Newark, May 30, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the stearic acid market will grow from USD 31.82 Billion in 2023 to USD 70.17 Billion by 2033. The increasing demand for personal care products, soaps, and detergents drives a significant expansion in the global stearic acid market. Significant growth is expected in the global market, primarily due to fast industrialization and rising disposable income, which will fuel the growth of stearic acid.
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Scope of Stearic Acid Market
| Report Coverage | Details |
| CAGR | 8.23% from 2024 to 2033 |
| Market Size in 2023 | USD 31.82 Billion |
| Market Size by 2033 | USD 70.17 Billion |
| Largest Market | APAC |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | by Feedstock, Application, Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Key Insight of the Stearic Acid Market
Asia-Pacific region will account for the largest market size during the forecast period.
Asia-Pacific region will hold a significant market share due to the rapid growth of the end-user industries. Asia-Pacific holds the largest market share because of its growing urbanization and rising younger generation population in developing countries like India. As a result, this region is the world's largest consumer of cosmetics and personal care goods. The largest consumer market is found in developing nations like China and India. The largest market for cosmetics and personal care products, fueling the stearic acid market in the area, is also due to rising per capita income and the fact that India has the largest proportion of younger people.
The animal-based raw material segment is expected to augment the market during the forecast period.
The feedstock segment is divided into vegetable-based raw materials and animal-based raw materials. The animal-based raw material segment is expected to augment the market during the forecast period. Mutton tallow, lard, butter, beef tallow, and cocoa butter are a few examples of animal-based sources of stearic acid. Stearic acid makes up between 9% and 16% of the total fat in meat. The stearic acid content in cow liver can reach up to 33%.
The soaps and detergents segment is expected to augment the market during the forecast period.
The end-user segment is divided into personal care, rubber processing, lubricants, soaps and detergents, textiles, plastics, and others. The soaps and detergents segment is expected to augment the market during the forecast period. Stearic acid aids in the hardening of goods like soap bars and candles, enabling the latter to produce a velvety, thick lather. Because of its features, it is perfect for use in shaving foams.
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Market Dynamics
Driver: Increasing usage in lead acid batteries
Lead-acid batteries are becoming increasingly common since they can power motors, cars, nuclear submarines, and other devices in emergencies. Stearic acid is utilized as a negative plate addition in lead-acid battery manufacturing because it increases the hydrophobicity of the plate, which is particularly useful when the battery needs to be dry-charged. When the plates are left to dry in the open after the tank formation process is finished, the stearic acid helps to lessen the oxidation extension of the negative active material or the lead that forms again. Compared to a battery without additional stearic acid in its plates, this helps to significantly shorten the amount of time needed to charge a dry battery for the first time. Stearic acid is in greater demand due to its growing use in lead-acid batteries.
Restraint: Potential side-effects
Over-usage of stearic acid products can lead to numerous severe health problems, including liver poisoning, cancer, and skin damage. Magnesium stearate overdoses have been linked to skin damage and incidences of liver poisoning. Stearic acid side effects include blisters, irritation, burning and itchy sensations, rashes, and more. These factors are hampering the market.
Opportunity: Increasing growth of biodegradable products
The increasing consumer knowledge of environmental and health issues increases demand for sustainable and biodegradable products. As stearic acid comes from plants, it is frequently used to replace chemicals in cosmetics and other items. Stearic acid is used more often in many items, such as candles, lubricants, cosmetics, and so on, due to consumer desire for biodegradable goods. Additionally, because of supply chain issues, changes in petrochemical product prices lead to problems with supply and demand. All of these factors encourage the adoption of biodegradable and sustainable products, which propels the market for stearic acid.
Challenges: Potential health hazards
Stearic acid production regulations raise concerns about sustainable development. The concerned regulatory agencies should oversee the manufacturing practices. If the manufacturer fails to do so, the product might not be released in the commercial market, which may prevent the market from growing further.
Some of the major players operating in the stearic acid market are:
• The Chemical Company
• Cayman Chemical
• VVF LLC
• U.S. Chemicals LLC
• Deeno Group
• Pacific Oleochemicals
• Parchem
• Kao Chemicals
• BASF
• Emery Oleochemicals
• AkzoNobel
• Godrej industries
• Wilmar International
• Oleon
• Merck KGaA
• Kuala Lumpur Kepong
• IOI Oleochemicals
• Procter & Gamble
Key Segments Cover in the Market:
By Type:
• Vegetable Based Raw Materials
• Animal Based Raw Material
By Application:
• Personal Care
• Rubber Processing
• Lubricants
• Soaps and Detergents
• Textile
• Plastics
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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