The Global Crude Tall Oil Market size is expected to reach US$ 3 Bn by 2031, from US$ 1.93 Bn in 2024, growing at a CAGR of 6.5% during the forecast period.
Global Crude Tall Oil Market Trends:
Many companies are investing in new technologies and processes to extract crude tall oil on a larger scale and convert it into biofuel as well as biodegradable and renewable materials. For example, major crude tall oil producers like Forchem Oyj of Finland and WestRock Company of United States have significantly ramped up crude tall oil extraction capacity from their pulp mills in recent years to cater to the growing requirement of crude tall oil from biofuel manufacturers and environmentally-conscious chemical businesses. They are also undertaking initiatives to optimize recovery of crude tall oil from black liquor and improve refining methods to increase the sustainability and efficiency of operations.
Government policies are also playing a role in bolstering the crude tall oil industry. For example, in 2021 the European Commission added tall oil and its derivatives to its revised renewable energy directive, recognizing their potential as low-carbon substitutes for fossil fuels. This regulatory support increases the incentive for European businesses to transition existing petroleum-based processes over to tall oil-derived versions. European biodiesel producers in particular are known to rely on tall oil fatty acid methyl esters as a component. In Canada, national and provincial-level clean fuel standards similarly encourage the use of bio-based additives and blendstocks in gasoline and diesel, again creating opportunities for crude tall oil suppliers.
Crude Tall Oil Market Report Snapshots
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