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Stearic Acid Market - Global Industry Analysis

Stearic Acid Market For Lubricants, Personal Care, Fuel Additives, Rubber Processing, Soaps & Detergents And Other Applications: Global Market Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Published Date: 17-Aug-2021 Category: Chemical & Materials Report Format : PDF Pages: 190 Report Code: ZMR-2551 Status : Published

The Global Stearic Acid Market was accounted for USD 8.75 Billion in 2020 and is expected to reach USD 11.64 Billion by 2028, growing at a CAGR of around 3.6% between 2021 and 2028.

Description

Market Overview     

The Global Stearic Acid Market was accounted for USD 8.75 Billion in 2020 and is expected to reach USD 11.64 Billion by 2028, growing at a CAGR of around 3.6% between 2021 and 2028.    

Stearic acid may be a saturated carboxylic acid is derived from fats containing carbon and methyl chains. It's a solid wax structure and may be available in sort of ester and salts. It is often naturally found in animal and vegetable fats and is also derived chemically through the saponification method. it's also referred to as stearic acid. It's extensively used as additives in food industries and also utilized in various sectors like cosmetics, chemicals, adhesives, lubricants, paints, pharmaceuticals, and coatings, etc. Rising demand for stearic acid in an automobile is also another factor driving the market size during the next few years. However, fluctuating prices of raw materials may slow down the growth of the market. Nonetheless, emerging market in developing countries is likely to set new wings to the global stearic acid market during the years to come.

Stearic Acid Market Size

COVID-19 Impact Analysis

The COVID-19 outbreak has hit industries hard which could stall development in emerging markets. Stearic acid is used in rubber processing for internal lubrication and adhesion. Several countries were forced to travel in lockdown owing to the pandemic scenario, which led the automotive industry to attenuate the consumption of materials like rubber, thus negatively impacting the demand for the stearic acid market. However, the consciousness regarding personal hygiene and clean surrounding has increased within the current situation, which has stimulated the demand for stearic acid-based care and household cleaning products, thus enhancing the market demand for steraic acid.

Growth Factors

The global stearic acid market is primarily driven by growing demand for intermediates and additives applications in various industries and personal care products such as personal care products including shampoos, shaving creams, and soaps across the globe. Moreover, changing trends and growing developments in the food and personal care industry are likely to fuel the growth of the stearic acid market shortly. Growing investment for the development of innovative products by major vendors is further boosting the market growth.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Application Segment Analysis Preview   

Lubricants, fuel additives, rubber processing, personal care, soaps & detergents are the major applications of the global stearic acid market. Soaps & detergents led the global stearic acid market in 2018. It held more than 25% share of the total market of stearic acid in 2018 and is predicted to continue over the next few years. Moreover, the personal care industry is predicted to experience the fastest growth of the market within the forecast period. Additionally, rubber processing is likely to exhibit strong growth in the coming years. Comparatively, lubricants and fuel additives are projected to witness moderate growth over the coming years.

Stearic Acid Market Share

Regional Segment Analysis Preview   

The Asia Pacific was the foremost attractive marketplace for stearic acid in 2018. Furthermore, it's anticipated to continue its dominance over the worldwide stearic acid market within the forecast period. On-going research and development including the growing automotive industry within the region are likely to grow the market size at a robust CAGR during the longer-term years within the Asia Pacific. Additionally, Asia Pacific was followed by North America and Europe within the same year. Latin America and Middle East & Africa are expected to witness the lucrative growth of the market due to the emerging food and automotive industries in these regions during the estimated years.

Key Market Players & Competitive Landscape

The major players of the global stearic acid include Wilmar international, U.S chemical company, BASF, Kao Chemicals, P&G, Oleon, AkzoNobel, Godrej, PT. Cisadane Raya Chemicals, Acme Synthetic Chemicals, Protea Chemicals, Nimir Industrial Chemicals Limited, and VVF LLC among others. 

