What is Tung Oil Market Scope?
Tung oil is a drying oil that is extracted by pressing the seed from the tung tree nut. In recent times, tung oil is gaining popularity as it is a naturally derived substance and it is very hard after it cures and offers the waterproof ability. China, Japan, and other countries in the Sinosphere use tung oil for oil-paper umbrellas to protect paper from getting wet. As the tung oil is naturally derived and non-toxic it can also be used to make kitchen utensils. Tung oil is highly applied on wood products or furniture to give finishing and protect the wood from absorbing water. Tung oil can be used as a pesticide as it has insect resistance properties.
The Tung Oil market study is being classified by Type (Raw Tung Oil and Boiled Tung Oil), by Application (Finishing, Pesticide, Paint & Coating and Others) and major geographies with country level break-up.
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Minwax (United States), Mehta Petro Refineries Limited (India), Sigma-Aldrich (United States), Vietnam Essential Oil (Vietnam), Rustins (United Kingdom), Real Milk Paint (United States), G.C. Rutteman & CO B.V. (Netherlands), INTERFAT (Spain), PLAZA Chemical Industries (India) and OLEAGINOSA RAATZ S.A. (Paraguay) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Tung Oil market by Type, Application and Region.
On the basis of geography, the market of Tung Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Market Trend
- Use of Tung Oil to Line Food & Beverages and Medicines Containers
Market Drivers
- Surging Demand for Tung Oil for Finishing Wood Furniture, Bamboo, Stone, Metal Surfaces, Etc.
- Development of Environmental and Health Regulation
Opportunities
- Growing Consumption of Tung Oil in Manufacturing of Paints as a Waterproofing Agent
Restraints
- Slow Penetration Compared to the Other Faster Drying Wood Stain and High Cost of Pure Tung Oil
Challenges
- Tung Oil is Difficult to Store as It Should Be Kept from Heat and Light
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Tung Oil Manufacturers, Suppliers and Distributors of Tung Oil, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
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