- Metallic stearates are used in diverse industries to enhance the quality of the product, thus inviting great growth opportunities for the metallic stearates market through the forecast period of 2020-2030
- The global metallic stearates market is extrapolated to expand at a CAGR of ~5 percent across the assessment period of 2020-2030
ALBANY, N.Y., Sept. 16, 2020 /PRNewswire/ -- The roles played by metallic stearates such as stabilizers, water-repelling agents, lubricating agents, and others among a plethora of end-users may serve as a prominent growth booster for the metallic stearates market.
Transparency Market Research (TMR), after a scrutinized analysis on diverse factors, predicts the global metallic stearates market to expand at a CAGR of ~5 percent during the assessment period of 2020-2030 and is estimated to reach a value of US$ 3.5 bn by the end of the forecast period.
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The plastic industry is growing rapidly across the globe and this factor may bring tremendous growth opportunities for the metallic stearates market through the forecast period of 2020-2030. Furthermore, the applications of metallic stearates across the rubber industry may also add extra stars of growth to the metallic stearates market. The construction industry may also serve as a key prospect for the growth of the metallic stearates market due to their use in paint and coatings as water-repellent ingredients.
Metallic Stearates Market: From Experts' Desk
The exponential growth experienced across industries such as paints and varnishes, detergents and lubricants, cosmetics, and pharmaceuticals is inviting extensive growth prospects for the metallic stearates market according to the TMR analysts. Furthermore, the analysts quote the increasing adoption of metallic stearates in the plastic industry as a prominent growth aspect.
The analysts suggest the players in the metallic stearates market to pay attention to streamlining their supply chain and weave a strong web of suppliers from diverse regions to exert influence on the metallic stearates market.
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Metallic Stearates Market: Major Findings
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Metallic Stearates Market: Growth Boosters
The overwhelming lubrication properties of metallic stearates may bring expansive growth for the metallic stearates market during the assessment period.
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Metallic Stearates Market: Growth Dampeners
Allergy symptoms can be observed in some people after consuming supplements or food products containing metallic stearates. It can irritate the mucosal lining of the bowels and can result in diarrhea. This factor may prove as a major growth obstacle for the metallic stearates market.
Furthermore, the COVID-19 outbreak has restrained the growth of the metallic stearates market due to the stringent lockdown measures. The shutting down of various manufacturing units and production facilities has resulted in slow growth of the metallic stearates market.
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Global Metallic Stearates Market: Segmentation
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Stearates Market - The global Stearates market was valued at US$ 4,512.4 Mn in 2018 and is anticipated to expand at a CAGR of 5.5% during the forecast period. The market for stearates is driven by factors such as high demand for additives in the plastic & rubber processing industry coupled with rising demand for stearates in the building & construction industry. Stearates are used as lubricating, releasing and anti-caking agents in plastic processing. Stearates are also used as acid scavengers in plastic processing and compounding.
Anti-Tack Agents Market - The global anti-tack agents market is segmented into the product types of stearates, fatty acid esters, fatty acid amides, soap, and others. Among these, stearates led the global anti-tack agents market, with a 40% share. The factors responsible for the dominant share of stearates in the global anti-tack agents market are their excellent water repellence, lubrication, foam inhibition, separation, and gelling capacity. Among other product segments, fatty acid esters, in particular, are used as rubber releasing agents.
Fatty Acid Esters Market - The growing relevance of personal care products, especially amongst youngsters and women, has generated humongous demand within the global fatty acid esters market. The use of these esters is not restricted to a single industry, and a plethora of applications for these chemical compounds have come to the fore in recent times. Therefore, the total volume of revenues within the global fatty acid esters market is set to expand in the years to follow. The chemical industry has also become a matter of debate and discussion across key international entities. Development of distinct compounds and esters for chemical testing and analysis has become an important consideration for several chemical scientists. Therefore, the use of fatty acid esters is expected to increase in the years to follow.
Isobutyl Stearate Market - In terms of region, Asia Pacific dominated the isobutyl stearate market in 2016. It is likely to remain the dominant region during the forecast period. Rise in demand for isobutyl stearate in personal care and metal working industries, especially in countries such as China and Japan, is boosting the isobutyl stearate market in Asia Pacific. It is a densely populated region in the world; India and China account for 1/6th of the global population. Thus, there exists high demand for personal care and cosmetics products in the region. Additionally, large number of manufacturing companies operate in Asia Pacific, especially in India, China, Japan, and South Korea. High amount of metal working fluids is constantly used in these countries.
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