Press release
Stearic Acid Market Anticipated To Witness Robust Growth, Surpassing $53.67 Billion By 2029
Stearic Acid Market
What Is the Current Stearic Acid Market Size and Its Estimated Growth Rate?
The stearic acid market is projected to grow from $35.52 billion in 2024 to $38.68 billion in 2025 at a CAGR of 8.9%. The growth is attributed to rising demand for personal care products, increasing use in the food industry, growth in the construction sector, expansion of the automotive industry, and greater demand for metal cleaning.
The stearic acid market is forecasted to grow strongly, hitting $53.67 billion in 2029 with a CAGR of 8.5%. This growth is supported by increased use in candles, pharmaceuticals, cosmetics, food packaging, and textiles. Key trends involve a move toward bio-based alternatives, rising demand for natural personal care items, stearic acid-based biodegradable plastics, and eco-friendly packaging solutions.
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How Are Emerging Segments Shaping the Stearic Acid Market Landscape?
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
Subsegments:
1) By Animal-Based Raw Materials: Tallow, Lard, Other Animal Fats
2) By Vegetable-Based Raw Materials: Palm Oil, Coconut Oil, Soybean Oil, Sunflower Oil, Canola Oil
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Which Growth Factors Are Influencing Stearic Acid Market Expansion?
The rising demand for personal care products is projected to drive the growth of the stearic acid market. Personal care products, which include skincare, haircare, oral care, and cosmetics, are experiencing increased demand due to heightened consumer awareness of hygiene, grooming, rising disposable incomes, urbanization, and the influence of beauty trends and social media. Stearic acid enhances the stability, texture, and performance of these products, making it essential in cosmetics. For example, in September 2023, the Bureau of Labor Statistics reported a 12.3% increase in personal care products and services in 2022 compared to 2021. Therefore, the growing demand for personal care products is boosting the stearic acid market.
Who Are the Dominant Players Across Different Stearic Acid Market Segments?
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 K?MYA, Zanyu Technology Group Co. Ltd.
What Trends Are Driving Growth in The Stearic Acid Market?
Leading companies in the stearic acid market are concentrating on creating innovative products, such as non-ionic surfactants, to improve the performance of personal care and cleaning products. Non-ionic surfactants derived from stearic acid are known for their excellent emulsifying, foaming, and cleansing properties, making them suitable for formulations like shampoos, soaps, detergents, and cosmetics. For example, Ataman Kimya, a Turkish chemical manufacturing firm, introduced PEG-20 Stearate in January 2024, a non-ionic surfactant that enhances emulsification and solubilization in cosmetics. It improves the texture and stability of cosmetic formulations, stabilizing water and oil mixtures in products like hand and body lotions, creams, and skincare products.
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Which Geographic Regions Are Expected to Dominate the Stearic Acid Market in the Coming Years?
Asia-Pacific was the largest region in the stearic acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stearic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Stearic Acid Market?
2. What is the CAGR expected in the Stearic Acid Market?
3. What Are the Key Innovations Transforming the Stearic Acid Industry?
4. Which Region Is Leading the Stearic Acid Market?
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Stearic Acid Prices, Chart, Trend, Graph and Forecast
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• 𝗦𝗼𝘂𝘁𝗵 𝗞𝗼𝗿𝗲𝗮: 1322 USD/MT (Rubber Grade)
The stearic acid (rubber grade) prices in South Korea for Q4 2023 reached 1322 USD/MT (Rubber Grade) in December.
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