Stearic Acid Market by Application and Geography - Forecast and Analysis 2022-2026
| Published: Sep 2022 | Pages: 146 | SKU: IRTNTR74468 |
The stearic acid market is projected to grow by USD 553.66 million with a CAGR of 5.57% during the forecast period 2021 to 2026.
This stearic acid market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the stearic acid market segmentation by application (personal care, food and beverages, healthcare, textile, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The stearic acid market report also offers information on several market vendors, including 3F Industries Ltd., BASF SE, Cayman Chemical Co., ChemCeed LLC, Croda International Plc, Emery Oleochemicals LLC, Godrej Industries Ltd., IOI Corp. Berhad, Jarchem Industries Inc., Kao Corp, KLK Oleo, NIMIR INDUSTRIAL CHEMICALS LTD., Nissan Chemical America Corp., Oleon NV, Pacific Oleochemicals Sdn Bhd, Stepan Co., TAIKO KIKAI INDUSTRIES Co. Ltd, The Procter & Gamble Co., VVF Group, and Wilmar International Ltd. among others.
What will the Stearic Acid Market Size be During the Forecast Period?
Download Report Sample to Unlock the Stearic Acid Market Size for the Forecast Period and Other Important Statistics
Stearic Acid Market: Key Drivers, Trends, and Challenges
Increasing industrial growth in APAC, North America, and MEA is notably driving the stearic acid market growth, although factors such as volatility in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the stearic acid industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Stearic Acid Market Driver
Increasing industrial growth in APAC, North America, and MEA is one of the factors driving the stearic acid market growth. The stearic acid market in APAC, North America, and MEA is growing due to rapid industrialization. The increased spending capacity of the middle-class populations, the availability of abundant labor, and other factors in these regions are the key reasons that encourage vendors to expand and establish new industries in these regions. Factors responsible for rapid industrialization in these regions include the initiatives undertaken by governments for industrialization, rapid globalization, and others. Rapid industrialization is fostering the demand for stearic acid in applications such as cosmetics and rubber processing, among others. Such factors will drive market growth during the forecast period.
Key Stearic Acid Market Trend
The use of stearic acid in metal processing and candle manufacturing is one of the key stearic acid market trends fueling the stearic acid market growth. Stearic acid is popularly used in the manufacturing of candles. The major factors driving the market are the high demand for decorative candles, ease of purchase, increasing penetration of online channels, and rise in demand from emerging economies. However, the use of stearic acid is not extensively commercialized in the candle manufacturing segment. This can be attributed to the availability of many other substitutes and health and environmental concerns related to the use of stearic acid. Manufacturers mostly prefer to use bio-products in candle-making, such as stearic acid, which is used as a hardener in the candle-making process. Owing to these factors, the market is expected to grow significantly during the forecast period.
Key Stearic Acid Market Challenge
Volatility in raw material prices is one of the key factors challenging the stearic acid market growth. Various end-users require a specific color of stearic acid as per the application. The variations in the color of the acid indicate the level of impurity, and the cost of producing stearic acid with a high level of purity is high. Biosynthetic methods, such as the seeding and pressing methods of extraction of stearic acid from fat, are expensive. This makes the manufacturing cost of stearic acid quite high. Moreover, global fluctuations are seen in crude oil prices from which stearic acid is produced via synthetic routes. Such factors are challenging market growth.
This stearic acid market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global stearic acid market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the stearic acid market during the forecast period.
Who are the Major Stearic Acid Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- 3F Industries Ltd.
- BASF SE
- Cayman Chemical Co.
- ChemCeed LLC
- Croda International Plc
- Emery Oleochemicals LLC
- Godrej Industries Ltd.
- IOI Corp. Berhad
- Jarchem Industries Inc.
- Kao Corp
- KLK Oleo
- NIMIR INDUSTRIAL CHEMICALS LTD.
- Nissan Chemical America Corp.
- Oleon NV
- Pacific Oleochemicals Sdn Bhd
- Stepan Co.
- TAIKO KIKAI INDUSTRIES Co. Ltd
- The Procter & Gamble Co.
- VVF Group
- Wilmar International Ltd.
This statistical study of the stearic acid market encompasses successful business strategies deployed by the key vendors. The stearic acid market is fragmented, and the vendors are deploying growth strategies such as features, price, services, and performance to compete in the market.
Product Insights and News
- 3F Industries Ltd. - The company offers stearic acid for rubber tires, PVC stabilizers, and PVC pipes.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report stearic acid market contains comprehensive market knowledge and an in-depth vendor landscape added on to an analysis of the key vendors.
Stearic Acid Market Value Chain Analysis
Our In-house experts produce extensive information on the value chain and parent market of the stearic acid market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
Which are the Key Regions for Stearic Acid Market?
For more insights on the market share of various regions Request PDF Sample now!
40% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the stearic acid market in APAC. Market growth in this region will be slower than the growth of the market in South America.
Rising health concerns will facilitate the stearic acid market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 and 2021 negatively affected the regional market. However, the initiation of vaccination drives led to the lifting of lockdowns in many countries in the region. This resulted in the reopening of production units and operations in distribution channels, which increased the demand for stearic acid in the region. Such factors are likely to drive the growth of the market in the region during the forecast period.
What are the Revenue-generating Application Segments in the Stearic Acid Market?
To gain further insights on the market contribution of various segments Request a PDF Sample
The stearic acid market share growth in the personal care segment will be significant during the forecast period. APAC is expected to account for the highest market share in the personal care market owing to the presence of an expanding population, an increase in the male consumer base, and others during the forecast period. Such key factors are fueling the growth in the personal care segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the stearic acid market size and actionable market insights on the post-COVID-19 impact on each segment.
