The global metallic stearate market is anticipated to reach USD 4.84 billion by 2025, growing at a CAGR of 5.4%, according to a new report by Grand View Research, Inc. The growth of the plastics and cosmetics industry owing to technological advancements in the sectors, most notably in the North America and Asia Pacific regions, coupled with rising demand of metallic stearate, is expected to fuel the product demand.
There are various types of metallic stearate available in the market, including zinc, calcium, aluminum, and magnesium. The others segment includes, sodium and lithium. Technological advancements have led to increasing awareness among consumers about the advantages of metallic stearates.
In terms of revenue, plastics accounted for the largest revenue share among applications in 2016, and is anticipated to continue its dominance with a growth rate of 4.6% over the forecast years. Promising growth in plastics production, especially in Asia Pacific, is anticipated to drive sizeable demand for metallic stearates over the forecast period.
The demand for the product is expected to boost owing to the growth in various application industries across key economies of the Asia Pacific region. Different product types are used in various applications, depending upon the requirements.
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Further key findings from the report suggest:
The plastics segment will experience the fastest growth, in terms of volume, projected to grow at a CAGR of 4.6% from 2017 to 2025; this growth can be accredited to the increasing usage of plastics for various applications, including packaging.
Zinc stearate accounted for the largest share of revenues in 2016, among products. The wide usage of this product can be attributed to easy raw material accessibility and superior functionalities.
Global calcium stearate revenue was recorded at USD 470 million in 2016 and is anticipated to experience steady growth over the years ahead, on account of increasing usage in key applications such as cosmetics, pharmaceuticals, and paints & coatings.
Asia Pacific is projected to witness the fastest growth in terms of product demand, over the forecast period, on account of the robust growth being witnessed by the plastics, rubber, and building & construction industries, most notably in India and China.
Key players in the industry focus primarily on new product launches and capacity expansions to reinforce their positions in the global market space.
Grand View Research has segmented the global metallic stearate market on the basis of product, application, and region:
Metallic Stearate Product Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Metallic Stearate Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Building & construction
Paints & coatings
Metallic Stearate Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Central & South America
Middle East & Africa
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