Asia Pacific Isostearic Acid Market Size & Outlook
Asia Pacific isostearic acid market, 2018-2030 (US$M)
Related Markets
Asia Pacific isostearic acid market highlights
- The Asia Pacific isostearic acid market generated a revenue of USD 81.2 million in 2023.
- The market is expected to grow at a CAGR of 7.3% from 2024 to 2030.
- In terms of segment, chemical esters was the largest revenue generating application in 2023.
- Lubricant and Greases is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 81.2 million |
| Market revenue in 2030 | USD 132.9 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Chemical esters |
| Fastest growing segment | Lubricant and Greases |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Personal Care, Chemical Esters, Lubricant and Greases, Other Applications |
| Key market players worldwide | Croda International PLC, Euronav NV, Nissan Chemical Corp, PTT Global Chemical PCL ADR, Kuala Lumpur Kepong Bhd, Sana Biotechnology Inc Ordinary Shares |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 28.4% of the global isostearic acid market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 159.2 million by 2030.
Chemical esters was the largest segment with a revenue share of 37.81% in 2023. Horizon Databook has segmented the Asia Pacific isostearic acid market based on personal care, chemical esters, lubricant and greases, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of isostearic acid market in Asia Pacific is primarily driven by the increasing demand for personal care products in the region. Emerging economies such as China, India, and Indonesia in Asia Pacific are witnessing surged consumption of personal care products meant for hygiene, skincare, hair care, etc., thereby contributing to the growth of the market in the region.
The middle-class population in China and India is experiencing rapid expansion, accompanied by an increase in per capita disposable income, is driving the growth of the market in these countries. This trend is anticipated to impact the demand for isostearic acid in Asia Pacific significantly during the forecast period.
Moreover, consumers in the region are increasingly aware of the benefits of naturally derived and biobased raw materials in product formulations. This leads to a rise in demand for isostearic acid derived from natural and renewable sources for use in personal care products.
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Isostearic Acid Market Scope
Isostearic Acid Market Companies
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Asia Pacific isostearic acid market size, by country, 2018-2030 (US$M)
Asia Pacific Isostearic Acid Market Outlook Share, 2023 & 2030 (US$M)
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