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Tall Oil Fatty Acid (TOFA) Market Overview
Tall Oil Fatty Acid (TOFA) Market Size was valued at USD 3.10 billion in 2023. The Tall Oil Fatty Acid (TOFA) industry is projected to grow from USD 3.30 billion in 2024 to USD 5.46 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2024 - 2032). Tall oil fatty acid is formed under a specific temperature with the reaction of esters and carboxylic acids. In general, the tall oil fatty acid is known as a crude tall oil product that is a major substitute for fatty acid plant oil. Basically, TOFA consists of three components like resin acid, fatty acids, and unsaponifiable matters. In the oil and gas industry, the TOFA acts as a viscosity modifier, lubricant, and corrosion inhibitor. Further, the TOFA has a low carbon footprint, which makes it act as a substitute for vegetable oil.
The global Tall Oil Fatty Acid (TOFA) Market is segmented on the basis of application, product type, and end-use industry. Further, the application segment has been classified into ester solvents, asphalt emulsions, lubricants, fuel additives, oilfield chemicals, rubbers and tires, liquid cleaners and soaps, resins, and others. Based on the product type, the global market is segmented into linoleic acid, oleic acid, and others. The end-use industry is classified into oil & gas, construction, paints & coatings, textile, and others.
As per the global Tall Oil Fatty Acid (TOFA) Market report, the regional market has been divided into Europe, Asia-Pacific, North America, the Middle East & Africa, Latin America, and others. Here, the Asia Pacific region is dominating the worldwide market during the forecast period.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Key Players
PineChemical Group Oy (Finland), Forchem Oyj (Finland), Kraton Corporation(US), Univar Solutions (US), Ilim Group JSC (Russia), DRT (Derives Resiniques ET Terpeniqes) (UK), Harima Chemicals, Inc (Japan), Eastman Chemical Company (US), OOO Torgoviy Dom Lesokhimik (Russia), Lascaray S.A. (Spain), Georgia-Pacific Chemicals LLC (US), and Industrial Oleochemical Products (South Africa) are some of the key players operating in the global market.
Tall Oil Fatty Acid (TOFA) Market Share, by End-Use Industry, 2019 (%) 
Source: MRFR Analysis
Regional Analysis
The Asia-Pacific market is expected to the fastest growing market by 2030 due to an increase in construction activities in the South-East Asian countries such as Thailand, Vietnam, Indonesia, and Malaysia. The growing construction equipment market in the region is expected to further boost the growth of the market for tall oil fatty acid due to its growing demand as lubricants and metalworking fluids.
The North American market is also expected to be the leading market owing to the growth of the oil and gas industry across the globe coupled with increasing mining activities, particularly in Canada.
The European market is expected to witness moderate growth during the forecast period owing to the growth in the construction industry by 1.4% according to the European Commission by 2021.
The Middle East & African market is expected to grow significantly due to the increase in construction activities across the region. The GCC countries has proposed an investment of US$ 2,700 billion by 2030, which is expected to boost the growth of the regional market.
Segmentation
The global construction lubricants market has been segmented based on product type, application, end-use industry, and region.
By product type, the global market has been classified into oleic acid, linoleic acid, and others.
Based on application, the global market has been divided into asphalt emulsions, ester solvents, fuel additives, lubricants, rubbers and tires, oilfield chemicals, resins, liquid cleaners and soaps, and others.
On the basis of end-use industry, the global market has been segregated into construction, oil & gas, textile, paints & coatings, and others.
The global market, by region, has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.Recent Development
In September 2021
A merger agreement has been signed between the leading manufacturer of high-value polymers, namely, Kraton Corporation and DL Chemical. This agreement has mentioned that 100% of Kraton will be acquired by DL Chemical in an all-cash deal by indicating USD2.5bn enterprise value.
In June 2023, Kraton Corporation announced that it had signed a definitive agreement to acquire Lascaray S.A., a leading producer of TOFA. The acquisition is expected to strengthen Kraton's position in the TOFA market and expand its product portfolio.
Intended Audience
- Tall oil fatty acid producers
- Crude tall oil producers
- Traders and distributors of TOFA
- Potential investors
- Raw material suppliers
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