Stearic Acid Market Size, Share & Trends Analysis Report By Application (Soaps & Detergents, Intermediates, Personal Care, Rubber Processing, Textile, Lubricants, Others), By Region, And Segment Forecasts, 2024 - 2030

Stearic Acid Market Size & Trends

The global stearic acid market size was valued at USD 11.24 billion in 2023 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. The market growth is driven by the increasing applications of stearic acid across various industries, including detergents, lubricants, soaps, and personal care. The broad range of applications has sparked global interest, leading to substantial investments in research and development activities. This, in turn, is enhancing production and supply chain processes, increasing competition, and propelling market growth.

The growing awareness of personal hygiene and the importance of clean surroundings are major factors driving the demand for stearic acid. This is due to its extensive use in personal hygiene products such as baby care items, moisturizers, emulsifiers, surfactants, and more. Furthermore, the emulsifying properties of stearic acid make it a crucial ingredient in cleaning products such as detergents, soaps, and fabric softeners. The expansion of the personal hygiene and cleaning products market is expected to significantly increase the demand for stearic acid.

Environmental concerns and the push to reduce carbon emissions and dependence on petrochemicals are fueling the demand for sustainable solutions. Products such as stearic acid, derived from natural sources such as coconut and palm oil, are biodegradable and are gaining traction as alternatives that align with sustainability goals.

Application Insights

The soap & detergents segment dominated the market with a revenue share of 27.9% in 2023 pertaining to the multifunctional nature of stearic acid, which serves as a stabilizer, thickening agent, and emulsifying agent. The increasing support from regulatory bodies for the adoption of natural soaps and detergents due to environmental and health concerns is driving the demand for biodegradable stearic acid products. This trend is encouraging manufacturers to use stearic acid as an alternative in soap and detergent production. The rising awareness about skin health is prompting brands to adhere to safety standards while maintaining quality, leading to product innovation and impacting the demand for stearic acid.

The personal care segment is anticipated to witness the fastest growth at a CAGR of 5.8% over the forecast period from 2024 to 2030.  The growth drivers for this segment are expected to be the rising disposable incomes in many developed and developing nations, which increases the demand for skincare and beauty products, thus expanding the overall cosmetics industry and impacting the growth of products in this segment. The overall growth of the industry is intensifying competition, leading to changing regulatory support and safety standards to address sustainability issues, innovative product development due to rising competition, and pricing competition. These factors are significantly influencing the demand for stearic acid and are expected to contribute to the significant growth of this segment in the forecast years.

Regional Insights

North America stearic acid market growth can be attributed to a combination of factors such as the rising demand for cosmetics and personal care products, the expansion of food industries, the growth of various industrial sectors such as plastics manufacturing and rubber processing, and government initiatives promoting the use of stearic acid. These factors are impacting the sales of stearic acid across these industries, thus expected to drive the overall market growth in the region in the coming years.

U.S. Stearic Acid Market Trends

The U.S. stearic acid market dominated North America in 2023 due to innovations in manufacturing processes and technological advancements leading to efficient stearic acid production with competitive pricing for local industries. Furthermore, the rapid expansion of the detergents and cleaning industry is surging the demand for stearic acid, thus propelling the market in the country.

Canada stearic acid market is expected to witness significant growth from 2024 to 2030. The growth of the market in the country is influenced by the expanding automotive industry, where stearic acid plays a crucial role as a lubricant in automotive applications, significantly shaping the market. Additionally, advancements in pharmaceutical and food industry applications are also significantly influencing the market in the country.

Europe Stearic Acid Market Trends

Europe stearic acid market had a substantial market share in 2023 and is expected to grow significantly over the forecast period.  The growth drivers for this market are expected to be the rising demand in end-use industries, increasing concerns about sustainability leading to the adoption of eco-friendly products such as stearic acid, and the recovery of key manufacturing industries such as consumer goods and automotive. These factors are positively impacting the sales of stearic acid, thus significantly driving the market growth.

The UK stearic acid market dominated Europe in 2023 influenced by a combination of factors, including the growing demand from the personal care industry, technological advancements, and increasing consumer awareness of health benefits. These factors are driving the demand for stearic acid products and substantially propelling the market growth in the country.

Asia Pacific Stearic Acid Market Trends

Asia Pacific stearic acid market held majority of the global market with a share of 41.6% in 2023 pertaining to the increasing demand from the cleaning and detergent industry, rapid urbanization, and population growth, which are driving consumption and surging the demand for these products. Rising disposable incomes and the expansion of key industries in the market also contribute to the market growth.

China stearic acid market held a significant revenue share in Asia Pacific in 2023 attributed to the extensive industrial applications of stearic acid products, the expanding food industry, the growing cosmetics industry, and the burgeoning personal care sector, all of which are significantly driving the market in the country.

Key Stearic Acid Company Insights

Some of the key companies in the stearic acid market include 3F industries, Emery oleochemicals, New Japan Chemicals, and many other companies. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies. 

• Emery Oleochemicals, LLC is a global producer specializing in the manufacture of high-quality oleochemical products, including stearic acid, derived from renewable sources. Their stearic acid offerings cater to a wide range of applications such as personal care, industrial, and automotive sectors, highlighting their commitment to sustainability and innovation in the oleochemical market.

• 3F Industries Limited is a player in the chemical industry, known for its production of stearic acid and other fatty acids derived from natural oils. Their stearic acid products serve diverse applications, including in the cosmetics, pharmaceuticals, and manufacturing sectors, underscoring their role in delivering high-quality, sustainable solutions to meet market demands.

Recent Developments

• In February 2024, the Solvent Extractors’ Association of India (SEA) petitioned the Government of India to impose restrictions on the import of finished oleochemical products. Citing the surge in duty-free imports of stearic acid from Southeast Asia, the SEA expressed concerns over the detrimental impact on the domestic oleochemical industry.

Stearic Acid Market Report Scope

Global Stearic Acid Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global stearic acid market report based on application and region. 

• Application Outlook (Volume, Kilo Tons, Revenue, USD Millions, 2018 - 2030)

  • Soaps & Detergents

  • Intermediates

  • Personal Care

  • Rubber Processing

  • Textile

  • Lubricants

  • Others

• Regional Outlook (Volume, Kilo Tons, Revenue, USD Millions, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • Saudi Arabia

    • South Africa