Global Linseed Oil Market Overview:
Derived from dried flax seeds, by the process of pressing and solvent extraction, this colourless to pale yellow oil is a versatile product that can be used for the manufacturing of paints, putty, wood finishes, nutritional supplements, food processing and flooring. Rich in nutrition and fibre content along with important vitamins and essential fatty acids, the linseed oil is a warehouse of health. Even the flax seed itself is gaining popularity for its benefits of weight loss, healthy hair, healthy skin etc. The growing awareness is boosting the flax seed-linseed market at a healthy ratio. The pharmaceutical market has especially taken to the linseed oil and has become an important ingredient for a lot of medication and supplements. This is a recent development and is hoped the industry gets a boost owing to it.
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Global Linseed Oil Market Size Analysis:
The global linseed oil market was valued at $XX million in 2013 and is expected to grow at a CAGR of XX% over the next five years to reach $XX million by 2025. Geographically, the linseed oil is of huge demand in Asia Pacific, where it’s a cooking element in most houses. It generates maximum revenue and is expected to increase at a CAGR of XX%. The US and Canada are huge markets in terms of wood and varnish industries, where the oil is used for drying extensively. Paints and Varnishes were the dominant segments using the linseed oil generating a revenue of $XX million in 2013. Growing number of manufacturers and vendors are helping the product reach masses more conveniently. Some of the big players of this oil are Gustav Heess, Henry Lamotte, Krishi Oils Limited, Cargill Inc., Natrol etc. R&D and mergers and acquisitions by multiple companies like Archer Daniels Midland, Cargill etc to increase the product portfolio and maintain a healthy customer database.
Global Linseed Oil Market Drivers and Restraints:
Heavy investments are occurring in the plant facilities to produce flax seeds. Recent research indicates its benefits in being a cancer fighter and heart health booster, which has further boosted the market substantially. Today, the oil is not just a form of nutrition and used in constructions, but its usage has expanded to automotive and cosmetic markets as well with the cosmetics segment where the oil is used for its anti-inflammatory and moisturizing properties. Of course, a lot of alternative substitutes have entered the market like the synthetic alkyd resin. But, with concerns of originality peaking, firms are attempting hard to keep the piracy out of general public hands by raising awareness. Growing health concerns, rapid urbanization, rising disposable incomes are all reasons for its ongoing global growth.
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