Global Stearic Acid Market - Overview
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. It is widely used in the 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 Market 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 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.
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Global Stearic Acid Market – Prominent Players
Wilmar International Ltd (Singapore), Croda International Plc (UK), Akzo Nobel N.V. (Netherlands), Deeno Group (China), Emery Oleochemicals (Malaysia), Godrej Industries (India), Oleon (Belgium), Pacific Oleochemicals Sdn Bhd (Malaysia), Kaula Lumpur Kepong Berhad (Malaysia), kao Corporation (Japan), Cayman Chemical (U.S.), Procter and Gamble (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Stearic Acid Market.
Solar control films are in demand as they are a good protection tool against ultraviolet (UV) radiations. Dangers of UV radiations are increasing due to depletion of Ozone layer in the atmosphere. Excessive UV radiations in the atmosphere are increasing the hazards of skin cancer among people. The deadliest form of skin cancer is melanoma, and its treatment is so costly that treating every American suffering from it would cost the US $ 1.5 bn. UV radiations also damage stuff like furniture, flooring, and equipment in the vicinity of the radiation. People use air conditioners in their homes and offices to keep their surroundings cool and safe from UV radiations. However, a system to cool the entire planet like, that is too good to be true and too expensive. Therefore, scientists are looking for cost-effective solutions that can minimize the harmful radiations as much as possible. Not only Stearic Acid prevent UV radiations, but they also provide better privacy when installing in homes. This is another reason that that are so much in demand.
The regional segmentation of the global Stearic Acid Industry is based on North America, Asia Pacific, Europe, and Rest of the World. In North America, the maximum market lies in United States of America (USA) and Canada. In this region, consumers prefer large houses since large open spaces can never be a constraint. Due to Ozone depletion, entire Europe is at the risk of suffering UV radiations and more the Ozone depletion continues, closer Europe gets drawn to the danger. Hence, for protection, fitting of solar control window film is necessary. Hence, in Europe, the growth of Stearic Acid Market stands a strong chance. The European market has been segmented into France, Germany, Italy, United Kingdom (UK) and rest of Europe. As the entire Asia Pacific region lies in the tropical region of our planet, it is subjected to consistent and severe heat, and the dangers of UV radiations are more visible in this region, compared to how they will be more visible in Europe in the coming years. Hence, Asia Pacific is also a strong market for Stearic Acid Industry. The market may exist for Stearic Acid Market Analysis in the whole Asia Pacific region, but the maximum demand, sales, and revenue for this market happen in China, India, and Japan.
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Stearic Acid Market - Segments:
The global Stearic Acid Market Analysis 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
Geographically, the market is divided into five key regions, including Asia Pacific, North America, Europe, Latin America, and the Middle East Africa.
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Stearic Acid Market - Regional Analysis:
Asia Pacific is leading the global stearic acid market owing to expanding consumer base and rising demand for the cosmetics. Increasing spending by the young population on the cosmetics products for personal appearance is propelling the market growth. Additionally, growing demand for the nutritious supplement as a result of rising health concerns among the consumers is stimulating the product demand in this region.
North America and Europe are another prominent regions in the market with growing personal care and healthcare industry coupled with the high purchasing power of the consumers.
Latest Industry News
Recently, 3M welcomed dealers at annual Window Film Dealer Conference as hosts in Phoenix, Arizona. In this conference, 3M established a Dealer Advisory Board, where industry experts shared best practices and insights on how to grow business and increase sales. They also hosted a series of awards for the dealers.
French Stearic Acid Saint-Gobain (SGOB.PA) is set to take a large stake in Switzerland’s Sika AG SIK.S while abandoning its quest for control, in a deal that would end a nearly four-year-old hostile takeover. The dispute over control of Sika started in 2014 when Saint-Gobain offered 2.75 billion Swiss francs to buy the founding Burkard family’s 53 percent voting stake.
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