· VVF LLC.
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