The increasing scope of application in the personal care products industry is one of the most dominant factors propelling the development in the global stearyl alcohol market. The products and solutions offered by the manufacturers and vendors in the global stearyl alcohol market find applications in cosmetics and personal care products, such as skin cleansers, foundations, lubricants, eye makeup products, resins, and perfumes, among others. The rising per capita disposable income, in both developing as well as developed economies is fostering the high rate of adopting various novel personal care as well as beauty products. This trend is anticipated to further the expansion of the global stearyl alcohol market in coming years.
The products and solutions offered by the manufacturers and players working in the global stearyl alcohol market find applications in various end use industries, including pharmaceuticals, automotive and transportation, food and beverages, and cosmetics and personal care, among others. Some of the most distinct applications for the products and solutions in the global stearyl alcohol market include fragrance ingredient, foam booster, emollient, emulsion stabilizer, emulsifying agent, and viscosity modifier, among others. The participants in the global stearyl alcohol market offer the solutions in the industry based on their grade, including high purity grade products as well as regular grade products.
High Demand from Automotive Industry also bolsters Growth in Stearyl Alcohol Market
One of the most significant industry that contributes heavily to the development of the global stearyl alcohol market in terms of demand in automotive industry. The products and solutions in the global stearyl alcohol market are used in the automotive industry as excellent industrial grade lubricants. Additionally, the fast paced industrialization as well as the constantly rising number of automotive vehicles around the globe are also supplementing the development of the global stearyl alcohol market. The products and solutions in the global stearyl alcohol market have also gained acceptance as both indirect as well as direct food additive ingredient by the FDA or Food and Drug Association of the United States and the CIR or Cosmetics Ingredient Review Expert Panel.
The increasing adoption of alternative chemicals, for instance, cetyl alcohol, may hinder the growth potential of the global stearyl alcohol market in coming years. This trend is also bolstered by the rising usage as well as consumer demand for naturally sourced products as well as chemical free and clean label products in the cosmetics as well as personal care industries. However, the rising usage of the products in the global stearyl alcohol market as rheology modifiers in the domain of pharmaceutical industry is most likely to provide attractive development opportunities for the industry stakeholders and players
Lucrative Opportunities in Stearyl Alcohol Market from Developing Economies in Asia Pacific
The geographical segments of Europe as well as North America led the global stearyl alcohol market in recent past. These two regions combined comprise of almost half of the entire global stearyl alcohol market’s stake. The increase in the demand for various novel and innovative personal care as well as beauty and cosmetic products is one of the strongest growth motivators for the global stearyl alcohol market in both of these regions. Elsewhere, the increasing disposable income in developing economies, such as India, Malaysia, Indonesia, Philippines, and Thailand, is anticipated to fuel the development of the global stearyl alcohol market in Asia Pacific region in coming years.
Featuring a fragmented competitive landscape, the scenario of the global stearyl alcohol market displays intense competition amongst the multinational and prominent manufacturers and players. Some of the major incumbent manufacturers and vendors operational in the landscape of the global stearyl alcohol market include Triveni Chemicals, Merck KGaA, Berg + Schmidt GmbH & Co. KG, Sinarmas Cepsa Pte Ltd., New Japan Chemical Co., Ltd., among Kokyu Alcohol Kogyo Co., Ltd., among others. The fierce competitiveness of the manufacturers and stakeholders working in the global stearyl alcohol market has led to a stark increase in the rate of new product launches as well as product innovation in the industry in recent past.