This report provides exclusive insights into the COVID-19 impact on the Linseed Oil Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Linseed Oil Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Linseed Oil Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on linseed oil market provides in-depth analysis of segments and sub-segments in global as well as regional linseed oil market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional linseed oil market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global linseed oil market. According to the report, the global linseed oil market is projected to grow at a CAGR of 3.2% over the forecast period of 2018-2024.
Linseed oil is extracted from the dried, ripened seeds of the flax plant (Linum usitatissimum). It is a colorless to yellowish oil and also known as flaxseed oil. The oil is obtained by pressing and solvent extraction. Extracted from the ripe seeds of the plant, linseed oil has been used as edible oil and for the protection and maintenance of interior and exterior wood. Linseed oil is most often used for finishing of paneling, moldings, beams, furniture, and floors.
Linseed oil can polymerize into a solid form making it a drying oil. Linseed oil is blended with combinations of various oils, resins or solvents as an impregnator, drying oil finish or varnish in wood finishing, as a pigment binder in oil paints, as a plasticizer and hardener in putty, and in the manufacture of linoleum owing to its polymer-forming properties.
The use of synthetic resins, petrochemical and acrylic paints have significantly contributed to an increase in air pollution and health problems. The rising demand for non-toxic and environmentally friendly paints and varnishes acts as the major driving factors for the growth of linseed oil market. Raw linseed oil based paints penetrate the surface, has a longer lifespan than any synthetic paint. It decomposes naturally, leaving no harmful waste residue owing to its natural ingredients. Additionally, linseed oil is a rich source of α-Linolenic acid an omega-3 fatty acid that decreases the risk of coronary heart disease. The increasing demand for nutritional culinary oils also promotes the linseed oil market. However, the prevalence of synthetic paint and alkyd resins for flooring, finishing, and painting restrains the growth of linseed oil market. Moreover, the shifting trend towards safe and eco-friendly products and healthy food habits is expected to create an opportunity for the growth of linseed oil market.
Geographically, the Asia-Pacific region dominates the linseed oil market and is expected to hold the maximum market share during the forecast period. North America also holds a significant market share in the global linseed market owing to its use in paints and varnishes and its nutritional benefits. The technological advances made in the production of linseed oil have improved its natural characteristics and promoted the use of linseed oil for domestic and industrial applications. Increased demand for nutritional products for human consumption and environmentally friendly industrial uses are expected to boost the growth of linseed oil market in Europe and the RoW.
The report on global linseed oil market covers segments such as application. On the basis of application, the global linseed oil market is categorized into pharmaceuticals, cosmetics, processed food, flooring, paints & varnishes, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer substantial potential for the growth in the linseed oil market. As a result, the APAC region is projected to experience a growth at a CAGR of x.xx % over the forecast period 2018-2024.
The report provides profiles of the companies in the global linseed oil market such as Archer Daniels Midland Company, AOS Product Private Limited, Lamotte Oils, Linolie Danmark ApS, Gustav Heess Gmbh, Welch, Holme & Clark Co., Inc., Bioriginal Food & Science Corp, Natrol, Cargill U.S., and Nature’s Way.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global linseed oil market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of linseed oil market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the linseed oil market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the linseed oil market to understand the present and future trends in this market and formulate their strategies accordingly.