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Isobutyl Stearate Market: Rapid Rise in Industrialization Plays Key Role in Market Development
The global isobutyl stearate market is dependent on the supply & demand of end-use industries, and the raw materials. Stearic acid is the main raw material which is obtained from vegetable and animal fats, any fluctuations in the supply of steric acid have a direct effect on the isobutyl stearate manufacturers. Also, the substitutes for isobutyl stearate is butyl stearate itself, which can also be used for the same application wherein isobutyl stearate is used and thus restricts the market to some extent. The personal care and cosmetic manufacturers are the chief customers for isobutyl stearate chemical and their growth basically drives the isobutyl stearate consumption rate. Further, the factors which indirectly supports the cosmetic & personal care manufacturers’ growth is the rising disposable income of individuals, urbanisation & development of megacities, demographic trends, penetration of premiumisation.
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The global isobutyl stearate market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). The isobutyl stearate market in APEJ region is expected to grow at healthy CAGR owing to growing penetration of cosmetic industry, urbanisation etc. The isobutyl stearate market in North America and European countries is matured and expected to grow at a stable rate. The retail evolution in MEA coupled with growing tendency of people towards use of cosmetics boosts the isobutyl stearate market in MEA to some extent. Slow economic growth in Brazil, Mexico and other countries of Latin America restricts the growth of isobutyl stearate market.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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