Global Isostearic Acid Market - 2021-2028

Global Isostearic Acid Market - 2021-2028

Market Overview

The global isostearic acid market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).

Isostearic acid is a liquid fatty acid molecule with an 18-carbon atom chain backbone, an isomer of stearic acid found naturally in meat products and vegetable oils. It is produced by the reaction of oleic acid with a natural mineral catalyst with no chemical additives. Therefore, isostearic acid is based 100% on the parent oil or fat.

Isostearic acid is an amphiphilic, meaning it is a molecule with a hydrophilic end and a hydrophobic end. As such, it can have favorable interactions with polar and non-polar molecules, enabling it to work as a surfactant. Besides, it is soluble in many oils, which allows it to be used as a dispersant or an emulsifier. With this set of properties, isostearic acid is a helpful additive in various applications. The growing awareness regarding the hazardous nature of petrochemical products among consumers is inclining their interest in bio ingredients, which is driving the growth of the global isostearic acid market.

Market Dynamics

The growth of the cosmetic industry and increased application of fatty acid in cosmetics are expected to drive the market. Also, increased demand for fatty acids in the home & personal care industry drives the market. However, the high cost of isostearic acid and substitutes are expected to restrain the market.

The growth of the cosmetic industry and increased application of fatty acid in cosmetics are expected to drive the isostearic acid market

Isostearic acid is a liquid fatty acid manufactured from oleic acid. It's claimed to have a great odor, thermal and oxidation stability and is excellent for stabilizing pigments and mineral particles in oils and solvents. Therefore, it is widely used in cosmetics products, especially in foundations. According to Cosmetic Ingredient Review (CIR), isostearic acid is safe as a cosmetic ingredient in the current use practices.

The growing significance has led cosmetic and personal care companies to invest and expand their isostearic production units, contributing to the market growth. For instance, In June 2018, Oleon N.V. officially opened its new isostearic acid production unit, which would produce Isostearic acid and Dimers, which have a yearly production capacity of 14.125 tons. It will double Oleon's global market share within this business segment to around 30%.

Increased demand for fatty acids in the home & personal care industry drives the isostearic market

Market penetration of fatty acids has risen in surfactant-based industries, such as soaps & detergents and personal care & cosmetics. Because of the COVID-19 outbreak, people are more aware of the importance of using home care products. Surfactant-based goods, such as detergents and washing soaps, have increased demand considerably. In addition, the need for hand sanitizers and other personal care products has risen rapidly as a careful measure against the spread of coronavirus.

The main application of these fatty acid surfactants in the cosmetic industries is as an emulsifying and solubilizing agent. Further, these acid surfactants are used as lipophilic solubilizers in the pharmaceutical industry for lotions and ointments. The functions and properties of fatty acids are expected to drive their demand in the homecare and personal care industry.

The high cost of isostearic acid along with the presence of substitutes are expected to restraint the market

Isostearic acid is highly-priced due to its high production cost, limiting its Purity applications. Moreover, there are various substitutes for isostearic acids such as lauric acid, myristic acid, palmitic acid, ricinoleic acid, oleic acid, behenic acid, erucic acid and coconut fatty acid, which are readily available in the market at lower prices.

Myristic acid and lauric acid are the most prevalent fatty acids used in the personal care industry, owing to their low costs. Therefore, the wide availability of substitutes impacts the global isostearic acid market and is expected to be high in the short term and mediocre in the medium and long term. However, with the continuous R&D activities by isostearic acid manufacturers, the production cost is expected to be lower over the forecast period.

COVID-19 Impact Analysis

The cosmetic and personal care sector is the primary application of isostearic acid. According to CosmeticsEurope director-general, with months of consumer lockdowns, retail businesses shuttered, global travel bans, purchase and usage behavior has changed significantly across the beauty and personal care space. As a result, sales have fallen across many beauty segments globally during the pandemic. Further, the industry experts predict that the swathes of small brands that make up a significant part of the market could be hit hardest.

