Global Stearates Market: Snapshot
Stearates, which are salts or esters of fatty acids, are produced via direct reaction of stearic acid with hydroxides and metal oxides. Stearates find application in different industries on account of their excellent lubricating properties, ability to thwart foam, gelling capacity and water repellence. They also act as acid scavengers and release agents.
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At the forefront of driving demand for stearates is the soaring demand for additives in the plastic and rubber processing industry. They also act as acid scavenger in the processing and compounding of plastics. In the process, stearates up throughput and facilitate the formation of clean and low-friction surfaces. Besides, industries such as construction, pharmaceutical, personal care, and textile are also catalyzing growth in its market.
A research study Transparency Market Research, forecasts the global market for stearates to expand at a 5.0% CAGR from 2014 to 2020 to reach a value of US$4.99 bn by 2020 from US$3.55 bn in 2013.
Buoyed by Pharmaceutical Industry, Magnesium Stearate to Clock Maximum Growth
The different types of stearates available in the market are calcium stearate, zinc stearate, sodium stearate, aluminum monostearates, and magnesium stearate, among others such as lithium stearate. Sodium stearate, among them, leads the market and is trailed by calcium stearate, which has excellent lubrication and releasing properties, making them perfectly suitable for rubber and plastic processing. Going forward, however, magnesium stearate will likely outpace all other products in terms of growth rate. Magnesium stearate finds application in the pharmaceutical industry as a lubricant and process catalyst during the formulation of tablets and dietary supplements.
The prominent end users in the global stearates market are the plastic and rubber processing industry. This is primarily because of their use as anti-tacking agents to maintain consistent movement of the substrate in rubber processing. The building and construction sector also accounts for substantial demand as stearates are used as water repellants in cement and mortar and also accord hydrophobic properties to buildings.
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Other important end use industries stoking demand for stearates are paints and coatings and paper and pulp. Some of the prominent companies in the market are Ferro Corporation, Baerlocher GmbH, FACI S.p.A., Norac Additives Inc., Hummel Croton Inc., Dover Chemical Corporation, Peter Greven GmbH & Co. KG, Mallinckrodt Pharmaceuticals, PMC Biogenix, Inc., and the HallStar Company.
Asia Pacific Leads Market on Account of Expanding Rubber and Plastic Industries
Geographically, the key segments of the global market for stearates are North America, Asia Pacific, Europe, and the Rest of the World which includes Latin America and the Middle East and Africa. Asia Pacific, among them, is a leading market. In 2013, it held more than 45% share in the overall market. Majorly boosting demand in the region is the rapidly expanding plastic and rubber processing and building and construction industries. China and India are the main engines of growth in the region because of the massive demand they generate.
In terms of demand, following Asia Pacific in the global stearates market is Europe. The region has been witnessing steady growth these days primarily on account of the pharmaceutical industry. One factor proving counterproductive to the market in the region is the environmental regulations pertaining to stearates.
Besides Asia Pacific and Europe, the market in North America too is predicted to see steady demand for stearates in the upcoming years on account of the building and construction industry. Expansion in the building and construction industry in the Middle East and Brazil is expected to catalyze growth in the market in the Rest of the World.
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