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Stearic Acids Market - Forecast 2021 - 2026
Increasing adoption of stearic acids in lead-acid batteries, rubber processing, and as a lubricant in injection moulding applications, in the end use sector has drived the market growth.


Stearic Acids Market
BriefingWire.com, 11/24/2021 - Stearic Acids Market size is forecast to grow at a CAGR of 3.5% during the forecast period 2021-2026. Globally, the increasing demand for stearic acid derived from plant based and animal based products in numerous applications such as personal care, rubber processing, paints and coatings, and others is driving the growth of the market.

Key Takeaways

Asia-Pacific region dominates the stearic acids market owing to the rising usage of stearic acids in the personal care as well as in the automotive sector in emerging economies such as India, China, South Korea, and Japan.

The rising consumer awareness about the use of dietary supplements to keep them safe and hygienic in their everyday lives would boost the demand for stearic acids over the forecast period.

Increasing adoption of stearic acids in lead-acid batteries, rubber processing, and as a lubricant in injection moulding applications, in the end use sector has drived the market growth.

Moreover, increasing health affects during the production of stearic acids is anticipated to create hurdles in the growth of the market.

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Stearic Acids Market Segment Analysis- Geography

Asia-Pacific region held the largest share of more than 39% in the stearic acids market in 2020. The rising usage and demand of personal care products and cleaning detergents in the Asia-Pacific countries are driving up the demand for stearic acids. These end use industries account for the majority of the demand for stearic acids products. Furthermore, increasing demand for stearic acids in the Southeast Asian countries such as Indonesia, Malaysia, Thailand, and others, in applications such as rubber processing, soap and detergents, and personal care, has raised the market growth. According to the International Trade Administration, from 2019 to 2022, Thailand's beauty and personal care market is expected to expand at a steady rate by 7.3% per year. With the rising personal care sector the market for stearic acids is estimated to increase.

Stearic Acids Market Drivers

Rising Usage of Stearic Acids in Rubber

Increasing Usage of Stearic Acids in the Pharmaceutical Industry

Stearic Acids Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the stearic acids market. Major players in the stearic acids market are BASF SE, The U.S. Chemicals LLC., Emery Oleochemicals, AkzoNobel, Godrej Industries, Wilmar International, Pacific Oleo Chemicals Sdn Bhd, Oleon, Kuala Lumpur Kepong (KLK), and Kao Chemicals, among others.

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