Tung Oil Market Size By Regional Analysis(Europe, Asia Pacific, America, Middle East And Africa), By Demand & COVID-19 Impact Analysis, By Type, By Applications And Forecasts 2023 - 2030 (Financial Impact Analysis)
ID : MRU_
316946 | Date :
Nov, 2021 | Pages :
164 | Region : Global |
Publisher : RI
The Market Research Update provide detailed report study and highlights market share and size, and regional changing trends, production value predication, new prospects for Tung Oil market development rate. This study report offers a current scenario of the market. The report also comprises a several market dynamics.
The Tung Oil is projected to rise moderately in the projected time frame of 2023-2030.
Pure Tung Oil is a finishing product that provides a tough, flexible and highly water-resistant coating. It is classed as a drying oil along with linseed, poppy seed, safflower seed, walnut, soybean, oiticica and a few other oils. Although it is relatively new to the Western world, tung oil has been known for centuries to the Chinese, and until this century, China was the main source for the oil. It comes from the seed of the tung trees, Aleurites fordii and Aleurites montana, deciduous trees that are very susceptible to frost damage. This vulnerability has restricted the cultivation of the tung trees to China and South America.
Currently, Oleaginosa RAATZ, Wuzhou Oasis Chemicals and Xunyang Mingwen Oil are the leaders of tung oil industry.Oleaginosa RAATZis a global leader. In 2020, the production of Oleaginosa RAATZ was 44489 ton, and the company held a production share of 50.6%. In Europe and the United States, Oleaginosa RAATZ and Wuzhou Oasis Chemicals are the market leader.Downstream customers such as Liberon, AkzoNobel, and American Wood Oil use products from both companies.
Tung oil is mainly used for wood finishing, electronic and pesticide. In 2020, wood finishing application held 91% of the consumption market share. Tung oil seeps into the grain of the wood, giving it a perpetual wet look that highly accentualizes the grain of the wood, commonly referred to as making the grain pop. Because of this, the color of the wood is slightly darkened, giving the wood a rich, warm color that is very pleasing.
In the past few years, the production of Chinese tung oil is declining. QYR interviewed the chairman and manager of the major manufacturers. In addition, QYR also interviewed local growers. QYR believes that the industry is not an exciting industry. From 2009 to 2020, Chinas tung oil production is declining due to the reduction in planting area. For manufacturers, they have spent a lot of time and money for buying raw materials, but the profits are indeed meagre. At the same time, this product is not indispensable for wood finishing protection industry. As growers, they cant get more profits than other jobs .Growers are reluctant to plant tung trees, which makes Chinese tung oil continue to decline. The only benefit is to reduce a large number of competitors.
Global Tung Oil market size will increase to 330 Million US$ by 2030, from 270 Million US$ in 2020, at a CAGR of 2.6% during the forecast period. In this study, 2023 has been considered as the base year and 2023 to 2030 as the forecast period to estimate the market size for Tung Oil.
Objectives of Research:
The overview of the global Tung Oil market
Report comprised of the market companies, to describe and define and analyze the Tung Oil market value, share competition landscape, development plans and SWOT analysis.
The report also involves the structure of the industry by identifying its several sub-segments.
To observe the industry with reverence to individual future prospects, development trends, and contribution to the overall market.
Major Players in the Market: The major competitors working in the market are:
, Oleaginosa RAATZ, Wuzhou Oasis Chemicals, Xunyang Mingwen Oil, Qiubei County Shuanglong Oil, Jinxing Tung Oil
Market by Order Type
Raw Tung Oil
Boiled Tung Oil
Tung Oil Data by Application
Wood Finishing
Electronic
Tung Oil Production Regions Covered in the Report are:
North America
Europe
Asia Pacific
Middle East & Africa
Rest of the World
Our team of enthusiastic analysts, research experts, and experienced forecasters work precisely to produce such kind of market report. The research report defines USD values, CAGR (compound annual growth rate) values and their variations for the precise projected time frame.
Before you Purchase get some Insights from this report
The research information and studies associated with participant analysis keep the competitive landscape noticeably into the focus with which the market can select or advance their own policies to increase in the market growth.
The Key Questions Answered In Market Report Are:
Summary of the Tung Oil market comprising definition
Tung Oil Market Growth Drivers, Restrains, Challenges and opportunities
Major trends which is impacting the global Tung Oil market
Tung Oil Market segmentation and complete information about the market
Regional analysis of the market
Which regional market will develop as a champion at intervals in the coming years?
What are the top companies at intervals in the global Tung Oil market?
What are the growth strategies of the key players to sustain hold at intervals in the global Tung Oil market?
Tung Oil Market – By Regions (Market Size –USD Million)
7.1 North America
7.2 Europe
7.3 Asia-Pacific
7.4 Middle East and Africa
7.5 Rest of the World
Customization:
We also provide customized reports according to customer\'s specific requirements. We also provide customization for regional and country-level reports individually.
The Market Research Update offers technology-driven solutions and its full integration in the research process to be skilled at every step. We use diverse assets to produce the best results for our clients. The success of a research project is completely reliant on the research process adopted by the company. Market Research Update assists its clients to recognize opportunities by examining the global market and offering economic insights. We are proud of our extensive coverage that encompasses the understanding of numerous major industry domains.
Market Research Update provide consistency in our research report, also we provide on the part of the analysis of forecast across a gamut of coverage geographies and coverage. The research teams carry out primary and secondary research to implement and design the data collection procedure. The research team then analyzes data about the latest trends and major issues in reference to each industry and country. This helps to determine the anticipated market-related procedures in the future. The company offers technology-driven solutions and its full incorporation in the research method to be skilled at each step.
The Company's Research Process Has the Following Advantages:
Information Procurement
The step comprises the procurement of market-related information or data via different methodologies & sources.
Information Investigation
This step comprises the mapping and investigation of all the information procured from the earlier step. It also includes the analysis of data differences observed across numerous data sources.
Highly Authentic Source
We offer highly authentic information from numerous sources. To fulfills the client’s requirement.
Market Formulation
This step entails the placement of data points at suitable market spaces in an effort to assume possible conclusions. Analyst viewpoint and subject matter specialist based examining the form of market sizing also plays an essential role in this step.
Validation & Publishing of Information
Validation is a significant step in the procedure. Validation via an intricately designed procedure assists us to conclude data-points to be used for final calculations.
We are flexible and responsive startup research firm. We adapt as your research requires change, with cost-effectiveness and highly researched report that larger companies can't match.
Information Safety
Market Research Update ensure that we deliver best reports. We care about the confidential and personal information quality, safety, of reports. We use Authorize secure payment process.
We Are Committed to Quality and Deadlines
We offer quality of reports within deadlines. We've worked hard to find the best ways to offer our customers results-oriented and process driven consulting services.
Our Remarkable Track Record
We concentrate on developing lasting and strong client relationship. At present, we hold numerous preferred relationships with industry leading firms that have relied on us constantly for their research requirements.
Best Service Assured
Buy reports from our executives that best suits your need and helps you stay ahead of the competition.
Customized Research Reports
Our research services are custom-made especially to you and your firm in order to discover practical growth recommendations and strategies. We don't stick to a one size fits all strategy. We appreciate that your business has particular research necessities.
Service Assurance
At Market Research Update, we are dedicated to offer the best probable recommendations and service to all our clients. You will be able to speak to experienced analyst who will be aware of your research requirements precisely.
