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The exponential use of fossil fuel altered the environment prospects causing serious threats such as rising sea level, global warming, and immense carbon emission. United Nations Environment Programme (UNEP) launched several projects to mitigate severe threats to the habitat. The implementation of strict policies and the promotion of renewable fuels is necessary to protect the sovereignty of the environment. Biofuels are emerging as an efficient alternative to traditional fossil fuels. Crude tall oil is a side product from chemical pulping of pine and other wood species, mostly coniferous trees. Tall oil fractionation yields many valuable products, such as TOR (tall oil rosin), TOFA (tall oil fatty acids), heads, DTO (distilled tall oil) and TOP (tall oil pitch). The carbon footprint of CTO derivatives is up to 90% lower than that of comparable fossil alternative products. Therefore, the growing concern over massive carbon emission and the increasing uptake of environment-friendly fuels to brighten the market prospects.
The global crude tall oil market is segmented into product, application, and end-user. The product segment is classified into tall oil rosin (TOR), tall oil fatty acids (TOFA), distilled tall oil (DTO), tall oil pitch (TOP), and others. TOFA and DTO are mainly consumed in various detergents and soaps. TOR is used for paper coating chemicals and also for inks and adhesives. Crude tall oil is utilized in various applications such as adhesives, inks & toners, paintings & coatings, hygiene products, and others. Based on the end-user, the market is segmented into automotive, chemicals, metalworking, electronics & electricals, and others. Chemicals are projected to dominate the crude tall oil market owing to the increased use of bio-based fuels.
The ever-growing need for renewable fuels has increased interest in using tall oil as a raw material in various applications. Moreover, strong supporting policies across the world to promote biofuels are likely to drive the growth of the crude tall oil market. Biofuel is an alternative to fossil fuel, and the combustion of biofuels does not pose any risk to the environment which set to drive the market.
Crude tall oil requires several distillation processes to make it useful in various applications, which is quite complicated and time-consuming. Also, lack of awareness and number of alternative biofuels present in the market to impede the growth.
Key Market Driver -
Rising uptake of biofuels to thwart carbon emission
Key Market Restraint -
Lack of awareness and increase in availability other substitutes
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The global crude tall oil market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is projected to account for considerable growth. In the southeastern United States, where extractive content of the wood is much higher, tall oil plants fractionate the tall crude oil into value-added components. Furthermore, Canada is implementing a pilot project to crude tall oil in several applications as a fuel which likely to bright the market in North America.
Europe is experiencing rapid growth owing to the rise in uptake of biofuels to mitigate the serious threats to the environment. Sweden and Finland set a major goal to achieve net-zero carbon emission by 2050 by embracing clean energy technology. In addition, many countries are pushing aggressive policies to promote environmentally friendly fuels. Therefore, strong supporting policies and raising awareness about biofuels to bolster the market in Europe. Asia Pacific is a major consumer of energy in the world on account of the presence of emerging economies such as India and China. Both countries are discovering new technologies to meet the rising demand for energy set to boost the crude tall oil market.
Latin America and Middle East & Africa exhibiting slight growth owing to a lack of investment in biofuels. However, Brazil & Argentina are aiming to embrace renewable and bio-based fuels to reduce carbon emission, which makes a positive impact on market prospects.
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