Global stearic acid market is
expected to reach USD 11.01 billion by 2022, according to a new study by Grand
View Research, Inc. Increasing penetration of organic chemicals across personal
care products such as shaving creams, shampoos and soaps is expected drive the
global stearic acid market. Benefits such as enhanced shelf life, versatility,
excellent binding & thickening properties and stability, as a base for
cosmetics are anticipated to strengthen its demand over the forecast period.
Powerful surfactant and cleansing properties that assist removal of dirt and
oil in the skin are slated to fuel its demand in soaps and detergents.
Favorable regulations such as Nutritional Labeling and Education Act (NLEA) of
1990, permitting use of saturated fatty acids in food additives are also
expected to impact its demand positively. Hazards related to toxicity coupled
with volatile raw material prices are expected to remain a key challenge for
market participants.
Soaps & detergents emerged
as the largest application segment and accounted for 28.9% of the total market
volume in 2014. Growing detergents industry in emerging economies may be
attributed for high level of market penetration in the segment.
In depth research report on Stearic Acid Market
Further key findings from the study suggest:
•
Global stearic acid demand was
5,744.3 kilo tons in 2014 and is expected to reach 8,129.9 kilo tons by 2022,
growing at a CAGR of 4.5% from 2015 to 2022.
•
Personal care is projected to
witness the fastest growth of 5.1% over the forecast period. Growth of personal
care industry in Asia Pacific and Latin America is expected to drive this
segment over the forecast period. Surging organic personal care and cosmetic
products demand is also estimated to fuel stearic acid demand.
•
Growing application scope
across various niche segments including metal processing, candle manufacturing,
and pharmaceuticals is also expected to drive global stearic acid industry
growth in near future.
•
Asia Pacific was the largest
regional market and accounted for 42.7% of total volume in 2014. Asia Pacific
stearic acid market is characterized by rapid industrialization coupled with
rising disposable income level particularly in India, China and Indonesia.
These factors may be attributed to the rising product demand across various
application segments in the region.
•
Major companies operating in
global stearic acid market include The U.S. Chemical Company LLC., BASF,
AkzoNobel, Emery Oleochemicals, Wilmar International, Godrej Industries, Oleon,
Pacific Oleochemicals Sdn Bhd, Kao Chemicals, and Kuala Lumpur Kepong (KLK).
For the purpose of this study,
Grand View Research has segmented the stearic acid market on the basis of
application and region:
Global Stearic Acid Application Outlook (Volume, Kilo
Tons, Revenue, USD Million, 2012 - 2022)
•
Soaps & Detergents
•
Intermediates
•
Personal Care
•
Rubber Processing
•
Textile
•
Lubricants
•
Others
Global Stearic Acid Regional Outlook (Volume, Kilo Tons,
Revenue, USD Million, 2012 - 2022)
•
North America
•
U.S.
•
Europe
•
Germany
•
UK
•
France
•
Asia Pacific
•
China
•
India
•
Central & South America
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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