The market for stearic acid has been segmented into type, end use, distribution channel and region. Among types, vegetable-based segment is anticipated to lead global stearic acid market. Based on application, the market is categorized into Soaps & Detergents, Personal Care, Textiles, Lubricants, Rubber Processing and Others (Pharmaceutical, Automotive, Plastics, etc.). Soaps & Detergent segment holds the maximum share in the global stearic acid market backed by rising preference for naturally produced stearic acid as a raw material in soaps and detergents production owing to their competitive prices and no harmful and allergic effects on humans.
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Based on distribution channel, the market is bifurcated in direct sales and distributors sales. In 2018, distributors sales held the maximum share in the global stearic acid market. However, direct sales of stearic acid are expected to increase during the forecast period, backed by stearic acid manufacturers’ focus on maintaining and retaining clients in the long run. Regionally, Asia- Pacific is the largest consumer of stearic acid globally owing to increasing investment in major downstream sector such as chemicals, automotive, textiles, pharma & biotechnology, etc.
Stearic Acid Market Analysis
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TechSci Research calculated global stearic acid market size using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and, applications for getting an appropriate overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Market Players:
Stearic acid market are VVF (Global) Limited, Akzo Nobel Oleo Chemicals, Emery Oleochemicals, Proctor & Gamble Chemicals, PMC Biogenix, Twin Rivers, Kao Chemicals, among others.
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