What Fueled The Previous Growth In The Stearic Acid Market?
The stearic acid market has seen considerable growth due to a variety of factors.
• The stearic acid market has grown substantially in recent years. It will increase from $35.52 billion in 2024 to $38.68 billion in 2025, growing at a CAGR of 8.9%.
Growth drivers include rising demand for personal care products, its use in the food industry, growth in construction, the rise in automotive production, and demand for metal cleaning.
What Is The Expected Growth In The Stearic Acid Market Size Evolve over the Forecast Period?
The stearic acid market is expected to maintain its strong growth trajectory in upcoming years.
• The stearic acid market is projected to experience significant growth, reaching $53.67 billion by 2029, with a CAGR of 8.5%.
Growth drivers include its use in candle manufacturing, pharmaceuticals, cosmetics, food packaging, and textiles. Trends include a shift to sustainable, bio-based products, the popularity of natural personal care products, biodegradable plastics, and eco-friendly packaging materials.
What Main Forces Are Fueling Expansion In The Stearic Acid Market?
The stearic acid market is projected to thrive as the demand for personal care products surges. These products, encompassing skincare, haircare, cosmetics, and oral care, are in greater demand due to the heightened consumer consciousness about personal hygiene and grooming. Other factors contributing to this demand increase include rising disposable incomes, urbanization, and the impact of social media beauty trends. Stearic acid, a key component in cosmetics, boosts the product's stability, texture, and efficiency. Its emulsifying, thickening, and conditioning attributes position it as a sought-after add-on in skincare, haircare, and personal care products. For example, the Bureau of Labor Statistics, a US governmental body, recorded a 12.3% uptick in personal care products and services in September 2023, a considerable increase from 19.3% in 2021. Therefore, this escalating demand for personal care products serves as a robust driver for the stearic acid market.
What Are The Primary Segments In The Global Stearic Acid Market?
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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How Are New Trends Impacting The Size Of The Stearic Acid Market?
In an effort to improve the functionality of personal care and cleaning products, leading businesses in the stearic acid industry are concentrating on the creation of novel items, such as non-ionic surfactants. As they possess excellent emulsifying, foaming and cleaning properties, non-ionic surfactants derived from stearic acid are ideal for use in the creation of shampoos, soaps, detergents, and cosmetics. For example, in January 2024, Ataman Kimya, a chemical manufacturing company based in Turkey, introduced PEG-20 Stearate, a non-ionic surfactant known for its emulsifying and solubilizing properties, utilized within cosmetics and personal care products. It boosts the texture and stability of product formulations, offering a uniform and seamless feel. As a dependable emulsifier, PEG-20 Stearate helps in stabilizing water-oil mixes in cosmetic formulations. Its usage is widespread in products like hand and body creams and lotions, and even some cleansing products designed for skin impurity removal. Along with these, PEG-20 Stearate is incorporated in several cosmetic and personal care products, spanning from moisturizing lotions to sunscreens and various skincare routines.
Who Are the Key Players In The Stearic Acid Market?
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 KIMYA
• Zanyu Technology Group Co. Ltd.
What Is The Most Dominant Region In The Stearic Acid Market?
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.
