Global Stearic Acid Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026
Global Stearic Acid Market Overview
"The Stearic Acid Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Stearic acid is called octadecanoic acid and is used in various applications such as the food, cosmetic, rubber, and pharmaceutical industries. Stearic acid is derived from palm oil, corn, etc., which is insoluble in water. It is also used for the production of soap, shampoos, and candle-making applications. In addition, it is also used to coat metal powders such as aluminum and iron to extend their shelf-life.
Increasing demand for intermediates and additives applications in various industries across the globe is a key factor expected to drive global market growth over the forecast period. In addition, increasing the adoption of stearic acid in the automobile sector is another factor expected to fuel the growth of the target market. Furthermore, rising consumer awareness of personal health and hygiene is also expected to support the growth of this market. Increasing use of stearic acid for metal cleaning and candle manufacturing is also expected to propel the growth of the global market shortly.
However, stearic acids have low water solubility, which results in a residual film on skin, which is a key factor expected to restrain growth of the global market over the forecast period. In addition, fluctuating raw material prices is another factor expected to hamper growth of the target market shortly.
An ongoing trend observed in the target market is the increasing adoption of stearic acid in lead-acid batteries across the globe. Increasing R&D activities and increasing investments in cosmetic industry for developing innovative products are expected to create lucrative opportunities for manufacturers operating in the target market.
The market in the Asia Pacific dominates the target market in terms of revenue over the forecast period, owing to rapidly growing industrialization and changing lifestyles in various countries in the region. The market in North America is expected to account for second-highest share in the target market over the forecast period, owing to increasing demand for personal care products and rising adoption of biofuels automotive and aviation sector, especially in the US. The market in Europe is projected to register significant growth over the forecast period, owing to increasing demand for convenience food as well as personal care products such as shampoos, lotion, and creams in various countries in the region.
Global Stearic Acid Market segmentation:
Segmentation by application:
- Soaps & detergents
- Personal care
- Rubber processing
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- P&G Chemicals
- the Chemical Company
- BASF SE
- Kao Corporation
- VVF Limited
- Godrej Industries Limited
- IOI Oleochemical Industries Sdn Bhd
- Kuala Lumpur Kepong Berhad
- Pt Sumi Asih
- Pacific Oleochemicals Sdn Bhd
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