Stearic Acid Market Regional Analysis

The global Stearic Acid Market is segmented as follows:

By Application

  • Lubricants
  • Personal Care
  • Fuel Additives
  • Rubber Processing
  • Soaps & Detergents
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1: Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2: Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Application
        • 2.1.1.2. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Stearic Acid Market , 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3: COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4: Stearic Acid Market – Application Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 4.2. Lubricants
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Personal Care
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Fuel Additives
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Rubber Processing
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Soaps & Detergent
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Others
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5: Stearic Acid Market – Region Segment Analysis
    • 5.1. Overview
      • 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 5.2. North America
      • 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.2.2. North America Market Revenue, By Application, 2016 – 2028
      • 5.2.5. U.S.
        • 5.2.5.1. U.S. Market Revenue, By Application, 2016 – 2028
      • 5.2.6. Canada
        • 5.2.6.1. Canada Market Revenue, By Application, 2016 – 2028
      • 5.2.7. Mexico
        • 5.2.7.1. Mexico Market Revenue, By Application, 2016 – 2028
    • 5.3. Europe
      • 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.3.2. Europe Market Revenue, By Application, 2016 – 2028
      • 5.3.5. Germany
        • 5.3.5.1. Germany Market Revenue, By Application, 2016 – 2028
      • 5.3.6. France
        • 5.3.6.1. France Market Revenue, By Application, 2016 – 2028
      • 5.3.7. U.K.
        • 5.3.7.1. U.K. Market Revenue, By Application, 2016 – 2028
      • 5.3.8. Italy
        • 5.3.8.1. Italy Market Revenue, By Application, 2016 – 2028
      • 5.3.9. Spain
        • 5.3.9.1. Spain Market Revenue, By Application, 2016 – 2028
      • 5.3.10. Rest of Europe
        • 5.3.10.1. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 5.4. Asia Pacific
      • 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.4.2. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 5.4.5. China
        • 5.4.5.1. China Market Revenue, By Application, 2016 – 2028
      • 5.4.6. Japan
        • 5.4.6.1. Japan Market Revenue, By Application, 2016 – 2028
      • 5.4.7. India
        • 5.4.7.1. India Market Revenue, By Application, 2016 – 2028
      • 5.4.8. South Korea
        • 5.4.8.1. South Korea Market Revenue, By Application, 2016 – 2028
      • 5.4.9. South-East Asia
        • 5.4.9.1. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 5.4.10. Rest of Asia Pacific
        • 5.4.10.1. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 5.5. Latin America
      • 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.5.2. Latin America Market Revenue, By Application, 2016 – 2028
      • 5.5.5. Brazil
        • 5.5.5.1. Brazil Market Revenue, By Application, 2016 – 2028
      • 5.5.6. Argentina
        • 5.5.6.1. Argentina Market Revenue, By Application, 2016 – 2028
      • 5.5.7. Rest of Latin America
        • 5.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 20285
    • 5.6. The Middle-East and Africa
      • 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.6.2. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 5.6.5. GCC Countries
        • 5.6.5.1. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 5.6.6. South Africa
        • 5.6.6.1. South Africa Market Revenue, By Application, 2016 – 2028
      • 5.6.7. Rest of Middle-East Africa
        • 5.6.7.1. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 6: Stearic Acid Market – Industry Analysis
    • 6.1. Introduction
    • 6.2. Market Drivers
      • 6.2.1. Driving Factor 1 Analysis
      • 6.2.2. Driving Factor 2 Analysis
    • 6.3. Market Restraints
      • 6.3.1. Restraining Factor Analysis
    • 6.4. Market Opportunities
      • 6.4.1. Market Opportunity Analysis
    • 6.5. Porter’s Five Forces Analysis
    • 6.6. PEST Analysis
    • 6.7. Regulatory Landscape
    • 6.8. Technology Landscape
