Isostearic Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for Isostearic Acid is expected to grow at a CAGR of over 7% during the forecast period. Major factors driving the market studied are growing cosmetics & personal care industry in the Asia-Pacific region and rising demand from chemical esters segment. On the flipside, high cost of isostearic acid due to limited supply and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.

Key Highlights

• Growing demand of bio-based products is expected to offer various lucrative opportunities for the growth of market.
• By application, cosmetics & personal care segment is expected to dominate the market owing to the increase in the usage of isostearic acid as emulsifier in manufacturing various cosmetic and personal care products.
• Asia-Pacific region dominated the isostearic acid market across the globe with the largest consumption from countries such as China and India.

Key Market Trends

Increasing Demand from Cosmetics & Personal Care Segment

• Isostearic acid is fatty acid which is produced by reacting oleic acid with other natural mineral catalyst. It is lightly branched and clear yellow in color.
• The increasing demand of isostearic acid as a key ingredient in manufacturing cosmetics and personal care products like skin care, hair care, sun protection cream, lip color cosmetics, bath & shower products, and liquid soaps is propelling the isostearic market.
• Isostearic acid has superior properties such as odor stability, thermal stability and ultraviolet rays resistant properties. Owing to these properties the demand of isostearic acid in cosmetics and personal care is likely to increase during the forecast period.
• The global cosmetics and personal care industry is expected to grow at a CAGR of over 4% during the forecast period. Due to this, there will be surge in the demand of isostearic acid and thus, stimulating its market during the forecast period.
• Owing to all the above-mentioned factors for isostearic acid, its market is expected to grow rapidly over the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region is expected to dominate the market for isostearic acid during the forecast period. In countries like India and China owing to rise in demand from various end-user industries like cosmetics & personal care, methyl esters, and lubricants and greases, the demand for isostearic acid has been increasing in the region.
• There are various chemical esters based on isostearic acids like isopropyl isostearate, isostearyl isostearate, sorbitan isostearate, ethyl isostearate, glycerol monoisostearate, tri-isostearin, and trimethylopropane tri-isostearate.
• These chemical esters have several functions in cosmetics & personal care industry such as adhesion, dispersion, solubilizer, emollient, pigment promoters, effective solvent, plasticizer, and water repellent. Owing to these wide range of functions, the demand of isostearic acid is increasing, which is propelling its market in the region.
• Additionally, isostearic acid is widely used in moisturizing creams, skin creams, sunscreen preparation, lotions, and shower gels formulations as isostearic acid replenishes the moisture in the skin by acting as an emollient and thus, increasing the product demand in the region.
• Furthermore, isostearic acid is used in manufacturing synthetic lubricants, corrosion inhibitors, and alkyld resins in lubricant and grease industry.
• Growing consumer awareness regarding bio-based products and increasing natural products demand owing to potential harm caused due to toxic agents produced by petrochemical products is likely to provide lucrative opportunities for the growth of isostearic acid market during the forecast period.
• The Asia-Pacific synthetic lubricants market is expected to grow at a CAGR of over 3% during the forecast period. This would increase the demand of isostearic acid and thus, propel its market during the forecast period.
• Some of the major companies operating in Asia-Pacific region are - Croda International Plc, Oleon NV., and Nissan Chemical Corporation.
• The aforementioned factors, coupled with government support, are contributing to the increasing demand for isostearic acid during the forecast period.

Competitive Landscape

The isostearic acid market is consolidated with top players accounting for a major share of the market. Some of the key companies in the market include Croda International Plc, KRATON CORPORATION., Oleon NV., Jarchem Industries Inc., and Emery Oleochemicals.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support