Linseed oil is an oil extracted from seeds of flax plant. It is used to make paints and inks, or to rub into wooden surfaces to protect them. In addition, it is polymerized into solid form and used as impregnator. Linseed oil have preservative qualities, which are help to prevent deterioration of concrete and wood surfaces and improve quality and lifespan of the product. Linseed oils are also used in inks, soaps, and linoleum. Linseed oils are widely used in manufacturing of various products such as putty, paints, wood finish, floorings, gliding, linoleum, nutritional supplement, food processing, etc. Increasing individual preference towards nutritional food and government regulations are expected to drive growth of the global linseed oil market over the forecast period.
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On the basis of application, the target market is segmented into paints and varnishes, flooring, processed food, cosmetics, pharmaceuticals, and others. Paints and varnishes application segment is accounted for the share in the target linseed oil market in terms of revenue, owing to their usage in wood finishing as coatings because of their polymer-forming property. Linseed oils are used as a carrier especially in oil paints to make them glossy, transparent, and improving products consistency.
Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to technological advancements and increasing demand for linseed oil in various end-use industries. The market in Europe is expected to account for significant growth, owing to increasing adoption of linseed oils in cosmetics, food processing and medical industries. The market in Asia Pacific is expected to register highest CAGR in terms of revenue in developing countries such as India and China in the region.
Key players operating in the global linseed oil market include Krishi Oils Limited, Gustav Heess GmbH, Linolie Danmark Aps, Henry Lamotte Oils GmbH, WS Lloyd Ltd., Natrol, LLC., and Cargill Inc.