The stearic acid market is anticipated to record a CAGR of 7.6% during the forecast period, up from US$ 33 Billion in 2021 to reach a valuation of US$ 50 Billion by 2026.
The team of researchers at Future Business Insights are focusing on research and market study to produce different Stearic Acid Market forecasts and predictions at both national and international levels. They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Stearic Acid Market.
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Sales of stearic acid are expected to rise as the consciousness regarding personal hygiene and clean surroundings has increased in the current situation.
And the same has stimulated the demand for stearic acid and stearic-based personal care, thus spiking the
In addition, the production of candles to harden the wax and strengthen the candle is one of the most popular uses of stearic acid, which likely drives up the demand for stearic acid.
Furthermore, preventing oxidization is another key use of stearic acid, and sales of stearic acid rise as it greatly helps in coating metal powders such as sales of stearic acid. iron and aluminum, used in fireworks that make it possible to store them for a longer period.
The demand for stearic acid in cosmetic and detergent applications is expected to grow due to its powerful cleansing and surfactant properties, which make it easier to remove oil and dirt from the skin.
In the coming years, high demand for soaps and detergents is expected to boost the sales of stearic acid as well as stearic acid market share.
Stearic Acid Market Segmentation:
On the basis of application stearic acid market is segmented into the personal care industry, food industry, pharmaceutical & biomedical science industry, and industrial uses (use in rubber, textile and metal).
The personal care segment holds the highest stearic acid market share owing to its strong surfactant and cleansing properties accounting for around one-third of the stearic acid market share in terms of value.
The geographically stearic acid market is segmented into North America, Latin America, Eastern Europe, Western Europe, the Asia Pacific, excluding Japan, Japan, and Middle East & Africa.
The regions such as Asia Pacific, Africa, and Latin America are predicted to witness high demand for stearic acid since personal care and industrial growth are very high.
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Few Key Players in the Stearic Acid Market
P&G Chemicals, the Chemical Company, BASF SE, AkzoNobel N.V., Kao Corporation, VVF LLC, and Godrej Industries constitute a set of major players in the stearic acid market.
In addition, there are small players involved in the manufacturing of stearic acid spread across various geographies.
Mergers and acquisitions, as well as joint ventures, are ongoing strategic collaborations among industry participants (JVs) in order to enlarge their stearic acid market share.
One of the recent developments in the stearic acid market is when Biosynthetic Technologies has acquired Innoleo, LLC, a privately held company that produces Stearic acid as well as a broad range of castor and other oleo derivatives.
Key Segments
By Feedstock:
- Animal-based Raw Materials
- Vegetable-based Raw Materials
By Application:
- Soaps and Detergents
- Personal Care
- Textiles
- Lubricants
- Rubber Processing
- Other Applications
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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