According to a new report by Expert Market Research titled, “Global Crude Tall Oil Derivatives Market Share, Size, Report and Forecast 2024-2032″, the global crude tall oil derivatives market size is projected to grow at a CAGR of 4.5% between 2024 and 2032. Aided by the increasing environmental awareness and the growing demand for sustainable and versatile products, the market is expected to grow significantly by 2032.
Crude tall oil, a by-product of the wood pulping process in the paper industry, is a versatile material used in a range of applications. It is composed of fatty acids, rosin acids, and unsaponifiable. The derivatives of CTO, such as tall oil fatty acids (TOFA), tall oil rosin (TOR), and distilled tall oil (DTO), have found extensive applications across various industries, including adhesives, inks, coatings, and biofuels.
The crude tall oil derivatives market growth is significantly driven by the shift towards eco-friendly and sustainable raw materials. CTO derivatives are seen as a greener alternative to conventional petrochemicals in many industrial applications due to their biodegradability and lower carbon footprint. This environmental advantage aligns well with the global push towards sustainability and reduction of greenhouse gas emissions.
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In the adhesives and sealants industry, CTO derivatives offer excellent properties such as adhesive strength, resistance to temperature variations, and flexibility. These characteristics make them ideal for use in construction, automotive, and packaging industries. Similarly, in the coatings industry, CTO derivatives are valued for their ability to improve the drying times, gloss, and durability of paints and coatings.
The rising demand in the biofuels sector is another key factor propelling the crude tall oil derivatives market demand. TOFA, a derivative of CTO, is increasingly used in the production of biodiesel as it presents a sustainable and cost-effective feedstock. The growing global emphasis on renewable energy sources has further bolstered the use of CTO derivatives in biofuel production.
Among the derivatives, TOFA holds a prominent market share due to its wide range of applications in adhesives, rubbers, and alkyd resins. The market is also segmented geographically, with Europe accounting for a significant portion of the crude tall oil derivatives market share due to its robust pulp and paper industry and stringent environmental regulations favouring bio-based products.
Furthermore, the pulp and paper industry continues to be a significant source of CTO, and the steady growth in this sector ensures a consistent supply of raw material for CTO derivatives. This stability in supply is crucial in maintaining the market’s growth trajectory.
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Market Segmentation
The market can be divided based on fraction, application, end use, and region.
Market Breakup by Fraction
• Tall Oil Fatty Acid
• Distilled Tall Oil
• Tall Oil Rosin
• Tall Oil Pitch
• Others
Market Breakup by Application
• Emulsifier
• Rubber Processing
• Asphalt Additives
• Paint and Coating
• Epoxy Additives
• Others
Market Breakup by End Use
• Automotive
• Construction
• Speciality Chemicals and Petrochemicals
• Oil and Gas
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global crude tall oil derivatives market. Some of the major players explored in the report by Expert Market Research are as follows:
• Kraton Corporation.
• Pine Chemical Group
• Forchem Oyj
• SunPine AB
• Ingevity Corporation
• Others
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