Stearic Acid Market is estimated to grow significantly in the forecast period owing to the increasing application of stearic acid in personal care products. Stearic acid is a saturated fatty acid that is derived from animal and vegetable fats and oils. It is used in the manufacturing of pharmaceutical products, personal care products (soaps, detergents, shaving creams, shampoo, etc.), candle making and lubricants.
Esters
of stearic acid are used in the production of a lustrous effect in soaps,
shampoos and other personal care products. Stearic acid offers versatility,
thickening, stability, binding and improved shelf life, which makes them ideal
to be used in personal care products. It also offers surfactant and cleansing
properties that help in oil & dirt removal, making it an indispensable raw
material for detergent and soaps production.
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In
the recent years, the demand for stearic acid has witnessed progressive rise
and this trend is predicted to continue in the forecast period as well. The
major reason for this trend is the varied range of application products that
encompass the use of stearic acid. The application products that include
stearic acid mainly comprise hardener for candies, production of plasticizer
alcohols, cleaners, detergents, lubricants, etc. The increasing demand for
these products from industries like plastics, automotive, paints &
coatings, and oil & gas is expected to stimulate the demand for stearic
acid, thereby affecting stearic acid industry growth.
Increasing
application scope in niche sectors like dietary supplements, metal processing,
candle making and pharmaceutical industry is predicted to influence stearic
acid market positively in the years to come. The growing consumer awareness for
the use of dietary supplements for healthy and hygienic lifestyle will drive
the market in the coming years.
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Government
regulations for Nutritional Labelling and Education Act (NLEA), 2018 concerning
the use of saturated fatty acids in food additives is expected to fuel the
market impressively. Moreover, increasing organic chemicals application in
personal care products will further accompany stearic acid industry growth.
Inconsistent
supply of raw material for vegetable oil, petrochemical and toxics of products
may adversely impact stearic acid market and opposing influence may further
impact pricing trend and challenge the existing market players. Excess
consumption of concentrated product may cause health issues like skin disease,
liver toxicity, and cancer, which may again hamper the demand of stearic acid.
However, growing investments for improvement of pure bio-based product may open
growth opportunities for the market players in future.
Stearic
acid industry is categorized on the basis of application and geography. On the
basis of application, the market is divided into lubricants, rubber processing,
personal care, fuel additives, soaps & detergents, and others.
Geographically, stearic acid market is segmented as North America, Latin
America, Europe, Asia Pacific, and Middle East & Africa. Owing to speedy
industrialization, growth for the need of lubricants, rubber and metal
processing, North America and Europe are predicted to hold larger market share
of stearic acid in near future.
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