The Global Linseed Oil Market is estimated to grow at a CAGR of 2.7% during the forecast period 2018-2026. As per the analysis, the global market was valued at $924.6 million in the year 2018 and expected to reach $1,141.8 million by the end of the year 2026.
Linseed oil is available yellow or colourless liquid which is obtained from both ripened or dried flax seeds. Linseed oil is also known as flaxseed oil and produced by pressing solvent extraction process. Also, the linseed oil polymerizes in solid form and used by blending with various solvents or resins. Linseed oil have major applications including pharmaceuticals, cosmetics and food industries. The demand of linseed oil is growing above the average rate if compared to other edible oils that are available in the market. The wide applications of linseed oil and increasing demand of a range of various end-use products such as flooring, pharmaceuticals, organic packaging, varnishes, paints and coatings etc. is also contributing towards market growth over the forecast period.
Linseed oil also used in manufacturing of various products such as food processing, linoleum, national supplement, floorings, wood finish, gliding, paints and putty. The oil is used along with various types of solvents and resins for various industrial forays. The medical benefits of linseed oil boost the adoption of oil in manufacture of nutritional supplements. Some major research studies show that the linseed oil helps in reducing risk of cardiovascular diseases and cancer.
Segmentation Overview of the Global Linseed Market
The Global Linseed Market is primarily segmented on the basis of application type. The segment was further categorized into various sub-segments to study the market in detail.
The Application Type Segment of the Global Linseed Market is Sub-Segmented into:
- Paints and Varnishes
- Processed Food
Regional Overview of the Global Linseed Oil Market
Region wise, the global linseed oil market is analysed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Turkey, and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, ASEAN and rest of Asia-pacific), and LAMEA (Latin America, the Middle East, and Africa). As per the analysis, Asia Pacific accounted as the largest market in the global linseed oil market owing to large-scale consumption of linseed oil in the region and burgeoning population in some APAC regions. In detail, China registered maximum flaxseeds crushing yearly and analysed to be a leader considering product consumption. Also, growth of paints and coatings industry in the region act as a major growth driving factor in the region.
Key Players Insights
Gustav Heess GmbH and granovita, Henry LaMotte Oils GmbH, Krishi Oils Limited (KOL), Cargill, Inc., Archer Daniels Midland (ADM) Company, Natrol LLC, Natural factors Inc. and Barkeans Bioriginal Food and Science Corp. are some major players included in the research study of the global linseed oil market compiled by Report Ocean. Companies are majorly adopting competitive strategies to withhold the major market share. Some of the strategical developments are product launches, joint ventures, collaborations, partnerships and others. Mergers and Acquisitions is majorly adopted strategy by key players in the global market.