Some of the prominent names operating in the global tallow fatty acids market are H Foster & Co. Ltd., AkzoNobel N.V., BASF SE, Acme-Hardesty Co., Emery Oleochemicals, VVF LLC, Vantage Specialty Chemicals, Inc., and Baerlocher GmbH.
A report by Transparency Market Research, forecasts the global tallow fatty acids market to rise at a lackluster 2.3% CAGR from 2014 to 2020. As per the report, expanding at this rate, the market will likely become worth US$2.74 bn by 2020-end from US$2.34 bn in 2013. Volume-wise, the market was worth 1,484.3 kilo tons in 2013.
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Use in Formulating Soaps and Detergents Propel Monounsaturated Fatty Acids Segment
The different types of tallow fatty acids purveyed in the market are monounsaturated fatty acids, saturated fatty acids, and polyunsaturated fatty acids. Of them, the monounsaturated fatty acids are the dominant product segment and held more than 45% share in the market in 2013. This is because monounsaturated fatty acids with C18 and C16 groups find widespread application in soaps and detergents industries as well as in cosmetics industries for the production of various cleaning and grooming products. Saturated fatty acids in which C18, C14, and C16 acid groups find application in formulating rubber, lubricants, soaps, plastics, etc. trail the monounsaturated fatty acids in terms of market share.
Geographically, the key regions in the global tallow fatty acids market are Europe, North America, China, Rest of Asia Pacific excluding China, Latin America, and the Rest of the World. North America and Europe, at present, are leading markets with tallow feedstock, which is mostly produced in these regions, being widely used in manufacture of fatty acids. Tallow fatty acids account for a comparatively lesser market share in Asia Pacific on account of the wide use of vegetable based fatty acids, namely coconut oil and palm oil.
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Asia Pacific Soaps an d Detergents Industry Fuelling Market Majorly
At the forefront of driving demand in the global market for tallow fatty acids is the fast-expanding detergents and soaps industry. As per the lead analyst of the TMR report, “Stearic acid, oleic acid, and palmitic acid are the primary fatty acid esters used to make soaps and detergents and are found in fats and oils derived from animal and vegetable sources. When sodium hydroxide reacts with tallow or animal fat, the process results in the production of soaps. The soaps and detergents market in South America and Asia Pacific is slated to rise substantially owing to the swift changes in lifestyle of people residing in the regions and increasing modernization.”
Pharmaceuticals and Personal Care Industry offer New Growth Avenues
The flourishing rubber and plastic industries too are responsible to significantly driving growth in the global market for tallow fatty acids. Emerging use of tallow fatty acids in other end-users such as pharmaceuticals and personal care products has also been opening up new avenues of growth in the market and helping it to overcome challenges such as increasing preference of vegetable based raw materials over animal based raw materials. “Growing demand and resultant sales of personal care products, particularly in countries of Brazil, India, and other Southeast Asian ones on account of rising fortunes of people and the westernized lifestyle are stoking growth in the market. Producers of personal care products use stearic acids made from tallow in different products, namely foundations, eyeliners, and face powders,” adds the analyst of the report.
This review is based on the findings of a TMR report, titled, “Tallow Fatty Acids (Product Type – Saturated, Polyunsaturated, and Monounsaturated; Applications – Soaps and Detergents, Rubber, Plastics, and Personal Care Products) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020.”
Global Tallow Fatty Acids Market, by Product
- Saturated Fatty Acids
- Stearic Acid
- Palmitic Acid
- Myristic Acid
- Monounsaturated Fatty Acids
- Polyunsaturated Fatty Acids
Global Tallow Fatty Acids Market, by Application
- Soaps & Detergents
- Personal Care Products
- Others (Including Food and Lubricants)
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