CTO Derivative Market's Eco-Friendly Appeal Drives Robust 4.4% CAGR, Expected to Reach $2.5 Billion by 2028

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Nov 10, 2023, 14:15 ET

DUBLIN, Nov. 10, 2023 /PRNewswire/ -- The "Crude Tall Oil Derivative Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global Crude Tall Oil (CTO) Derivative market, which achieved a valuation of US$ 2.0 Billion in 2022, is poised for further growth in the coming years. Analysts project the market to reach US$ 2.5 Billion by 2028, reflecting a robust Compound Annual Growth Rate (CAGR) of 4.4% during the period from 2023 to 2028.

CTO Derivative: A Versatile Biomaterial

Crude Tall Oil (CTO) derivative is a commercially valuable biomaterial produced as a by-product of the pulp and paper industry. It is derived through the kraft procedure of fatty and resin acids, unsaponifiable and neutral compounds sourced from wood extractives and softwoods.

CTO derivative finds extensive applications in various industries, including metalworking, mining, oilfield operations, fuel additives, surfactants, coating and inks, rubber, and more. It is commercially available in multiple variants, including Tall Oil Rosin (TOR), Tall Oil Fatty Acids (TOFA), Tall Oil Pitch (TOP), and Distilled Tall Oil (DTO).

Key Drivers of CTO Derivative Market Growth

Several factors are contributing to the growth of the CTO Derivative market:

Rising Demand for Value-Added Bio-Based Products: Manufacturers are increasingly adopting CTO derivatives due to the growing need for value-added bio-based products. These derivatives offer various beneficial properties, such as renewable sourcing, lower carbon footprint, non-genetically modified organisms (Non-GMOs), oxidative stability, excellent air drying characteristics, and negligible aromatic compounds.
Sustainable Green Approaches: Governments worldwide are implementing sustainable green approaches to address environmental concerns, encouraging the use of CTO derivatives as an eco-friendly fuel additive in diesel and petrol.
Agricultural Sector Growth: The agricultural sector's expansion and the demand for high-quality crops are boosting the adoption of TOFA in pesticides, enhancing crop production.
Versatile Usage: CTO derivatives are widely used in alkyd resins, metallic stabilizers, textile chemicals, metalworking fluids, inks, adhesives, and papers, contributing to market growth.
Recycling and Collaborations: The adoption of various product recycling strategies and strategic collaborations among key players are fostering market growth.

Key Market Segmentation

The report provides an in-depth breakdown of the global CTO Derivative market:

Breakup by Fraction:

Tall Oil Fatty Acid
Distilled Tall Oil
Tall Oil Rosin
Tall Oil Pitch
Others

Breakup by Application:

Fuel and Fuel Additives
Surfactant
Mining and Oilfield Chemicals
Coating and Inks
Rubber
Others

Breakup by End User:

Automotive
Construction
Speciality Chemicals and Petrochemicals
Oil and Gas
Others

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

Competitive Landscape

Key players in the CTO Derivative market include Forchem Oyj (Respol Resinas S.A.), Ingevity Corporation, Kraton Corporation (DL Chemical Co. Ltd.), Les Derives Resiniques Et Terpeniques (Firmenich International SA), Mercer International Inc., Neste Oyj, Pine Chemical Group Oy, Segezha Group, Silver Fern Chemical Inc., SunPine AB, and Univar Solutions Inc. These industry leaders are at the forefront of innovation and technological advancements in the CTO Derivative industry.

Key Questions Answered in This Report

The report addresses critical questions about the global Crude Tall Oil (CTO) Derivative market:

What was the size of the global CTO Derivative market in 2022?
What is the expected growth rate of the global CTO Derivative market during 2023-2028?
What are the key factors driving the global CTO Derivative market?
What has been the impact of COVID-19 on the global CTO Derivative market?
How is the market segmented based on fraction, application, end user, and region?
Who are the major players in the global CTO Derivative market?
What is the competitive landscape and the degree of competition in the industry?

For more information about this report visit https://www.researchandmarkets.com/r/c8uqv0

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