The global stearic acid market is expected to reach USD 13.89 billion by 2028, at a CAGR of 7.06% from 2021 to 2028. Increasing demand for stearic acid from end-use applications such as cosmetics, lubricants, and rubber & plastics is expected to drive the market growth.
Stearic acid is a saturated fatty acid with an 18-carbon chain and is available in both natural and synthetic forms. It is used as a co-surfactant, emulsifier, dispersant, and emollient in cosmetics. It is used as a lubricant in the pharmaceutical and food industries.
High demand for stearic acid from the automotive and consumer electronics industry is expected to drive the market. It is used in the manufacturing of rubber, plastic, and other components in the automotive and consumer electronics industries. It is also used as a surfactant and gelling agent in the production of soaps, detergents, and shampoos.
Asia Pacific dominated the global market with 41.35% in 2020 and is expected to retain its dominance during the forecast period. This is attributed to the high demand for stearic acid from the automotive and consumer electronics industries in the region. In addition, the increasing demand for cosmetics, soaps, and detergents in countries such as India and China is expected to drive market growth.
The key players in the global stearic acid market are Kao Corporation, Emery Oleochemicals, Evonik Industries AG, Musim Mas Holdings, and KLK OLEO. They focus on innovation and product development to maintain their market position.
For instance, in April 2018, Kao Corporation announced the launch of its new product, a stearic acid-based emulsifier, Akyposal H-20-E. This product is suitable for use in a wide range of products, such as skin care creams and lotions, hair care products, and makeup products.
Brainy Insights has segmented the global stearic acid market based on below-mentioned segments:
Global Stearic Acid Market by Feedstock:
- Animal-based Raw Materials
- Vegetable- based Raw Materials
Global Stearic Acid Market by End User:
- Personal Care
- Food & Beverages
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