Crude Tall Oil Market Assessment and Revenue Forecast Until the End of 2028
Crude tall oil is a unique type of “oil” with properties that differ from common edible and non-edible oils. The term crude tall oil comes from the Swedish word "tallolja" which means pine oil.
[ClickPress, Tue May 21 2019] The growth of the global Crude Tall Oil Market depends on the growth of the global wood pulping sector. Different applications of crude tall oil in various industries are expected to boost the demand for crude tall oil during the forecast period. Consumers feel attracted towards crude tall oil due to the low prices offered by crude tall oil processing chemical companies. The crude tall oil is extensively used in biofuels and energy. The crude tall oil industry is expected to witness new applications and growing demand from bio-fuels during the forecast period.
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Crude tall oil is a unique type of “oil” with properties that differ from common edible and non-edible oils. The term crude tall oil comes from the Swedish word "tallolja" which means pine oil. Crude tall oil is the third most abundant chemical by-product in a Kraft mill after lignin and hemicellulose. Crude tall oil is a co-product of the paper pulping procedure used by many Kraft mills. Tall oil soap (raw rosin soap or rosinate) is collected from the Kraft industries and then acidified to make crude tall oil. Crude tall oil is a blend of various elements, such as fatty acids, resin and other neutral materials and forms water-in-oil mixtures and stabilizes mud systems at high temperatures. Crude tall oil can be further refined using separation process to segregate it further into TOFA (tall oil fatty acid), tall oil rosin and distilled tall oil. Crude tall oil finds many usages in chemical and fuel industries due to its cost-effectiveness and the fact that it is less harmful to the environment.
The demand for crude tall oil is increasing due to growing demand for low-cost and environment-friendly crude oil to be used in various value-added products. Fluctuating prices of fuels and limited resources are diverting chemical companies’ attention towards crude tall oil, which is eco-friendly and is produced as a by-product during the pulping process in the paper and pulp industry. Most Kraft pulping mills sell their waste streams to chemical companies, which further process this waste into value-added products.
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North America is anticipated to dominate the crude tall oil market by the end of 2028. Europe is the second largest crude tall oil market and expected to grow more due to the renewable energy directive of the European Union. EU’s ‘Renewable Energy Directive’ wants all EU members to confirm that at least 10% of their transport fuel comes from renewable sources by 2020. This directive can work as a key driver for the growth of the crude tall oil market in Europe during the forecast period. The Asia Pacific is also anticipated to witness remarkable growth in the crude tall oil market during the forecast period. China and ASEAN countries are expected to witness significant growth in the crude tall oil market due to their well-established paper and pulp industry. By considering the countries which having high production of crude tall oil, Scandinavia is on the fast rank followed by USA and Russia.
Global Crude Tall Oil Market: Key Players
Examples of some of the key players operating in the global crude tall oil market are:
- Citec Group Oy Ab
- Ingevity Corporation
- Georgia-Pacific Chemicals
- Forchem Oyj
- Kraton Corporation
- Pine Chemical Group
- Songchuan Pine Chemicals Co. Limited
- Meridian Chemicals LLC and
- UPM-Kymmene Oyj
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters.
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