Sarasota, FL, Jan. 30, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Stearic Acid Market for Lubricants, Personal Care, Fuel Additives, Rubber Processing, Soaps & Detergents and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, the global stearic acid market was valued at USD 7.30 billion in 2016 and is expected to reach USD 9.47 billion by 2022, growing at a CAGR of 4.9% between 2017 and 2022.
Stearic acid is a saturated fatty acid. It is derived from fats containing carbon and methyl chains. It has solid wax structure and can be available in form of ester and salts. It can be naturally found in animals and vegetable fats and also derived chemically through saponification method. It is also known as octadecanoic acid. It is extensively used as additives in food industries and also utilized in various sectors such as cosmetics, pharmaceuticals, chemicals, adhesives, lubricants, paints, and coatings, etc.
Browse through 51 Tables & 39 Figures spread over 110 Pages and in-depth TOC on "Global Stearic Acid Market Research Report 2016: Industry Share, Trends Analysis & Forecast, and 2016-2024”.
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The global stearic acid market is primarily driven by growing demand for intermediates and additives applications in numerous industries across the globe. Moreover, changing trends and growing developments in food and personal care industry is likely to fuel the growth of the stearic acid market in the near future. Rising demand for stearic acid in an automobile is also another driving factor that is expected to boom the market size during the next few years. However, fluctuating prices of raw material may slow down the growth of the market. Nonetheless, emerging market in developing countries is likely to set new wings to the global stearic acid market during the years to come.
Lubricants, personal care, fuel additives, rubber processing, soaps & detergents are the major applications of the global stearic acid market. Soaps & detergents led the global stearic acid market in 2016. It held more than 26% share of the total market of stearic acid in 2016 and this trend is predicted to continue over the next few years. Moreover, personal care industry is predicted to experience the fastest growth of the market within the forecast period. Additionally, rubber processing is likely to exhibit a strong growth in the coming years. Comparatively, lubricants and fuel additives are projected to witness the moderate growth over the coming years.
Browse the full " Stearic Acid Market for Lubricants, Personal Care, Fuel Additives, Rubber Processing, Soaps & Detergents and Other Applications: Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/stearic-acid-market
North America held the second largest share of the market of stearic acid in 2016. The U.S. waThe s the major contributor to the market in the region in 2016. Growing demand for personal care products is a major driving force of the market in the region. Moreover, rapidly growing robust demand for biofuels in aviation and the automotive industry is likely to propel the production of stearic acid over the forthcoming years.
European market of stearic acid is projected to witness the exponential growth in the coming years. From past few years, Germany, France, and Italy are the three major contributors to the stearic acid market. Expanding demand for confectionaries and convenience food along with the surging demand for personal care products such as shampoos, lotion, and creams among consumers is likely to bolster the market of stearic acid in the region in the near future.
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The Asia Pacific was the largest market of stearic acid in 2016. Furthermore, it is expected to be the fastest growing market within the forecast period. This growth is attributed to the various parameters such as growing globalization, growing disposable incomes, emerging industrialization and changing the lifestyle of the individuals of the Asian countries. Moreover, emerging untapped market along with the strong support from the international companies and players is likely to set new opportunities in the region during the years to come.
Latin America is expected to experience the remarkable growth of the market in the coming years. The major countries such as Brazil, Argentina, and Columbia are expected to contribute the strong emergence of automotive industry in the region over the next few years. The major vehicle-producing nation in the Latin American region is Brazil. This growth can mainly be attributed to the growth in demand for fuel additives and lubricants in the region. In addition, the Middle East and Africa are poised to witness decent growth in demand for stearic acid within the forecast period. Emerging automotive industry in the region may offer the moderate demand for stearic acid in the region during the coming years.
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The major players of the global stearic acid include Wilmar international, U.S chemical company, BASF, Kao Chemicals, P&G, Oleon, AkzoNobel, Godrej, PT.Cisadane Raya Chemicals, Acme Synthetic Chemicals, Protea Chemicals, Nimir Industrial Chemicals Limited, and VVF LLC among others.
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The report segments the global stearic acid market as follows:
Global Stearic Acid Market: Application Analysis
- Lubricants
- Personal Care
- Fuel Additives
- Rubber Processing
- Soaps & Detergents
- Others
Global Stearic Acid Market: Regional Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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