About Stearic Acid
Stearic acid is a waxy solid saturated fatty acid that contains 18-carbon chain. It naturally occurs in coconut oil, palm kernel oil, animal and vegetable fats, and in the milk of several mammals. The chemical formula of stearic acid is C17H35CO2H. Commercially used stearic acid is a mixture of approximately equal amounts of stearic and palmitic acid and small amounts of oleic acid. It is mainly used in the manufacturing soaps and detergents and cosmetics such as shampoos, shaving products, and creams.
Technavio’s analysts forecast the global stearic acid market to grow at a CAGR of 4.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global stearic acid market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Stearic Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global stearic acid market: Akzo Nobel, BASF, Godrej Industries, Procter & Gamble, and Wilmar International.
Other Prominent Vendors in the market are: 3F GROUP, Cayman Chemical, Chemceed, Croda International, Deeno Group, Emery Oleochemicals, IOI Corporation Berhad, Jarchem Industries, Kao, KLK OLEO, Nimir Industrial Chemicals, Nissan Chemical America Corporation, Oleon, Pacific Oleo Chemicals, Stepan, TAIKO KIKAI INDUSTRIES, and VVF.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is use of stearic acid in metal processing and candle manufacturing. Major vendors are investing in the R&D activities for widespread application of stearic acid. This has led to the use of stearic acid in applications such as metal processing and candle manufacturing.”
According to the report, one driver in the market is increasing industrial growth in APAC, Latin America, and MEA. The stearic market in APAC, Latin America, and MEA are experiencing a phase of rapid industrialization. Increased affordability of middle class people, availability of abundant labor, government support in providing ease of credit for establishing manufacturing setups, and suitable environment conditions in these regions are the key reasons for vendors expanding and establishing new industries in these regions.
Further, the report states that one challenge in the market is volatility in raw material prices. Highly unstable prices in the commodities market are putting financial pressure on many producers of stearic acid. Stearic acid is extracted from animal and vegetable fats and oils. In addition, synthesized from petrochemicals contribute to 65% of the production. Stearic acid is extracted by the process of hydrogenation of vegetable oils, cotton seeds, and animal and vegetable fats. Under high pressure and high temperature, the hydrolysis of fats and oils form triglycerides.
Akzo Nobel, BASF, Godrej Industries, Procter & Gamble, Wilmar International, 3F GROUP, Cayman Chemical, Chemceed, Croda International, Deeno Group, Emery Oleochemicals, IOI Corporation Berhad, Jarchem Industries, Kao, KLK OLEO, Nimir Industrial Chemicals, Nissan Chemical America Corporation, Oleon, Pacific Oleo Chemicals, Stepan, TAIKO KIKAI INDUSTRIES, and VVF.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook