Global Stearyl Alcohol Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2019 at a CAGR of 5.2% during a forecast period.
Global Stearyl Alcohol Market Overview
Catalytic hydrogenation is used to produce stearyl alcohol from naturally existing materials such as coconut oil. It is an organic chemical classed as fatty alcohol with a boiling temperature of 210 °C and a melting temperature of 60 °C. It is available in the form of flakes or granules that are insoluble in water. The molecule is classified as a long-chain unsaturated or saturated fatty alcohol.
Stearyl alcohol is used in a variety of applications, including pacifying agents, surfactants, and detergents, when combined with acetyl alcohol. It is also used as a viscosity-increasing agent and in lotions and ointments as an emollient. Blending with other fatty alcohols is projected to bring up a slew of new opportunities for the global stearyl alcohol market during the forecast period.
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Global Stearyl Alcohol Market Dynamics
Rising consumer expenditure on hair care products such as shampoos and hair creams is a key element driving market growth. Other important reasons driving the stearyl alcohol market include an increase in disposable income and increased demand for beauty and personal care commodities due to a growing population throughout the world. Furthermore, increased demand for environmentally friendly and organic goods is expected to generate new possibilities for the stearyl alcohol market during the forecast period.
Furthermore, because stearyl alcohol is chemically non-ionic, it does not get charged when combined with water, rendering rinsing/cleaning useless. These are two major restraints of the stearyl alcohol market.
Increasing Demand for Lubricants in the Automotive Industry support the Stearyl Alcohol Market growth
The automobile sector is growing quickly across the world; in 2019, the automotive industry in the United States contributed 2.7 % to the country's GDP. Stearyl alcohol is used to make lubricants, which are then utilized in the automobile industry. As a result, the rapidly growing automotive sector and rising vehicle ownership give a boost to market growth.
Lubricants are essential for vehicle maintenance; for example, they are widely used in traditional vehicles like automobiles and motorcycles to protect the joints. According to Statista, worldwide lubricant demand was over 36 million metric tonnes in 2019. North America has a high per capita lubricant consumption; the US lubricant industry was valued at roughly USD 19 billion in 2019. As a result, as the lubricant industry grows, so does the demand for stearyl alcohol, propelling the industry forward even more.
Impact of Covid-19 in Stearyl Alcohol Market
The utility-claimed component is being driven by increasing monetary incentives and administrative assistance from governments all over the world. The current utility-claimed Stearyl Alcohol Market has been significantly impacted by the COVID-19 outbreak. The majority of the ventures in China, the United States, Germany, and South Korea have been delayed, and the firms are facing temporary operational issues as a result of store network requirements and a lack of site access owing to the COVID-19 flare-up. The spread of the COVID-19 pandemic in China, Japan, and India is expected to have a major impact on the Asia-Pacific region.
Global Stearyl Alcohol Market Segmentation Analysis
By Application, the emulsion stabilizer segment is expected to grow at the largest CAGR of nearly XX% during the forecast period. It is because of its widespread use in the cosmetics sector, notably for its skin-softening properties.
Global Stearyl Alcohol MarketBy End-user, the cosmetics and personal care segment leads the market, accounting for a 5.5 % market share. Stearyl alcohol is widely utilized in the cosmetic and personal care sectors, where it is used to manufacture hair conditioners, eye cosmetics, foundations, skincare products, skin cleansers, and skin moisturizers, among other things. Stearyl alcohol contributes to the formation of an emulsion and inhibits the separation of oil and liquid components in goods. It reduces the tendency of finished products to produce foam when shaken, acts as a skin lubricant, and gives the skin a glossy, smooth, and soft appearance.
Several cosmetic items have grown in popularity as a result of the general acceptance of internet culture and the increasing usage of social media platforms like YouTube and Instagram. These channels have a large influence on teens, millennials, and other age groups, which increases the demand for beauty goods. As a result, the effect of debouching cosmetic and grooming trends on millennials fuels segment growth.
Global Stearyl Alcohol Market Regional Analysis
Europe is one of the most important markets for stearyl alcohol due to the increased demand for personal care and cosmetics products. According to the United States Department of Commerce's International Trade Administration, the French cosmetic industry generated US$ 11.37 billion in 2019.
In addition, due to the enormous growth of the cosmetic and automotive industries in India, China, South Korea, and Japan, Asia-Pacific is predicted to have the highest growth in the stearyl alcohol market. According to Statista, the Asia-Pacific cosmetics market held the highest share of the global market in 2019, accounting for more than 40% of the total (USD 120 billion). Because stearyl alcohol is a key ingredient in cosmetics, the regional market is being pushed by an expanding middle-class population, increased health awareness, and evolving beauty trends.
The automotive industry is the greatest consumer of lubricants, which drives up demand for stearyl alcohol. The Asia-Pacific automobile sector is the fastest expanding, with China and Japan driving regional market expansion. Japan manufactured 8.33 million passenger vehicles in 2019, but China is the largest vehicle producer. The Asia-Pacific region accounts for over 40% of the worldwide lubricant market. As a result, rising lubricant consumption in the automotive industry propels regional market growth.
The objective of the report is to present a comprehensive analysis of the Global Stearyl Alcohol Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Stearyl Alcohol Market dynamics, structure by analyzing the market segments and project the Global Stearyl Alcohol Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Stearyl Alcohol Market make the report investor’s guide.
Global Stearyl Alcohol Market Scope: Inquire before buying
Global Stearyl Alcohol Market by Region
• North America
• Asia pacific
• Middle East and Africa
• South America
Global Stearyl Alcohol Market Key Players
• Sinarmas Cepsa Pte. Ltd
• Triveni Chemicals
• New Japan Chemical Co., Ltd
• Merck KGaA
• Kokyu Alcohol Kogyo Co., Ltd
• Berg + Schmidt GmbH & Co. K
• Kao CorporationBASF SE
• Biesterfeld AG
• KLK Oleo
• Godrej Industries Limited
• P&G Chemicals
• Surfachem Group
• Lansdowne Chemicals
• Mistral Industrial Chemicals
• Niram Chemicals
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