Market Size of Stearic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 5.36 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Stearic Acid Market Analysis
The Stearic Acid Market size is estimated at 9.47 Million tons in 2024, and is expected to reach 12.30 Million tons by 2029, growing at a CAGR of 5.36% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020. However, the increasing consciousness regarding personal hygiene and clean surroundings stimulates the demand for stearic acid-based personal care and household cleaning products, thus enhancing the market demand for stearic acid.
- Major factors driving the market studied are the increasing need for personal care products and the rapid growth of the cleaners and detergents industry.
- On the flip side, fluctuating prices of raw materials and carcinogen effects in high concentrations hinder the growth of the market studied.
- Increasing applications for metal cleaning and candle manufacturing are likely to offer opportunities for the market to rise over the forecast period.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
Stearic Acid Industry Segmentation
Stearic acid (octadecanoic acid) is a saturated fatty acid with long hydrocarbon chains containing a carboxyl group. It can be derived from fats and oils, which can be based on plants or animals. The stearic acid market is segmented by feedstock, application, and geography. By feedstock, the market is segmented into animal-based raw materials and vegetable-based raw materials. By application, the market is segmented into soaps and detergents, personal care, textiles, plastics, rubber processing, and other applications. The report also covers the market size and forecasts for the stearic acid market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume in kilotons.
| Feedstock | |
| Animal-based Raw Materials | |
| Vegetable-based Raw Materials |
| Application | |
| Soaps and Detergents | |
| Personal Care | |
| Textiles | |
| Plastics | |
| Rubber Processing | |
| Other Applications |
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Stearic Acid Market Size Summary
The stearic acid market is poised for significant growth over the forecast period, driven by the increasing demand for personal care products and the expanding cleaners and detergents industry. The market's expansion is supported by the rising awareness of personal hygiene and the demand for clean living environments, which boost the consumption of stearic acid in personal care and household cleaning products. Despite challenges such as fluctuating raw material prices and potential health concerns at high concentrations, the market is expected to benefit from new applications in metal cleaning and candle manufacturing. The Asia-Pacific region is anticipated to lead the market, experiencing the highest growth rate, fueled by urbanization and a burgeoning younger population in countries like China, India, and Japan.
Stearic acid's versatility is evident in its use in over 3,200 skincare and hair care products, where it serves as a key component in the production of stearates like sodium, magnesium, and calcium stearate. The global beauty and personal care market's robust growth, particularly in regions like Europe and Asia-Pacific, is expected to further drive the demand for stearic acid. The market's fragmented nature includes major players such as Wilmar International Ltd, Kuala Lumpur Kepong Berhad, Oleon, and others, who are likely to influence its trajectory through strategic developments and investments. As the market evolves, the increasing focus on natural and environmentally friendly products is expected to shape consumer preferences and industry dynamics.
Stearic Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Need for Personal Care Products
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1.1.2 Rapid Growth of the Cleaners and Detergents Industry
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1.2 Restraints
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1.2.1 Fluctuating Prices of Raw Materials
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1.2.2 Carcinogen Effect in High Concentrations
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1.2.3 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Feedstock
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2.1.1 Animal-based Raw Materials
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2.1.2 Vegetable-based Raw Materials
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2.2 Application
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2.2.1 Soaps and Detergents
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2.2.2 Personal Care
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2.2.3 Textiles
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2.2.4 Plastics
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2.2.5 Rubber Processing
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Stearic Acid Market Size FAQs
How big is the Stearic Acid Market?
The Stearic Acid Market size is expected to reach 9.47 million tons in 2024 and grow at a CAGR of 5.36% to reach 12.30 million tons by 2029.
What is the current Stearic Acid Market size?
In 2024, the Stearic Acid Market size is expected to reach 9.47 million tons.
