Global Stearic Acid Market is expected to reach USD 11.01 billion by 2022,
according to a new study by Grand View Research, Inc. Increasing penetration of
organic chemicals across personal care products such as shaving creams,
shampoos and soaps is expected drive the global stearic acid market. Benefits
such as enhanced shelf life, versatility, excellent binding & thickening
properties and stability, as a base for cosmetics are anticipated to strengthen
its demand over the forecast period. Powerful surfactant and cleansing properties
that assist removal of dirt and oil in the skin are slated to fuel its demand
in soaps and detergents. Favorable regulations such as Nutritional Labeling and
Education Act (NLEA) of 1990, permitting use of saturated fatty acids in food
additives are also expected to impact its demand positively. Hazards related to
toxicity coupled with volatile raw material prices are expected to remain a key
challenge for market participants.
Soaps & detergents emerged
as the largest application segment and accounted for 28.9% of the total market
volume in 2014. Growing detergents industry in emerging economies may be
attributed for high level of market penetration in the segment.
Request to Sample of This Report @ http://www.grandviewresearch.com/industry-analysis/stearic-acid-market
Further key findings from the study suggest:
- Global stearic acid demand was 5,744.3 kilo tons in 2014 and is expected to reach 8,129.9 kilo tons by 2022, growing at a CAGR of 4.5% from 2015 to 2022.
- Personal care is projected to witness the fastest growth of 5.1% over the forecast period. Growth of personal care industry in Asia Pacific and Latin America is expected to drive this segment over the forecast period. Surging organic personal care and cosmetic products demand is also estimated to fuel stearic acid demand.
- Growing application scope across various niche segments including metal processing, candle manufacturing, and pharmaceuticals is also expected to drive global stearic acid industry growth in near future.
- Asia Pacific was the largest regional market and accounted for 42.7% of total volume in 2014. Asia Pacific stearic acid market is characterized by rapid industrialization coupled with rising disposable income level particularly in India, China and Indonesia. These factors may be attributed to the rising product demand across various application segments in the region.
- Major companies operating in global stearic acid market include The U.S. Chemical Company LLC., BASF, AkzoNobel, Emery Oleochemicals, Wilmar International, Godrej Industries, Oleon, Pacific Oleochemicals Sdn Bhd, Kao Chemicals, and Kuala Lumpur Kepong (KLK).
For the purpose of this study, Grand View Research has
segmented the stearic acid market on the basis of application and region:
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For More Information,
Visit Grand
View Research
Contact:
Sherry James
Corporate Sales Specialist, U.S.A.
Grand View Research, Inc.
United States
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
Blog Site: http://www.grandviewresearchinc.blogspot.in/
No comments :
Post a Comment