Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Linseed Oil Market - which is forecasted from 2020 to 2027”.
The prime growth factors attributing to the growth in the projected period are the increasing use of linseed oil in the painting and coatings sector. Additionally, the rising acceptance of linseed oil in automobiles and buildings are also expected to serve as a growth factor for the market. The growing health consciousness of linseed is propelling its use in the nutraceutical industry.
As per the report, Linseed Oil Market is expected to grow at a CAGR of 3.22% to reach US$931.227 million by 2027, from US$745.770 million in 2020.
Linseed oil, also called flax oil or flaxseed oil, is derived from the flax plant's dried, matured seeds. This colorless to yellow-colored oil is obtained by pressing or undergoing subsequent solvent extraction in a few instances. As a drying oil, Linseed oil possesses the ability to polymerize and solidify into a solid. Due to its excellent ability to form a polymer, Linseed oil can be used as a drying oil finish, impregnator, drying oil finish, varnish in wood finishing, or as a plasticizer and hardener in putty and as a pigment binder in oil paints. Coupled with the rising awareness of Linseed oil in cooking, and the increasing pharmaceutical research and developments and investments, the demand of Linseed market oil in the respective segments. Increasing investments in linseed production and cultivation in Canada, US and China are expected to drive the market. With the increase in the use of organic cosmetic products, linseed oil, which is rich in both Vitamin E and alpha-linolenic acid, has become as best alternative ingredient and is being used in the cosmetic industry extensively. Additionally, owing to flaxseeds’ extensive use in crackers, cereals, and energy bars, its demand is predicted to rise fast over the projection period. Furthermore, with the increased adoption of linseed oil into buildings, vehicles, paintings and coatings, the oil market is anticipated to demonstrate substantial growth.
On the basis of application, the linseed oil market is bifurcated into Processed Foods, Paints and Coatings, Cosmetics, Pharmaceuticals and others.
The enforcement of statewide lockdowns and social distancing laws amidst the pandemic in several countries has significantly influenced the worldwide economy. The increase in the infected population, closure of manufacturing facilities, and the paucity of raw materials and personnel have also impacted the market. Although, during the pandemic, greater consumer awareness of health and cleanliness and increased consumption of nutritional components will undoubtedly contribute to the market's growth.
As a part of the report, the major players operating in the Linseed Oil Market, that have been covered are Gustav Heess GmbH, Cargill, Incorporated, Archer Daniels Midland Company, AOS PRODUCTS, Livos Canada
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/linseed-oil-market
This analytics report segments the Linseed Oil market on the following basis: