Isostearic Acid Market Growth & Trends
The global isostearic acid market size is expected to reach USD 491.9 million by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2023 to 2030. Rising demand for personal care products mainly in Asia Pacific and Europe is anticipated to propel the global isostearic acid market. Growing bio-ingredient-based product demand on account of rising consumer awareness regarding the hazardous nature of products derived from petrochemicals is also likely to have a positive impact on growth. The increasing price of isostearic acid due to its limited supply is anticipated to hinder the growth.
Isostearic acid’s odor and oxidation stability make it an ideal ingredient for personal care products. Applications for personal care products include hair care, skin care, liquid soaps, shower & bath products, lip-color cosmetics, and sun protection creams. The isostearic acid ingredient acts as an emulsifier, cleaning agent, or emollient depending upon the personal care product type. Increasing awareness among consumers regarding the benefits of bio-based products coupled with a growing health concern is also anticipated to propel the demand for isostearic acid during the forecast period.
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In Europe, Stringent environmental regulations to reduce greenhouse gases (GNG) in the atmosphere are also expected to have a positive influence on growth. Bio-lubricant-based hydraulic oil is extensively used across various end-use applications in Europe followed by bio-based chainsaw oils. Germany dominated the bio-lubricant market over the past few years. The European Commission launched a Lead Market Initiative which is expected to foster the growth of the bio-based products sector by using demand-side innovation policy tools.
The outbreak of COVID-19 had an adverse impact on the growth of the isostearic acid market. The market witnessed a colossal downfall in revenue during the pandemic in the year 2020. Rising cases of COVID-19 led to strict border restrictions, thereby, impacting the supply chain of the chemical industry. The temporary shutdown of manufacturing facilities made it difficult for market players to witness positive revenue growth, as a result, the market witnessed a revenue slump in 2020.
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Isostearic Market Segmentation
Grand View Research has segmented the global isostearic acid market report based on basis of application and region:
Isostearic Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
Personal Care
Chemical Ester
Lubricant and Greases
Others
List of Key Players in Isostearic Acid Market
Croda International
Arizona Chemicals
Oleon NV
Nissan Chemicals
Emery Oleochemicals
Jarchem Industries, Inc.
KLK EMMERICH GmBH
Santa Cruz Biotechnology, Inc.
Vantage Specialty Chemicals
Foreverest Resources Ltd.
SysKem Chemie GmbH
Kraton Corporation
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