Dallas, Texas, May 19, 2021 (GLOBE NEWSWIRE) -- The “Global Stearic Acid Market Size 2019, by Application (Soaps & detergents, Intermediates, Personal Care, Rubber Processing, Textile, Lubricants, Others), by Region and Forecast to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
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The global stearic acid market is anticipated to cross USD 12.0 billion by 2025, growing at a CAGR of over 5.0%. Rising global cleaners, personal care, cosmetics, automotive, and construction industry is expected to open new opportunities for stearic acid manufacturers to increase their production output and cater to growing end-user requirements. The Personal Care category is the main growth factor sine where stearic acid plays a significant role. Also, the overall demand for fatty acids is increasing which is another rising consideration for the stearic acid industry. However, poor water solubility and volatile raw material prices are expected to be the market restraints. Dynamic stearic acid use, however, has rather strong growth potential. Metal cleaning and the production of candles are also expected to increase in the near future. In addition to this, China, India, and ASEAN countries are likely to offer strong geographical opportunities over the years ahead.
The global stearic acid market report provides market estimates from 2015 to 2025. The study highlights various current and future aspects of the market such as driving factors, market hindrances, and opportunities. The report covers market categorization at the global, regional, and country levels Porter's five forces analysis is used as an analytical tool to evaluate the market competitiveness of the stearic acid industry.
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By application, the global stearic acid market is categorized as soaps & detergents, intermediates, personal care, rubber processing, textile, lubricants, and others. Increasing adoption of stearic acid in metal processing, pharmaceutical industries, candle production, and dietary supplements is expected to open new avenues for stearic acid manufacturers to increase their production capacities to cater growing requirement. Increasing consumer understanding of using dietary supplements to keep them safe and hygienic in everyday life schedules would increase the size of the demand for stearic acid over the timeframe forecast.
Economic development followed by increasing per capita expenditure in India, China, Japan, South Korea, and Southeast Asia is expected to increase stearic acid market penetration in Asia Pacific over the coming years. Additionally, well-established personal care and cosmetics industry is expected to increase stearic acid market concentration in North America and Europe over the coming years.
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The global stearic acid market is competitive as large number of well-established petrochemical manufacturers are operating in this industry. Some prominent manufacturers are The Chemical Company, VVF LLC, Cayman Chemical, U.S. Chemicals LLC, Deeno Group, Parchem, Pacific Oleochemicals, Kao Chemicals, Emery Oleochemicals, BASF, and AkzoNobel.
Leading players operating in this industry are adopting merger & acquisition, research & development, new product development, and facility expansion strategies to strengthen their geographical reach and increase customer base. For instance, in sept 2017, the Malaysian state of Sabah is expected to start its first oleochemical plant to process industrial palm oil in to soap noodles and stearic acid. Increasing oleochemicals production expansion followed by rising stearic acid demand for personal care products, rubber processing, lubricants, textile, and soap & detergents is expected to prompt new manufacturers to enter in to the industry to cater untapped market in developing economies.
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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Stearic Acid Market by Application
Chapter 6 Stearic Acid Market by Region
Chapter 7 Company Profiles
Chapter 8 Competitive Landscape
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