Key Market Insights
“Growing adoption of linseed products among cardiac patients supports the growth of the market”
The linseed oil market is expected to grow at a CAGR of 3.2% during the forecast period from 2023 to 2030, starting from US$ 840.43 Mn in 2021. The popularity of flaxseed is increasing due to its properties such as low saturated fat food constituents that aim to prevent and helps in the treatment of cardiovascular diseases. Thereby, patients having any kind of cardiovascular problems demands linseed or flaxseed-based products. Moreover, linseed oil helps in lowering cholesterol levels. The aforesaid reasons are the key actor for the growth linseed oil market during the forecast period.
Linseed is one of the best sources of omega-3 fatty acids that is vital for a person’s physical and mental health. Moreover, the trends of non-GMO linseed oil is increasing and manufacturers are launching new non-GMO linseed oil and thereby, fulfill the rising demand of consumers globally. For instance, recently, ADM launched fully refined non-GMO linseed oil. The oil can be used in a variety of products from supplements to pasta sauces. Thereby, increasing the demand for the market globally.
Application Analysis
“Paints and varnishes dominates the linseed oil market in the year 2021”
Paints and varnishes are another huge territories of use that linseed oil adds to broadly. Customarily, the dominant part of linseed oil was utilized in paints, coatings, varnishes, and scarcely any other modern applications. Varnishes and paints produced using this item are as yet thought to be excellent premium class items and were the toughest. The item finds particular use as diluents in paints and coatings. The item's uses reach out to its side-effects got from flaxseed oil dinners that stay after oil extraction and are valuable in creature takes care of.
The rising interest in mechanical improvement as to preparing flaxseed for the extraction of oil is relied upon to drive the market over the figure time frame. Flaxseed oil contains alpha-linolenic corrosive (ALA) and basic unsaturated fat that is invaluable for coronary illness patients.
Linseed oil coatings and paints are porous. This gives it the property of not letting the wood under the applied paint from rotting concealed and influencing the nature of the paint in negative ways. Most linseed oil hues are safe to terrible impacts of climate. Linseed oil has a little sub-atomic size henceforth it is effectively vulnerable to applied surfaces. Linseed oil, in contrast with different hues, gives the most ideal bond. A one of a kind element of the bond is that the item expands its mass thickness after its application and consequently forestalls wood surface from water entering it. This keeps the wood from spoiling. Besides, the applied surface is doubly shielded from the sun's bright beams by the paint's own pigmentation.
Regional Analysis
“Asia Pacific is projected to grow at a considerable rate during the forecast period”
The Asia Pacific was the main provincial section and represented around 33% of the complete income in 2021. Expanding requests from China because of countless makers right now anticipated to move the local section over the conjecture time frame. As far as development spending, the most elevated development is probably going to be focused on the rising economies of Asia Pacific including China, trailed by India and Indonesia.
Developing interest for wooden insides right now foreseen to expand the territorial fragment. Expanding speculation for the creation of linseed oil in China is relied upon to observe powerful development attributable to expanding interest for the item from different nations through imports and fares.
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Key Industry Developments:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Linseed Oil market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
