Hyderabad, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Stearic acid has established itself as the key component in the production of stearates, such as sodium stearate, magnesium stearate, or calcium stearate, which is a component of personal care products. It has been used in more than 3,200 skincare and hair care products in recent times. It is used in many personal care items, including moisturizers, sunscreen, cosmetics, and baby lotion. Furthermore, Stearic acids have a dominant application in the plastic processing sector as it is widely for polyvinylchloride (PVC) plastics as a key ingredient of plasticizer, lubricant, and stabilizers.
In 2021, Asia-Pacific was the largest market and accounted for 69% of the global stearic acid market. China, India, the United States, France, and Germany constitute the largest stearic acid markets. However, emerging markets in South American countries will act as big opportunities, says Himanshu Vasisht, Senior Research Manager at Mordor Intelligence.
“As we step into the future, existing and new end-user industries are looking for harder bar of soap with a stable, creamy lather. This acid is preferred for hardening soaps high in fatty acids that would not create a hard bar on its own. Hence, the growing demand for soaps and dishwashing detergents worldwide has provided the market with a wide growth prospect. The United States, China, Japan, Germany, India, France, and Indonesia were among the top ten revenue generators for dishwashing detergent production in 2022”.
Himanshu believes, the rise in demand in the use of plastic products such as PVC plastic pipes, sheets, profiles, and films will create a lucrative growth for chemicals like stearic acid as PVC heat stabilizer with excellent lubricity and good light and heat stability.
Furthermore, stearic acid brings unique solutions to rubber processing. Several rubber processing plants are interested in using C18 grade triple pressed stearic acid (TPSA) and rubber grade stearic acid (RGSA). Hence, the manufacturing of automobile components has provided lucrative growth to the market. This acid can be used in the overall production processing owing to its characteristic as an activator, accelerator, internal lubricant, and surface lubricant in rubber processing
This will create scope for new factory setups and expansion of existing facilities to grab growth opportunities in plastic processing, rubber processing, personal care, and textile markets.
The existing players in recent years are looking forward to strengthening their market position through expansion and acquiring other players in the market. For instance, Biosynthetic Technologies acquired Innoleo, LLC, a privately-held company and a producer of Stearic acid among another comprehensive line of castor and other oleo derivatives products.
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Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics. Get a glance at the Stearic Acid Market Report or ask for a more customised report.
