Croda International Plc
Akzo Nobel N.V.
Wilmar International Ltd
Pacific Oleochemicals Sdn Bhd
Kaula Lumpur Kepong Berhad
Procter and Gamble
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Stearic Acid is a saturated fatty acid found in various animal and plant fats. It is used in various applications such as skin & hair care products, detergents & soaps, pharmaceuticals, food products, textile sizing, agrochemicals, and rubber processing. Stearic acid cosmetics products owing to its ability to lower the surface tensions of oils and keep the products potent if stored for longer period. Due to its emulsifying property, it is vastly preferred in the personal care products. The product use in the detergents and soaps is increasing owing to strong surfactants and cleansing properties. Rising demand for the stearic acid in the textile industry for softening the fabric is driving the market growth. Growing healthcare industry is fuelling the product demand for nutritional supplements and reducing visceral fat & inflammation. It is increasingly used in the pharmaceuticals in the tablets, ointments, and suppositories. Stearic acid density finds application in the candles in place of paraffin as hardener substance when mixed with sugar and corn syrup. The product consumption in agrochemicals as fungicides, reactive intermediaries, and to enhance viscosity is propelling the market growth.
The Global Stearic Acid Market is segmented into applications, and end use industry, and region.
On the basis of application, the global stearic acid market is divided into cosmetics & personal care, detergents & soaps, food products, pharmaceuticals, textile sizing, rubber processing, agrochemicals, and others.
Based on the end use industry, the global stearic acid market is segmented into personal care, food and beverages, healthcare, textile, automotive, agriculture, and others
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Geographically, the global stearic acid market structure is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia Pacific accounted for the largest market share in 2017 and is expected to grow at a staggering rate owing to growing personal care industry in this region. Increasing demand for the cosmetics and skin care products coupled with rising disposable income is driving the growth of stearic acid market. Growing cosmetic and personal care industry in Japan as a result of rising demand for age specific beauty products is expected to propel the market growth. The stearic acid market is anticipated to grow rapidly in India and China due to the enlarging use of specialized skin care and make up cosmetics. Furthermore, increasing spending on the cosmetic products for self-grooming is another important driving factor for the market growth. Growing healthcare industry as a result of rising health awareness among the consumers about nutritious supplements is fueling the product demand. Moreover, according to the Indian Brand Equity Foundation, Indian healthcare sector is expected to grow from USD 110 billion in 2016 to USD 372 billion in 2022. Rapidly expanding textile industry in India and China are complementing the stearic market growth in the region. The product use is heaping up in the textile industry due to its fabric softening properties. Flourishing automotive industry is stimulating the product demand further with respect to increasing spending on vehicles.
North America is another prominent market for the stearic acid owing to the prevalence of the major players such as L’Oreal, Unilever, and Procter & Gamble are propelling the market demand in this region. Furthermore, growing healthcare industry in this region is powering the product demand owing to increased spending on the healthcare by the consumers.
Europe is expected to drive the market by virtue of growing personal care industry especially in the UK, Italy, Germany, and France in this region. Increasing demand from the healthcare industry owing to the rising geriatric population is impelling the market growth.