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Press Release: Stearates Market to reach around US$ 7,056.9 million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Stearates are esters of fatty acids. They are widely used as additives due to their lubricating property. It helps in reducing the friction between polymers and fillers. They can be classified into metal stearates and non-metal stearates. Metal stearates include calcium stearate, zinc stearate, and magnesium stearate whereas non-metal stearates encompass glycerol monostearate (GMS) and various types of animal fats.
The global stearates market is estimated to account for US$ 4,747.0 Mn in terms of value and 1,604.3 Kilo Tons in terms of volume by the end of 2019.
Drivers:
Growing demand for stearates from building & construction industry is propelling the market growth. They are used in the cement in order to enhance the water-repelling and flowing properties. Basically, they are used as a hydrophobic agent in the building & construction industry. This helps in the formation of waterproofing surfaces. Zinc, magnesium, aluminum, calcium, and sodium are some of the metallic stearates used in the building &construction industry.
The rising demand for stearates from the pharmaceutical industry is expected to accelerate market growth. It is used as anti-caking additive for granules and powders in the production of the drugs. Growing geriatric populations is creating demand for healthcare need such as drugs and medical devices. Also, increasing production of the drugs and other pharmaceutical products to cater to rising demand is projected to bolster the market growth of the stearates.
Figure 1. Global Stearates Market Share (%) in terms of Value, By Region, in 2019
Asia Pacific region dominated the global stearates market in 2019, accounting for 45.2% share in terms of value.
Market Restraints
The increasing price of raw materials is expected to hinder the market growth of stearates. Stearic acid is majorly used in the production of stearates, it is derived from vegetable and animal oils and fats. Thus the growing price of fats and oils is increasing the overall price of the stearates, thereby hindering the market growth.
Strict environmental regulations associated with the use of stearates as they are categorized under serious threat is expected to hamper the market growth. For instance, stearates such as lead stearates are on the verge of voluntary phase-out from the industry in some regions. Lead stearates are majorly used in processing and compounding of PVC.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 4,747.0 Mn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 5.0% | 2027 Value Projection: | US$ 7,056.9 Mn |
| Geographies covered: |
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| Companies covered: |
American eChem Inc., Baerlocher GmbH, Corporation Sierra Madre S.A. de C.V., Dover Chemical Corporation, FACI S.p.A., Ferro Corporation, Hummel Croton, Inc., Mallinckrodt Pharmaceuticals, Mexichem S.A.B. de C.V. and Nitika Pharmaceutical Specialties Private Limited (Nikita Chemicals) |
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Market Opportunities
The growing use of aluminum stearates for the production of aluminum greases is expected to offer profitable opportunities in the near future. Aluminum greases are widely used in the paints and coatings industry as water repellent ingredients. Various manufacturer are increasing production of aluminum stearates due to the growing building &construction industry around the globe. Hence, rising demand for aluminum stearates is fostering the market growth.
The increasing focus of manufacturers on developing an innovative production process for metallic stearates is projected to offer potential market opportunities. At present precipitation or double decomposition is the most commonly used technologies for manufacturing of metallic stearates. However, manufacturers are focusing on R &D to develop more innovative and eco-friendly technologies for the production of metallic stearates.
Figure 2. Global Stearates Market– Opportunity Analysis
Market Trends/Key Takeaways
Increasing use of metallic stearates in the textile industry is a growing trend in the market. In the textile industry, it is applied for dry impregnation and antistatic agents. Moreover, it is also used in the ink industry as swelling and suspension aids for pigments. Furthermore, rapid urbanization and improving living of standard are augmenting the market growth of the stearates over the forecast period.
Various manufacturers are establishing a new facility for increasing the production capacity of the metallic stearates. This is another growing trends in the market. For instance, in May 2019, Baerlocher has added a new 10,000 t/y production line for metal stearates, at a new warehouse and an office facility at its Seremban site. The company has invested more than USD 10million in this new facility.
Figure 3. Global Stearates Market Share (%) in terms of Value, By End-User, in 2019
On the basis of end-user in 2019, the plastic & rubber processing segment has accounted the largest market share of 56.4% in terms of value, followed by building & construction and others segment respectively.
Global Stearates Market - Impact of Coronavirus (Covid-19) Pandemic
The stearates market showcased a confronting probability of a profound impediment brought about by the impact of lockdowns over the globe to slow the spread of Covid-19 pandemic. The demand for stearates has declined various end-use industries such as plastic & rubber industry, plastic & rubber industry and paints & coating industry. This is expected to hamper the growth of stearates market in next few years till end of the 2021.
Value Chain Analysis
Competitive Section:
Company Names
Stearates are esters of fatty acids widely used as additives due to their lubricating property. It helps in reducing the friction between polymers and fillers. They can be classified into metal stearates and non-metal stearates. Metal stearates include calcium stearate, zinc stearate, and magnesium stearate whereas non-metal stearates encompass glycerol monostearate (GMS) and various types of animal fats.
Market Dynamics
The increasing innovations by major stearates manufacturers on developing an innovative production process for metallic stearates is projected to offer potential market opportunities. Manufacturers are focusing on R &D to develop more innovative and eco-friendly technologies for the production of metallic stearates.
The rising demand for stearates from the pharmaceutical industry is expected to accelerate market growth. It is used as anti-caking additive for granules and powders in the production of the drugs. Growing geriatric populations is creating demand for healthcare need such as drugs and medical devices. Also, increasing production of the drugs and other pharmaceutical products to cater to rising demand is projected to bolster the market growth of the stearates.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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