Stearic Acid Market

Stearic Acid Market Size by Feedstock (Animal-based Raw Materials, Vegetable-based Raw Materials), End User (Personal Care, Food & Beverages, Healthcare, Textile, Automotive, Agriculture), Region, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12548
  • Published Date: Oct, 2021
  • Pages: 243
  • Category: Chemicals & Materials
  • Format: PDF
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Global stearic acid market is expected to reach USD 13.89 billion by 2028, at a CAGR of 7.06% from 2021 to 2028. The global Stearic Acid market is witnessing a considerable growth owing to high demand in personal care and soaps and detergents.

Market Overview:

Stearic acid is a colourless, waxy solid that has a mild odour. This is soluble in oil but very little dissolves in water, so it floats on it. This saturated fatty acid is a primary constituent of both Cocoa and Shea butter. Stearic acid can be obtained from the fatty parts of plant sources like palm oil which is its natural source. Since it can be obtained from plant sources, it can be used in natural preparation and is a safer substitute for chemicals in the cosmetic products. Stearic acid is used to harden products. They are widely used in soap bars and candles. This help the soap in forming a rich lather that feels smooth and silky. This is also used in shaving foams because of the same foaming property. The occlusive nature of stearic acid helps the skin stay hydrated by stopping or slowing moisture loss from the skin’s surface. Stearic acid is used as a base for other ingredients that are used into the formulations as emollients, lubricants and emulsifiers. The stearic acid act as an effective stabilizer, thickener and softener in emulsions that adds a cooling sensation to the skin. This is also utilized for a pearly finish to the lubricants. Commercial stearic acid is a mixture of palmitic, stearic acid, and oleic acid, which are used in the manufacturing of soap, candles, lubricants, shaving cream etc. Stearic Acids are used as a base in cosmetics improves stability and increases the shelf life. Stearic acid uses as a surfactant and cleansing agent by cosmetic and detergent industries are propelling the stearic acid market. Stearic Acid in soap formulations act as thickeners and harden the formulas into solids. Surfactant quality of stearic acid reduces the surface tension of oils, which leads to easy mixing of water molecules with oil and enhances the product effectiveness, which improves its shelf life.

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Market Dynamics

Drivers:
  • Surging demand in personal care products, soaps and detergents

There is a huge demand for stearic acid in making personal care products, detergents etc. This is due to its use as surfactant and cleansing properties which removes the oil and dirt from skin and clothes. So this is one of the factors driving the stearic acid market. Stearic acid helps to eliminate excess oil, sweat, and grime from hair and skin. This cleansing property makes it useful to add in the making of soap bars, face and body washes, shampoos and detergents. Also, there is an increase in the demand for personal care products, soaps etc. in the developed and developing countries, which in turn drive the stearic acid market. The awareness among people about cleanliness and hygiene increases the demand for personal care products. This also drives the stearic acid market.

  • More preferenceon sustainable and biodegradable products

The rise in awareness among the people about the health and environment are broadening the demand for sustainable and biodegradable products. Stearic acid because of its plant source are used widely used as a substitute to chemicals in the cosmetic products etc. The demand for biodegradable products is boosting the use of stearic acid in many products like candles, lubricants, cosmetics etc. Furthermore, the fluctuations in the prices of petrochemical product causes the supply and demand problem, due to supply chain problem. All such factors encourages to use the sustainable and biodegradable products, which in turn drives the Steric Acid market.

  • Rising application in Lead-acid Batteries

There is an increase in the use of lead-acid batteries, as it is widely used to electric power motors, motor vehicles and used as emergency power on nuclear submarines etc.  The stearic acid is used in the manufacture of lead-acid batteries as a negative plate additive. So, there is an increase in demand of stearic acid for its rising application in Lead-acid batteries. Moreover, it is also used as a hardener in candies and for manufacturing dietary supplements.

Restraints:
  • Volatile raw material prices

The cost of raw materials always remains the top concern for stearic acid manufacturers. Stearic acid products produced from animal fats as a source are facing problems because of the protest by various animal rights organizations on product made from animal skin, fat etc. so this is acting as a major restraint for the market. The extreme price volatility of raw materials is a real challenge for many companies to remain competitive and assure sustainable margins.

  • Hazards related to consumption of higher product concentration

The excess in the consumption of stearic acid product are responsible for many serious illness like cancer, liver toxicity and skin damage. The large doses of magnesium stearate have resulted in liver toxicity cases and the damaging of skin. Some of the side effects of stearic acid are development of rashes, itching and burning sensation, inflammation, blisters etc. These factors are hampering the market.

Opportunities:
  • Development of bio-based products and increasing R&D spending for product innovation

The rising demand for biodegradable products and the increase in the investment for R&D for product innovation are the opportunities that are going to drive the market. There is an increase in R&D spending for the better delivery of products, especially related to personal care products. Increase in the use of stearic acid in personal care products, including shampoos, shaving creams, and soap are the factors that are going to drive this market in the forecasting period.

