The global stearic acid market size was relatively large in 2020 and is expected to register double-digit revenue CAGR over the forecast period. Major factors driving market revenue growth include increasing adoption in a wide range of application areas such as dietary supplements, candle manufacturing, metal processing, and pharmaceuticals. Increasing consumer awareness about the benefits of dietary supplements to improve health and wellness is another factor boosting demand for stearic acid in various industries. In this report, our team of market researchers has highlighted the key market dynamics such as market revenue growth drivers, restraints, trends, opportunities, supply & demand ratios, shifting consumer tastes & preferences, changing production & consumption patterns, and technological breakthroughs. Key challenges and barriers to industry growth, such as stringent government regulations and policies and potential market threats and risks, have also been assessed in the report.

increasing adoption in a wide range of application areas such as dietary supplements, candle manufacturing, metal processing, and pharmaceuticals. Increasing consumer awareness about the benefits of dietary supplements to improve health and wellness is another factor boosting demand for stearic acid in various industries. Furthermore, expanding use of organic chemicals in personal care goods is expected to continue to support market growth going ahead. Stearic acid also has surfactant and cleaning properties, which aid in the removal of oil and dirt, making it a valuable raw material in the manufacture of soaps and detergents. Rising disposable income combined with improving standards of living and changing lifestyle are key factors expected to drive growth of the market.

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Leading Players–  BASF, AkzoNobel, and Wilmar are working to diversify their product portfolios and gain a competitive edge in fast-developing Major players in the market include The U.S. Chemicals LLC., BASF, AkzoNobel, Emery Oleochemicals, Wilmar International, Godrej Industries, Oleon, Pacific Oleo Chemicals Sdn Bhd, Kao Chemicals, and Kuala Lumpur Kepong (KLK).

Key Factors Driving the Global Materials & Chemicals Market Growth

The global materials & chemicals market revenue is primarily attributed to factors such as growth are fast-paced industrialization globally, rising demand for raw materials and chemicals in the buildings & construction, food & beverage, pharmaceutical, agriculture, textile, and pulp & paper industries, and increasing demand for essential consumer goods including packaged foods & beverages, household hygiene products, and personal care products & cosmetics. Increasing industrial applications of specialty chemicals, surge in demand for high-performance, organic agrochemicals, growing environmental awareness among consumers, growing need for eco-friendly and sustainable raw materials & chemicals, and increasing government investments in the materials & chemicals industry are other factors driving revenue growth of this market.

Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Feedstock Outlook (Revenue, USD Billion; 2018 – 2028)

• Animal-based Raw Materials
• Vegetable-based Raw Materials

Application Outlook (Revenue, USD Billion; 2018 – 2028)

• Soaps and Detergents
• Personal Care
• Textiles
• Lubricants
• Rubber Processing
• Other Applications

Frequently Asked Questions Addressed in the Report:

• What is the estimated market revenue growth over the forecast period?
• What are the major factors driving the global Stearic Acid market revenue growth?
• Which regional market is expected to account for the largest revenue share in the global Stearic Acid market over the forecast years?
• Which are the leading players in the global Stearic Acid market?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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