Linseed Oil Market Report

Linseed Oil Market Analysis By Application (Paints & Varnishes, Flooring, Processed Food, Cosmetics, Pharmaceuticals), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2014 - 2025

Published: October 2017  |  98 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-648-6

Industry Insights

The global linseed oil market size was valued at USD 720 million in 2016. Increasing demand from paints and coatings industry as a varnish and as a drying lubricant is expected to boost the market over the forecast period. It is derived from dry flax seeds through crushing and solvent extraction and is also known as flaxseed oil.

Linseed oil’s polymer-forming property to polymerize into solid form, which is largely used for blending with various solvents and resins as impregnator and linoleum in paints & coatings sector is projected to propel the market growth. It is also used in manufacturing process of other oils having properties like bonding, grinding, tempering, and catalyzed curing.

U.S. linseed oil market revenue, by application, 2014 - 2025 (USD million)

U.S. linseed oil market

Increasing investments in crop yield and harvesting activities for flaxseed production in the U.S. and Canada are predicted to act as major driving factors for the North American regional segment over the next few years. The growing number of R&D activities associated with the production of linseed oil used in various applications are likely to positively impact the product demand.

Favorable regulations have been imposed on the production of oil crops by the U.S. Food and Drug Administration (U.S. FDA), which are likely to positively impact the market growth. OSHA provides regulations for the safety of workers engaged in the production of linseed oil and the directions for safe use of flaxseed oil as the it is hazardous and may cause fire.

Application Insights

Paints and varnishes was the dominant application segment in 2016 and is likely to be valued at USD 281.34 million by 2025. Paints and varnishes are largely used in wood finishing as coatings due to their properties. Increasing applications of linseed oil in food processing, paint, wood finish, putty, nutritional supplement, linoleum, and gilding are expected to boost the segment growth.

It is used as a carrier in oil paints for making them glossy, transparent, and improving their consistency. It is also used in inks, soaps, and linoleum. It has preservative qualities, which prevent the deterioration of concrete and wood surfaces ensuring the longevity and quality of products coated with the oil. Increasing demand for wood finishing is projected to propel market growth.

The rising investment in technological development with regard to processing flaxseed for the extraction of oil is expected to drive the market over the forecast period. Flaxseed oil contains alpha-linolenic acid (ALA) and essential fatty acid that are advantageous for heart disease patients.

Omega 3 and omega 6 fatty acids have characteristics that are beneficial for the functionality of the human body. Flaxseed oil contains 4:1 ratio of omega 3 fatty acid to omega 6 fatty acids, and its consumption may lead to 70% reduction in mortality along with the prevention of secondary coronary heart disease. They lower the cholesterol levels, control blood pressure, constipation, diverticular disorders, and gallstones in addition to enhancing the growth of hair. The consumption of this oil also reduces the risk of cancer. 

Regional Insights

Asia Pacific was the leading regional segment and accounted for around 33% of the total revenue in 2016. Increasing demand from China due to a large number of manufacturers in this country is projected to propel the regional segment over the forecast period. In terms of construction spending, the highest growth is likely to be centered in the emerging economies of Asia Pacific including China, followed by India and Indonesia.

Growing demand for wooden interiors in this region is anticipated to augment the regional segment. Increasing investment for the production of linseed oil in China is expected to witness robust growth owing to increasing demand for the product from other countries through imports and exports.

Global linseed oil market revenue by region, 2016 (%)

Global linseed oil market

Asia Pacific is predicted to be the fastest growing regional segment over the forecast period, followed by North America. Increasing number of manufacturers & suppliers and growing awareness regarding the health benefits offered by the products in the pharmaceutical industry are projected to positively influence flaxseed oil market from 2017 to 2025.

Increasing demand for wooden products from countries in North America such as the U.S. and Canada is expected to boost the market over the coming years. Growing infrastructural development in this region leading to the huge requirement of wooden products in residential and commercial buildings is projected to propel the market over the forecast period.

Competitive Insights

The market is highly competitive and fairly concentrated. Key participants include Gustav Heess GmbH, Henry Lamotte Oils GmbH, Krishi Oils Limited (KOL), Cargill, Inc., Archer Daniels Midland (ADM) Company, Natrol LLC, and Natural Factors, Inc. among others. The companies are manufacturers and suppliers of linseed oil products used in paints, varnishes, pharmaceuticals, dairy, and food sectors.

Companies are increasingly engaging in joint ventures, acquisitions, and mergers to strengthen their product offerings, expand their global presence, and gain a considerable market share. For instance, in August 2017, ADM Company expanded its plant-based extraction production line to include antioxidants, green tea, acerola, and tropical fruit blends, which are rich in Vitamin C and nutritional ingredients.

Oilseeds business segment of ADM Company includes activities concerning origination, merchandising, crushing, and processing of oilseeds such as soft seeds (flaxseed, rapeseed, canola, sunflower seed, cottonseed) and soybeans into vegetable oil and protein meals. The company offers its solutions to food, animal feed, industrial, and energy sectors.

Several companies follow expansion and investment strategies to increase their production capacities and penetrate the emerging markets. Cargill Incorporated and Archer Daniels Midland (ADM) Company are among the few companies that are integrated across the value chain.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation                                                 

Volume in Thousand Tons, Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central &South America, Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, Belgium, Italy, China, India, Ethiopia

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments covered in the report

This report forecasts the growth in volume and revenue at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global linseed oil market on the basis of application and region:

  • Application Outlook (Volume, Thousand Tons; Revenue, USD Million; 2014 - 2025)

    • Paints & varnishes

    • Flooring

    • Processed food

    • Cosmetics

    • Pharmaceuticals

    • Others

  • Regional Outlook (Volume, Thousand Tons; Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • Belgium

      • Italy

    • Asia Pacific

      • China

      • Japan

    • Central & South America

    • Middle East & Africa

      • Ethiopia

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