Segmentation Analysis:

The global stearic acid market has been segmented based on feedstock, end-user and regions.

  • The feedstock segment is divided into animal-based raw materials and vegetable-based raw materials. The vegetable-based raw materials segment held the highest market share of around 57.69% in 2020 owing to palm oil and different types of sunflower oil, which provides high stearic, and oleic acids content. More spending on R&D for better extraction from vegetable-based raw materials is also one of the factor and product derived from animal fats has led to rising protests by various animal rights activists.
  • The End User segment includes Personal Care, Food & Beverages, Healthcare, Textile, Automotive, Agriculture and others. The Personal Care segment accounts for 31.28% of market share in 2020. This is because stearic acid is broadly used as a surfactant and cleansing agent by personal care product manufacturers. Stearic acid is used in the making of magnesium stearate and sodium stearate, which is a component of personal care products, which are used in skincare and hair care products. Stearic acid has many applications in the soaps and detergent.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia-Pacific region emerged as the largest market for the Stearic Acid market, with a 41.35% share of the market revenue in 2020.

  • Asia-Pacific is having the highest market share as this region is the leading consumer of cosmetics and personal care products, this owes to growing urbanization and increasing younger generation population in countries like India and other developing nations. The developing countries like India, China is the biggest consumer market. Also the increase in per capita income and the country like India which is having the maximum number of younger population are the main reason for the biggest market for cosmetics and personal care market, driving the stearic acid market in the region. On the top of this, Malaysia and Indonesia have become the manufacturing hubs for oleo chemicals like Stearic Acid. All these factors are contributing to the highest market share for steric acid market of this region.
  • North America and Europe are developed market, and they would see the growth in the market in the forecasting period, especially in the U.S, Germany and France. Also, France is one of the largest contributors to the cosmetic industry. Latin America is predicted to experience substantial gains mainly driven by rapid industrialization, increasing disposable income, consequently driving industry growth for lubricants, rubber and metal processing, which ultimately drive the stearic acid market.

Asia Pacific Stearic Acid Market Share in 2020 - 41.35%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global stearic acid industry.

In November 2017, AkzoNobel completed the €4.8 million expansion project at its Surface Chemistry facility in Boxing, China, significantly increasing the company's regional product portfolio and reconfirming its commitment to the Asian market.

In August 2018, Wilmar International planned to expand in many regions and offer better market positioning by acquiring smaller and inefficient players that are selling their assets and leaving the industry amidst depressed soft commodity prices. For instance, acquisition of Renuka Sugar and Renuka Soya.

List of Key Market Players:

  • The Chemical Company
  • VVF LLC
  • Cayman Chemical
  • U.S. Chemicals LLC
  • Deeno Group
  • Parchem
  • Pacific OleochemicalsSdn, Bhd
  • Kao Chemicals
  • Emery Oleochemicals
  • BASF
  • AkzoNobel
  • Wilmar International             
  • Godrej industries
  • Oleon
  • Kuala Lumpur Kepong(KLK)
  • Merck KGaA
  • Procter & Gamble
  • IOI Oleochemicals

Key Target Audience

  • Personal Care Product Industries
  • Food & Beverages Industries
  • Healthcare industries
  • Textile Industries
  • Automotive Industries
  • Agricultural Industries

Report Description:

  • Global Stearic Acid Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global Stearic Acid market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Stearic Acid market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of feedstock, end user and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Stearic Acid market.  This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global Stearic Acid market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global Stearic Acid market) is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the stearic acid market was valued at USD 7.41billion in 2020 and is anticipated to reach USD 13.89 billion by 2028.

Global stearic acid market is growing at a CAGR of 7.06% during the forecast period 2021-2028.

The global stearic acid market has been segmented based on feedstock, end-user and regions. The vegetable-based raw materials segment held the highest market share in 2020.

The Asia Pacific region emerged as the largest market for the stearic acid.

High demand in personal care, soaps and detergents is the key driving factor for the stearic acid market.

Volatile raw material prices remains the top overall concern, which may hamper the market growth.

Development of 100% bio-based products, along with increasing R&D spending regarding product innovation will provide huge opportunities to the market.

The Chemical Company, VVF LLC, Cayman Chemical, U.S. Chemicals LLC, Deeno Group, Parchem.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Feedstock
          4.3.2. Market Attractiveness Analysis By End User
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. High demand in personal care and soaps and detergents
          5.2.2. Growing demand for sustainable and biodegradable products
          5.2.3. Rising application in Lead-acid Batteries
    5.3. Restrains
          5.3.1. Volatile raw material prices
          5.3.2. Hazards associated with consumption of higher product concentration
    5.4. Opportunities
          5.4.1. Development of bio-based products, along with increasing R&D spending regarding product innovation

6. Global Stearic AcidMarket Analysis and Forecast, By Feedstock
    6.1. Segment Overview
    6.2. Animal-based Raw Materials
    6.3. Vegetable- based Raw Materials

