Albany, NY -- (SBWIRE) -- 09/21/2017 -- According to the latest market study released by Transparency Market Research (TMR), which is on the global stearates market, the market is slated to display a CAGR of 5.0% from 2014 to 2020. If the projected figure holds true, the market, which had a valuation of US$3.55 bn in 2013, will be valued at US$4.99 bn by 2020. The research report is titled "Stearates Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" and provides an in-depth analysis of the stearates market in terms of both revenue and volume. The research report also includes current demand analysis and forecast estimates for the various product segments and end users in Europe, Asia Pacific, North America, and Rest of the World.
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The report states that the market for stearates is mainly driven by the increasing demand for additives in the plastic and rubber processing industry, combined with the increasing demand for stearates in the construction sector. In addition, the use of stearates also lies as an acid scavenger in the processing and compounding of plastics. In the process, stearates increase throughput and enable the formation of clean and low-friction surfaces.
In the coming years, increasing demand for stearates from the personal care, pharmaceutical, and textile industries across the world will open newer opportunities for the stearates market, say analysts.However, price volatility of raw materials used in the manufacture of stearates, combined with strict regulations pertaining to the use of stearates due to environmental concerns, is slowing the growth of this market.
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The global market for stearates is divided on the basis of product type, application, and geography. By product type, calcium stearate, zinc stearate, aluminum monostearates, sodium stearate, magnesium stearate, and others (including lithium stearate, etc.) are the segments of the stearate market.By product type, sodium stearate was the largest product segment and held more than 25% of the overall market for stearates in 2013. Calcium stearate stood as the second largest product segment due to its excellent lubrication and releasing properties, which are suitable in plastic and rubber processing.
However, magnesium stearate is expected to display the fastest growth in the global stearates market during the forecast period. In the pharmaceutical industry, magnesium stearate is used as a lubricant and process catalyst during the formulation of tablets and dietary supplements. In terms of demand from end users, the plastic and rubber processing industry has been registering the highest demand for stearates over the past few years. This is mainly due to their use as an anti-tacking agent to maintain consistent movement of the substrate in rubber processing. In 2013, the building and construction sector registered the second largest demand for stearates. Their use lies in functioning as a water repellant in cement and mortar and to offer hydrophobic properties to buildings.
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