Stearic Acid Market 2021-2027 Growth Demand, COVID-19 Impact Analysis And Future Challenges
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Stearic acid is a multipurpose fatty acid that is also known as octadecanoic acid CH3(CH2)16COOH. Textiles, construction, personal care, and rubber manufacture have all utilized it commercially. The widespread use of industrial grade rubber in a variety of sectors, such as tyres, has resulted in significant income streams in the stearic acid industry. Its inherent lubricity, non-toxicity, shelf-life, and durability are critical in a wide range of stearic acid uses. Manufacturing of personal care products is a good example. For polymers and textiles, the acid has become a preferred lubricant and softener. In addition, it's a common component in soaps. For instance, it is also utilized in specialty papers, such as photography sheets.
The requirement for stearic acid in cosmetic and detergent products is expected to grow due to its powerful cleaning and surfactant characteristics, which make it easier to remove oil and debris from the skin. In the next years, high demand for surfactants in personal care and soaps & detergents is expected to lift product saturation in these markets. Over the projected period, expanding application breadth in numerous specialized areas such as candle production, metal processing, and nutritional supplements is likely to support market growth. The stearic acid market is expected to be driven by increasing awareness of sustainable and biodegradable goods as petrochemical dependency decreases. The worldwide power industry has been concerned about volatile costs of petrochemical-derived goods due to supply-demand mismatches, which has prompted a move to bio-based chemicals. Furthermore, the industry's expansion may be hampered by unpredictable raw material costs for vegetable oils and petrochemical products, as well as the rising prevalence of toxicity and dangers connected with them. Furthermore, risks linked to increased product concentrations in people and animals, such as cancer, liver function disorder, and skin damage, may have a detrimental impact on business growth.
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In terms of applications, the global market is fragmented into lubricants, rubber processing, textile, soaps & detergents, and personal care. The soaps & detergents division is anticipated to hold the major market share based on usage and revenue.
Due to increasing globalization in the area and increased demand for different goods in which stearic acid is a key component, Asia Pacific is anticipated to continue to expand at the quickest revenue rate throughout the forecast period. Emerging nations like China, India, and South Korea are projected to become significant consumers, adding considerably to the region's market expansion.
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