The global linseed oil market is anticipated to grow at a CAGR of 2.7% between 2018 and 2026. Increasing application of linseed oil in several industries including food, cosmetics, and pharmaceuticals as the major ones, expected to drive its demand. Market dynamic has significantly changed over the recent years with growing demand from a variety of end-use industries. European industry currently has been putting efforts to increase its production. Canada has made a comeback in the worldwide market as a major supplier after production for export dropped for many years. Linseed is also used for direct human consumption in many countries owing to its high nutritional values. It has been gaining popularity within niche segments such as the organic market space.
China, Russia, Argentina and Kazakhstan are among the major producers of linseeds or flaxseeds making these counties. Majority of the oil consumption actually is within the healthy or nutrition rich food and bakery segments and its share of consumption is increasing in the food industry worldwide. As flaxseed oil is derived from the enormously nutritious and disease preventing flaxseed. It is rich in fatty acids and healthy omega-3 components that make it a suitable alternative for several chemical products used in pharmaceuticals, cosmetics and even in food products. Some of the major benefits of the product include its ability to help in weight loss, relieves in situations of diarrhea, budwig diet protocol for cancer, removes cellulite and eczema, helps in treating sjogren syndrome, and boost heart health.
Paints and varnishes is yet another primary consumer of the product. Traditionally majority of linseed oil produced was used in paints, coatings, varnishes and few other industrial applications. Varnishes and paints formulated with this product are still considered the high quality premium category products and were the most durable. Currently, it is also used as diluents in paints & coatings. The by product from flaxseed oil meal left from oil extraction is also used in animal feeds.
The global linseed oil market is segmented based on type of its application and regional segments. The application segment is further segmented into processed food, paints & varnishes, cosmetics, flooring, pharmaceuticals and others. Linseed oil based paints has been popular for many decades with numerous positive characteristics.
Linseed oil coatings and paints are permeable. This prevents the wood under the applied paint from decomposing unseen under the coating or paint’s surface. Most linseed oil colors are weatherproof. Linseed oil has a small molecular size, so it penetrates easily deep into the surface on which it is applied to. In comparison to other types of colors, linseed oil allows the best possible adhesion. The product increases its mass density after its application and therefore does not allow water to penetrate the wood’s surface. The wood is protected and does not rot. In addition, the paint’s own pigmentation provides protection against the ultra-violet radiation of the sun.
Asia Pacific is the largest market for linseed oil market due to higher of consumption. China recorded to be the global linseed oil market leader in processing of flaxseed crushing nearly 0.7 Mt annually. The country also toped in terms of consumption of flaxseed meal at 0.47 Mt in 2017. Increasing production of paints and coatings in the region is a major factor driving the industry. Increasing product demand from the region’s processed food manufacturing sector along with the significantly developing pharmaceuticals industry of the Southeast Asian countries have played a tremendously vital role in boosting product demand.
Some of the leading industry players in the present linseed oil market include Barlean’s, Bioriginal Food & Science Corp, Natural Factors Inc., Natrol LLC, Archer Daniels Midland (ADM) Company, Cargill, Incorporated, Krishi Oils Limited (KOL), Henry Lamotte Oils GmbH, Gustav Heess GmbH and granoVita.