Stearic acid, even known as octadecanoic acid, is used in a variety of industries, including the food, cosmetic, rubber, and pharmaceutical industries. Stearic acid, which is generated from palm oil, corn, and other sources, is water insoluble. It is also utilized in the manufacturing of soap, shampoos, and candles. It is used to coat metal powders like aluminum and iron to lengthen their shelf lives.
COVID-19 Impact Analysis
- COVID-19 had a negative impact on the market in 2020. Internal lubrication and adhesion are achieved with stearic acid in rubber production. As a result of the pandemic, several countries were compelled to go into lockdown, causing the automobile sector to reduce its consumption of materials such as rubber, lowering demand for stearic acid. However, in the current situation, there is a greater awareness of personal hygiene and a clean environment, which has boosted demand for stearic acid-based personal care and household cleaning products, boosting demand for stearic acid.
- The market is likely to increase in the short term due to rise in demand for personal care products, the rapid growth of the cleansers and detergents industry, and the increase in use of stearic acid in lead-acid batteries.
- However, fluctuating raw material prices are projected to stymie the market's expansion.
- In the upcoming years, advancements in sunflower oil with high stearic and oleic acids are projected to generate prospects for the market.
Top Impacting Factors
The growth in demand for intermediates and additives in various industries around the world is likely to propel the global market forward during the forecast period. In addition, rise in stearic acid adoption in the vehicle industry is predicted to boost the target market's growth.
In addition, increased consumer awareness of personal health and hygiene is likely to fuel market expansion. Stearic acid's increasing application for metal cleaning and candle making is also predicted to boost the global market's growth in the near future.
However, stearic acids have limited water solubility, resulting in a residue film on the skin, which is projected to limit worldwide market growth over the projection period. Furthermore, fluctuating raw material prices are another issue that is predicted to stymie the target market's expansion in the near future.
Stearic acid is increasingly being used in lead-acid batteries around the world, according to a current trend in the target market. Increased R&D activities and investments in the cosmetics industry for the development of innovative goods are projected to provide profitable prospects for manufacturers in the target market.
Demand from the Personal Care Industry has Grown
- After hydrogenation, stearic acids are fatty acids generated from animal or vegetable fat oils. It is widely utilized as a surfactant and emulsifying agent in the personal care and cosmetics industries.
- Stearic acid is commonly used to make stearates like sodium stearate, magnesium stearate, or calcium stearate, which are utilized in personal care products. In recent years, it has been found in over 3,200 skincare and hair care products.
- Furthermore, rise in knowledge of personal health and cleanliness, as well as surge in beauty consciousness, are predicted to boost stearic acid demand.
The market is expected to be dominated by Asia-Pacific
- Due to expansion in urbanization and increase in the population of the younger generation in countries like India and other developing nations, Asia-Pacific was the biggest consumer of cosmetics and personal care goods.
- Stearic acid can be found in a variety of soaps and detergents. It primarily serves as a thickening and hardener, assisting the soap bars in maintaining their shape. The ability of soap particles to bind to dirt particles and loosen them so that they can be washed away with water is due to stearic acid. The detergent and cosmetics industries are predicted to account for the majority of stearic acid use in the region.
- Leading global corporations based in the region, such as L'Oreal, Procter & Gamble, Unilever, and others, are supporting the market.
- The market for stearic acid in the area is predicted to increase at a substantial rate during the forecast period, thanks to different R&D, expansions, and investments in cosmetic products.
Key Benefits of the Report
- This study presents the analytical depiction of the stearic acid industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the stearic acid market share.
- The current market is quantitatively analyzed to highlight the stearic acid market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed stearic acid market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Stearic Acid Market Research Report
- Which are the leading players active in the ‘stearic acid market’?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “stearic acid market“prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "stearic acid market’?
Stearic Acid Market Report Highlights
Key Market Players
Kao Corporation, Godrej Industries Limited, etc., Wilmar International Limited, Pacific Oleochemicals SdnBhd, Emery Oleochemicals Group, BASF SE, Kerax Limited