Home > Food & Beverages > Food Additives > Preservatives > Tallow Fatty Acids Market
Tallow Fatty Acids Market Size
- Report ID: GMI1538
- Published Date: Apr 2017
- Report Format: PDF
Tallow Fatty Acids Market Size
Tallow Fatty Acids Market size was more than USD 2.5 billion in 2016 and is estimated to witness growth more than 2.5% over the projected timespan./p>
Increasing soaps and detergents demand across the globe will be the major factor propelling the global tallow fatty acids market size over the forecast timespan. The product (stearic acid, palmitic acid and oleic acid) are majorly used in manufacturing soaps and detergents, thus elevating soaps and detergent business will subsequently boost the overall industry size by 2024. For instance, the product is majorly used in the soaps to provide creamy lather along with superior conditioning properties. In addition, the global cleaning product market revenue in 2013 was more than USD 60 billion and is projected to exceed USD 100 billion by 2024. Furthermore, prevalence of favoring regulations regarding cleanliness and hygiene in the food & beverage and manufacturing industries will proliferate the global tallow fatty acids market size by 2024./p>
Positive growth indicators in the rubber and plastics industry will stimulate the overall tallow fatty acids market share in the coming years. The product is widely used in the rubber and plastics industry on account of its ability to offer stabilizing, lubricating, gelling, and anti-caking characteristics. For instance, across rubber processing the product (stearic acid) is used anti-tacking and vulcanization agents and in plastics it is used as additives. Thus, escalating rubber and plastic demand from various end-user industries such as packaging, building & construction, automotive and electronics will drive the global tallow oil fatty acids market size in the near future./p>
| Report Attribute | Details |
|---|---|
| Base Year: | 2016 |
| Tallow Fatty Acids Market Size in 2016: | 2.5 Billion (USD) |
| Forecast Period: | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR: | 2.5% |
| 2024 Value Projection: | 3 Billion (USD) |
| Historical Data for: | 2013 to 2016 |
| No. of Pages: | 130 |
| Tables, Charts & Figures: | 165 |
| Segments covered: | Product and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Drifting industry trends of manufacture soaps and detergents from vegetable oils over the product may hamper the global tallow oil market size over the forecast timeframe. For instance, the product faces stiff substitution threat from palm oil. In addition, palm oil production is comparatively low and is thus preferred in the business. However, rising product applications in industries such as food & beverage, pharmaceuticals and personal care will create new growth avenues for the overall tallow oil fatty acids market by 2024. For instance, the product is classified as GRAS (Generally Recognized As Safe) by the FDA for its use in food products such as candies.