    • 6.9. Regional Market Trends
      • 6.9.1. North America
      • 6.9.2. Europe
      • 6.9.3. Asia Pacific
      • 6.9.4. Latin America
      • 6.9.5. The Middle-East and Africa
    • 6.10. Pricing Analysis
    • 6.11. Value Chain Analysis
    • 6.12. Downstream Buyers
    • 6.13. Distributors/Traders List
  • Chapter No. 7: Competitive Landscape
    • 7.1. Company Market Share Analysis – 2019
      • 7.1.1. Global Stearic Acid Market : Company Market Share, 2019
      • 7.1.2. Global Stearic Acid Market , Company Market Revenue, 2016 – 2019 (USD Billion)
      • 7.1.3. Global Stearic Acid Market , Company Y-o-Y Growth, 2017 – 2028 (%)
      • 7.1.4. Global Stearic Acid Market : Radar Determinant Chart, 2019
    • 7.2. Strategic Developments
      • 7.2.1. Acquisitions & Mergers
      • 7.2.2. New Product Launch
      • 7.2.3. Regional Expansion
    • 7.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 8: Company Profiles
    • 8.1. Wilmar international
      • 8.1.1. Company Overview
      • 8.1.2. Key Executives
      • 8.1.3. Product Portfolio
      • 8.1.4. Financial Overview
      • 8.1.5. Operating Business Segments
      • 8.1.6. Business Performance
      • 8.1.7. Recent Developments
    • 8.2. Flowserve Corporation
    • 8.3. U.S chemical company
    • 8.4. BASF
    • 8.5. Kao Chemicals
    • 8.6. P&G
    • 8.7. Oleon
    • 8.8. AkzoNobel
    • 8.9. Godrej
    • 8.10. PT.Cisadane Raya Chemicals
  • Chapter No. 9: Marketing Strategy Analysis
    • 9.1. Marketing Channel
    • 9.2. Direct Marketing
    • 9.3. Indirect Marketing
    • 9.4. Marketing Channel Development Trends
    • 9.5. Economic/Pulitical Environmental Change
  • Chapter No. 10: Research Methodology
    • 10.1. Research Methodology
    • 10.2. Phase I - Secondary Research
    • 10.3. Phase II - Data Modeling
      • 10.3.1. Company Share Analysis Model
      • 10.3.2. Revenue Based Modeling
    • 10.4. Phase III - Primary Research
    • 10.5. Research Limitations
      • 10.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Application
FIG NO. 2. Market Attractiveness Analysis, By Region
FIG NO. 3. Global Stearic Acid Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 4. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 5. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 6. Global Stearic Acid Market for Lubricants, Revenue (USD Billion) 2016 – 2028
FIG NO. 7. Comparative Revenue Analysis of Stearic Acid Market for Lubricants, By Country, 2020 & 2028
FIG NO. 8. Global Stearic Acid Market for Personal Care, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Stearic Acid Market for Personal Care, By Country, 2020 & 2028
FIG NO. 10. Global Stearic Acid Market for Fuel Additives, Revenue (USD Billion) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Stearic Acid Market for Fuel Additives, By Country, 2020 & 2028
FIG NO. 12. Global Stearic Acid Market for Rubber Processing, Revenue (USD Billion) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Stearic Acid Market for Rubber Processing, By Country, 2020 & 2028
FIG NO. 14. Global Stearic Acid Market  for Soaps & Detergent, Revenue (USD Billion) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Stearic Acid Market  for Soaps & Detergent, By Country, 2020 & 2028
FIG NO. 16. Global Stearic Acid Market  for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Stearic Acid Market  for Others, By Country, 2020 & 2028
FIG NO. 18. Global Stearic Acid Market  Revenue Share, By Region, 2020 & 2028
FIG NO. 19. North America Stearic Acid Market  Revenue, 2016 - 2028 (USD Billion)
FIG NO. 20. Porter’s Five Forces Analysis for Global Stearic Acid Market 
FIG NO. 21. PEST Analysis for Global Stearic Acid Market 
FIG NO. 22. Pricing Analysis for Global Stearic Acid Market 
FIG NO. 23. Value Chain Analysis for Global Stearic Acid Market 
FIG NO. 24. Company Share Analysis, 2019
FIG NO. 25. Radar Determinant Chart, 2019
FIG NO. 26. Company Strategic Developments – Heat Map Analysis
FIG NO. 27. L-3 Security Detection Systems Business Segment Revenue Share, 2020 (%)
FIG NO. 28. L-3 Security Detection Systems Geographical Segment Revenue Share, 2020 (%)
FIG NO. 29. Market Channels
FIG NO. 30. Marketing Channel Development Trend
FIG NO. 31. Growth in World Gross Product, 2008-2018
FIG NO. 32. Research Methodology – Detailed View
FIG NO. 33. Research Methodology
 


