Augmenting demand from the paint industry, increasing use of linseed oil to treat obesity and improving heart health, and mounting evidence of linseed oil’s efficacy in shrinking tumors are the major factors stimulating the market growth.
Market Size – 821.43 million in 2020, Market Growth – CAGR of 3.35%, Market Trends – Escalating evidence and consciousness about the anti-carcinogenic properties of linseed oil
The global Linseed Oil Market is expected to reach USD 1,036.56 Million by 2028 at a CAGR of 3.35%, according to a new report by Reports and Data. The exponential growth of the industry can be accredited to the augmenting requirement for linseed oil from the paints & varnishes, leather, and lubricants industry. The low toxicity and eco-friendly attribute of linseed oil and the enhancement durability of oil paints by the addition of linseed oil has augmented its adoption in the paint and varnishing sector. Moreover, the augmenting publicity about the health benefits of linseed oil and the robust effect of linseed oil on obesity and heart conditions is foreseen to boost its demand in the estimated timeframe.
Linseed oil is an extremely potent source of lignans, a polyphenol compound primarily found in plants. Lignan acts as phytoestrogens, a plant-derivative nutrient that has anti-cancer properties and has been proven to reduce the risk of breast and prostate cancer. The alpha-linolenic acid found in linseed, which is the precursor of essential omega-3 fatty acids, also has the potential to halt the progression of cancer cells, which is boosting its adoption in the pharmaceutical industry. Additionally, other health advantages such as improvement in cardiac health, treating constipation and diarrhea, and enhancement of skin health are also adding traction to the demand for linseed oil, thereby adding to the expansion of the industry.
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However, the possible side effects of consumption or exposure to linseed oil such as eye and skin irritation can restrain the market growth. The topical side effects of linseed oil can potentially limit its usage in child care products, thereby limiting the market growth to a certain extent. Moreover, linseed oil has a longer drying time which can be unfeasible in certain situations such as varnishing of handles or wood floors. This has led to the development of synthetic paints and alkyd resins leading to a decreased demand for linseed oil, thereby restricting the market growth.
Prominent companies in the market include Krishi Oils Limited, Bioriginal Food and Science Corp., Henry Lamotte Oils GmbH, Archer Daniels Midland (ADM) Company, Welch, Natrol LLC, Cargill, Inc., AOS Product Private Limited, and Gustav Heess Gmbh, among others.
Key Highlights from the Report:
- Organic linseed oil can soften, nourish, and moisturize the skin owing to its anti-inflammatory, anti-aging, and regenerative attributes. The shifting preference of consumers towards organic and safe cosmetics and personal care items has boosted the adoption of organic linseed oils in the cosmetics and healthcare industry. The organic segment is projected to observe a significant growth in the projected timeframe.
- Paints equipped with raw linseed oil have a higher rate of penetration on wood surfaces and offer enhanced durability compared to traditional paints. Since the composition of raw linseed oil is completely natural, it does not generate any toxic end-product during decomposition. These attributes of raw linseed oil are foreseen to add traction to the segment’s growth in the estimated timeframe.
- The augmenting demand for non-toxic and eco-friendly components to be added to paints and varnishes to confer longer durability and safety is projected to bolster the growth of the paints & varnishes segment. Additionally, the rapid progress of the automotive sector and the increasing need for lustrous and robust paint coatings for vehicles are estimated to propel the segment’s growth further.
- The Asia Pacific is foreseen to be the rapidly emerging market for linseed oil in the projected timeline, registering a CAGR of 4.2%. The accelerated progress of numerous end-user verticals, augmenting need for organic cosmetics, escalating awareness about the health advantages of linseed oil, and the expanding R&D activities to extend the application scope of linseed oil are estimated to support the market growth in the APAC region.
For the purpose of this report, Reports and Data has segmented the global Linseed Oil Market based on Nature, Product Type, Application, and Region:
Nature Outlook (Revenue, USD Million; Volume, Thousand Tons; 2018-2028)
Product Type Outlook (Revenue, USD Million; Volume, Thousand Tons; 2018-2028)
- Raw Linseed Oil
- Boiled Linseed Oil
- Double-boiled Linseed Oil
Application Outlook (Revenue, USD Million; Volume, Thousand Tons; 2018-2028)
- Processed Foods
- Paints and Varnishes
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Regional Outlook (Revenue, USD Million; Volume, Thousand Tons; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table of content:
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Research scope and assumptions
1.3 List of data sources
Chapter 2 Executive Summary
2.1 Linseed oil – Industry snapshot, 2021
Chapter 3 Linseed Oil Market Variables, Trends and Scope
3.1 Market segmentation and scope
3.2 Market size and growth prospects, 2018 – 2028 (Thousand tons) (USD million)
3.3 Linseed oil market value chain analysis
3.4 Market dynamics
3.4.1 Market driver analysis
22.214.171.124 Increasing awareness regarding health benefits of linseed oil
126.96.36.199 Aging population
Chapter 4 Linseed Oil Market: Application Estimates and Trend Analysis
4.1 Linseed oil market: Application movement analysis, 2021 & 2028
4.2 Paints & varnish
4.2.1 Market estimates and forecasts, in paints & varnish, 2018 – 2028 (Thousand tons) (USD million)
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