The metallic stearates market is projected to reach USD 3.85 billion by 2021, at a CAGR of 5.4% from 2016 to 2021. The growing demand for metallic stearates from the polymers & rubbers, pharmaceuticals & cosmetics, building & construction, paints & coatings, and other industries as water repellents, lubricants, and mold release agents, among others is expected to drive the metallic stearates market.
Based on type, the magnesium stearates market is expected to grow at the highest rate during the forecast period. Magnesium stearates are less toxic in comparison to other types, hence they find major applications in the pharmaceuticals & cosmetics, and paints & coatings industries. North America and Europe are the major markets for magnesium stearates, as these are major centers for pharmaceuticals and cosmetics industries. In terms of market size, calcium and zinc stearates lead the market by type wherein they are largely used in the polymer and rubber, building & construction, and paints & coatings industries. The Asia-Pacific is expected to be a major market for these types during the forecast period.
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Based on end-use industry, the polymers & rubbers industry segment is expected to lead the metallic stearates market during the forecast period. PVC compounding, stabilizers for unvulcanized rubbers, lubricants, acid scavengers, and water repellents are some of the key applications in the industry wherein these are largely used. Major polymers among the polymers & rubbers include Poly Vinyl Chloride (PVC), Linear Low Density Polyethylene (LLDPE) films, Acrylonitrile Butadiene Styrene (ABS), among others. Pharmaceuticals & cosmetics is projected to be the fastest growing end-use industry with a high demand from North America and Europe. Building & construction and paints and coatings are the other major industries for metallic stearates wherein these are used in a number of applications.
The metallic stearates market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the growing demand for metallic stearates from various end-use industries such as polymers & rubbers, building & construction, paints & coatings, pharmaceuticals & cosmetics, among others. The polymers & rubbers industry among the above is the key market in the Asia-Pacific region that is expected to drive demand during the forecast period. In addition to this, improving economic conditions, increasing purchasing capacities along with growing populations are driving the metallic stearates market in the Asia-Pacific region. India and China are projected to be the two major markets for metallic stearates during the forecast period.
The metallic stearates market is highly fragmented and competitive, with the presence of a large number of prominent players. Major companies operating in the metallic stearates market include Baerlocher GmbH (Germany), Dover Chemical Corporation (U.S.), FACI S.p.A (Italy), Peter Greven GmbH & Co. KG (Germany), Sun Ace Kakoh (Pte.) Ltd. (Malaysia), and Valtris Specialty Chemicals (U.S.), among others. All these companies have major strategic facilities in the Asia-Pacific, North American, and European regions. These companies are undertaking organic and inorganic expansion strategies to increase their market shares and penetrate emerging markets.
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