Stearic Acid Market Overview 2024-2033 - Share, Size, Insights, and Forecast | Analysis

"The new report published by The Business Research Company, titled Stearic Acid Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the stearic acid market size has grown strongly in recent years. It will grow from $32.80 billion in 2023 to $35.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The stearic acid market size is expected to see strong growth in the next few years. It will grow to $49.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.

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The Impact of Personal Care Product Demand on the Stearic Acid Market
The increasing need for personal care products is expected to propel the growth of the stearic acid market going forward. Personal care products encompass items used for hygiene, grooming, and beautification, including skincare, haircare, oral care, and cosmetics. The increasing need for personal care products is attributed to rising consumer awareness about personal hygiene and grooming, growing disposable incomes, urbanization, and the influence of social media and beauty trends. Stearic acid plays a crucial role in cosmetics by enhancing product stability, texture, and performance. Its emulsifying, thickening, and conditioning properties make it valuable in various skincare, haircare, and personal care products. For instance, in September 2023, according to the Bureau of Labor Statistics, a US-based government agency, personal care products and services increased by 12.3% in 2022 from 19.3% in 2021. Therefore, the increasing need for personal care products drives the stearic acid market.

Innovative Applications Of Non-Ionic Surfactants Derived From Stearic Acid In Cosmetics And Personal Care
Major companies operating in the stearic acid market are focused on developing innovative products, such as non-ionic surfactants, to enhance the performance of personal care and cleaning products. Non-ionic surfactants derived from stearic acid offer excellent emulsifying, foaming, and cleansing properties, making them ideal for use in formulations of shampoos, soaps, detergents, and cosmetics. For instance, in January 2024, Ataman Kimya, a Turkey-based chemical manufacturing company, launched PEG-20 Stearate, a non-ionic surfactant used in cosmetics and personal care products for its emulsifying and solubilizing properties. It enhances the texture and stability of formulations, providing a smooth and consistent feel. PEG-20 Stearate is a reliable emulsifier that stabilizes water and oil blends in cosmetic formulations. Its utility extends notably to hand and body lotions and creams, and it is also featured in select cleansing products designed to cleanse the skin of impurities. PEG-20 Stearate finds application across a spectrum of cosmetic and personal care items, including moisturizing creams, lotions, sunscreens, and various skincare preparations.

The stearic acid market covered in this report is segmented -

1) By Feedstock: Animal-Based Raw Materials, Vegetable-Based Raw Materials
2) By Sales Channel: Direct Sales, Indirect Sales
3) By End-Use Industry: Agriculture, Automotive, Textiles, Healthcare, Food And Beverages, Personal Care, Other End-Use Industries

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Major companies operating in the stearic acid market are Cargill Incorporated, BASF SE, Procter & Gamble, Wilmar International Ltd., Evonik Industries AG , kao Corporation , Musim Mas Group, Stepan Company, Croda International Plc, KLK Oleo, Sinarmas Cepsa Pte. Ltd., Vantage Specialty Chemicals, Godrej Industries Limited, New Japan Chemical Co. Ltd., Oleon NV, Emery Oleochemicals, Spectrum Chemical, Cayman Chemical, Stearinerie Dubois, The Chemical Company, Lascaray S.A., IOI Oleochemical, Acme Synthetic Chemicals, ATAMAN KİMYA, Zanyu Technology Group Co. Ltd.

Contents of the report:
1. Executive Summary
2. Stearic Acid Market Report Structure
3. Stearic Acid Market Trends And Strategies
4. Stearic Acid Market - Macro Economic Scenario
5. Stearic Acid Market Size And Growth
…..
27. Stearic Acid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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