7. Global Stearic AcidMarket Analysis and Forecast, By End User
    7.1. Segment Overview
    7.2. Personal Care
    7.3. Food & Beverages
    7.4. Healthcare
    7.5. Textile
    7.6. Automotive
    7.7. Agriculture
    7.8. Others

8. Global Stearic AcidMarket Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Stearic AcidMarket-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Stearic AcidMarket
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. The Chemical Company
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Type Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. VVF LLC
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Type Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Cayman Chemical
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Type Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. U.S. Chemicals LLC
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Type Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Deeno Group
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Type Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Parchem
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Type Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Pacific OleochemicalsSdn, Bhd
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Type Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Kao Chemicals
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Type Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Emery Oleochemicals
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Type Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. BASF
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Type Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. AkzoNobel
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Type Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. Wilmar International
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Type Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. Godrej industries
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Type Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. Oleon
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company Type Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis
    10.15. Kuala Lumpur Kepong(KLK)
          10.15.1. Business Overview
          10.15.2. Company Snapshot
          10.15.3. Company Market Share Analysis
          10.15.4. Company Type Portfolio
          10.15.5. Recent Developments
          10.15.6. SWOT Analysis
    10.16. Merck KGaA
          10.16.1. Business Overview
          10.16.2. Company Snapshot
          10.16.3. Company Market Share Analysis
          10.16.4. Company Type Portfolio
          10.16.5. Recent Developments
          10.16.6. SWOT Analysis
    10.17. Procter & Gamble
          10.17.1. Business Overview
          10.17.2. Company Snapshot
          10.17.3. Company Market Share Analysis
          10.17.4. Company Type Portfolio
          10.17.5. Recent Developments
          10.17.6. SWOT Analysis
    10.18. IOI Oleochemicals
          10.18.1. Business Overview
          10.18.2. Company Snapshot
          10.18.3. Company Market Share Analysis
          10.18.4. Company Type Portfolio
          10.18.5. Recent Developments
          10.18.6. SWOT Analysis
 

List of Table

1. Global Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

2. Global Animal-based Raw Materials, Stearic Acid Market, By Region, 2018-2028  (USD Billion)(Kilotons)

3. Global Vegetable- based Raw Materials, Stearic Acid Market, By Region, 2018-2028   (USD Billion)(Kilotons)

4. Global Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

5. Global Personal CareStearic Acid Market, By Region, 2018-2028 (USD Billion)(Kilotons)

6. Global Food & BeveragesStearic Acid Market, By Region, 2018-2028 (USD Billion)(Kilotons)

7. Global HealthcareStearic Acid Market, By Region, 2018-2028 (USD Billion)(Kilotons)

8. Global TextileStearic Acid Market, By Region, 2018-2028 (USD Billion)(Kilotons)

9. Global AutomotiveStearic Acid Market, By Region, 2018-2028 (USD Billion)(Kilotons)

10. Global AgricultureStearic Acid Market, By Region, 2018-2028 (USD Billion)(Kilotons)

11. Global OthersStearic Acid Market, By Region, 2018-2028 (USD Billion)(Kilotons)

12. Global Stearic Acid Market, By Region, 2018-2028 (USD Billion)(Kilotons)

13. Global Stearic Acid Market, By North America, 2018-2028 (USD Billion)(Kilotons)

14. North America Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

15. North America Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

16. U.S. Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

17. U.S. Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

18. Canada Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

19. Canada Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

20. Mexico Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

21. Mexico Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

22. Europe Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

23. Europe Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

24. Germany Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

25. Germany Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

26. France Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

27. France Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

28. U.K. Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

29. U.K. Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

30. Italy Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

31. Italy Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

32. Spain Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

33. Spain Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

34. Asia Pacific Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

35. Asia Pacific Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

36. Japan Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

37. Japan Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

38. China Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

39. China Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

40. India Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

41. India Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

42. South America Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

43. South America Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

44. Brazil Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

45. Brazil Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

46. Middle East and Africa Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

47. Middle East and Africa Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

48. UAE Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

49. UAE Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

50. South Africa Stearic Acid Market, By Feedstock, 2018-2028 (USD Billion)(Kilotons)

51. South Africa Stearic Acid Market, By End User, 2018-2028 (USD Billion)(Kilotons)

List of Figures 

1. Global Stearic Acid Market Segmentation

2. Stearic Acid Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Stearic Acid Market Attractiveness Analysis By Feedstock

9. Global Stearic Acid Market Attractiveness Analysis By End User

10. Global Stearic Acid Market Attractiveness Analysis By Region

11. Global Stearic Acid Market: Dynamics

12. Global Stearic Acid Market Share By Feedstock (2021 & 2028 )

13. Global Stearic Acid Market Share By End User (2021 & 2028 )

14. Global Stearic Acid Market Share by Regions (2021 & 2028 )

15. Global Stearic Acid Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global stearic acid market on the basis of below mentioned segments:

Global Stearic Acid Market by Feedstock:

  • Animal-based Raw Materials
  • Vegetable- based Raw Materials

Global Stearic Acid Market by End User:

  • Personal Care
  • Food & Beverages
  • Healthcare
  • Textile
  • Automotive
  • Agriculture
  • Others

Global Stearic Acid Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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