5th December 2019 – Global Stearic
Acid Market is estimated to grow significantly in the forecast period
owing to the increasing application of stearic acid in personal care products.
Stearic acid is a saturated fatty acid that is derived from animal and
vegetable fats and oils. It is used in the manufacturing of pharmaceutical
products, personal care products (soaps, detergents, shaving creams, shampoo,
etc.), candle making and lubricants.
Esters of stearic acid are used in the
production of a lustrous effect in soaps, shampoos and other personal care
products. Stearic acid offers versatility, thickening, stability, binding and
improved shelf life, which makes them ideal to be used in personal care
products. It also offers surfactant and cleansing properties that help in oil
& dirt removal, making it an indispensable raw material for detergent and
soaps production.
In the recent years, the demand for
stearic acid has witnessed progressive rise and this trend is predicted to
continue in the forecast period as well. The major reason for this trend is the
varied range of application products that encompass the use of stearic acid.
The application products that include stearic acid mainly comprise hardener for
candies, production of plasticizer alcohols, cleaners, detergents, lubricants,
etc. The increasing demand for these products from industries like plastics,
automotive, paints & coatings, and oil & gas is expected to stimulate
the demand for stearic acid, thereby affecting stearic acid industry growth.
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Increasing application scope in niche
sectors like dietary supplements, metal processing, candle making and
pharmaceutical industry is predicted to influence stearic acid market
positively in the years to come. The growing consumer awareness for the use of
dietary supplements for healthy and hygienic lifestyle will drive the market in
the coming years.
Government regulations for Nutritional
Labelling and Education Act (NLEA), 2018 concerning the use of saturated fatty
acids in food additives is expected to fuel the market impressively. Moreover,
increasing organic chemicals application in personal care products will further
accompany stearic acid industry growth.
Inconsistent supply of raw material for
vegetable oil, petrochemical and toxics of products may adversely impact
stearic acid market and opposing influence may further impact pricing trend and
challenge the existing market players. Excess consumption of concentrated
product may cause health issues like skin disease, liver toxicity, and cancer,
which may again hamper the demand of stearic acid. However, growing investments
for improvement of pure bio-based product may open growth opportunities for the
market players in future.
Stearic acid industry is categorized on
the basis of application and geography. On the basis of application, the market
is divided into lubricants, rubber processing, personal care, fuel additives,
soaps & detergents, and others. Geographically, stearic acid market is
segmented as North America, Latin America, Europe, Asia Pacific, and Middle
East & Africa. Owing to speedy industrialization, growth for the need of
lubricants, rubber and metal processing, North America and Europe are predicted
to hold larger market share of stearic acid in near future.
The key players in stearic acid industry
comprise Akzo Nobel, BASF, Cayman Chemical, Chemceed, Croda International,
Godrej Industries, Procter & Gamble, 3F GROUP, Deeno Group, Emery
Oleochemicals, IOI Corporation Berhad, Kao, KLK OLEO, Pacific Oleo Chemicals,
Stepan, Nimir Industrial Chemicals, Jarchem Industries, Nissan Chemical America
Corporation, Oleon, TAIKO KIKAI INDUSTRIES, and VVF, and Wilmar International.
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