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Stearic Acid Market Research Report and Industry Forecast To 2024

Stearic Acid Market Research Report and Industry Forecast

The Research Report on “Stearic Acid Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, Stearic acid is extensively used in personal care products including shampoos, soaps and shaving creams. It offers versatility, thickening, binding, stability and enhanced shelf life which makes them preferred in the personal care products usage.

The global cosmetic market generated revenue more than USD 155 billion in 2006 and marked USD 220 billion in 2015, with 3.5% growth. Furthermore, increasing organic chemicals application across personal care products will further complement industry growth.

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Growing application scope in niche sectors such as dietary supplements, candle manufacturing, metal processing and pharmaceutical industry will positively influence stearic acid market size. Increasing awareness amongst consumers towards use of dietary supplements to keep them healthy and hygienic in daily life schedules will boost stearic acid market size over the forecast timeframe.

Fluctuating raw material supply for petrochemical and vegetable oils along with toxic hazards of products may negatively impact stearic acid market price trend and challenge industry participants. Excessive concentrated product consumption may cause health issues such as liver toxicity, human & animal skin disease and cancer which may hinder stearic acid market product demand. However, increasing investments towards innovations and development of 100% bio based product may create growth opportunities for the industry participants by 2024.

Personal care application segment is estimated to experience the fastest gains more than 5% CAGR owing to rising organic personal care products demand on account to increasing consumer awareness. Soaps and detergents emerged as one of the most significant application and accounted for approximately 25% of the global volume in 2015. Rapid industrialization along with growing end user industry including automotive will drive stearic acid market size for lubricants. Automotive parts and machinery extensively require lubricants for effective and smooth functioning owing to propel industry growth.

North America and Europe are mature market and it is anticipated to witness strong growth over the forecast period especially in the U.S, Germany and France. Furthermore, France is one of the largest contributor for cosmetic industry. Latin America is expected to experience substantial gains mainly driven by rapid industrialization, consequently driving industry growth for lubricants, rubber and metal processing.

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Global stearic acid market size is moderately consolidated with industry players involved in strategic developments via acquisitions and mergers. Key industry participants are the U.S chemical company, P&G, AkzoNobel, BASF, Godrej, and Wilmar international. Other industry participants are Oleon, VVF, Pacific Oleochemicals, Kuala Lumpur Kepong Berhad (KLK), and Kao Chemicals.

Browse Related Reports:

Acetic Acid Market Size By Application (Vinyl Acetate Monomer [VAM], Purified Terephthalic Acid [PTA], Acetate Esters, Acetic Anhydride), Bio-based Acetic Acid ( Industry Scope, Technology Insights, Commercialization, Addressable Market Potential), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/acetic-acid-market

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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