NEWARK, Del, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The metallic stearates market size is projected to be valued at US$ 2.6 Bn in 2023 and is expected to rise to US$ 4.0 Bn by 2033. The sales of metallic stearates are expected to record a significant CAGR of 4.5% during the forecast period.
The increased use of metallic stearates in numerous end use sectors is responsible for the market expansion. They are used as antistatic agents for dry impregnation in the textile sector. They serve as assist in the swelling and suspension of additives like pigments in printing ink processes.
Additionally, metallic stearates are included in cosmetics and personal care items like shampoos, eyeliners, lipsticks, sunscreen, medicinal ointments, and foot powders due to their hydrophobic qualities, which stop the goods from collecting water and clumping together.
Consumers' increased purchasing power and the general public's increasing awareness of beauty are both contributing to the market's expansion.
In addition, the top players are creating thermostable metallic stearates, which exhibit exceptional color stability in transparent or vividly colored thermoplastics processed at high temperatures.
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The use of metallic stearates in the metal processing and construction sectors is expected to increase as a result of these advances.
Key Takeaways from the Metallic Stearates
- Countries such as the United States are the global hub for the most highly valued personal care and wellness products, which would likely to lead the market towards a revenue share of US$ 761.7Mn by 2033
- With a revenue share of 41.2%, Asia Pacific was the largest geographical market in 2020. Strong economic expansion in Southeast Asia, China, and India over the past few years has increased demand for the product in a variety of applications.
- Currently, Germany holds dominance with a growth rate of 4.2% in Western Europe. The automotive and aerospace sector in Germany is constantly developing which is creating immense demands for metallic stearates.
- Zinc stearates dominated the product segment with the highest growth rate of 4.1% as in the plastic and rubber industries, they serve as lubricants and release agents.
- Additionally, magnesium stearate improves the capsule's quality. As a result, it is predicted that, among all applications, the pharmaceuticals category would hold a market share of 15.8% from 2023 to 2033.
- In terms of both volume and revenue, the plastics and polymers section became the fastest-growing (4.5%) application segment in 2020. The plastics sector primarily uses metallic stearates as lubricants, acid scavengers, and releasing agents. It is essential to the melting process as well.
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Competitive Landscape
Product expansions and distinctiveness have a favorable impact on the major players. Manufacturers prioritize creating goods with better surface characteristics. One of the main areas of emphasis for producers is the addition of stearic acid derived from vegetable oil. To gain greater participation in the value chain, companies place a strong emphasis on new product launches, capacity expansion, and collaborations.
Dover Chemical Corporation, Valtris Specialty Chemicals, Peter Greven GmbH & Co. KG, Baerlocher GmbH, Faci S.p.A, Norac Additives, Sun Ace Kakoh (Pte.) Limited, PMC Biogenix, Inc., James M. Brown Ltd., Nimbasia Stabilizers LLP, Marathwada Chemicals, Seoul Fine Chemical Ind. Co., Ltd., IRRH Specialty Chemicals India Limited, Akrochem Corporation
Latest Developments
- To distribute Synpro Metallic Stearates throughout Mexico, Kigo Chemical and Valtris Specialty Chemicals signed a distribution deal in September 2020.
- The alliance with Valtris Speciality Chemicals, a market-leading manufacturer of metal stearates and specialty additives, was announced by Ravago Chemicals North America (RCNA) in October 2020. The Life Ingredients Division's Food, Nutraceutical & Pharmaceutical (FNP) and Personal Care divisions will get the Valtris components from RCNA through its current product portfolio.
Metallic Stearates Market Segments:
Metallic Stearates by Product Type:
- Zinc Stearate
- Calcium Stearate
- Magnesium Stearate
- Aluminium Stearate
- Others (Sodium Stearate, Barium Stearate, etc.)
Metallic Stearates by Application:
- Metallic Stearates for Polymers & Plastics Industry
- Metallic Stearates for Rubber Industry
- Metallic Stearates for Pharmaceuticals Industry
- Metallic Stearates for Personal Care & Cosmetics Industry
- Metallic Stearates for Construction Industry
- Metallic Stearates for Paints & Coatings Industry
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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