Industry Outlook and Trend Analysis
The global Flaxseed Oil Market was worth USD 0.65 billion in 2014 and is expected to reach approximately USD 0.84 billion by 2023, while registering itself at a compound annual growth rate CAGR of 2.87% during the forecast period.
Rising demand from paints and coatings industry as a varnish and as a drying lubricant is foreseen to support the market over the gauge period. Flaxseed oil’s polymer-shaping property to polymerize into solid, which is to a great extent made use of for mixing with different solvents and gums as impregnator and tile in paints and coatings division is anticipated to boost the market development. It is additionally used as a part of manufacturing procedure of different oils having properties like tempering, bonding, catalysed curing, and grinding.
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Application Outlook and Trend Analysis
Paints and varnishes was the prevailing application section in 2016 and is foreseen to grow tremendously in the following years. Paints and varnishes are generally used as a part of wood completing as coatings because of their properties. Expanding usage of flaxseed oil in wood finish, food processing, nutritional supplement, putty, paint, gilding, and linoleum are anticipated to support the section growth. It is used as a bearer in oil paints for making them transparent, glossy, and enhancing their consistency. It is likewise used as a part of linoleum, soaps, and inks.
Regional Outlook and Trend Analysis
Asia Pacific was the dominating regional section and represented around 33% of the aggregate income in 2016. Expanding request from China because of large number of manufacturers in this nation is anticipated to impel the regional section over the estimate time frame. Based on construction spending, the most astounding development is foreseen to be focused in the rising economies of Asia Pacific including China, trailed by India and Indonesia.
Competitive Insights
The leading players in the market are Gustav Heess, Henry Lamotte Oils GmbH, Natural Factors Inc, Krishi Oils Limited, Natrol LLC, Cargill Foods India and Archer Daniels Midland. The leading organizations are increasingly investing in joint ventures, acquisitions, and mergers to widen their product offerings, expand their presence globally, and gain a lucrative market share. For example, in August 2017, ADM Company widened its plant-based extraction production line to add antioxidants, acerola, green tea, and tropical fruit blends, which are a rich source of Vitamin C and nutritional ingredients.
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The Flaxseed Oil Market is segmented as follows-
By Application:
Flooring
Processed food
Cosmetics
Pharmaceuticals
Paints and varnishes
Others
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
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