According to TechSci Research report, “Global Stearic Acid Market By Type, By End Use, By Distribution Channel, Competition, Forecast & Opportunities, 2024”, the global stearic acid market is projected to cross $ 11.5 billion by 2024. Rising awareness among consumers about benefits of personal care products is resulting in higher usage of cosmetics and personal care products, which is anticipated to drive global stearic acid market in the coming years. Stearic acid is a waxy solid, saturated fatty acid that is derived from animal fat and vegetable oils. Stearic acid market is gaining momentum owing to powerful cleansing and surfactant properties that facilitate removal of oil and dirt in the skin.

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Global stearic acid market has been segmented based on type, end use, distribution channel and region. Based on type, the market can be bifurcated into animal based and vegetable based. Vegetable based segment dominates the market and is anticipated to maintain its dominance during forecast period as well, owing to strong preference for vegetable-based stearic acid raw material for its application in soap & detergent, personal care, food & beverages and pharmaceuticals segments. Based on end use, soaps & detergent segment is the largest market segment, and is expected to grow on account of rising inclination towards naturally produced stearic acid as a raw material in soaps and detergents production as it has no harmful and allergic effects on humans.

VVF (Global) Limited, Akzo Nobel Oleo Chemicals, Emery Oleochemicals, Proctor & Gamble Chemicals, PMC Biogenix, Twin Rivers, and Kao Chemicals are some of the leading players operating in the global stearic acid market. Companies operating in the market are constantly making efforts for improving plant operational efficiencies and adopting strategies to enhance their product portfolio to boost their market share.

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“Asia Pacific region dominates the global stearic acid market owing to increasing investments in major downstream sectors such as chemicals, automotive, textiles, pharma & biotechnology, etc. Rapid industrialization along with rising disposable income of consumers in the region will continue to boost stearic acid market size over the forecast timeframe. Moreover, developed markets such as North American and European economies are steadily recovering from the economic downturn and are anticipated to generate significant demand for stearic acid in the coming years” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Stearic Acid Market By Type, By End Use, By Distribution Channel, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of stearic acid market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global stearic acid market.

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Source: TechSci Research