ALBANY, N.Y.--(BUSINESS WIRE)--According to the latest market research report released by Transparency Market Research, the global tallow fatty acids market is expected to grow at CAGR of 2.3% from 2014 to 2020. The report, titled “Tallow Fatty Acids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, estimates the value of the market to reach US$2.74 billion by 2020.
The report cites the increasing demand for tallow fatty acids in soaps and detergents and the rubber and plastic industries to propel the market during the forecast period. However, feedstock shift from tallow to vegetable oils is expected to hamper the growth of the overall market to an extent. The report analyses the pricing of vegetable oil and tallow along with their production. The tallow fatty acids market has a huge potential to grow with rising demand from personal care, textiles, and pharmaceuticals industries.
On the basis of the products, global tallow fatty acids market has been segmented into saturated fatty acids, monounsaturated fatty acids, and polyunsaturated fatty acids. Due to the extensive usage of monounsaturated fatty acids in cosmetics, and soaps and detergent industries, it became the largest product segment of the global tallow fatty acids market in 2013 and accounted for 45% of the market. According to the end users types, the market has been segmented into rubber, soaps and detergents, plastics, personal care products, and others. Soaps and detergents has been the dominant end-user segment.
The report studies the growth of the tallow fatty acids market in Europe, North America, China, Rest of Asia Pacific, Latin America, and Rest of the World. Asia Pacific and South America will contribute significantly to the market growth.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.