Stearic Acid Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Global Stearic Acid Market: 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 Geography

 

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Report

Description

 Global Stearic Acid Market was valued at USD 33.6 Bn in 2020 and is anticipated to grow at USD 50.78 Bn by 2027 recording a CAGR of 8.68%. during the forecast period 2021-2027. 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 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.

 


Global Stearic Acid Market

MARKET SUMMARY
-
8.68%.
  • Study Period– 2021-2027
  • Base Year– 2020
  • CAGR–8.68%.
  • Largest Market– Asia-Pacific
  • Fastest Growing Market–North America

Stearic Acid Market

  • Stearic Acid Market gives historical, current, and future market sizes (US$ Bn) of product type and distribution channel and geographic regions.
  • This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
  • In addition, the market report includes regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
  • Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
  • Key stakeholders of the market report include suppliers, manufacturers, marketers, policy makers engaged in manufacturing and supply of Infant nutrition
Market Key Players
  • US chemical company
  • P&G
  • AkzoNobel
  • BASF
  • Godrej,
  • Wilmar international
  • Oleon, VVF
  • Pacific Oleochemicals
  • Kuala Lumpur Kepong Berhad (KLK)
  • Kao Chemicals
Growth

Stearic Acid Market

The steady growth in the industries such as construction, automotive, cleaners and personal care it is expected to drive the demand for stearic acid in the production worldwide. Personal care segment is the major growth driver sine it is the fastest growing segment where stearic acid plays an important role. Moreover, the overall fatty acid market is growing which is another growing factor for stearic acid market. The only restraining factor for stearic acid is having low water solubility, which can result in a residual film on bathtubs and skin. Hence, it is usually used as additives rather than as a primary ingredients. However, the dynamic use of stearic acid has a very good growth prospect. Metal cleaning and candle manufacturing are also expected to grow in the near future. Moreover geographically, China, India and ASEAN countries hold good opportunity.


Asia Pacific Got Significant Share

Stearic Acid Market

Geographically, Stearic Acid Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific accounted for major revenue share due to rapid industrialization along with high disposable income of consumers. The regional growth is also favored by robust growth in automotive industry in Indonesia and Thailand. High detergents and plastics demand in the emerging nations such as Korea and Malaysia will further complement regional growth. 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.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2015 to 2020) and forecast (2021 to 2027)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Key

Key Findings of the Report

Stearic Acid Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • US chemical company
  • P&G
  • AkzoNobel
  • BASF
  • Godrej,
  • Wilmar international
  • Oleon, VVF
  • Pacific Oleochemicals
  • Kuala Lumpur Kepong Berhad (KLK)
  • Kao Chemicals

Description

 Global Stearic Acid Market was valued at USD 33.6 Bn in 2020 and is anticipated to grow at USD 50.78 Bn by 2027 recording a CAGR of 8.68%. during the forecast period 2021-2027. 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 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.

 

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