Stearic Acid Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Type (Animal-based Raw Materials and Vegetable-based Raw Materials), by Application (Soaps & Detergents, Personal Care, Textiles, Lubricants, Rubber Processing, and Others), and Geography

Market Snapshot

Market Summary - Stearic Acid
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for stearic acid is expected to grow at a CAGR of more than 5% during the forecast period of 2019 – 2024. Major factors driving the market studied are the increasing need for personal care products and the rising application in lead-acid batteries. However, fluctuating prices of raw materials is expected to hinder the growth of the market studied.

  • Personal care industry dominated the market in 2018 and is expected to grow during the forecast period owing to the increasing oil and gas activities across the world.
  • Advancement in sunflower oil varieties containing high stearic and oleic acids is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.

Scope of the Report

The stearic acid market report includes:

Feedstock
Animal-based Raw Materials
Vegetable-based Raw Materials
Application
Soaps and Detergents
Textiles
Lubricants
Personal Care
Rubber Processing
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from Personal Care Industry

  • Stearic acids are fatty acids that are derived from animal or vegetable fat oils after hydrogenation. It is widely used in the personal care and cosmetics industry as a surfactant and emulsifying agent.
  • Stearic acid is generally used for the production of stearates, such as sodium stearate, magnesium stearate or calcium stearate, which is a component of personal care products. It is used in more than 3200 skincare and hair care products in recent times.
  • Stearic acid has large number of applications in the soaps & detergent. It primarily fulfils the role of a thickener and a hardener, which helps the soap bar to retain its shape. It is because of stearic acid that soap particles are able to attach to dirt particles, loosening them so that they can be washed away with water.
  • Furthermore, the growing awareness for personal health and hygiene along with increasing beauty consciousness is expected to drive the demand for stearic acid over the forecast period.
Segmentation - Stearic Acid Market

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Asia-Pacific Region to Dominate the Market

  • The detergent and cosmetics industry is expected to contribute majorly in the use of stearic acid in the region.
  • The market is supported by the leading global giants situated in the region, such as L’Oreal, Procter & Gamble, Henkel, Unilever, and more.
  • These companies are likely to expand production with growing needs and demand for cosmetics and detergents. The strong and robust cosmetics industry is driven by cutting edge in innovation and creativity.
  • With the various R&D, expansions and investments in cosmetic products, the market for stearic acid is expected to grow at a significant rate in the region, during the forecast period.
Regional - Stearic Acid Market

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Competitive Landscape

The global stearic acid market is highly fragmented with top 5 players accounting for less than 15% of the market. The major companies include IOI Oleochemicals, Pacific Oleochemicals Sdn Bhd, Emery Oleochemicals, Procter & Gamble, and Merck KGaA.

Major Players

  1. IOI Oleochemicals
  2. Pacific Oleochemicals Sdn Bhd
  3. Emery Oleochemicals
  4. Procter & Gamble
  5. Merck KGaA

* Complete list of players covered available in the table of contents below

Market Concentration - Stearic Acid

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Need for Personal Care Products

      2. 4.1.2 Rising Application in Lead-acid Batteries

    2. 4.2 Restraints

      1. 4.2.1 Fluctuating Prices of Raw Materials

      2. 4.2.2 Carcinogen Effect in High Concentrations

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Feedstock

      1. 5.1.1 Animal-based Raw Materials

      2. 5.1.2 Vegetable-based Raw Materials

    2. 5.2 Application

      1. 5.2.1 Soaps and Detergents

      2. 5.2.2 Textiles

      3. 5.2.3 Lubricants

      4. 5.2.4 Personal Care

      5. 5.2.5 Rubber Processing

      6. 5.2.6 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 IOI Oleochemicals

      2. 6.4.2 Kuala Lumpur Kepong (KLK)

      3. 6.4.3 PT.SUMI ASIH

      4. 6.4.4 PT.Cisadane Raya Chemicals

      5. 6.4.5 Pacific Oleo

      6. 6.4.6 Taiko

      7. 6.4.7 VVF LLC

      8. 6.4.8 Emery Oleochemicals

      9. 6.4.9 Acme Synthetic Chemicals

      10. 6.4.10 Acme-Hardesty Paras Polymer and Chemicals

      11. 6.4.11 New Japan Chemical Co. Ltd

      12. 6.4.12 Nimir Industrial Chemicals Limited

      13. 6.4.13 Chant Oil Co. Ltd

      14. 6.4.14 Protea Chemicals

      15. 6.4.15 3F Industries Ltd

      16. 6.4.16 The Chemical Company

      17. 6.4.17 Rugao City Shuangma Chemical Co. Ltd

      18. 6.4.18 Dongma

      19. 6.4.19 Ruixing

      20. 6.4.20 P&G

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Advancement in Sunflower Oil Varieties Containing High Stearic and Oleic Acids

**Subject to Availability

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