Linseed oils are extensively used in the manufacturing of various products including putty, paints, gliding, wood finish, floorings, nutritional supplement, linoleum, and food processing. The high demand for these oils across various end-user industries can be attributed to their high bonding, polymerizing, and layer formation capabilities. Linseed oil in combination with different types of resins and solvents is used in creating linoleum, impregnators, and varnish for various industrial applications.
Global Linseed Oil Market: Regional Segmentation
On the basis of geography, the key segments scrutinized in the report are Asia Pacific, Europe, North America, and Rest of the World. The North America market for linseed oils is expected to experience healthy growth during the forecast period owing to the increasing demand for wooden products in the U.S. and Canada. Europe will also witness significant growth during the same period, with the U.K., Germany, and France being the major revenue contributors.
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Asia Pacific is poised to emerge as a lucrative market over the forecast horizon. The growth of the region will be supplemented by the flourishing growth of the various end-user industries including paint and food processing industries. The rapidly growing population in emerging economies such as India and China is also propelling the growth of the region.
Global Linseed Oil Market: Drivers and Restraints
The increasing application of linseed oils in various applications such as coating industry and paint application is the foremost factor driving the global market. The increasing awareness about the medical benefits of these oils is boosting its adoption in manufacturing nutritional supplements. Various studies suggest that these oils are helpful in reducing the risk of cancer and cardiovascular diseases. The oil produced through cold pressing method is safe for human as well as animal condition.
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Despite the various benefits offered by linseed oils, the eye or skin irritation caused due to their contact is estimated to hamper their adoption in childcare products. Furthermore, linoleum is being largely replaced by PVC, which is adversely affecting the growth of the global linseed oils market. Nevertheless, the manufacturers in the market will be able to see light at the end of the tunnel as PVC is being increasingly banned due to its hazardous impacts on the environment.