Stearyl Alcohol Market Outlook
According to a new report by Expert Market Research titled, “Global Stearyl Alcohol Market Size, Share, Analysis, Report and Forecast 2023-2028″, the global stearyl alcohol market is being aided by the growth of the fatty alcohol industry. Aided by the growing demand in cosmetic, pharmaceutical, and industrial applications, the fatty alcohol market is expected to grow at a CAGR of 5% in the forecast period of 2023-2028 to reach a value of approximately USD 9.15 billion by 2028.
Stearyl alcohol, also known as octadecyl alcohol or 1-octadecanol, is a fatty alcohol derived mainly from stearic acid, a naturally occurring fatty acid. It is used extensively as an emollient, emulsifier, and thickener in cosmetic products like creams, lotions, and hair conditioners. Additionally, it serves as an opacifying agent in shampoos and as a viscosity enhancer in several formulations.
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The burgeoning cosmetic and skincare industry is one of the primary drivers propelling the global stearyl alcohol market growth. The rising consumer consciousness about skincare, combined with the growing inclination towards natural and organic ingredients, has augmented the demand for stearyl alcohol. It offers moisturising properties and a creamy consistency, making it a preferred ingredient in various cosmetic formulations.
Moreover, the pharmaceutical industry is also significantly contributing to the market. Stearyl alcohol acts as a lubricant in the production of tablets and capsules, ensuring they don’t stick to the manufacturing equipment. It also plays a pivotal role in ointment and cream formulations due to its emollient characteristics, propelling the stearyl alcohol market expansion.
In industrial applications, stearyl alcohol has made a mark as an essential ingredient in the production of surfactants, which are vital in industries such as textiles, detergents, and personal care. Its function as a stabiliser and thickener also finds utility in the production of PVC (polyvinyl chloride), aiding in improving its thermal stability and processing characteristics.
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As per the stearyl alcohol market analysis, the rising demand for vegan and cruelty-free products is further boosting the market demand. As stearyl alcohol can be derived from both plant and animal sources, companies are focusing on ensuring that their sources are vegan-friendly. The emphasis on transparent sourcing and increased awareness among consumers about product ingredients have encouraged manufacturers to adopt sustainable and animal-friendly practices.
The Asian market, in particular, has shown a robust growth rate in the stearyl alcohol sector. Fuelled by rapidly expanding cosmetic and personal care industries in countries like China, India, and South Korea, the stearyl alcohol market demand has witnessed a surge in the region.
Stearyl Alcohol Market Segmentation
The market can be divided based on application, end use, and region.
Market Breakup by Application
- Emulsion Stabilizer
- Fragrance Ingredient
- Emulsifying Agent
- Foam Booster
- Viscosity Modifier
- Emollient
- Others
Market Breakup by End Use
- Cosmetics and Personal Care
- Pharmaceuticals
- Food and Beverages
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global stearyl alcohol market. Some of the major players explored in the report by Expert Market Research are as follows:
- Kao Corporation
- BASF SE
- Biesterfeld AG
- KLK Oleo
- Godrej Industries Limited
- P&G Chemicals
- Others
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