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.
Full Research Report On stearic acid market Analysis:
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).
View More Reports Of This Category By Grand View Research
At: https://www.grandviewresearch.com/industry/renewable-chemicals
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
View Press
Release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-stearic-acid-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: www.grandviewresearch.com
For More Information: www.grandviewresearch.com