Linseed oil market might may face substitute threats from increasing usage of synthetic alkyd resin. It causes eye and skin irritation when comes in contact and may hamper its adoption in childcare products, thereby hindering industry growth.
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Flaxseed is the key raw material used for manufacturing process. Fluctuating raw material costs may hinder supply dynamics and impact linseed oil market price trend. However, technological advancement in end-user industry along with environmental regulations on using synthetic alternatives and rising demand will propel industry growth.
North America, driven by Canada, and the U.S. linseed oil market size may show significant demand owing to increasing application scope in wooden product, dietary supplement and cosmetic industries. Canada is the one of the biggest flaxseed oil supplier and the export was over 730 kilo tons in 2015.
Europe, led by UK, Russia, France and Germany linseed oil market size may show steady gains owing to growing cosmetics and medicinal sectors. Improved standard of living along with increasing health concerns should drives regional growth.
Asia Pacific, led by Japan, Taiwan, India and China linseed oil market, should witness highest gains. Strong application outlook in paints and food processing industries should drive regional growth. China imports flaxseed and the production was around 350 kilo tons in 2015.
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Linseed oil industry size may witness strong gains over the projected timeframe owing to increasing application scope in food, pharmaceutical, and cosmetic industry. It is widely used in manufacturing of various products including paints, gliding, putty, floorings, wood finish, linoleum, nutritional supplement and processed food.
Linseed oil is a colorless to yellow product obtained from ripened, dried seeds of flax plant and known as flaxseed oil. It can be produced by pressing or through solvent extraction process. Additionally, it polymerizes into solid form and used by blending with various resins, or solvents as impregnator.
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Global flaxseed market size registered over USD 560 million in 2015. It is a nutritionally enriched seed used for animal feed and human consumption. They are mainly used in cereals, bread, energy bars, snacks, and crackers. India, China, UK, Russia, France, Argentina, and the U.S. are the largest flaxseed producers globally.
Global linseed oil market share is competitive. Some key players operating in the industry include ADM, Cargill, Bioriginal Food & Science Corp, and Natural Brand. Other industry participants include Barlean’s, GranoVita, OmegaFactors, Linolie Danmark Aps, and Gustav Heess.
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