Tallow fatty acids are animal derivatives composed of triglycerides compounds. These fatty acids are used in the soap making application and are also used in the manufacture of bio-diesel. Plastics, personal care products, lubricants, resins, industrial cleaners, textile, and rubber are some of the applications of the tallow fatty acids.
The global tallow fatty acids market is estimated to account for US$ 2,671.0 Mn in terms of value and 1,618.2 Kilo Tons in terms of volume in 2019.
Increasing demand for fatty acids from rubber and plastic manufacturing industries is driving the market growth. Growing production of plastic and rubber as these are the most widely used product in day-to-day life is contributing to market growth. Stearates are majorly used in the production of plastic and rubber as they provide excellent gelling, lubricating, and anti-cracking properties. Moreover, stearates also reduce the extruder pressure required while compounding polyolefins and PVC.
Robust growth in the textile industry is creating demand for stearates. This is expected to serve major growth opportunities in the near future. Growing demand for clothes and apparel due to the increasing disposable income of the consumer is again propelling the market growth. Also, growing demand for stearic acid from the metal processing industry where it is used in the polishing of metal in order to prevent it from rust &corrosion on metal components is expected to foster the market growth.
High exposure to stearic acid may lead to various health issues such as liver toxicity, human & animal skin disease, and cancer is restricting product adoption across consumers. This is expected to hamper the market growth over the forecast period. For example use of stearic acid in personal care products may lead to skin related problems such as rashes.
On the basis of product type, monounsaturated fatty acids segment dominated the global tallow fatty acids market in 2019 with around 48.00% of market share in terms of revenue, followed by saturated fatty acids, among others.
On the basis of application, others segment dominated the global tallow fatty acids market in 2019 with around 37.59% of market share in terms of revenue, followed by soaps & detergents, among others respectively.
On the basis of region, Europe dominated the global tallow fatty acids market in 2019 with around 43.35% of market share in terms of revenue, followed by North America, among other regions.
Escalating demand for plastic from the construction industry is propelling demand for plastic. Tallow fatty acids are widely used in the production of the construction industry. Increasing population is creating a need for new infrastructure this is in turn propelling the market growth of the construction industry. Increasing adoption of the high-performance and durable plastics across the construction industry is again contributing to market growth.
Increasing use of stearic acid in the production of plasticizer alcohols is one of the growing trends in the market. Also, increasing demand for the fatty acids from high-performance paints &coatings is again anticipated to foster the demand for stearic acid which in turn is augmenting the market growth of tallow fatty acids. Moreover, key manufacturers are focusing on increasing the production capacity of the fatty acids to cater to rising demand across various end-user industries is further anticipated to foster the market growth of tallow fatty acids over the forecast period.
Global Infant Formula Market - Impact of Coronavirus (Covid-19) Pandemic
Coronavirus (Covid-19) has majorly impacted the tallow fatty acids industry and has in turn changed the dynamics of their raw material suppliers supplying these products. However, rising demand for tallow fatty acids owing to rising disposable income and increasing population is expected to stabilize the growth of the market and reach US$ 2,772.1 Mn by the end of 2021.
Few Recent Developments: