Stearic Acid Global Market Report 2024

Stearic acid is a saturated monobasic acid with an 18-carbon chain length, typically synthesized through the hydrolysis of animal fat or the hydrogenation of cottonseed or vegetable oil. Commercially available stearic acid often comprises a blend of palmitic and myristic acids. Its applications are widespread, including candle production, use as a softening agent in rubber, and as an additive in lubricant manufacturing.

The primary sources for stearic acid production are animal-based raw materials, sourced predominantly from beef or pork, and vegetable-based raw materials. Sales channels encompass both direct and indirect methods, serving various industries such as automotive, textiles, healthcare, food and beverages, personal care, and others.

The stearic acid market research report is one of a series of new reports that provides stearic acid market statistics, including the stearic acid industry global market size, regional shares, competitors with stearic acid market share, detailed stearic acid market segments, market trends, and opportunities, and any further data you may need to thrive in the stearic acid industry. These stearic acid market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The stearic acid market size has grown strongly in recent years. It will grow from $32.8 billion in 2023 to $35.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth during the historic period can be attributed to rising demand for personal care products, expanding usage in the food industry, growth in the construction sector, advancements in the automotive industry, and increasing demand for metal cleaning applications.

The stearic acid market size is expected to see strong growth in the next few years. It will grow to $49.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be credited to the expanding utilization in candle manufacturing, increasing demand in pharmaceuticals, rising application in cosmetics, growing need in food packaging, and escalating usage in the textile industry. Major trends expected in the forecast period include a shift towards sustainable and bio-based products, rising popularity of natural and organic personal care items, development of biodegradable plastics based on stearic acid, and heightened emphasis on environmentally friendly packaging materials.

The growth of the stearic acid market is expected to be driven by increasing demand for personal care products. These products, which include skincare, haircare, oral care, and cosmetics, are essential for hygiene, grooming, and beautification. Factors contributing to the rising demand for personal care products include growing consumer awareness about personal hygiene, increasing disposable incomes, urbanization, and the influence of social media and beauty trends. In the cosmetics industry, stearic acid plays a critical role in enhancing product stability, texture, and performance due to its emulsifying, thickening, and conditioning properties. For example, the Bureau of Labor Statistics reported a notable increase of 12.3% in personal care products and services in 2022, up from 19.3% in 2021, underscoring the market's expansion driven by the demand for personal care items.

Leading companies in the stearic acid market are actively pursuing innovation in their product offerings, such as non-ionic surfactants, to improve the effectiveness of personal care and cleaning products. Non-ionic surfactants derived from stearic acid are valued for their excellent emulsifying, foaming, and cleansing properties, making them suitable for use in formulations of shampoos, soaps, detergents, and cosmetics. For instance, Ataman Kimya launched PEG-20 Stearate in January 2024, a non-ionic surfactant known for its emulsifying and solubilizing properties in cosmetics and personal care products. This ingredient enhances formulation texture and stability, providing a consistent feel and improving performance in products such as hand and body lotions, creams, and select cleansing products.

In January 2022, Biosynthetic Technologies acquired Innoleo for $7.5 million to strengthen its portfolio with stearic acid and other castor derivatives. This acquisition expands Biosynthetic Technologies' ability to offer sustainable, high-performance bio-based products across sectors such as lubricants, metalworking fluids, and personal care products. Innoleo, a US-based biosynthetic technologies company, specializes in stearic acid production and a wide range of castor and other oleo derivatives.

Major companies operating in the stearic acid market are Cargill Incorporated, BASF SE, Procter & Gamble, Wilmar International Ltd., Evonik Industries AG, kao Corporation, Musim Mas Group, Stepan Company, Croda International Plc, KLK Oleo, Sinarmas Cepsa Pte. Ltd., Vantage Specialty Chemicals, Godrej Industries Limited, New Japan Chemical Co. Ltd., Oleon NV, Emery Oleochemicals, Spectrum Chemical, Cayman Chemical, Stearinerie Dubois, The Chemical Company, Lascaray S.A., IOI Oleochemical, Acme Synthetic Chemicals, ATAMAN KİMYA, Zanyu Technology Group Co. Ltd.

Asia-Pacific was the largest region in the stearic acid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stearic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the stearic acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The stearic acid market consists of sales of natural stearic acid, synthetic stearic acid. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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