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
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, 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.
Market Segments' Analysis
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.
The following are the key players in the Tallow Fatty Acids Market-
· 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.
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Tallow Fatty Acids Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Tallow Fatty Acids Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
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