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Global CTO Derivative Consumption Value Reached 1923 Million USD In 2018
Wednesday, 06 May, 2020
Crude Tall Oil (CTO) is a by-product of the kraft pulping process used by many paper mills. Tall oil soap is collected at the mills and then acidulated to make crude tall oil. It is a mixture of fatty acids, rosin and Rubber neutral materials and forms water-in-oil emulsions and stabilizes mud systems at high bottom-hole temperatures. The CTO can then be further refined through the fractionation process to separate it into the components of tall oil fatty acid, tall oil rosin, distilled tall oil, pitch and heads. 

The world consumption of CTO Derivative increased from 1403 K MT to 1618 K MT by 2018. The CAGR is about 3.64%. North America is the largest consumption area of CTO Derivative by volume in 2018 with 40% of global total consumption volume share. Europe and Asia-Pacific are the following with 34.2% and 16.2% by share.

The global consumption value of CTO Derivative reached 1923 million USD in 2018 and it was 1448 million USD in 2014. The CAGR during 2014 to 2018 is about 5.84%. 

China and Japan are the leading countries of Asia-Pacific in the CTO Derivative consumption. Korea and Southeast Asia countries are the following. They took 93.3% of Asia-Pacific total revenue in share in 2018. The market of CTO Derivative in Asia-Pacific had increased from 259 million USD in 2014 to 345 million USD by 2018. The CAGR is 5.87%.

The Europe CTO Derivative market is about 583 million USD in 2018. And it is 451 million USD in 2014. The CAGR of Europe CTO Derivative market value is about 5.24%. Among the European countries, Germany France, Russia and UK. They took 77% in share. Finland, Norway and Sweden are the important consumption regions in the rest of Europe.

The CTO derivative industry, Kraton Chemical in Europe, Forchem in Finland, refine and upgrade CTO into numerous high value added products. These include important intermediates for various chemical companies and other EU-based industries producing paints, adhesives, car tires, hygiene commodities, substitutes for antibiotics and other new innovative solutions such as products enabling reuse of old asphalt.

We predict the global market volume of CTO Derivative would reach 2084 K MT by 2029 and the global market value would be 2722 USD.