Metallic stearates have a long history in the applications of manufacturing industries. With the global industrial sector proliferating, the metallic stearates market is rising exponentially. The global manufacturing value-added experienced an increment in the annual growth rate from 1.6% in 2016 to 3.46% in 2017. This increasing growth of the manufacturing sector is uplifting the demand for the metallic stearates market. Furthermore, unique properties exhibited by a manifold range of metallic stearates including zinc stearate, sodium stearate, magnesium stearate, calcium stearate, and aluminum stearate allow their applications in the pharmaceutical, rubber, plastic, construction, and coatings industries. Higher solubility and effective lubricity characteristics displayed by these metallic stearates make them ideal for these end-user industries. On the whole, the physical and chemical properties of metallic stearates are amplifying the metallic stearates market demand in their end-user sectors.
The global metallic stearates market size achieved a value of $3.4 billion in 2018. Furthermore, the industry avenues are increasing at a CAGR of 5.65% during the forecast period 2019-2025.
Growing Construction and Infrastructure Sectors in APAC Driving the Growth of the Metallic Stearates Market
APAC led the global metallic stearates market with a regional share of 39% as of 2018. Rising consumerism and urbanization in APAC is crafting the demand for the end-user industries of metallic stearates such as food, construction, coatings, and infrastructure. China is the world’s largest market for the construction industry and the market is anticipated to rise with an annual growth rate of 5% during 2019-2023. Secondly, by 2025, the Indian construction sector is projected to evolve as the third-largest market growing at an average of 7.1% each year.
Subsequently, the construction and infrastructure industries use metallic stearate such as zinc stearate in powdered and precipitated forms as a hydrophobic agent because it inhibits moisture absorption and preserves building materials. On the other hand, owing to its excellent hydrophobicity, aluminum stearates are used as water repellent ingredients in coatings, infrastructure and construction sectors. In addition, the x-ray diffraction technique attained by calcium stearate is highly used in waste treatments and coatings. Thus, with these advantages and the dominance of the end-user industries, the APAC metallic stearates market is scaling greater heights.
Sustainability Initiatives in the Plastic Manufacturing Propelling the Metallic Stearates Market Demand
The global metallic stearate industry is experiencing myriad avenues in the plastic manufacturing segment rising at a CAGR of 5.25% through to 2025. Innovation, sustainability, and standardization are the major drivers in the plastic industry, thriving the demand for the metallic stearates market. Also, rising consumerism is reinforcing the plastic industry demand in various applications such as packaging. Stearates form an important part of the plastic processing owing to their use as lubricants and releasing agents. Metal soaps or metallic stearates are used in the manufacturing of diverse plastics including polypropylene, acrylonitrile butadiene styrene (ABS), polyamide, polyethylene, and fiber-reinforced plastics.
With the global plastic industry taking a paradigm shift towards sustainability, the full potential of metallic stearates is cashed out by the manufacturers of the plastic industry in the form of new ecological product innovations. Along with that, global initiatives such as “The New Plastics Economy” and “Plastics 2030” are reducing plastic pollution and paving ways to manufacture a unique combination of durable, light-weight, and intrinsic plastics which further increase the metallic stearates market growth. As a result, growing sustainability demand in the plastic sector is augmenting the growth of the metallic stearates market.
Global Metallic Stearates Market – Competitive Landscape
Companies such as PROMAX Industries ApS, Dover Chemical Corporation, Baerlocher GmbH, FACI SPA, Peter Greven GmbH & Co. KG_x000B, Nimbasia, Marathwada Chemicals, and IRRH SPECIALTY CHEMICALS are leading the global metallic stearates industry. Owing to the immense demand from the end-user industries, the market players are exhibiting rapid progressions in the metallic stearates market.
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Mr. Venkat Reddy
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