CRUDE TALL OIL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Crude Tall Oil Market, By Distillation Process (Tall Oil Fatty Acids (tofa), Tall Oil Heads, Distilled Tall Oil, Tall Oil Rosin, Tall Oil Pitch), By Application (Painting And Coatings, Inks & Toners, Adhesives, Vehicle Tires, Hygiene Commodities, Substitutes For Antibiotics, Mining, Chewing Gums, Electronics, Papermaking), By End User (Metalworking, Building & Construction, Chemical, Electronics & Electricals, Mining Industry, Personal Care & Cosmetics, Automobile), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

Recent Developments:

New product launches:

September 2022, Neste launched a strategic study on transitioning its Porvoo refinery to a renewable and circular site and ending crude oil refining in the mid-2030s. Through co-processing and retrofitting of units, and benefiting from available refining assets, experience, and know-how, Neste targets to significantly grow its renewables and circular production in Porvoo long term. Neste is a Finnish company that produces and sells renewable diesel, renewable jet fuel, and other renewable products.

Acquisition and partnerships:

November 2022: Neste agreed to acquire the used cooking oil (UCO) collection and aggregation business and related assets in the U.S. from Crimson Renewable Energy Holdings, LLC. Crimson Renewable Energy Holdings, LLC is a prominent company in the renewable energy industry, particularly known for being the largest producer of ultra-low carbon biodiesel on the West Coast. The company operates the largest biodiesel production facility in California, creating ultra-low carbon biodiesel to refuel communities and distributing it to the wholesale diesel fuel market throughout the Western United States. This acquisition further strengthens Neste's presence and operations in the U.S.