Metallic Stearates Market to Perceive Heavy Growth with A Substantial CAGR of 5.71% to reach USD 4,343.4 million by 2023: MRFR
The global metallic stearates market is expected to register a CAGR of 5.71% to reach USD 4,343.4 million by 2023. Metallic stearates are referred as salts or soaps produced from the reaction between stearic acid and metal salts.
Pune, India – June 11, 2019 /MarketersMedia/ —
Market Research Future published a half-cooked research report on “Global Metallic Stearates Market Research Report – Forecast to 2023”- Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The global metallic stearates market is expected to register a CAGR of 5.71% to reach USD 4,343.4 million by 2023.
Metallic stearates 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.
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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.
Key Players:
PMC Group, Inc. (US.), James M. Brown Ltd. (UK), Dover Chemical Corporation (US.), FACI SPA (Italy), Baerlocher GmbH (Germany), Peter Greven GmbH & Co. KG (Germany), Sun Ace Kakoh (Pte.) Ltd (Singapore), Valtris Specialty Chemicals (US), Nimbasia (India), and IRRH Specialty Chemicals (India) are some of the prominent players operating at the forefront of the competition in the Global Metallic Stearates Market and are profiled in MRFR Analysis.
Industry/ Innovations/ Related News:
October 12, 2017: Peter Greven Group (UK), one of the leading producers of oleochemicals additives announced the acquisition of Norac Additives LLC. (US), a leading global provider of metallic stearates and calcium-zinc heat stabilizers to pursue its expansion plans in North America. The acquisition is expected to hike-up Peter Greven Group’s profile in North America’s plastics additives market, allowing it to further focus on its sales in pharmaceutical, food and cosmetic applications in the region.
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).
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.
Global Metallic Stearates Market – Segments:
The MRFR analysis is been segmented into three key dynamics for the convenience of understanding;
By Products: Magnesium, Aluminum, Zinc, and Calcium among others {Alkali Stearates (lithium stearates, sodium stearates, and sodium oleates)}.
By Application: Plastics, Rubber, Cosmetics, Building & Construction, Coatings, and Pharmaceuticals among others.
By Region: North America, Europe, APAC and Rest-of-the-World.
Global Metallic Stearates Market – Regional Analysis :
Regional Analysis:
Asia-Pacific is expected to be the prominent regional market in the global metallic stearates market. The regional market is projected to reach USD 2,200 million by 2023 at the highest CAGR of 6.5% during the forecast period. China and India are expected to be the leading markets owing to the increasing construction activities with rapid industrialization. Moreover, increasing the sale of lightweight and fuel-efficient automobiles is likely to drive the demand for polymer, which is another factor influencing the demand for metallic stearates.
The North American market accounted for 19.8% market share and estimated to register a CAGR of 4.82% during the assessment period. Besides, the Middle East & African market is projected to exhibit substantial growth during the forecast period of 2018 to 2023.
Global Metallic Stearates Market – Competitive Landscape:
The market appears to be highly fragmented and competitive with the presence of several well-established players having the regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. They strive to develop metallic stearates designed to reduce the downtime and maintenance with longer life and lower costs. The market is projected to witness fierce competition owing to the expected extensions in product and innovations.
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