Tall Oil Fatty Acid Market Size, Share, and Industry Analysis, By Product Type (Oleic Acid, Linoleic Acid, Linolenic Acid, Palmitic Acid, and Others), By End-Use Industry (Soaps and Detergents, Paints and Coatings, Automotive, Metal Working Fluids, Oil and Gas, and Others), and Regional Forecast, 2024-2032

Tall Oil Fatty Acid (TOFA) is a versatile raw material that produces alkyd resins for paints and coatings. It provides benefits such as low VOC content, fast drying properties, and cost-effectiveness. TOFA-based products are also biodegradable, making them a sustainable choice for the industry.

• The Indian paints & coatings industry is expected to grow to USD 11.91 million in the next five years from the current USD 7.38 million, according to Akzo Nobel India.

Segmentation:

Key Insights

The report covers the following key insights:

• Key Emerging Trends – For Major Regions


• Key Developments: Mergers, Acquisition, Partnerships


• Latest Technological Advancements


• Insights on Sustainability


• Porters Five Forces Analysis


• Impact of COVID-19 on the Market

Analysis by Product Type

By product type, the market is divided into oleic acid, linoleic acid, linolenic acid, palmitic acid, and others. The oleic segment holds a significant share of the global tall oil fatty acid market. Oleic Acid is a monounsaturated fatty acid found in various animal and vegetable sources. It is known for its stability and resistance to oxidation. In the context of tall oil, oleic acid contributes to the valuable properties of TOFA, making it a versatile raw material in various industrial applications.

TOFA, including its oleic acid content, produces soaps, detergents, lubricants, and different coatings and adhesives. It’s also employed in biodiesel manufacture and as an emulsifier in chemical processes. Tall oil fatty acids, including oleic acid, are favored in many sectors due to their renewable nature and relatively low environmental impact compared to fossil fuel-based products. Their functionality, biodegradability, and efficiency in various chemical reactions and processes make them a valuable resource in green chemistry and sustainable industrial practices.

Linoleic Acid, an omega-6 polyunsaturated fatty acid, plays a crucial role in influencing the properties and applications of Tall Oil Fatty Acid (TOFA). Its presence significantly impacts TOFA, which finds widespread use across multiple industries, including detergents, coatings, adhesives, rubber production, and alkyd resins for paint and coatings. This is due to its notable capacity to facilitate drying processes in these applications.

The composition of tall oil fatty acid (TOFA), including the amount of linoleic acid, can vary depending on factors such as the type of processed pine trees and the pulping process conditions. This variability enables the customization of TOFA to meet the specific requirements of different industries.

• ISO 8623:2015 Tall-oil fatty acids for paints and varnishes — Test methods and characteristic values


• ASTM D803-15(2020) Standard Test Methods for Testing Tall Oil

Analysis by End-Use Industry

By the end-use industry, the market is divided into soaps and detergents, paints and coatings, automotive, metal working fluids, oil and gas, and others. The soaps and detergents segment holds a significant share of the global tall oil fatty acid market. The soaps and detergents industry is a major global market encompassing a wide range of products used for cleaning and hygiene. This industry utilizes various raw materials, including tall oil fatty acids, to manufacture products that meet the cleaning needs of consumers and industries.

The demand for tall oil fatty acid in the soaps and detergents industry is influenced by several factors, including consumer preferences for sustainable and biodegradable products, industrial growth, and advancements in cleaning technologies. Given the ongoing global push toward sustainability, the tall oil fatty acid market is expected to grow, driven by its renewable nature and its role in producing eco-friendly cleaning products.

Regional Analysis

The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific holds a significant share of the tall oil fatty acid market. The soaps and detergents sector in the Asia Pacific region is expanding rapidly, driven by rising income, urbanization, and increased trade activity. Tall oil fatty acid product types, such as oleic acid, linoleic acid, and linolenic acid, offer several benefits, such as light color, good lubricity, oxidative stability, and low-temperature qualities that drive the demand for tall oil fatty acid.

• In 2022, Tall Oil fatty acid ranked as the world's 3104th most traded product out of 4,648. Below are the top exporters in the world
  
  
  
  • Finland USD 112 Million
  
  
  • U.S. USD 88.6 Million
  
  
  • Sweden USD 59.5 Million
  
  
  • Netherlands USD 56.4 Million
  
  
  • France USD 38.8 Million
  
  
  
  

The major tall oil fatty acid market consumers by region are China, Japan, and India in Asia Pacific; the U.S. & Canada in North America; Germany and France in Europe; and Saudi Arabia and UAE in the Middle East.

• China's soap and detergents sector has seen its revenue grow at an average annual rate of 6.5%, reaching USD 63.0 billion over the last five years.


• According to Grand Thornton, the new vehicle market is expected to show a slight growth in 2024, reaching approximately 2 million units, representing an annual increase of about five percent. Additionally, the used vehicle market is projected to continue its growth trajectory, with an estimated 7.3 million units in sales for 2024, compared to 7.05 million units in 2023.

Key Players Covered

The report includes the profiles of key players, such as Arizona Chemical Co., Ataman Kimya, Eastman Chemical Company, Forchem Oyj, Foreverest Resources Ltd., G.C. Rutteman & Co. B.V., Harima Chemicals Group, Inc., Ilim Group, Imperial Industrial Minerals Company, and Ingevity.

Key Industry Developments

• In November 2023, Ingevity announced its plans to close its DeRidder, Louisiana site by reducing the dependence on more expensive tall oil as part of a strategic shift toward higher-margin specialty production. The company aims to optimize its manufacturing network and minimize exposure to costly crude oil.

• In January 2023, LANXESS and TotalEnergies signed a cooperation agreement to supply circular styrene. TotalEnergies uses tall oil derived from tree resin, a by-product of pulp production, as the raw material. LANXESS uses this styrene to make sustainable ion exchange resins. These resins are mainly used in treating wastewater, chemical process flows, and the food industry.