Stearic Acid Market Size, Share, Growth, Trends, and Global Industry Analysis: By Application (Personal Care Industry, Food Industry, Pharmaceutical & Biomedical Science Industry and Industrial Uses), By End User (Personal Care, Food and Beverages, Healthcare, Textile, Automotive, Agriculture, and Others.), and Region  

Stearic Acid Market size was valued at US$ 33.6 billion in 2022 and is expected to grow at a CAGR of 8.68% from 2023-2029. Stearic acid is also called octadecanoic acid, which is basically one of the most common long-chain fatty acids. Stearic acid has extensive applications in many fields, for instance, cosmetic additives industry, rubber industry, food industry, pharmaceutical industry and biomedical science industry. Although, stearic is generally derived from palm oil, it is also derived from others sources such as corn, which is a waxy solid that is almost insoluble in water. Since, stearic acid occurs in many animal and vegetable fats and oils. However, animal fat is richer than vegetable fat by 15%. One of the most popular uses of stearic acid is in the production of candles to harden the wax and strengthen the candle. Stearic acid is also commonly used in the production of soap. It give shampoos a pearly color and also helps to make harden soaps. Furthermore, preventing oxidization is another key use of stearic acid. It is also used to coat metal powders such as iron and aluminum, used in fireworks that allow them to be stored for longer period of time. It is also used in some metal polishes to prevent the oxidation, to produce magnesium stearate and rust that can occur on metal parts of tools. Development and launch of innovative products of stearic acid by the market players enables surge. in the global stearic acid market demand over the forecast years. For instance, in 1997 VVF LLC launched Doy Care soap for kids to utilize excess capacity in India and earn higher margin. Based on application, the global stearic acid market is segmented into personal care industry, food industry, pharmaceutical industry and others. Personal care segment is expected to dominate the market owing to rising organic personal care products demand on account to increasing consumer awareness. Soaps and detergents emerged as one of the most significant application and accounted for approximately XX% of the global volume in 2015. Global stearic acid market is consolidating as large players complementing each other’s businesses by means of collaborations and acquisitions. For instance, on June 9, 2016, Kao Chemicals Europe, S.L. concluded an asset acquisition agreement of Chimigraf Holding, S.L. On June 9, 2016, Kao Chemicals Europe, S.L. concluded an asset acquisition agreement of Chimigraf Holding, S.L.