Increasing Need for Personal Care Products
Stearic acids are fatty acids that are derived from animal or vegetable fat oils after hydrogenation. It is widely used in the personal care and cosmetics industry as a surfactant and emulsifying agent. Stearic acid is generally used for the production of stearates, such as sodium stearate, magnesium stearate or calcium stearate, which is a component of personal care products. It is used in more than 3200 skincare and hair care products in recent times. Furthermore, the growing awareness for personal health and hygiene along with increasing beauty consciousness is expected to drive the demand of stearic acid over the forecast period.
Robust Usage in Soaps and Detergents Application
Stearic acid has large number of applications in the soaps & detergent. It primarily fulfils the role of a thickener and a hardener, which helps the soap bar to retain its shape. It is because of stearic acid that soap particles are able to attach to dirt particles, loosening them so that they can be washed away with water. Hence, the growth for stearic acid market is expected to be moderate in soaps and detergents in the coming years.
Asia-Pacific to Dominate the Market
The detergent and cosmetics industry is expected to contribute majorly in the use of stearic acid in the region. The market is supported by the leading global giants situated in the region, such as L’Oreal, Procter & Gamble, Henkel, Unilever, and more. These companies are likely to expand production with growing needs and demand for cosmetics and detergents. The strong and robust cosmetics industry is driven by cutting edge in innovation and creativity. With the various R&D, expansions and investments in cosmetic products, the market for stearic acid is expected to grow at a moderate rate in the region, during the forecast period.
Major Players: Kuala Lumpur Kepong (KLK), IOI Oleochemicals, VVF LLC, Pacific Oleo, and P&G, amongst others.
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