The global metallic stearate market is expected to reach USD 4.84 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.5% during the forecast period. Growing rubber and plastics industry is projected to drive the product demand.
Thermoplastics such as polyethylene, polypropylene, polyvinyl chloride, polystyrene, polyethylene terephthalate, expanded polystyrene, ABS, SAN, polyamides, fluoropolymer, and polycarbonate were the key contributors to the market growth. Primary applications of plastics include films, sheet, plates, boxes, strip, foil, and bottles. Packaging, building and construction, automotive, electronic, electrical, and consumer goods are the leading end-user industries that consume plastics. As a result, the prolific increase in plastics and plastic-based articles production is anticipated to drive the metallic stearate market over the forecast period.
The strong presence of automotive manufactures in China, Japan, and South Korea has boosted the demand for synthetic rubber. China and South East Asian countries appeared to be the major producers of synthetic rubber. Prospective growth in the automotive industry has propelled the demand for rubber in tire applications. A sizeable increase in rubber production is anticipated to fuel the demand for metallic stearates over the next few years.
Technological advancements are likely to continue driving the market growth. Various types of techniques are used in metallic stearate production. Nanofilms of metallic stearates can be produced using Langmuir−Blodgett (LB) techniques. The films are characterized by X-Ray Diffraction technique. The conductive properties of films are altered with environmental conditions; as a result, they can be used as a humidity sensor
Rising health concerns, altering demographics and lifestyles, favorable research studies, and innovative production techniques are the factors projected to drive the market. Investments and business expansions made by market participants to meet the increasing product demand in Asia Pacific and North America are projected to offer substantial growth opportunities over the next few years.
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Further key findings from the report suggest:
In terms of revenue, the zinc product is expected to expand at a CAGR of 5.5% over the forecast period
Plastics led the application segment with a market share of over 30% in 2018
Increasing purchasing power parity and demand for cosmetics is projected to drive the metallic stearate market over the forecast period
Some of the key participants are Dover Chemical Corporation, Valtris Specialty Chemicals, Peter Greven GmbH & Co. KG, Baerlocher GmbH, Faci S.p.A, and Norac Additives.
Grand View Research has segmented the global metallic stearate market on the basis of product, application, and region:
Metallic Stearate Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Metallic Stearate Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Building & construction
Paints & coatings
Metallic Stearate Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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