List of Tables 

TABLE NO. 1. Global Stearic Acid Market : Snapshot
TABLE NO. 2. Quarterly Stearic Acid Market  Revenue by Region, 2020
TABLE NO. 3. Quarterly Stearic Acid Market  Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Stearic Acid Market  for Lubricants, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Stearic Acid Market  for Personal Care, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Stearic Acid Market  for Fuel Additives, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Stearic Acid Market  for Rubber Processing, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Stearic Acid Market  for Soaps & Detergent, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Stearic Acid Market  for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Stearic Acid Market  Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. North America Stearic Acid Market  Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 14. North America Stearic Acid Market  Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 15. U.S. Stearic Acid Market  Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 16. Canada Stearic Acid Market  Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 17. Mexico Stearic Acid Market  Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 18. Drivers for the Stearic Acid Market : Impact Analysis
TABLE NO. 19. Restraints for the Stearic Acid Market : Impact Analysis
TABLE NO. 20. Major Buyers of Stearic Acid
TABLE NO. 21. Distributors/Traders 
TABLE NO. 22. Global Stearic Acid Market , Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 23. Global Stearic Acid Market , Company Y-o-Y Growth, 2017 – 2028 (USD Billion)

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Stearic Acid market. Zion Market Research has collected and analyzed key data belong to the global Stearic Acid market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Stearic Acid across the world has been calculated through primary and secondary research.

Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Stearic Acid industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Stearic Acid market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split into segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Stearic acid is an organic compound that is made up of hydrocarbon chain containing a carboxyl group and a methyl group. It is one of the types of fatty acids. It is derived from fats and oils using saponification methods on the commercial basis. It functions as a softening agent and cleaning agent. Therefore, it finds numerous applications in different industries such as the production of soaps and detergents, cosmetics, rubber industry, textile, personal care products, etc.

Growing demand for stearic acid in industries such as food, confectionaries and personal care across the globe is a major driving force of the stearic acid market. Rising demand for rubber tires from the automotive sector is also expected to boom the market size in the coming years. However, volatility in raw material prices is a major restraint of the market. Furthermore, untapped markets in developing countries are likely to provide new avenues to the key players of the market within the forecast period.

Global Stearic Acid Market

Soaps and detergents were one of the foremost applications of the global stearic acid market and it accounted for above 26% share of the entire market in 2016. Moreover, personal care is expected to be the fastest growing application segment of the market over the coming years. Surging demand for personal care products including shampoos, shaving cream, etc is likely to propel the production of stearic acid during the forthcoming years. Furthermore, the emerging automotive industry in developing countries such as Brazil is expected to provide a new market for the stearic acid in the near future.

The Asia Pacific was the largest market of stearic acid in 2016. It held the significant share of the total market in 2016 and furthermore it is expected to continue this trend over the next few years. Growing industrialization along with emerging auto industry in China, India, Indonesia, and Brazil is projected to expand the production of rubber processing industry. North America and Europe are predicted to experience the stagnant growth of the market over the future years. Moreover, growing demand for confectionaries, snacks, and convenience food along with emerging food industry in countries such as Argentina, Brazil, UAE and Saudi Arabia is expected to boost the demand for stearic acid in the coming years.

The major players of the global stearic acid include Wilmar international, U.S chemical company, BASF, Kao Chemicals, P&G, Oleon, AkzoNobel, Godrej, PT.Cisadane Raya Chemicals, Acme Synthetic Chemicals, Protea Chemicals, Nimir Industrial Chemicals Limited, and VVF LLC among others.

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FrequentlyAsked Questions

The global Stearic Acid Market was valued at USD 8.75 in 2020.

The global Stearic Acid Market is expected to reach USD 11.64 Billion by 2028, growing at a CAGR of 3.6% between 2021 to 2028.

Rising applications in personal care products including shampoos, shaving creams, and soaps is anticipated to augment market growth over the forecast period. 

Asia Pacific region held a substantial share of the Stearic Acid Market in 2020.

The major players of the global stearic acid include Wilmar international, U.S chemical company, BASF, Kao Chemicals, P&G, Oleon, AkzoNobel, Godrej, PT.Cisadane Raya Chemicals, Acme Synthetic Chemicals, Protea Chemicals, Nimir Industrial Chemicals Limited, and VVF LLC among others.

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