Linseed Oil Market is forecast to reach $1.3 million by 2025, after growing at a CAGR of 2.9% during 2020-2025. As a varnish and a curing lubricant, increasing demand from the paint and coating industry is projected to fuel the linseed oil industry. By grinding and solvent extraction, it is extracted from dried flax seeds and is also known as flaxseed oil. The report covers Linseed Oil market size by application, Linseed Oil market share by top 5 companies and also the market share by start-ups during the forecast period.
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By End User – Segment Analysis
Paints and varnishes was the dominant application segment. Owning to their qualities, paints and varnishes are widely used as coatings for wood finishing. Increasing linseed oil applications are expected to fuel segment development in food processing, painting, wood finishing, putty, nutritional supplement, linoleum, and gilding. It is also used in oil paints as a carrier to make them shiny, translucent and to enhance their quality. Inks, soaps, and linoleum are also used. It has preservative properties that keep cement and wood surfaces from rotting, guaranteeing the durability and performance of oil-coated products. It is expected that increased demand for wood finishing would fuel market growth.
Geography – Segment Analysis
Asia Pacific was the region’s leading market, accounting for about 36 percent of total sales in 2019. Increasing demand from China is expected to propel the regional segment over the forecast period due to a large number of manufacturers in this area. Construction investment is likely to focus the highest growth in Asia Pacific’s emerging economies, including China, led by India and Indonesia. Growing demand in this area for wooden interiors is expected to increase the regional segment. Increasing investment in linseed oil production in China is expected to witness robust growth due to increased demand from other countries for the product through imports and exports. On the other hand, increasing demand from North American countries such as the U.S. and Canada for wood products is projected to fuel the industry in the coming years. -infrastructural growth in this area, resulting in the tremendous demand for wood products in residential and commercial buildings, is expected to fuel the market over the forecast period.
Drivers – Linseed Oil Market
Anti-cancer properties of linseed oil have increased the demand in healthcare.
Linseed and linseed oil, a polyphenol compound found in plants, is the largest source of lignans on Earth among all plant sources. Lignan from linseed oil serves as phytoestrogens, an anti-carcinogenic plant nutrient. Numerous rat and mice experiments have shown that linseed oil rich in lignan can reduce a tumor’s size and prevent metastasis, especially the studies on prostate, lungs, and breast have shown successful results in humans. Research carried out with linseed oil supplemented with lignan shows that cancer can be avoided. According to a review, the Budwig Diet, one of the most common anticancer diets derived from linseed oil combined with cottage cheese, leads to a chemical reaction between the sulfur protein in the cottage cheese and linseed oil due to the combination of oil and cottage cheese, which enables the water to be absorbed into the cells.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Linseed Oil market. In 2019, the market of Linseed Oil has been consolidated by the top five players accounting for xx% of the share. Linseed Oil Market top 10 companies are Archer Daniels Midland Company, AOS Product Private Limited, Lamotte Oils, Linolie Danmark ApS, Gustav Heess Gmbh, Welch, Holme & Clark Co., Inc., Bioriginal Food & Science Corp, Natrol, Cargill U.S., and Nature’s Way, among others.
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