The Asia Pacific metallic stearate market size is projected to reach USD 2.4 billion by 2025, according to a new report by Grand View Research, Inc. It is estimated to expand at a CAGR of 6.5% over the forecast period. Rapid growth of key application industries, including plastics, rubber, cosmetics, and pharmaceuticals, in the region has resulted in increased product demand. This trend, most notably in the emerging economies such as Indonesia and Thailand, is expected to drive the market growth in Asia Pacific.
Metallic stearates are produced via a reaction between stearic acid and metal oxides. Stearic acid is primarily obtained from palm kernel oil. Major manufacturers of palm kernel oil have a strong presence in countries such as China, Indonesia, Malaysia, Philippines, and Thailand. Ambient weather conditions and soil characteristics in these countries favor the production of palm kernel oil. Moreover, growing industrialization and government expenditures on infrastructure development in these countries are expected to open new avenues for various end-use industries. This, in turn, is expected to benefit regional growth over the forecast period.
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Various PVC applications, such as healthcare packaging, food packaging, bottles, tubes, footwear, flooring, pipes, and toys, require metallic stearates as a stabilizer. Furthermore, they act as a macromolecular binder and help decrease the softening temperature of PVC. Metallic stearates also function as a release agent. This is anticipated to boost product demand over the coming years. Metallic stearates also function as internal lubricants, which improves compatibility owing to the presence of polar groups.
Indonesia was the largest market for metallic stearates in 2017, and this trend is expected to continue over the forecast period. Robust industrial growth in this country is projected to drive demand for calcium stearate as it is used in building & construction applications as an efflorescence agent. In addition, the strong presence of international brands and growing focus of the regional government to expand manufacturing in the cosmetics industry are expected to fuel product demand in near future.
APAC Metallic Stearate Market Report Highlights
• In terms of revenue, the value for zinc stearate in Asia Pacific is anticipated to reach USD 802.7 million by 2025 at a CAGR of 6.3%
• Plastics formed the dominant segment, in terms of revenue, in 2017 with a market share of 31.7%. This growth was due to its ability to enable the processor to produce finished articles with lower friction and smoother surfaces while optimizing production
• The Indonesia metallic stearate market is anticipated to exceed USD 160.7 million by 2025 owing to recent economic growth, which propelled the infrastructure, residential, and commercial building, and automotive sectors in the country
• The market for metallic stearates is highly competitive due to the presence of a number of multinational companies with wide product portfolios
• Companies are focusing on adding new products to their portfolio, which are tailored to meet specific requirements. For instance, in 2017, Valtris Specialty Chemicals, Inc. added a new product, Synpro Calcium Stearate, to its product portfolio.
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APAC Metallic Stearate Market Segmentation
Grand View Research has segmented the Asia Pacific metallic stearate market on the basis of product, application, and country:
Asia Pacific Metallic Stearate Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Zinc Stearate
• Calcium Stearate
• Aluminum Stearate
• Magnesium Stearate
• Others
Asia Pacific Metallic Stearate Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Plastics
• Rubber
• Pharmaceutical
• Cosmetics
• Building & Construction
• Paints & Coatings
• Others
Asia Pacific Metallic Stearate Country Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Malaysia
• Indonesia
• Thailand
• Philippines
• Vietnam
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.