Global stearic acid market was valued at around $ 8.47 billion in 2018 and is projected to reach nearly $ 11.5 billion by 2024. Rising awareness among consumers about benefits of personal care products is resulting in higher usage of cosmetics and personal care products, which is anticipated to drive global stearic acid market. Stearic acid is a waxy solid, saturated fatty acid that is derived from animal fat and vegetable oils. Stearic acid market is gaining momentum owing to powerful cleansing and surfactant properties that facilitate removal of oil and dirt in the skin. In addition, the growing utilization of stearic acid in various industries including, automotive, construction and cleaners are likely to boost the growth of the stearic acid market over the forecast period. Growing demand for sustainable and biodegradable products due to decreasing petrochemical dependence is expected to remain a key driving factor in the stearic acid market.
The market for stearic acid has been segmented into type, end use, distribution channel and region. Among types, vegetable-based segment is anticipated to lead global stearic acid market. Based on application, the market is categorized into Soaps & Detergents, Personal Care, Textiles, Lubricants, Rubber Processing and Others (Pharmaceutical, Automotive, Plastics, etc.). Soaps & Detergent segment holds the maximum share in the global stearic acid market backed by rising preference for naturally produced stearic acid as a raw material in soaps and detergents production owing to their competitive prices and no harmful and allergic effects on humans.
Based on distribution channel, the market is bifurcated in direct sales and distributors sales. In 2018, distributors sales held the maximum share in the global stearic acid market. However, direct sales of stearic acid are expected to increase during the forecast period, backed by stearic acid manufacturers’ focus on maintaining and retaining clients in the long run. Regionally, Asia- Pacific is the largest consumer of stearic acid globally owing to increasing investment in major downstream sector such as chemicals, automotive, textiles, pharma & biotechnology, etc.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast global stearic acid market size.
- To forecast global stearic acid market based on type, end use, distribution and region.
- To identify drivers, challenges and trends global stearic acid market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global stearic acid market.
- To conduct pricing analysis for global stearic acid market.
- To identify and analyze the profile of leading players involved in the manufacturing of stearic acid.
Some of the leading players in Global stearic acid market are VVF (Global) Limited, Akzo Nobel Oleo Chemicals, Emery Oleochemicals, Proctor & Gamble Chemicals, PMC Biogenix, Twin Rivers, Kao Chemicals, among others.
Key Target Audience:
- Stearic acid manufacturers, exporters, importers, suppliers and other stakeholders
- Organizations, forums and alliances related to stearic acid market
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global stearic acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Vegetable based
- Animal based
- Soaps & Detergents
- Rubber Processing
- Personal Care
- Asia- Pacific
- North America
- South America
- Middle East & Africa