LOS ANGELES, April 18, 2019 (GLOBE NEWSWIRE) -- The global Metallic Stearate Market is forecasted to grow at a stable CAGR around 5.3 % during the forecast period and reach around US$ 5.21 billion by 2026.
The increasing demand for products in the rubber and plastics industries is driving the market. The most important market growth contributors have been thermoplastics, such as polyethylene, polypropylene, polyvinyl chloride, polystyrene, terephthalate of polyethylene, expanded polystyrene, ABS, SAN and polyamides. Plastics include primary application of films, sheets, boxes, strips, foils and bottles. The most important end user industries that consume plastics are packaging, building-construction, automotive, electronic, electrical, and consumer goods. This is projected to drive the metal stearate market over the predicted period as a result of the large increase in plastics and plastic-based products production.
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The strong presence in China, Japan and South Korea of automotive manufactures has increased the requirements for synthetic rubber. The main synthetic rubber producers seemed to be China and South East Asian countries. The demand for rubber in tire applications has driven forward future growth in the car industry. The demand for metal stearates in the coming years is expected to grow substantially in rubber production.
Progress in technology will probably continue to drive market growth. In the production of metal stearate different types of techniques are used. Using Langmuir−Blodgett (LB) techniques, nanofilms of metal Stearates can be produced. The films are marked by the technology of X-Ray diffraction. The conduction of films is affected by environmental conditions and can therefore be used as a humidity sensor.
The factors expected to drive the market are growing health concerns, demographic and lifestyle change, favorable research studies and innovative manufacturing techniques. The market participants are projected to provide substantial opportunities for growth over the next years in order to meet the increasing demand for product in Asia Pacific and North America.
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Plastics emerged as the largest application segment in terms of volume as well as revenue in 2018.
As far as volume and sales were concerned, plastics became in 2018 the largest application segment. Metal stearates are mainly used by the plastics industry as lubricants, acid scavengers and discharge agents. In the melting process, it also plays a vital role. Its use enables manufacturers to make products with smoother surfaces and reduced fricción more efficient. The second largest segment of applications was Rubber. Metal stearates provide the ideal properties for rubber releases. The transmission molding, molding and extrusion processes are some of the processes used for the product. Major market players, such as Goodyear Tire & Rubber and Bridgestone, use metal stearate rubber tires during production. Metal stearates are mainly used in the formulation of makeup articles such as eyeshadows, eyeliners, lipsticks, mascaras, facial puffers, blushers and foundations for cosmetics and personal care products. They are also applied in deodorants, fragrances, products for hair and skin care. The product is also used in shampoos, solar shielding lotions, medicated ointments, foot and body powders, etc.
Asia Pacific Is Expected To Exhibit the Highest Growth Followed By North America Metallic Stearate Market
Geographically, the global Metallic Stearate market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific emerged as the largest regional market in 2018. The second largest regional market has emerged in North America. The demand for products from countries including the US and Canada was fueling by high demand from the cosmetic and pharmaceutical industries. Increased R&D activities on metallic stearates are anticipated in future years to fuel regional product demand for the development of efficient commodity applications in commercial sectors.
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Major Players
The Metallic Stearate market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Valtris Specialty Chemicals, Peter Greven GmbH & Co., Dover Chemical Corporation. Faci S.p.A, NoracAdditives, KG Baerlocher, GmbH. among others.
The key players are positively affected by product differentiation and expansion. Manufacturers are focused on developing surface - enhanced products. One of the main areas where manufacturers focus on production is the addition of stearic acid based on vegetable oil.
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