A new research report by Transparency Market Research gives an in-detail insight about the working dynamics of the global stearates market. The report states that the competitive landscape of the global stearates market is quite fragmented because of the presence of several key players. These leading companies in the global market are concentrating on developing newer technologies. A key trend that is being observed with respect to the competitive landscape of the market is the significant increase in investments or funding for research and development activities. The investment is mainly utilized for developing new products and creating a stronger brand identity. With an objective to strengthen their delivery and value chain, the leading companies in the global stearates market are opting for strategic joint ventures and partnerships with local players. Some of the leading names in the global stearates market are Hallstart Company, Dover Chemical Corporation, Petere Greven GmbH & Co. KG, and Baerlocher GmbH among others.
As per the research report, the global stearates market is expected exhibit an impressive CAGR of 5.0% over the duration of the forecast period ranging from 2014 to 2020. Initially, in 2013, the global stearates market was valued at US$3.55 bn. With the give rate of growth, it is projected that the new valuation of the market will be around US$4.99 bn by the fall of 2020. The growth of the global stearates market is primarily driven by the demand from the end-user segment. One of the biggest end-user segment is the rubber and plastic processing industry.
Increasing End-use Application Sectors to Propel Market Growth
There are several factors that are helping to drive the overall development of the global stearates market. One of the key driving factor for the growth of the market has been the growing demand from the rubber and plastic processing sector. It is widely known that metallic stearate helps in gelling and stabilization of wide range of molded products. It is also known to operate as an acid scavenger at the time of compounding and processing of plastics. Such wide range of applications of stearates is thus creating a lot of demand from the rubber and plastic processing sector.
In addition to this, in recent years, there has been a considerable rise in applications and demand of stearates from various other end-use sectors. Some of the other prominent end-use applications segments are construction, pharmaceutical, textile, and personal care.
Asia Pacific to Continue its Global Domination
In terms of geographical segmentation, the global stearates market is divided into five major segments. These are North America, Middle East and Africa, Latin America, Europe, and Asia Pacific. Currently, the global stearates market is dominated by the Asia Pacific segment. The segment accounts for around 45% of the overall share of the global market. The growth of the regional segment is driven by the booming rubber and plastic processing industry in the region. There has been a growing demand for such processed rubbers and plastics from the construction industry in developing nations such as India and China. Thus, the stearates market is experiencing a positive growth in Asia Pacific.
Market Segmentation is as follows:
Product Segment Analysis
- Calcium stearate
- Sodium stearate
- Zinc stearate
- Magnesium stearate
- Aluminum monostearate
- Others (Including lithium stearate, etc.)
- Plastic & rubber processing
- Building & construction
- Paints & coatings
- Others (Including paper & pulp, etc.)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC