Metallic stearates Market, are used in paints and coatings since decades where they are added to pigments to keep it separating from oil in the tube thus to stop synthetic fat from forming soap when binding with substances like pigments. Metallic stearates are also used as lubricants, process aids and mold release agents for a wide variety of plastics manufacturing. Besides, they find a broad application scope in the production of rubber, pharmaceuticals cosmetics, building & construction, coatings, and others.
It is needless to say that Metallic Stearates witness a vast uptake and demand from several burgeoning industries such as automotive, and constructions among others. Which works as a key driving force for the market growth of Metallic Stearates. Additionally, increasing use of these substances in the production of rubber and plastics along with the augmenting demand from automotive & aerospace sector is escalating the market growth on the global platform.
Acknowledging the massive traction that market is perceiving currently, Market Research Future (MRFR) in its recently published study report mentions that the already booming global metallic stearates market is expected to garner further prominence over the assessment period. The market is estimated to demonstrate a voluminous growth by 2023, registering a striking CAGR during the estimated period (2016 – 2023).
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Additional factors substantiating the market growth include technological advancement and the rapid urbanization that is prompting the continuous growth of building & construction sector, growing with the increasing population and improving economic conditions that are enhancing consumers’ purchasing power.
On the flip side, fluctuating prices and demand and supply gap of feedstock necessary for the production of these products are some of the key factors obstructing the market growth. Conversely, the rise in the consumption of these products as impermeable agent and anti-caking agent in the burgeoning building & construction sector along with the increasing construction activities in the developed and developing regions is expected to provide impetus to the market growth to an extent.
the key players in the global metallic stearates market.
Chemical Corporation (US)
Baerlocher GmbH (Germany)
FACI SPA (Italy)
Peter Greven GmbH & Co. KG (Germany)
Valtris Specialty Chemicals (US)
Sun Ace Kakoh (Pte.) Ltd (Singapore)
Nimbasia (India)
Marathwada Chemicals (India)
IRRH SPECIALTY CHEMICALS (South Korea)
Akrochem Corporation (US)
Lumega Industries (India)
PMC Biogenix
Inc (US)
James M. Brown Ltd. (UK)
Sinwon Chemical Co.
Ltd (South Korea)
and PROMAX Industries ApS (Denmark)
Segment Analysis
The global metallic stearates market has been segmented on the basis of product, application, and region.
On the basis of product, the global market has been categorized into zinc, aluminum, magnesium, and calcium. Among these, the zinc stearate segment dominated the global market in 2017. This is attributed to the growing use in cosmetics as thickeners and lubricants. They act as a pigment dispersant in masterbatch and used as a stabilizer in the production of polyvinyl chloride. Due to the widespread use of zinc stearates and superior properties, their demand is expected to increase during the forecast period. Aluminum stearates is another prominent segment expected to exhibit significant CAGR owing to the growing use in the paint and coatings, additives, and construction industries.
Based on application, the global market has been segmented into rubber, polymer and paper, pharmaceuticals and cosmetics, building and construction, paints and coatings, and others. Among these, the rubber segment is expected to reach USD 1,695 million by 2023 due to the growing need for tires for convenient transportation and rapid development in the automotive industry.
Regional Analysis
Globally, the Asia Pacific region accounts for the largest market for Metallic Stearates. Owing to the expansion of various end-use applications such as building & construction and plastics among others, the APAC market is further estimated to post the highest CAGR during the forecast period, (2016 to 2023).
Markets in some of the APAC countries such as China, South Korea, India, Japan, Vietnam, and Malaysia are expected to witness huge demand for the product due to the increasing approvals of the large-scale residential, commercial, as well as industrial construction projects. Additionally, a significant rise in the automotive production & sales, backed by the improving economic conditions, is substantiating the market growth to an extent, registering an augmenting demand for the product.
Furthermore, ample availability of cost-competitive raw material, labor force, and land along with the rising development strategies that are sufficing the demand for Metallic Stearates in the increasing applications are some of the key driving forces substantiating the market growth in the region.
North America metallic stearates market is emerging as another lucrative market, following the APAC market closely. Attributing to the resurge of industrial sector combined with escalating investments to revitalize the rubber and plastic industry especially, the region is expected to witness a fabulous growth throughout the forecast period.
The continuous expansion of pharmaceutical and coatings sector, especially in the US and Canada, is entitling these countries as the major contributors to the market growth in the region, witnessing a significant market growth.
Europe region is too growing as one of the promising markets for metallic stearates. Markets in some of the European countries such as Poland, Russia, France, Germany, Italy, and the UK is growing significantly owing to the extensive uptake of the product in some of the well-penetrated end-use industries and substantial investments in R&D and innovation activities.
Latin American countries such as Brazil, Mexico, Argentina, and Colombia are also estimated to perceive a moderate growth, with the rising expenditures on cosmetics and lifestyle products.
On the other hand, metallic stearates market in the Middle East & Africa is projected to perceive a steady growth during the forecast period. The growing investments in residential as well as commercial construction sector, especially in some of the GCC countries such as Qatar, Oman, Saudi Arabia and the United Arab Emirates (UAE) is expected to impact the market growth in the region positively.
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Key Findings of the Study:
- The global metallic stearates market is projected to reach USD 4,343.4 million by 2023 at a CAGR of 5.71% during the review period of 2018 to 2023.
- Asia-Pacific accounted for the largest market share with China being the major contributor to the growth of the regional
- Some of the prominent players in this market are Dover Chemical Corporation (US), Baerlocher GmbH (Germany), FACI SPA (Italy), Peter Greven GmbH & Co. KG (Germany), Akrochem Corporation (US), and PMC Biogenix, Inc (US), among others.
- The key manufacturers are adopting expansion and collaborations as growth strategies.
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