Linseed Oil – Give Yourself an Oil Change and a Tune-up
The Linseed Oil market is expected to grow at a compound annual growth rate of 3.22% to reach a market size worth US$931.227 million by 2027. This market was valued at US$745.770 million in 2020. Linseed oil is a vital oil extracted from flaxseeds that are best suited for a variety of uses in industries such as medicines, cosmetics, food and beverage, flooring, paint and varnishes, and others. Linseed oil has the unusual property of polymerizing into solid form and acting as a good impregnator when combined with solvents or resins. Linseed oil revenues have soared as the food and beverage industry expands its nutritional offerings. Because of its ability to function as a natural laxative, linseed oil is in high demand. It helps to control cancer and heart disease. Furthermore, linseed oil has seen a major increase in demand as customers become more interested in eating a healthy diet.
Analysts anticipate that the market will grow due to the increased application of linseed oil across different industry verticals during the forecast period.
Because of its growing use in flooring, nutritional supplements, putty, paints, glides, wood finish, linoleum, and food processing, the linseed oil market is expected to find profitable opportunities throughout the forecasted period. The high bonding, polymerizing, and layer-forming properties of these oils account for their increased demand in many end-user sectors. Linseed oil is also widely used as a source of a-Linolenic acid in nutritional supplements. It is traditionally served with potatoes and quark in Europe and is considered a delicacy for its substantial flavor and ability to enhance the bland flavor of quark. Linseed oil is also used to make other oils with special qualities including grinding, bonding, tempering, and catalyzed curing. Furthermore, its polymer-forming property, which is widely used in the paints & coatings sector for blending with various solvents and resins as impregnators and linoleum, is expected to drive market growth.
Furthermore, increased R&D and product innovation investments by key industry players are anticipated to improve market competitiveness. For example, Vandeputte Oleochemicals completed the world's largest linseed oil factory, ASVA, in the Rostov region in April 2021. ASTON (Russia) and Vandeputte Oleochemicals collaborated on this plant. With a manufacturing capacity of roughly 450 tons per day, it concentrates on technological processing for double pressing linseed oil extraction, allowing the company to meet a larger global demand.
Croda International Plc. also built a crop care product validation center in Brazil in September 2021 to facilitate product development and boost its position in the agrochemical sector. Because of its applications in crop production, this strategic development will assist improve the linseed oil market.
The harmful nature and availability of alternatives to linseed oil can act as a constraint for market growth at a global level.
Linseed oil is flammable and harmful in nature. Furthermore, it causes eye and skin irritation when in touch, which may limit its use in childcare items. Moreover, PVC is increasingly replacing linoleum, limiting the expansion of the worldwide linseed oils market. Furthermore, the oil is typically a slow-drying liquid. Linseed oil can be used to preserve wood, however, the prolonged drying period makes it unsuitable for items that are handled or walked on, such as furniture or decks. Alkyd resins have replaced linseed in many applications due to the availability of synthetic paints that dry quickly and provide better surface protection, as well as their inexpensive cost. Additionally, fluctuating prices of flaxseed, a crucial raw material used in the manufacturing of linseed oil, may have an impact on the linseed oil market's price trend.
By application, the cosmetics and beauty segment are anticipated to witness a significant market share during the forecast period.
Linseed oil is becoming an efficient solution for alpha-linolenic acid and vitamin E, two components that are lacking in synthetic products, as customers increasingly turn to organic cosmetics. As a result of its anti-inflammatory, wound-healing, and regenerative characteristics, the cosmetic industry has embraced linseed oil. The market's expansion is projected to be fueled by the increasing reliance on these items to drive market growth. Shampoos, moisturizers, and facemasks all include linseed oil. African Pride's Moisture Miracle Collection is one such example. Shea Butter & Linseed Oil Moisturize & Define Curling Cream was one of the products in this series. Furthermore, Oriflame, a Swedish brand, has an Age Reviving Anti-Aging product line that includes linseed oil. Day cream, night cream, serum, and SPF are among the products offered.
According to regional analysis, the linseed oil market in the Asia Pacific is expected to hold a significant share during the projected period.
Linseed oil has been utilized in Asia Pacific cuisine for generations. The high production of flaxseed in China, India, and Australia, as well as the strong presence of linseed oil producers and suppliers in the region, are driving the expansion of the Asia Pacific linseed oil market. Growing awareness of linseed oil's health advantages in the pharmaceutical and food industries is expected to have a beneficial impact on regional market statistics over the forecast period. Rising industrialization and urbanization tendencies in emerging countries such as China, Indonesia, and India have resulted in a surge in construction activity, driving up demand for linseed oil for use in painting, flooring, and varnishing. Growing demand for paints and varnishes is driving up linseed oil market predictions in Asian countries due to rising construction investment in residential buildings due to rising population. Furthermore, increasing infrastructure development has resulted in huge demand for wood items, which is projected to boost market demand in the Asia Pacific.
The impact of the covid-19 pandemic prompted the authorities worldwide to implement containment measures in order to halt the virus's cycle. Several economic operations came to a halt as a result, discouraging market expansion and progress. Most businesses, with the exception of medical supplies and life support items, have been severely damaged, including the Linseed Oil Industry.
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