Global stearic acid market is
expected to reach USD 11.01 billion by 2022, according to a new study by Grand
View Research, Inc. Increasing penetration of organic chemicals across personal
care products such as shaving creams, shampoos and soaps is expected drive the
global stearic acid market. Benefits such as enhanced shelf life, versatility,
excellent binding & thickening properties and stability, as a base for
cosmetics are anticipated to strengthen its demand over the forecast period.
Powerful surfactant and cleansing properties that assist removal of dirt and
oil in the skin are slated to fuel its demand in soaps and detergents.
Favorable regulations such as Nutritional Labeling and Education Act (NLEA) of
1990, permitting use of saturated fatty acids in food additives are also
expected to impact its demand positively. Hazards related to toxicity coupled
with volatile raw material prices are expected to remain a key challenge for
market participants.
Soaps & detergents emerged as the
largest application segment and accounted for 28.9% of the total market volume
in 2014. Growing detergents industry in emerging economies may be attributed
for high level of market penetration in the segment.
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report, click the link below:
http://www.grandviewresearch.com/industry-analysis/stearic-acid-market
http://www.grandviewresearch.com/industry-analysis/stearic-acid-market
Further key findings from the study suggest:
·
Global stearic acid demand was 5,744.3 kilo
tons in 2014 and is expected to reach 8,129.9 kilo tons by 2022, growing at a
CAGR of 4.5% from 2015 to 2022.
·
Personal care is projected to witness the
fastest growth of 5.1% over the forecast period. Growth of personal care
industry in Asia Pacific and Latin America is expected to drive this segment
over the forecast period. Surging organic personal care and cosmetic products
demand is also estimated to fuel stearic acid demand.
·
Growing application scope across various
niche segments including metal processing, candle manufacturing, and
pharmaceuticals is also expected to drive global stearic acid industry growth
in near future.
·
Asia Pacific was the largest regional
market and accounted for 42.7% of total volume in 2014. Asia Pacific stearic
acid market is characterized by rapid industrialization coupled with rising
disposable income level particularly in India, China and Indonesia. These
factors may be attributed to the rising product demand across various
application segments in the region.
·
Major companies operating in global stearic
acid market include The U.S. Chemical Company LLC., BASF, AkzoNobel, Emery
Oleochemicals, Wilmar International, Godrej Industries, Oleon, Pacific
Oleochemicals Sdn Bhd, Kao Chemicals, and Kuala Lumpur Kepong (KLK).
For the purpose of this study, Grand View
Research has segmented the stearic acid market on the basis of application and
region:
Global Stearic Acid Application Outlook (Volume, Kilo
Tons, Revenue, USD Million, 2012 - 2022)
·
Soaps & Detergents
·
Intermediates
·
Personal Care
·
Rubber Processing
·
Textile
·
Lubricants
·
Others
Global Stearic Acid Regional Outlook (Volume, Kilo Tons,
Revenue, USD Million, 2012 - 2022)
·
North America
o U.S.
·
Europe
o Germany
o UK
o France
·
Asia Pacific
o China
o India
·
Central & South America
·
Middle East & Africa
Browse Press Release of this Report: https://www.grandviewresearch.com/press-release/global-lysine-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
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