Market Research Future published a half-cooked research report on “Global Metallic Stearates Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Metallic stearates are used in paints and coatings since decades where they are added to pigments to keep it separating from oil in the tube thus to stop synthetic fat from forming soap when binding with substances like pigments. Metallic stearates are also used as lubricants, process aids and mold release agents for a wide variety of plastics manufacturing. Besides, they find a broad application scope in the production of rubber, pharmaceuticals cosmetics, building & construction, coatings, and others.
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It is needless to say that Metallic Stearates witness a vast uptake and demand from several burgeoning industries such as automotive, and constructions among others. Which works as a key driving force for the market growth of Metallic Stearates. Additionally, increasing use of these substances in the production of rubber and plastics along with the augmenting demand from automotive & aerospace sector is escalating the market growth on the global platform.
Acknowledging the massive traction that market is perceiving currently, Market Research Future (MRFR) in its recently published study report mentions that the already booming global metallic stearates market is expected to garner further prominence over the assessment period. The market is estimated to demonstrate a voluminous growth by 2023, registering a striking CAGR during the estimated period (2016 – 2023).
Additional factors substantiating the market growth include technological advancement and the rapid urbanization that is prompting the continuous growth of building & construction sector, growing with the increasing population and improving economic conditions that are enhancing consumers’ purchasing power.
On the flip side, fluctuating prices and demand and supply gap of feedstock necessary for the production of these products are some of the key factors obstructing the market growth. Conversely, the rise in the consumption of these products as impermeable agent and anti-caking agent in the burgeoning building & construction sector along with the increasing construction activities in the developed and developing regions is expected to provide impetus to the market growth to an extent.
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Global Metallic Stearates Market – Regional Analysis
Globally, the Asia Pacific region accounts for the largest market for Metallic Stearates. Owing to the expansion of various end-use applications such as building & construction and plastics among others, the APAC market is further estimated to post the highest CAGR during the forecast period, (2016 to 2023).
Markets in some of the APAC countries such as China, South Korea, India, Japan, Vietnam, and Malaysia are expected to witness huge demand for the product due to the increasing approvals of the large-scale residential, commercial, as well as industrial construction projects. Additionally, a significant rise in the automotive production & sales, backed by the improving economic conditions, is substantiating the market growth to an extent, registering an augmenting demand for the product.
Furthermore, ample availability of cost-competitive raw material, labor force, and land along with the rising development strategies that are sufficing the demand for Metallic Stearates in the increasing applications are some of the key driving forces substantiating the market growth in the region.
North America metallic stearates market is emerging as another lucrative market, following the APAC market closely. Attributing to the resurge of industrial sector combined with escalating investments to revitalize the rubber and plastic industry especially, the region is expected to witness a fabulous growth throughout the forecast period.
The continuous expansion of pharmaceutical and coatings sector, especially in the US and Canada, is entitling these countries as the major contributors to the market growth in the region, witnessing a significant market growth.
Europe region is too growing as one of the promising markets for metallic stearates. Markets in some of the European countries such as Poland, Russia, France, Germany, Italy, and the UK is growing significantly owing to the extensive uptake of the product in some of the well-penetrated end-use industries and substantial investments in R&D and innovation activities.
Latin American countries such as Brazil, Mexico, Argentina, and Colombia are also estimated to perceive a moderate growth, with the rising expenditures on cosmetics and lifestyle products.
On the other hand, metallic stearates market in the Middle East & Africa is projected to perceive a steady growth during the forecast period. The growing investments in residential as well as commercial construction sector, especially in some of the GCC countries such as Qatar, Oman, Saudi Arabia and the United Arab Emirates (UAE) is expected to impact the market growth in the region positively.
Global Metallic Stearates Market – Competitive Landscape
The market appears to be highly fragmented and competitive with the presence of several well-established players having the regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. They strive to develop metallic stearates designed to reduce the downtime and maintenance with longer life and lower costs. The market is projected to witness fierce competition owing to the expected extensions in product and innovations.
Key Players:
PMC Group, Inc. (US.), James M. Brown Ltd. (UK), Dover Chemical Corporation (US.), FACI SPA (Italy), Baerlocher GmbH (Germany), Peter Greven GmbH & Co. KG (Germany), Sun Ace Kakoh (Pte.) Ltd (Singapore), Valtris Specialty Chemicals (US), Nimbasia (India), and IRRH Specialty Chemicals (India) are some of the prominent players operating at the forefront of the competition in the Global Metallic Stearates Market and are profiled in MRFR Analysis.
Industry/ Innovations/ Related News:
October 12, 2017: Peter Greven Group (UK), one of the leading producers of oleochemicals additives announced the acquisition of Norac Additives LLC. (US), a leading global provider of metallic stearates and calcium-zinc heat stabilizers to pursue its expansion plans in North America. The acquisition is expected to hike-up Peter Greven Group’s profile in North America’s plastics additives market, allowing it to further focus on its sales in pharmaceutical, food and cosmetic applications in the region.
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