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Stearic Acid Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.57% |
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Market growth 2022-2026 |
$553.66 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.45 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 40% |
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Key consumer countries |
US, China, Japan, Germany, and The Netherlands |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
3F Industries Ltd., BASF SE, Cayman Chemical Co., ChemCeed LLC, Croda International Plc, Emery Oleochemicals LLC, Godrej Industries Ltd., IOI Corp. Berhad, Jarchem Industries Inc., Kao Corp, KLK Oleo, NIMIR INDUSTRIAL CHEMICALS LTD., Nissan Chemical America Corp., Oleon NV, Pacific Oleochemicals Sdn Bhd, Stepan Co., TAIKO KIKAI INDUSTRIES Co. Ltd, The Procter and Gamble Co., VVF Group, and Wilmar International Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Stearic Acid Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive stearic acid market growth during the next five years
- Precise estimation of the stearic acid market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the stearic acid industry across APAC, North America, Europe, South America, and the Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of stearic acid market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Personal care - Market size and forecast 2021-2026
- Exhibit 28: Chart on Personal care - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Personal care - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Personal care - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Personal care - Year-over-year growth 2021-2026 (%)
- 5.4 Food and beverages - Market size and forecast 2021-2026
- Exhibit 32: Chart on Food and beverages - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Food and beverages - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Food and beverages - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Food and beverages - Year-over-year growth 2021-2026 (%)
- 5.5 Healthcare - Market size and forecast 2021-2026
- Exhibit 36: Chart on Healthcare - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Healthcare - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Healthcare - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Healthcare - Year-over-year growth 2021-2026 (%)
- 5.6 Textile - Market size and forecast 2021-2026
- Exhibit 40: Chart on Textile - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Textile - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Textile - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Textile - Year-over-year growth 2021-2026 (%)
- 5.7 Others - Market size and forecast 2021-2026
- Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Application
- Exhibit 48: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 Germany - Market size and forecast 2021-2026
- Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.10 China - Market size and forecast 2021-2026
- Exhibit 82: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.11 The Netherlands - Market size and forecast 2021-2026
- Exhibit 86: Chart on The Netherlands - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on The Netherlands - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on The Netherlands - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on The Netherlands - Year-over-year growth 2021-2026 (%)
- 7.12 Japan - Market size and forecast 2021-2026
- Exhibit 90: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 94: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 95: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 97: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 98: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 99: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 100: Matrix on vendor position and classification
- 10.3 3F Industries Ltd.
- Exhibit 101: 3F Industries Ltd. - Overview
- Exhibit 102: 3F Industries Ltd. - Business segments
- Exhibit 103: 3F Industries Ltd. - Key offerings
- Exhibit 104: 3F Industries Ltd. - Segment focus
- 10.4 BASF SE
- Exhibit 105: BASF SE - Overview
- Exhibit 106: BASF SE - Business segments
- Exhibit 107: BASF SE - Key news
- Exhibit 108: BASF SE - Key offerings
- Exhibit 109: BASF SE - Segment focus
- 10.5 Cayman Chemical Co.
- Exhibit 110: Cayman Chemical Co. - Overview
- Exhibit 111: Cayman Chemical Co. - Product / Service
- Exhibit 112: Cayman Chemical Co. - Key offerings
- 10.6 ChemCeed LLC
- Exhibit 113: ChemCeed LLC - Overview
- Exhibit 114: ChemCeed LLC - Product / Service
- Exhibit 115: ChemCeed LLC - Key offerings
- 10.7 Croda International Plc
- Exhibit 116: Croda International Plc - Overview
- Exhibit 117: Croda International Plc - Business segments
- Exhibit 118: Croda International Plc - Key news
- Exhibit 119: Croda International Plc - Key offerings
- Exhibit 120: Croda International Plc - Segment focus
- 10.8 Emery Oleochemicals LLC
- Exhibit 121: Emery Oleochemicals LLC - Overview
- Exhibit 122: Emery Oleochemicals LLC - Product / Service
- Exhibit 123: Emery Oleochemicals LLC - Key news
- Exhibit 124: Emery Oleochemicals LLC - Key offerings
- 10.9 Godrej Industries Ltd.
- Exhibit 125: Godrej Industries Ltd. - Overview
- Exhibit 126: Godrej Industries Ltd. - Business segments
- Exhibit 127: Godrej Industries Ltd. - Key offerings
- Exhibit 128: Godrej Industries Ltd. - Segment focus
- 10.10 IOI Corp. Berhad
- Exhibit 129: IOI Corp. Berhad - Overview
- Exhibit 130: IOI Corp. Berhad - Business segments
- Exhibit 131: IOI Corp. Berhad - Key offerings
- Exhibit 132: IOI Corp. Berhad - Segment focus
- 10.11 The Procter and Gamble Co.
- Exhibit 133: The Procter and Gamble Co. - Overview
- Exhibit 134: The Procter and Gamble Co. - Business segments
- Exhibit 135: The Procter and Gamble Co. - Key news
- Exhibit 136: The Procter and Gamble Co. - Key offerings
- Exhibit 137: The Procter and Gamble Co. - Segment focus
- 10.12 Wilmar International Ltd.
- Exhibit 138: Wilmar International Ltd. - Overview
- Exhibit 139: Wilmar International Ltd. - Business segments
- Exhibit 140: Wilmar International Ltd. - Key news
- Exhibit 141: Wilmar International Ltd. - Key offerings
- Exhibit 142: Wilmar International Ltd. - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 143: Inclusions checklist
- Exhibit 144: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 145: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 146: Research methodology
- Exhibit 147: Validation techniques employed for market sizing
- Exhibit 148: Information sources
- 11.5 List of abbreviations
- Exhibit 149: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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stearic acid market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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