South Korea Isostearic Acid Market Size & Outlook
South Korea isostearic acid market, 2018-2030 (US$M)
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South Korea isostearic acid market highlights
- The South Korea isostearic acid market generated a revenue of USD 10.2 million in 2023 and is expected to reach USD 16.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.5% 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.
Isostearic acid market data book summary
| Market revenue in 2023 | USD 10.2 million |
| Market revenue in 2030 | USD 16.9 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Chemical esters |
| Fastest growing segment | Lubricant and Greases |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, South Korea accounted for 3.6% of the global isostearic acid market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China isostearic acid market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 40.5 million by 2030.
Chemical esters was the largest segment with a revenue share of 38.24% in 2023. Horizon Databook has segmented the South Korea 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 cosmetics and personal care industries are key consumers of isostearic acid in South Korea. This country has a flourishing cosmetics and personal care industry known as K-beauty, which has gained global recognition.
Isostearic acid is a common ingredient in cosmetic, hair care, and skincare products. The growing focus of international and domestic customers on grooming, skincare, and beauty products is expected to drive demand for isostearic acid in South Korea during the forecast period.
Moreover, the emergence of the country as a manufacturing hub is expected to surge the demand for specialty chemicals such as isostearic acid in South Korea to support its diverse industries such as adhesives, lubricants, coatings, and pharmaceuticals.
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Isostearic Acid Market Scope
Isostearic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea isostearic acid market size, by application, 2018-2030 (US$M)
South Korea Isostearic Acid Market Outlook Share, 2023 & 2030 (US$M)
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