Market Size of Stearic Acid Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 9.47 Million tons |
| Market Volume (2029) | 12.30 Million tons |
| CAGR (2024 - 2029) | 5.36 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Stearic Acid Market Analysis
The Stearic Acid Market size is estimated at 9.47 Million tons in 2024, and is expected to reach 12.30 Million tons by 2029, growing at a CAGR of 5.36% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020. However, the increasing consciousness regarding personal hygiene and clean surroundings stimulates the demand for stearic acid-based personal care and household cleaning products, thus enhancing the market demand for stearic acid.
- Major factors driving the market studied are the increasing need for personal care products and the rapid growth of the cleaners and detergents industry.
- On the flip side, fluctuating prices of raw materials and carcinogen effects in high concentrations hinder the growth of the market studied.
- Increasing applications for metal cleaning and candle manufacturing are likely to offer opportunities for the market to rise over the forecast period.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
