This report provides exclusive insights into the COVID-19 impact on the Stearic Acid Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Stearic Acid Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Stearic Acid Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on the stearic acid market provides an in-depth analysis of segments and sub-segments in the global as well as regional stearic acid market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional stearic acid market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global stearic acid market. According to the report the global stearic acid market is projected to grow at a CAGR of 4.1% over the forecast period of 2018-2024.
Stearic acid is also known as an octadecanoic acid that is basically a saturated fatty acid with an 18-carbon backbone. The stearic acid is in the white solid form and has a mild odor. The stearic acid is derived from plants and animal fats.
Rapidly growing personal care product sector is the primary driving factor of the stearic acid market. Stearic acid mainly used in the personal care products such as shampoo, soaps, and others as they have enhanced the shelf life of the product as well as it offers binding, stability, versatility and thickening properties. The stearic acid has surfactant & cleansing properties because of that they are vastly used as the raw materials in the soap and detergent production. In addition, the growing use of stearic acid in the various industries including, automotive, personal care, construction, cleaners, and others are likely to boost the growth of the stearic acid market over the forecast period. However, the low solubility of stearic acid in the water creates the residual film on bathtubs and skin which can cause damage to the skin. This is anticipated to hamper the market growth.
Moreover, the growing cosmetic industry coupled with cutting-edge innovation and creativity can create huge opportunities in the stearic acid market. Also, The increasing use of stearic acid for the metal cleaning and manufacturing of candles are projected contribution to the growth of the steric acid market in upcoming years.
Among the geographies, Asia-Pacific accounts for the largest market share in the market of stearic acid. Rapidly growing industrialization, rising demand for personal care products are escalating the growth of the steric acid market in the Asia Pacific region. North America and the Europe region is growing at a significant rate in the stearic acid market. The steady growth of personal care products such as shampoo, soaps, and others in these region drives the market of stearic acid in North America and Europe region.
The report on the global stearic acid market covers segments such as raw material and applications. On the basis of raw material, the global stearic acid market is categorized into animal-based and vegetable-based. On the basis of applications, the global stearic acid market is categorized into personal care, soaps & detergents, rubber processing, textile, lubricants, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global stearic acid market such as The Chemical Company, U.S. Chemicals LLC, BASF, AkzoNobel, Godrej Industries, Oleon, Emery Oleochemicals, Kao Chemicals, VVF LLC, Pacific Oleochemicals Sdn, Bhd, Cayman Chemical and Others.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global stearic acid market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the stearic acid market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the stearic acid market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the stearic acid market to understand the present and future trends in this market and formulate their strategies accordingly.