Metallic Stearates Market Expected to Reach $6.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Metallic Stearates Market," The metallic stearates market was valued at $4.0 billion in 2021, and is estimated to reach $6.2 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

Metallic stearates are compounds of long-chain fatty acids with metals of different valencies. They are widely utilized as the main substance in a variety of products, including paints, lubricants, personal care products, cosmetics, detergents, and building materials.

Increase in investments in building infrastructure in countries, such as the U.S., China, Japan, Mexico, and India, has led the building & construction sector to witness a significant growth where metallic stearates are used as a hydrophobic agent for plaster applications. In addition, increasing awareness towards skincare, beauty, and lifestyle has surged the demand for personal care & cosmetic products where metallic stearates are widely used to prevent the absorption of water and thus, resist the formation of agglomerates in various cosmetic formulations. These factors are predicted to contribute toward the global market growth.

However, health-related disorders associated with the use of metallic stearates are expected to hamper the growth of the market during forecast period.

On the contrary, the emergence of deadly contagious diseases, such as HIV/AIDS, tuberculosis, and others have led manufacturers to produce highly efficient medicines where metallic stearates are widely used as an anti-caking additive for powders and granules and as an excipient for pressing tablets. This is anticipated to increase the sales of metallic stearates; thus creating lucrative opportunities for the market.

The metallic stearates market is segmented on the basis of product type, form, application, and region. By product type, the market is segregated into calcium stearate, zinc stearate, aluminum stearate, lithium stearate, magnesium stearate, sodium stearate, and others. The calcium stearate segment dominated the global market in terms of revenue in 2021, with 25.51% of the total share. This is attributed to the increase in demand for paper for books, newspapers, and periodicals, which has led the paper manufacturing sector to witness a significant increase in demand where calcium stearates are widely used as lubricant to prevent paper from dusting and fold cracking.

By form, the market is divided into powder, granules, and others. The powder segment dominated the global market in terms of revenue in 2021, with 48.01% of the total share. This is attributed to advantages, such as ease of storage, transportation, rapid onset action, and high efficiency, which has made customers more linear towards using powdered form of metallic stearates.

By application, the market is divided into plastics, pharmaceuticals, cosmetics, rubber, paints & coatings, and others. The plastics segment dominated the global market in terms of revenue in 2021, with 26.15% of the total share. This is attributed to the growth of the automotive and electronic markets and subsequent demand for lightweight components to improve the efficiency of vehicles and reduce the weight of electronics components. These are major factors contributing to the growth of the plastic industry where metallic stearates are widely used as lubrication aids during plastic manufacturing process.

Region-wise, the metallic stearates market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific metallic stearates market is projected to grow at the highest CAGR during the forecast period, and accounted for a major metallic stearates market share in 2021, owing to the rise in building & construction, paints & coatings, cosmetics, chemical manufacturing, and other sectors, which have enhanced the performance of the metallic stearates in the Asia-Pacific region. China's paints & coatings sector is increasing rapidly, which in turn has enhanced the performance of the metallic stearates used to ensure effortless emulsion of pigments in the paint. Also, countries such as India and Australia are witnessing a rapid increase in cosmetics sectors where metallic stearates are used to prevent the absorption of water and thus, resist the formation of agglomerates in various cosmetic products, such as shampoos, eyeliners, lipsticks, sun protective lotions, medicated ointments, body and foot powders, and others.

Key players operating in the global metallic stearates market include, Akrochem Corporation, Baerlocher GmbH, Dover Chemical Corporation, Faci Asia Pacific Pte Ltd, Peter Greven GmbH & Co. KG, PMC Biogenix, Inc., PROMAX Industries ApS, Sinwon Chemical Co., Ltd., Univar Solutions Inc., and Valtris Specialty Chemicals.

COVID-19 analysis

The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The metallic stearates market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on building & construction, plastic manufacturing, and other end-use sectors. The increasing risk of infection among the workforce has resulted in delayed construction projects amid the COVID-19 scenario. For instance, according to an article published by CNA in May 2021, the construction Industry Joint Committee (CIJC) has said that the shortage of manpower may lead to delay in construction projects attributed to workplace safety, and other factors. Moreover, several sustainable plastic manufacturers have either shut down or shrank their operations, which in turn have resulted in supply chain disruptions. Also, different raw materials for producing metallic stearates are purchased or hired from other enterprises. The decreased purchasing potential of suppliers has also negatively impacted the market amid the COVID-19 scenario. Furthermore, the COVID-19 pandemic has led to disruptions in transportation, contractual implications problems, labor shortage, and other factors that together have led the paints & coatings sector to witness a downfall. For instance, according to a report published by the Australian Performance of Construction Index (PCI) Survey, the construction activity has dropped by 16.3 points to 21.6 points from March 2020 to August 2020.

However, emerging geographic scenarios, enhanced domestic supply chain, and strong public investments are projected to drive the growth of metallic stearates market in the growing construction sector. For instance, according to an interim report for the 2021 Australian infrastructure plan, the Australian Construction Industry Forum (ACIF) expects the construction industry to return to pre-COVID-19 levels by 2022-23, driven by strong public investments. This is predicted to boost the growth of the metallic stearates market post-COVID-19 period.

Key findings of the study

• By product type, the calcium stearate segment is anticipated to register the highest CAGR of 5.0% during the forecast period.
• By form, the powder segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.3% from 2022 to 2031.
• By application, the plastics segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.2% from 2022 to 2031.
• By region, Asia-Pacific garnered the highest share of 37.2% in 2021, in terms of revenue, growing at a CAGR of 5.2%.