Segment Analysis

Based on application, the isostearic acid market is segmented into cosmetics & personal care, synthetic lubricants, lubricant adhesives, paints & coating, surfactants, sealants and others.

Isostearic acid is a liquid fatty acid manufactured from oleic acid. It has a great odor and thermal and oxidation stability and stabilizes pigments and mineral particles in oils and solvents. Therefore, it is widely used in cosmetics products. There is an increasing demand for isostearic acid as a key ingredient in manufacturing cosmetics and personal care products like skincare, sun protection cream, lip color cosmetics, bath & shower products and liquid soap isostearic market.

As per the statics provided by the United Nations Department of Economic and Social Affairs, the world's young population in 2019 was over 1200 million, accounting for 16 % of the global population. Furthermore, by 2026, the world's young people are expected to exceed 1,400 million. The younger demographic is valuable for the cosmetics and personal care industry.

The increasing demand has led major companies to expand the isostearic market, contributing to its growth. For instance, in June 2018, Oleon officially opened its new isostearic acid production unit, which would produce Isostearic acid and Dimers, which have a yearly production capacity of 14.125 tons. It will double Oleon's global market share within this business segment to around 30%. Therefore, the increasing significance of cosmetics products is expected to drive the isostearic acid market over the forecast period.

Geographical Analysis

The isostearic acid market is segmented into North America, Europe, South America, Asia-Pacific and Middle East & Africa based on geography.

Asia-Pacific has a significant presence in terms of income and volume attributed to the rising beauty care goods and material operations in China and India. Further, China is a crucial region because of the significant presence of the restorative business to meet the growing buyer need. The changing lifestyles and a rising population with a preference for beauty and wellness products will support the market.

Asia-Pacific is the largest oil & fat producer and raw material base for oleochemicals globally, trailed by Europe. Accordingly, as a purchaser, Asia-Pacific has better control of the creation and conveyance of oleochemicals. For example, In June 2019, Sasol began another alkoxylation plant in Nanjing, Jiangsu Province, China. The development is relied upon to assist the organization with fortifying its situation in China and fulfilling its developing need for a claim to fame synthetics. The task is to utilize stretched or straight alcohols to meet client prerequisites in applications like cleanser, metalworking and oil, individual consideration and others.

Competitive Landscape

The isostearic acid market is moderately competitive with the presence of local as well as global companies. Some of the key players contributing to the market's growth include Oleon NV, Croda Global Plc, KRATON CORPORATION, Jarchem Industries Inc., Emery Oleochemicals UNIVAR SOLUTIONS, Merck KGaA, Foreverest Resources Ltd., Parchem fine & specialty chemicals and BOC Sciences, among others. In addition, the major companies are adopting growth strategies such as product launches and partnerships, contributing to the growth of the global isostearic acid market.

Oleon NV

Overview: Oleon NV is a European company that specializes in manufacturing oleochemicals. The company transforms natural oils and fats into an extensive range of oleochemical products, such as fatty acids, glycerine, esters, dimers, specialty oleochemicals and biodiesel. Moreover, the company is headquartered in Ghent, Belgium.

Product Portfolio: Oleon NV offers isostearic acid under the Base Oleo product category. The three products are Radiacid 0907, Radiacid 0908 and Radiacid 0909.

Key Developments:

In June 2018, Oleon NV officially opened its new isostearic acid production unit, which would produce Isostearic acid and Dimers, with a yearly production capacity of 14.125 tons. It will double Oleon's global market share within this business segment to around 30%

Why Purchase the Report?

Visualize the composition of the isostearic acid market segmentation by form, application, purity and region, highlighting the key commercial assets and players.

Identify commercial opportunities in the isostearic acid market by analyzing trends and co-development deals.

Excel data sheet with thousands of isostearic acid market-level 4/5 segmentation points.

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The global isostearic acid market report would provide access to an approx. 61 market data table, 55 figures and 180 pages.

Target Audience

Service Providers/ Buyers

Oleochemicals Manufacturers

Cosmetic & Personal Care Manufacturers

Lubricants and Grease Manufacturers

Paints & Coating Companies

Emerging Companies

Manufacturers