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Stearic Acid Market Growth Opportunities, Industry Outlook, Research Analysis Report by 2024

Author : Rahul Sankrityayan | Published Date : 2019-03-29 

The research report scrutinizes the global Stearic Acid industry from 360 degree perception, taking manifold facets into consideration including segmentation, key developments, market overview, market growth and dynamics, market trends and future outlook, market opportunities, potential investment segment, competitive landscape etc.

Stearic Acid Market size was over 5,000 kilo tons in 2015 and it is forecast cross 7000 kilo tons by 2024 with estimated gains of more than 3% CAGR. Stearic acid is extensively used in personal care products including shampoos, soaps and shaving creams. It offers versatility, thickening, binding, stability and enhanced shelf life which makes them preferred in the personal care products usage.

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It also offers surfactant and cleansing properties which helps in oil & dirt removal making it desirable raw material in soaps and detergent production Increasing disposable income accompanied with upgrading end user life style will drive industry growth over the forecast timeframe. The global cosmetic market generated revenue more than USD 155 billion in 2006 and marked USD 220 billion in 2015, with 3.5% growth. Furthermore, increasing organic chemicals application across personal care products will further complement industry growth.

Growing application scope in niche sectors such as dietary supplements, candle manufacturing, metal processing and pharmaceutical industry will positively influence stearic acid market size. Increasing awareness amongst consumers towards use of dietary supplements to keep them healthy and hygienic in daily life schedules will boost stearic acid market size over the forecast timeframe.

Stearic acid is saturated fatty acid and waxy solid derived from animal fat or vegetable oils. Supporting government regulations such as nutritional labelling and education act (NLEA), which allows saturated fatty acids in food additives will positively impact on the product demand.

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Fluctuating raw material supply for petrochemical and vegetable oils along with toxic hazards of products may negatively impact stearic acid market price trend and challenge industry participants. Excessive concentrated product consumption may cause health issues such as liver toxicity, human & animal skin disease and cancer which may hinder stearic acid market product demand. However, increasing investments towards innovations and development of 100% bio based product may create growth opportunities for the industry participants by 2024.

Soaps & detergents, personal care, intermediates, textiles, rubber processing and lubricants are major application of stearic acid market share. Personal care application segment is estimated to experience the fastest gains more than 5% CAGR owing to rising organic personal care products demand on account to increasing consumer awareness.

Metal processing, plastics, rubber processing, and intermediaries are some of the notable application. It forms a preventive coating in metal powders used in fireworks to store them for long duration. Moreover, it is used in metal polishing to prevent it from corrosion & rust on metal parts.

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North America and Europe are mature market and it is anticipated to witness strong growth over the forecast period especially in the U.S, Germany and France. Furthermore, France is one of the largest contributor for cosmetic industry. Latin America is expected to experience substantial gains mainly driven by rapid industrialization, consequently driving industry growth for lubricants, rubber and metal processing.

Global stearic acid market size is moderately consolidated with industry players involved in strategic developments via acquisitions and mergers. Key industry participants are the U.S chemical company, P&G, AkzoNobel, BASF, Godrej, and Wilmar international. Other industry participants are Oleon, VVF, Pacific Oleochemicals, Kuala Lumpur Kepong Berhad (KLK), and Kao Chemicals.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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