Key Highlights of Global Stearates Market
- The global Stearates market was valued at US$ 4,512.4 Mn in 2018 and is anticipated to expand at a CAGR of 5.5% during the forecast period
- 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.
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- 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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Key Drivers of Global Stearates Market
- Harsh environmental conditions adversely affect buildings. Excess water at construction sites can cause serious damage to buildings. Water is also considered responsible for the transport of substances such as microorganisms, salts or frost damage in cold conditions. Furthermore, dampness may occur in buildings due to poor quality of materials, faulty design, and poor construction. This can result in softening and crumbling of the plaster. Waterproofing and damp proofing can be carried out with surface treatment, guniting, and cavity wall construction. Special additives are added to cement and mortar in order to enhance their water-repelling properties.
- Stearates are used as hydrophobic agents in the building & construction industry. In order to achieve a hydrophobic effect, it is necessary to cover active surfaces such as spikes and edges of the buildings. Stearates such as calcium, zinc, and sodium have higher swelling capacities and can be used as sealing agents in concrete. Stearates form gels when in contact with water, thus blocking the capillary system and causing hydrophobic effect. They prevent water from penetrating into the mortar, while keeping intact the water vapor diffusion in the mortar.
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Asia Pacific Dominates Global Stearates Market
- In terms of demand, Asia Pacific has been dominating the stearates market over the past few years. The region held over 40% of the global demand for stearates in 2018. 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.
Fragmented Nature of Global Stearates Market
- The stearates market is fragmented in nature. It is controlled by manufacturers with global presence. The top eight manufacturers – Baerlocher GmbH, FACI S.p.A., Norac Additives Inc., Dover Chemical Corporation, Ferro Corporation, Mallinckrodt Pharmaceuticals, Peter Greven GmbH & Co. KG, and PMC Biogenix, Inc.
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