Crude Tall Oil Market Synopsis
Crude Tall Oil Market Size Was Valued at USD 1.89 Billion in 2023, and is Projected to Reach USD 3.36 Billion by 2032, Growing at a CAGR of 6.6 % From 2024-2032.
A crude tall oil obtained from chemical pulping of pine trees which finds its main application in paper and wood industry. Crude tall oil is a multipurpose material derived from wood and is used in chemicals, lubricants, adhesives, inks and personal products. It is contained of fatty acids, resin acids and some other substances which can be further purified and utilized as useful products such as Tall Oil Fatty Acids (TOFA), rosin and pitch. The market for crude tall oil is on the rise due to applications in various segments such as sustainable petrochemicals, for other industrial uses as well as its importance in high valued consumer products.
Crude tall oil (CTO) is mainly generated as a co-product of the kraft pulping process in paper industries and their major constituents, fatty acids, resin acids, and pitch, are refined into numerous valuable products. These products find their application in chemicals, paints and coatings, adhesives, automotive and personal care industries. Increased concerns about sustainable feedstock along with increasing legislation pressuring the petroleum-based products market also provide the adequate market conditions for crude tall oil. Moreover, they further note that growth in the market for industrial applications of CTO, including as a feedstock for bio-based chemicals, is driving market growth.
The growing buyer interest in CTO because of the lower cost per raw material as compared to other raw materials which cements its position in the market. The change of trends whereby customers went for products from carbon neutral, renewable and non-hazardous sources contributed to enhanced uptake of CTO derived products in various fields. The expanded utilization of crude tall oil to produce surfactants for personal care applications combined with its key function as an input in the creation of green paints and coatings is playing instrumental in the growth of the market.
Crude Tall Oil Market Trend Analysis:
Increasing Demand for Bio-Based Products and Sustainable Alternatives
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A key factor that is likely to spur the development of the crude tall oil market is the rising market for bioproducts and non-petroleum-based products. As concerns for ecological footprint and sustainable development emerge, industries increasingly turn to greener more sustainable resources. Crude tall oil which is an extract of pine trees is a highly sustainable material that can be used in making chemical products such as fatty acids, rosin, and other types of surfactants for several uses. Currently, the global exploration of products from renewable resources is increasing steadily and especially in industries like personal care, automotive, construction, and packaging since the use of fossil resources needs to be minimized to protect the environment as much as possible. These regulatory and market demands are driving this change, and crude oil is becoming even more desirable as a means for meeting such consumer requirements.
Expansion in Emerging Markets
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A new first for the crude tall oil is that the market for this product should expand to the developing countries given the rising demand for bio-based goods. Many developing countries in the Asia-Pacific, Latin America and the Middle East continue to industrialize and urbanize, thereby increasing demand for specialty chemicals, paints, coatings and other products in which crude tall oil and its by products are finding application. These regions are also witnessing increasing concern in environmental issues as well as enhanced regulatory policies banning products with petrochemical derivatives. With manufacturers in these regions moving towards sustainable production processes, and use of renewable raw materials, the crude tall oil market is set to grow.
Crude Tall Oil Market Segment Analysis:
The crude Tall Oil Market is Segmented on the basis of the distillation process, application, end user and region.
By Distillation Process, Tall Oil Fatty Acids (TOFA) segment is expected to dominate the market during the forecast period
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Within the assessed segments, the TOFA segment is expected to display the highest growth rate in the overall crude tall oil market through the forecast period. Frequently used in its derivative form known as TOFA, this product is applied in numerous areas of endeavor, such as coatings, adhesives, lubricants, and surfactants. The segment’s high usage can be due to the increasing sophistication of consumers looking for sustainable materials that are environmentally friendly over petroleum-based chemicals. TOFA is appreciated for its fine emulsifying activity and surface-active character for which it finds a wide application in manufacturing of home care products, toilet requisites, and industrial chemicals. Moreover, the increasing demand of TOFA for usage in manufacturing environmentally friendly paint and coatings together with the use of TOFA in the production of lubricant and biodiesel also fuel continued growth.
