San Francisco, United States, 2019-Aug-16 —
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.
To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/stearic-acid-market
U.S. 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).
Related Reports on Food Additives & Nutricosmetics:
Gum Rosin Market
Personal Care Specialty Ingredients Market
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
U.S.
Europe
Germany
UK
France
Asia Pacific
China
India
Central & South America
Middle East & Africa
For 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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
For More Info: www.grandviewresearch.com
