The stearic acid from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Stearic Acid Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The stearic acid market size has grown strongly in recent years. It will grow from $32.80 billion in 2023 to $35.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to growing demand in personal care products, increasing use in food industry, growing construction industry, rise in automotive industry, and growing demand in metal cleaning.
The stearic acid market size is expected to see strong growth in the next few years. It will grow to $49.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing use in candle manufacturing, growing demand in pharmaceuticals, increasing use in cosmetics, growing demand in food packaging, and increasing use in textile industry. Major trends in the forecast period include shift towards sustainable and bio-based products, rising popularity of natural and organic personal care products, development of stearic acid-based biodegradable plastics, and enhanced focus on eco-friendly packaging materials.
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Scope Of Stearic Acid Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Stearic Acid Market Overview
Market Drivers –
The increasing need for personal care products is expected to propel the growth of the stearic acid market going forward. Personal care products encompass items used for hygiene, grooming, and beautification, including skincare, haircare, oral care, and cosmetics. The increasing need for personal care products is attributed to rising consumer awareness about personal hygiene and grooming, growing disposable incomes, urbanization, and the influence of social media and beauty trends. Stearic acid plays a crucial role in cosmetics by enhancing product stability, texture, and performance. Its emulsifying, thickening, and conditioning properties make it valuable in various skincare, haircare, and personal care products. For instance, in September 2023, according to the Bureau of Labor Statistics, a US-based government agency, personal care products and services increased by 12.3% in 2022 from 19.3% in 2021. Therefore, the increasing need for personal care products drives the stearic acid market.
Market Trends –
Major companies operating in the stearic acid market are focused on developing innovative products, such as non-ionic surfactants, to enhance the performance of personal care and cleaning products. Non-ionic surfactants derived from stearic acid offer excellent emulsifying, foaming, and cleansing properties, making them ideal for use in formulations of shampoos, soaps, detergents, and cosmetics. For instance, in January 2024, Ataman Kimya, a Turkey-based chemical manufacturing company, launched PEG-20 Stearate, a non-ionic surfactant used in cosmetics and personal care products for its emulsifying and solubilizing properties. It enhances the texture and stability of formulations, providing a smooth and consistent feel. PEG-20 Stearate is a reliable emulsifier that stabilizes water and oil blends in cosmetic formulations. Its utility extends notably to hand and body lotions and creams, and it is also featured in select cleansing products designed to cleanse the skin of impurities. PEG-20 Stearate finds application across a spectrum of cosmetic and personal care items, including moisturizing creams, lotions, sunscreens, and various skincare preparations.
The stearic acid market covered in this report is segmented –
1) By Feedstock: Animal-Based Raw Materials, Vegetable-Based Raw Materials
2) By Sales Channel: Direct Sales, Indirect Sales
3) By End-Use Industry: Agriculture, Automotive, Textiles, Healthcare, Food And Beverages, Personal Care, Other End-Use Industries
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Regional Insights –
Asia-Pacific was the largest region in the stearic acid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stearic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the stearic acid market are Cargill Incorporated, BASF SE, Procter & Gamble, Wilmar International Ltd., Evonik Industries AG , kao Corporation , Musim Mas Group, Stepan Company, Croda International Plc, KLK Oleo, Sinarmas Cepsa Pte. Ltd., Vantage Specialty Chemicals, Godrej Industries Limited, New Japan Chemical Co. Ltd., Oleon NV, Emery Oleochemicals, Spectrum Chemical, Cayman Chemical, Stearinerie Dubois, The Chemical Company, Lascaray S.A., IOI Oleochemical, Acme Synthetic Chemicals, ATAMAN KİMYA, Zanyu Technology Group Co. Ltd.
Table of Contents
1. Executive Summary
2. Stearic Acid Market Report Structure
3. Stearic Acid Market Trends And Strategies
4. Stearic Acid Market – Macro Economic Scenario
5. Stearic Acid Market Size And Growth
…..
27. Stearic Acid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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