By Application, the Hygiene Commodities segment expected to hold the largest share
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The largest market share is likely to be attributed to the hygiene commodities segment as there is a rising demand for crude tall oil as an ingredient in personal care and hygiene products due to its natural and sustainable nature. Crude tall oil is applied in manufacture of the varied hygienic merchandise such as soaps, shampoos, detergents and other body products due to its properties of emulsification and texturization. Owing to the growing consciousness of the ill effects of synthetic chemicals on the human body especially those used in soaps, and shampoos among other products, there is a growth towards bio-based products, and crude tall oil fits this new trend. The segment’s growth is also driven by increasing consumer consciousness in developed markets for environment-friendly, certified organic and non-animal-tested products. Consumers are so concerned about safer products, and the idea of developing ingredients that are renewable and non-toxic, such as Crude Tall Oil, appeal to many manufacturers
Crude Tall Oil Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
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North America would continue to have the largest share of the crude tall oil market, due to better industrialization policies in the region, and higher demand for bio-based products. The United States remains the world’s leading consumer and producer of crude tall oil derivatives including Tall Oil Fatty Acids (TOFA) Rosin, and other chemical products. In addition, there is growing concern of sustainability and green chemistry in North America that is driving adoption of crude tall oil as a green option to petroleum.
- Furthermore, enhanced research and development activity is taking place in North America which is strengthening and expanding the production of crude tall oil derivatives and uses. High processing technology within this region makes the supply of crude oil to various production units easy and steady across several production industries. North America is also experiencing a similar shift whereby it is observed that the consumers are demanding more ecofriendly as well as bio-based products more so in the regions PC&CG markets.
Active Key Players in the Crude Tall Oil Market:
- AkzoNobel (Netherlands)
- Arizona Chemical (USA)
- Chemical Products Corporation (USA)
- Eastman Chemical Company (USA)
- Forestar Group Inc. (USA)
- Harima Chemicals Group, Inc. (Japan)
- Huntsman Corporation (USA)
- Ingevity Corporation (USA)
- Kraton Polymers (USA)
- Macdermid, Inc. (USA)
- Oleo-Chemical (Malaysia)
- Rosin and Turpentine Co. (USA)
- Sasol Limited (South Africa)
- Solvay (Belgium)
- Takasago International Corporation (Japan)
- Other Active Players
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Global Crude Tall Oil Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.89 Billion |
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Forecast Period 2024-32 CAGR: |
6.6 % |
Market Size in 2032: |
USD 3.36 Billion |
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Segments Covered: |
By Distillation Process |
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By Application |
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By End User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Crude Tall Oil Market by Distillation Process
4.1 Crude Tall Oil Market Snapshot and Growth Engine
4.2 Crude Tall Oil Market Overview
4.3 Tall Oil Fatty Acids (TOFA) Tall Oil Heads Distilled Tall Oil Tall Oil Rosin Tall Oil Pitch
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Tall Oil Fatty Acids (TOFA) Tall Oil Heads Distilled Tall Oil Tall Oil Rosin Tall Oil Pitch: Geographic Segmentation Analysis
Chapter 5: Crude Tall Oil Market by Application
5.1 Crude Tall Oil Market Snapshot and Growth Engine
5.2 Crude Tall Oil Market Overview
5.3 Painting and coatings Inks & Toners Adhesives Vehicle Tires Hygiene Commodities Substitutes for antibiotics Mining Chewing Gums Electronics Papermaking
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Painting and coatings Inks & Toners Adhesives Vehicle Tires Hygiene Commodities Substitutes for antibiotics Mining Chewing Gums Electronics Papermaking: Geographic Segmentation Analysis
Chapter 6: Crude Tall Oil Market by End User
6.1 Crude Tall Oil Market Snapshot and Growth Engine
6.2 Crude Tall Oil Market Overview
6.3 Metalworking Building & Construction Mining Industry Personal Care & Cosmetics Automobile
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Metalworking Building & Construction Mining Industry Personal Care & Cosmetics Automobile: Geographic Segmentation Analysis
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Crude Tall Oil Market Share by Manufacturer (2023)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 AKZONOBEL (NETHERLANDS)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 ARIZONA CHEMICAL (USA)
