Borneo Tallow Nut Oil or Sal nut oil Market Introduction
The botanical name of Borneo tallow nut oil tree Shorea spp. Named after Governor General of East India Company Sir John Shore, Borneo tallow nut oil or Sal nut oil is extracted from the fruit of the species of genus Shorea. The Borneo tallow tree is very tall which grows to around 80 – 90 meters. The Borneo tallow nut oil trees are native to South East Asia and were found in the forest of Northern India, Malaysia, Indonesia and Philippines. The Borneo tallow nut oil fruit contains an oil-bearing kernel which has a typical fat content of around 45–70%. The Borneo tallow nut oil contains fatty acids. The Borneo tallow nut oil is generally extracted from fruits, which are boiled in a pan and put in a rattan bag that is placed between logs of wood, and later the logs are squeezed together. The extracted oil is stored in bamboo cylinders. For industrial purposes, Borneo tallow nut oil and solvent extraction with hexane are used. Borneo tallow nut oil is purified and bleached. Post-extraction of Borneo tallow nut oil contains tannic acid and can be used as animal feed.
Borneo Tallow Nut Oil Market Dynamics
The major component of the Borneo tallow nut oil is stearic acid, Borneo tallow nut oil contains around 43% of stearic acid, mainly function as thickening agent in making soaps and candles. Borneo tallow nut oil primarily used as a substitute for cocoa butter and as an ingredient in candles and soaps. The growing demand for organic additives in the fast-moving consumer goods can be a driving factor for Borneo tallow nut oil.
Borneo tallow nut oil is used in making candles, cosmetics and other medicines. The multipurpose use of Borneo tallow nut oil can act as a demand driver in the near future.
The Borneo tallow nut oil tree does not start to bear fruit until it is 20 – 25 years old, and Borneo tallow nut oil fruit grows approximately once in every five years. Borneo tallow nut oil fruits are insect-pollinated and remain without flowers for several years. This natural phenomenon of Borneo tallow nut oil tree can be a key restraining factor for the Borneo tallow nut oil market.
Market Segmentation of Borneo tallow nut oil Market
On the basis of end-user, Borneo tallow nut oil can be segmented into pharmaceuticals, personal care, cooking oil ingredient and consumer goods.
On the basis of methods of extraction, Borneo tallow nut oil can be segmented into traditional method of extraction and industrial method of extraction.
On the basis of functional use, Borneo tallow nut oil can be segmented into, skin health, nutritional agent, anti-aging and aromatherapy.
Regional Outlook for Borneo tallow nut oil Market
The Borneo tallow nut oil can be segmented into six regions: North America, Latin America, Europe, APEJ, Japan and MEA.
North America is expected to show a growth in the demand for Borneo tallow nut oil market because of the several uses of Borneo tallow nut oil and its benefits because of the high fatty acid content.
Europe is also expected to support the growing demand of Borneo tallow nut oil as it is used in the confectionary industry and especially in the manufacture of chocolate, as a cocoa butter alternative.
Latin America and Europe would expect to retain their market share in the Borneo tallow nut oil market during the forecast period.
Asia would expect to lead the demand of Borneo tallow nut oil because of the easy availability of Borneo tallow nut oil in the region and several uses of Borneo tallow nut oil.
Japan is also one of the key importers of Borneo tallow nut oil. Till 1990, Japan used to import Borneo tallow nut to extract the oil but has since started importing Borneo tallow nut oil instead of nuts.
According to secondary data available, in the peak years, Indonesia exported 41,000–50,000 tons of the Borneo tallow nut dry fruits annually.
The Middle East and Africa is expected to show a growth in the demand for Borneo tallow nut oil market in the near future.
Market Players in Borneo Tallow Nut oil Market
The key suppliers of Borneo tallow nut oil market include Parchem – Fine and Specialty Chemicals, Agric Oils Ltd, Qualitygoodsltd and GTS Traders Association.
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