Stearic Acid Market Research Report – Forecast to 2030

Stearic Acid Market By Application (Cosmetics & Personal Care, Detergents & Soaps, Food Products, Pharmaceuticals, Textile Sizing, And Others), End-Use Industry (Personal Care, Food & Beverages, Healthcare, Textile, And Others), By Region: Forecast Till 2030

ID: MRFR/CnM/4411-HCR | February 2023 | Region: Global | 100 Pages         

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Stearic Acid Market

The Global Stearic Acid Market is estimated to be USD 33.8 Bn in 2021 and is expected to reach USD 50.80 Bn by 2028, growing at a CAGR of 8.70%.

Segmentation
By Application Cosmetics & Personal Care Detergents & Soaps Food Products Pharmaceuticals Textile Sizing Others
End-Use Industry Personal Care Food & Beverages Healthcare Textile Others
Key Players
Companies Profiled   Akzo Nobel N.V. (Netherlands)   Wilmar International Ltd (Singapore)   Croda International Plc (UK)   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.)
Drivers
Market Driving Forces   Increasing use of stearic acid in the manufacturing of cosmetics products   Soaps & detergents
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Stearic Acid Market Overview The Global Stearic Acid Market is estimated to be USD 33.8 Bn in 2021 and is expected to reach USD 50.80 Bn by 2028, growing at a CAGR of 8.70%. Stearic acid is a colorless waxy substance that is also known as octadecanoic acid. It can be found in plant and animal fats and oils. Personal care, soaps and detergents, agrochemicals, food items, medicines, and textile sizing are all made with it. Because of its ability to lower surface tension, stearic acid is increasingly being used in the production of cosmetics, soaps, and detergents, which is driving up demand. The global stearic acid market is being driven by a growing personal care industry as a result of increased spending on cosmetics and skin and hair care products. The market is expanding due to the rising demand for various detergents for various types of clothing. The textile sector in India and China, as well as shifting fashion trends and consumer purchase decisions, are driving the rising demand for stearic acid. Stearic acid is gaining popularity due to rising consumer health concerns. Because of its increasing use as an emulsifying agent, solubilizing agent, and capsule lubricant in the pharmaceutical industry, the market is expected to rise. Because of its softening and dispersing capabilities, stearic acid is becoming more used in the automotive industry. Consumer demand is being boosted globally by the booming textile sector, which is fueled by increased aspirational purchasing and high per capita disposable income. Although the product is safe to use, some skin-sensitive people may be unable to tolerate the use of stearic acid in cosmetic goods, according to the Food and Drug Administration (FDA).

Key Players


Some of the key players in the global stearic acid market are Akzo Nobel N.V. (Netherlands), Wilmar International Ltd (Singapore), Croda International Plc (UK), 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.).Market Synopsis:


Stearic acid is also known as octadecanoic acid, is a colorless, waxy solid. It is found in the fats and oils of plants and animals. It is widely used in the production of personal care, soaps & detergents, agrochemicals, food products, pharmaceuticals, and textile sizing.


Increasing use of stearic acid in the manufacturing of cosmetics products and soaps & detergents due to its function of lowering the surface tension is fuelling the product demand. Growing personal care industry as a result of increased spending on the cosmetics and skin & hair care products is the major factor driving the global stearic acid market. Rising demand for different detergents for a variety of clothes is propelling the market growth. For instance, in 2017, Unilever introduced new laundry detergent under the brand name “Persil Powergems” for removing stains while maintaining the freshness of clothes. The product consumption in the food industry is increasing for the dietary supplement in food products. Rising health concerns among the consumers are impelling the growth of stearic acid. Growing pharmaceutical industry is augmenting the market growth due to its increasing use as an emulsifying agent, solubilizing agent, and capsule lubricant. Stearic acid use is rising in the automotive industry owing to its softener and dispersing properties. Burgeoning textile industry due to rising aspiration based purchasing and high per capita disposable income of the consumers is stimulating the product demand globally. Although, according to the Food and Drug Association (FDA), the product is safe to use, however, some skin sensitive people may not be able to tolerate the use of stearic acid in cosmetic products.


Global Stearic Acid Market Share, By End-Use Industry (%)


 Stearic Acid Market Share


Source: MRFR analysis


Regional Analysis


Asia Pacific is the fastest growing market for stearic acid across the globe owing to the increasing demand for personal care products coupled with rising consumer disposable income. The use of stearic acid is rising in cosmetics as a result of increasing consciousness about personal appearance. Rising preference towards organic, herbal, and ayurvedic products is stimulating the product demand in India. For instance, the Indian beauty and personal care market rose by approximately 70% in the past five years. The product consumption in the healthcare industry is growing with respect to the rising health concern among the consumers. The demand for stearic acid is escalating from the textile industry in India and China coupled with changing fashion trends and purchasing decision of the consumers. The flourishing automotive industry is another significant user of the stearic acid market. Moreover, the surface chemistry plant established by Akzo Nobel N.V. in China for expanding the business in Asia Pacific is likely to bolster the market growth in this region.


North America and Europe are expected to grow at a staggering rate due to growing beauty and cosmetics industry together with rising skin-benefiting and beautifying aspects of new cosmetic products. Growing healthcare industry in these regions as a result of rising geriatric population and high per capita income is stimulating the product demand.


Latin America and the Middle East and Africa are likely to propel the market with increasing spending on the cosmetics products for personal grooming. Furthermore, steps taken by the government in Latin America to promote the innovation in ingredients and new technologies are expected to augment the market growth.Recent Development


Unilever launched a new laundry detergent called Persil Powergems in 2017 to remove stains while keeping the freshness of garments. The use of dietary supplements in food items is becoming more popular in the food business. Innoleo, LLC, a privately held company that produces Stearic acid as well as a full line of castor and other oleo derivatives products, was acquired by Biosynthetic Technologies in January 2022.

Intended Audience



  • Stearic acid manufacturers

  • Traders and distributors of stearic acid

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   Substantial CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Applications, and End-use industry
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Akzo Nobel N.V. (Netherlands), Wilmar International Ltd (Singapore), Croda International Plc (UK), 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.)
  Key Market Opportunities   Growing personal care industry as a result of increased spending on the cosmetics and skin & hair care products
  Key Market Drivers   Increasing use of stearic acid in the manufacturing of cosmetics products and soaps & detergents due to its function of lowering the surface tension is fuelling the product demand


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Frequently Asked Questions (FAQ) :

Stearic acid is widely used in the production of textile sizing, pharmaceuticals, food products, agrochemicals, soaps and detergents, and personal care.

The APAC region is predicted to dominate the stearic acid market during the forecast market.

The stearic acid market is segmented based on applications (agrochemicals, rubber processing, textile sizing, pharmaceuticals, food products, detergents and soaps, cosmetics and personal care, and others), and end use industry (agriculture, automotive, textile, healthcare, food and beverages, personal care, and others).

Leading players profiled in the stearic acid market include Procter and Gamble (U.S.), Cayman Chemical (U.S.), Kao Corporation (Japan), Kaula Lumpur Kepong Berhad (Malaysia), Pacific Oleochemicals Sdn Bhd (Malaysia), Pacific Oleochemicals Sdn Bhd (Malaysia), Oleon (Belgium), Godrej Industries (India), Emery Oleochemicals (Malaysia), Deeno Group (China), Croda International Plc (UK), Wilmar International Ltd (Singapore), and Akzo Nobel N.V. (Netherlands).

Growing personal care industry is the key factor that is boosting the stearic acid market growth.