Stearyl Alcohol Market Will Create Highest Returns by 2029 along with COVID-19 Analysis | Sinarmas Cepsa Pte. Ltd., Berg + Schmidt, Biesterfeld AG

Stearyl Alcohol Market Overview:

Stearyl alcohol, also known as octadecyl alcohol or 1-octadecanol, is classified as fatty alcohol [CH3 (CH2)16CH2OH] that is produced from the reduction of fatty acids. It is found in plants such as coconut and palm oil and can also be produced in the laboratories. Stearyl alcohol is insoluble in water and has a shape of granules or flakes. It is extensively used as an ingredient in cosmetics, lubricants, perfumes, resins, hair conditioners, and shampoos, and as a thickener in ointments, emulsifier, and emollient.

The stearyl alcohol market is projected to witness substantial growth during the forecast period on account of its increasing applications in the end-user industries, such as personal care, cosmetics, and pharmaceutical, among others. Rising income levels in the emerging economies have increased the demand for beauty and personal care products, further bolstering the market growth. However, volatility in raw material prices and the emergence of COVID-19 pandemic restrains the market growth.

Increasing Demand for Lubricants in the Automotive Industry/ The U.S. Automotive Industry to Support the Market Growth in North America is growing at a swift pace across the globe; in 2018, the U.S. automotive sector contributed 2.7% to the country’s GDP. Stearyl alcohol is used for the production of lubricants, which is further used in the automotive sector. Thus, rapidly expanding automotive sector and increasing number of vehicle ownership provide an impetus to the market growth.

Automotive sector is the largest consumer of lubricants, further driving the demand for stearyl alcohol. Asia-Pacific has the fastest-growing automotive industry, with China and Japan spearheading the regional market growth. In 2019, Japan produced 8.33 million passenger cars, whereas China is the biggest car manufacturer. Asia-Pacific accounts for around 40% of the global lubricant market. Thus, the increasing consumption of lubricants in the automotive sector provides an impetus to the regional market growth. 

Lubricants play a vital role in maintaining vehicles; for instance, they are extensively used in traditional vehicles, such as cars and motorbikes, to take care of the joints. As per the Statista, in 2017, the global demand for lubricants was around 36 million metric tons. The per capita lubricant demand is high in North America; in 2017, the U.S. lubricant market was estimated at around USD 19 billion. Thus, the expansion of the lubricant market is subsequently surging the demand for stearyl alcohol, further driving the market growth.

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The Major Players Covered in this Report: Sinarmas Cepsa Pte. Ltd., Berg + Schmidt, Biesterfeld AG, P&G Chemicals, Triveni Chemicals, Merck KGaA, VVF Ltd., Kao Corporation, BASF SE, KLK Oleo, New Japan Chemical Co., Ltd., Kokyu Alcohol Kogyo Co., Ltd., & More...

Stearyl Alcohol Market Segmentation-
By Form- Granules, Flakes,
By End-User- Cosmetics and Personal Care, Pharmaceuticals, Food and Beverages,
By Application- Emulsion Stabilizer, Fragrance Ingredient, Emulsifying Agent, Foam Booster, Viscosity Modifier, Emollient

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Regional Overview:
Cosmetic and Automotive Sectors: Largest Market Contributor/ Asia-Pacific’s Stearyl Alcohol Market to Be Driven by the Rapid Expansion of Cosmetic and Automotive Industries
Asia-Pacific is projected to exhibit the fastest growth in the stearyl alcohol market on account of the rapid expansion of cosmetic and automotive sectors in India, China, South Korea, and Japan. As per the Statista, Asia-Pacific’s cosmetic market held the highest share in the global market in 2018, which is about 40% (USD 120 billion). Increasing middle class population, rising health awareness, and debouching beauty trends drive the regional market growth as stearyl alcohol is a key ingredient used in cosmetic products.

Automotive sector is the largest consumer of lubricants, further driving the demand for stearyl alcohol. Asia-Pacific has the fastest-growing automotive industry, with China and Japan spearheading the regional market growth. In 2019, Japan produced 8.33 million passenger cars, whereas China is the biggest car manufacturer. Asia-Pacific accounts for around 40% of the global lubricant market. Thus, the increasing consumption of lubricants in the automotive sector provides an impetus to the regional market growth. 

The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Stearyl Alcohol and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Stearyl Alcohol. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Stearyl Alcohol Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Stearyl Alcohol Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Stearyl Alcohol Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

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