Metallic Stearates Market is growing at an exponential rate according to a report published by Market Research Future (MRFR) and is assessed to value at USD 4,343.4 million by 2023 at a 5.71% CAGR over the forecast period of 2018 to 2023
Metallic stearates can be defined as compounds of long-chain fatty acids with various metals of different valences and are commonly referred to as salts or soaps. The essential metallic stearates, in terms of quantity, are the metallic stearates of aluminum, calcium, magnesium, and zinc. The main advantage of metallic stearates is their multi-functional usage such as water repellency, gelling capacity, stabilizing effect, foam inhibition, acid scavenger and it also contains lubricating properties, separating properties, and a relatively high melting point.
A significant factor driving the demand and influencing the growth of the global metallic stearates market is the growing usage of metallic stearates in the plastic, and rubber industry, to improve the surface texture of plastic and reduce friction, and to prevent the rubber from sticking to the mold or to itself.
The metallic stearates market is directly influenced by growth in the plastic and rubber industry. Hence, additional factors influencing the growth of the market is the massive rise in the global rubber demand, which is estimated to surpass 35 million tons by the end of 2019, according to the International Rubber Study Group (IRSG).
On the other hand, the issues regarding the filterability of the chemicals using metallic stearate and corrosion concerns due to the use of metallic stearates are restraining factors of the market.
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The leading market players in the Global Metallic Stearates Market are Dover Chemical Corporation (U.S.), Akrochem Corporation (U.S.), PMC Biogenix, Inc (U.S.), Valtris Specialty Chemicals (U.S.), James M. Brown Ltd (UK), Baerlocher GmbH (Germany), Peter Greven GmbH & Co. KG (Germany), FACI SPA (Italy), PROMAX Industries ApS (Denmark), Nimbasia (India), Marathwada Chemicals (India), Lumega Industries (India), Sun Ace Kakoh (Pte.) Ltd (Singapore), IRRH SPECIALTY CHEMICALS (South Korea), and Sinwon Chemical Co., Ltd (South Korea).
The global Metallic Stearates Market is segmented based on product, application, and region.
Based on the product, the global market has been segmented into zinc, aluminum, magnesium, and calcium. Among these, the zing stearate segment has been assessed to lead the market share at a steady CAGR of 6.7% over the forecast period and is estimated to report a valuation of USD 1,982 million by the end of 2023, due to its high demand and growing usage in various industries for its superior properties. Zinc stearate is used in the cosmetic industry as a thickener and lubricant, as a pigment dispersant in masterbatch and, as a stabilizer in polyvinyl chloride manufacturing. Zinc stearate segment is followed by the aluminum stearate segment, which is estimated to showcase substantial growth through the forecast period due to its growing usage in the manufacturing of paint and coatings, additives, and the construction industry.
Based on application, the Global Metallic Stearates 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 has been assessed to lead the market growth and reach a valuation of USD 1,695 million by 2023, due to the high usage of metallic stearates as a neutralizer, and stabilizer. The pharmaceuticals and cosmetics segment is expected to value at USD 683 million by the end of the forecast period.
The Global Metallic Stearate Market has been segmented based on region into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Browse the market data and information spread across 138 pages with 169 data tables and 22 figures of the report “Metallic Stearate Market Report – Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/metallic-stearates-market-4901
Asia Pacific region has been evaluated as the leading regional Metallic Stearates Market growing at a high CAGR of 6.5% during the forecast period and is assessed to report a valuation of USD 2,200 million by 2023.
Emerging economies such as China and India have a significant contribution towards the market growth owing to the rapid industrialization, along with a rise in construction initiatives. Additionally, the massive demand and manufacturing of lightweight, fuel-efficient automobiles have risen to the demand for polymer, which consequently impacts the growth of the global metallic stearate market.
North America is the second largest regional Metallic Stearates Market and has been assessed to report significant growth at a 4.82% CAGR, owing to the massive demand from the cosmetic industry, affected by the rise in the disposable income of the consumers. The U.S.
Europe and Middle East & Africa are also expected to have a substantial contribution towards the market growth of the Metallic Stearates Market over the forecast period.
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