Key players focusing on increasing r&d activities for development of efficient product for application in commercial sectors.
DUBAI, UAE / ACCESSWIRE / January 6, 2021 / According to FMI's recent study, the global metallic stearates market is poised to expand at a 34.1% CAGR during 2018-2028. On account of the favorable and versatile chemical attributes of metallic stearate, its application in plastic and rubber is expanding exponentially, therefore propelling the market expansion. However, closure in industrial manufacturing owing to unfavorable conditions rising from the COVID-19 pandemic is projected to halt growth in the market.
"High growth witnessed across industries such as varnishes and paints, lubricants and detergents, pharmaceuticals, and cosmetics is alluring wide-ranging growth opportunities for the metallic stearates market." states the FMI analyst.
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Important Highlights
- Zinc stearate category will hold majority of the market share in the overall global market, due to its processing aid and stabilizing properties in an extensive range of thermoplastics applications.
- Pharmaceuticals segment will grow at a comparatively higher CAGR of 3.9% amid the assessment period.
- China will remain lucrative in the global market, also North America is likely to attain notable market share by 2028 end.
- The global metallic stearates market will be accounting for a market valuation of US$ 3,178.0 Mn by 2028 end.
Drivers
- Application as lubricating agents, water-repelling agents, stabilizers, and others end uses serves as a key growth booster for the market.
- Increasing investments from several conglomerates and investors are accelerating r&d activities, harnesses the growth of the global market.
- Rapid growth of the plastics and rubber industry together with increasing demand for product for refining surface textures of plastic goods are likely to impel the market in the forthcoming years.
Restraints
- Health hazard in relation to metallic stearate might hinder the expansion of metallic stearate market in the forthcoming years.
- Unstructured market in case of bulk grades is restraining growth in the market.
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COVID-19 Impact on Metallic Stearates Market
The COVID-19 pandemic has constrained the expansion of the metallic stearates market owing to the strict lockdown measures. The close down of several production facilities and manufacturing units has ensued in slow expansion of the metallic stearates market.
Competitive Landscape
Product expansions and differentiation positively impact the key players. Companies in the global metallic stearates market are focusing on developing products with enhanced surface properties. Combination of stearic acid on the basis of vegetable oil is one of the key focus of companies for the manufacturing process.
Some of the key companies identified in the global market are Valtris Specialty Chemicals, Akrochem Corporation, PROMAX Industries ApS, Peter Greven GmbH & Co. KG, Univar Inc., Biogenix, Inc., Dover Chemical Corporation, Faci S.p.A., Sinwon Chemical Co., Ltd., and Baerlocher GmbH.
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About the Study
The study offers readers a comprehensive assessment of the metallic stearates market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product types (zinc stearate, calcium stearate, magnesium stearate, aluminium stearate, and others), application (polymers and plastics, rubber, pharmaceuticals, personal care and cosmetics, construction, paints and coatings, and others) end user (physiotherapy clinics, hospitals, home care settings and sports clinics) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Report: https://www.futuremarketinsights.com/reports/metallic-stearates-market
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SOURCE: Future Market Insights
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