7.4 CHEMICAL PRODUCTS CORPORATION (USA)
7.5 EASTMAN CHEMICAL COMPANY (USA)
7.6 FORESTAR GROUP INC. (USA)
7.7 HARIMA CHEMICALS GROUP INC. (JAPAN)
7.8 HUNTSMAN CORPORATION (USA)
7.9 INGEVITY CORPORATION (USA)
7.10 KRATON POLYMERS (USA)
7.11 MACDERMID INC. (USA)
7.12 OLEO-CHEMICAL (MALAYSIA)
7.13 ROSIN AND TURPENTINE CO. (USA)
7.14 SASOL LIMITED (SOUTH AFRICA)
7.15 SOLVAY (BELGIUM)
7.16 TAKASAGO INTERNATIONAL CORPORATION (JAPAN)
7.17 OTHER ACTIVE PLAYERS
Chapter 8: Global Crude Tall Oil Market By Region
8.1 Overview
8.2. North America Crude Tall Oil Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By Distillation Process
8.2.4.1 Tall Oil Fatty Acids (TOFA) Tall Oil Heads Distilled Tall Oil Tall Oil Rosin Tall Oil Pitch
8.2.5 Historic and Forecasted Market Size By Application
8.2.5.1 Painting and coatings Inks & Toners Adhesives Vehicle Tires Hygiene Commodities Substitutes for antibiotics Mining Chewing Gums Electronics Papermaking
8.2.6 Historic and Forecasted Market Size By End User
8.2.6.1 Metalworking Building & Construction Mining Industry Personal Care & Cosmetics Automobile
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Crude Tall Oil Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By Distillation Process
8.3.4.1 Tall Oil Fatty Acids (TOFA) Tall Oil Heads Distilled Tall Oil Tall Oil Rosin Tall Oil Pitch
8.3.5 Historic and Forecasted Market Size By Application
8.3.5.1 Painting and coatings Inks & Toners Adhesives Vehicle Tires Hygiene Commodities Substitutes for antibiotics Mining Chewing Gums Electronics Papermaking
8.3.6 Historic and Forecasted Market Size By End User
8.3.6.1 Metalworking Building & Construction Mining Industry Personal Care & Cosmetics Automobile
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Crude Tall Oil Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By Distillation Process
8.4.4.1 Tall Oil Fatty Acids (TOFA) Tall Oil Heads Distilled Tall Oil Tall Oil Rosin Tall Oil Pitch
8.4.5 Historic and Forecasted Market Size By Application
8.4.5.1 Painting and coatings Inks & Toners Adhesives Vehicle Tires Hygiene Commodities Substitutes for antibiotics Mining Chewing Gums Electronics Papermaking
8.4.6 Historic and Forecasted Market Size By End User
8.4.6.1 Metalworking Building & Construction Mining Industry Personal Care & Cosmetics Automobile
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Crude Tall Oil Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By Distillation Process
8.5.4.1 Tall Oil Fatty Acids (TOFA) Tall Oil Heads Distilled Tall Oil Tall Oil Rosin Tall Oil Pitch
8.5.5 Historic and Forecasted Market Size By Application
8.5.5.1 Painting and coatings Inks & Toners Adhesives Vehicle Tires Hygiene Commodities Substitutes for antibiotics Mining Chewing Gums Electronics Papermaking
8.5.6 Historic and Forecasted Market Size By End User
8.5.6.1 Metalworking Building & Construction Mining Industry Personal Care & Cosmetics Automobile
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Crude Tall Oil Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By Distillation Process
8.6.4.1 Tall Oil Fatty Acids (TOFA) Tall Oil Heads Distilled Tall Oil Tall Oil Rosin Tall Oil Pitch
8.6.5 Historic and Forecasted Market Size By Application
8.6.5.1 Painting and coatings Inks & Toners Adhesives Vehicle Tires Hygiene Commodities Substitutes for antibiotics Mining Chewing Gums Electronics Papermaking
8.6.6 Historic and Forecasted Market Size By End User
8.6.6.1 Metalworking Building & Construction Mining Industry Personal Care & Cosmetics Automobile
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Crude Tall Oil Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By Distillation Process
8.7.4.1 Tall Oil Fatty Acids (TOFA) Tall Oil Heads Distilled Tall Oil Tall Oil Rosin Tall Oil Pitch
8.7.5 Historic and Forecasted Market Size By Application
8.7.5.1 Painting and coatings Inks & Toners Adhesives Vehicle Tires Hygiene Commodities Substitutes for antibiotics Mining Chewing Gums Electronics Papermaking
8.7.6 Historic and Forecasted Market Size By End User
8.7.6.1 Metalworking Building & Construction Mining Industry Personal Care & Cosmetics Automobile
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
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Global Crude Tall Oil Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.89 Billion |
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Forecast Period 2024-32 CAGR: |
6.6 % |
Market Size in 2032: |
USD 3.36 Billion |
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Segments Covered: |
By Distillation Process |
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By Application |
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By End User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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