Stearates Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY (PRWEB) March 03, 2015
Transparency Market Research has published a new report titled “Stearates Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.” According to the report, the global stearates market was valued at US$ 3.55 Bn in 2013 and is anticipated to reach US$ 4.99 Bn in 2020, expanding at a CAGR of 5.0% between 2014 and 2020.
The market for stearates is driven by factors such as high demand for additives in the plastic & rubber processing industry coupled with rising demand for stearates in the building & construction industry. Stearates are used as lubricating, releasing and anti-caking agents in plastic processing. Stearates are also used as acid scavengers in plastic processing and compounding. They increase throughput and facilitate the formation of smoother and low friction surfaces. Increasing demand for stearates in pharmaceutical, personal care and textile industries across the globe is estimated to offer higher opportunities for market growth over the next few years. However, volatility in prices of raw materials coupled with strict environmental regulations is projected to hamper market growth in the near future.
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Sodium stearate was the largest product segment, accounting for over 25% of the global demand for stearates in 2013. Calcium stearate constituted the second-largest market share of the global stearates market in 2013. Calcium stearate is primarily used in the plastic & rubber processing industry owing to its excellent lubricating and releasing properties. Magnesium stearate is anticipated to be the fastest growing product segment in the stearates market during the forecast period. It is primarily employed in the pharmaceutical industry as lubricant and flowability agent during the formulation of dietary supplements and tablets. Increasing demand for stearates in personal care and pharmaceutical industries is likely to offer opportunities for market growth during the forecast period.
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In terms of demand, the plastic & rubber processing industry has been dominating the stearates market over the past few years. Stearates are used as flowability and anti-tacking agent in rubber processing. Building & construction industry accounted for the second-largest demand for stearates in 2013. Stearates offer hydrophobic effect to buildings, acting as water repelling agents in cement and mortar. Paints & coatings is another major outlet for stearates. Stearates are used in paints & coatings due to its water repelling properties. Pharmaceutical is considered one of the fastest growing end-user segments and is expected to drive the stearates market during the forecast period. Other end-users (such as textile, and paper & pulp) are estimated to exhibit stable demand for stearates during the forecast period.
Other Report : Spirotetramat Market : http://www.transparencymarketresearch.com/spirotetramat-market.html
In terms of demand, Asia Pacific has been dominating the stearates market over the past few years. The region held over 45% share of the global stearates demand in 2013. This trend is projected to continue during the forecast period. High demand for stearates in the plastic & rubber processing industry has been a key factor for growth of the stearates industry in Asia Pacific. The region was followed by Europe, which is expected to experience sluggish market growth during the forecast period. North America is anticipated to offer opportunities for market growth, especially in pharmaceutical and building & construction industries. Market share of Rest of the World is projected to increase in the next few years.
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