Metallic stearate market from rubber industry would have significant gains up to 4.5 % in the projected timeframe. They are utilized as mold release agents, acid scavengers, and lubricants which enhances the surface of rubber product. Dry metallic stearates have usage as release agents for rubber, as they avoid it from sticking to mold which should propel industry size.
Metallic stearate market from cosmetic industry application should surpass USD 1 billion owing to its inherent characteristics of colour stability, binding ability, versatility, and thickening. The hydrophobic nature of the product helps powder form from absorbing water and thus from forming agglomerates. These products are used in lip colors, eyeliners, shampoos, sun protective lotions, ointments. Dosage used are relatively low ranging from 0.05 to 1%. These properties enhance shelf life of products which in turn should boost market growth.
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Metallic stearate market from polymer application is estimated to surpass USD 1.5 billion in 2024 owing to increasing demand from Asia-Pacific region, as it is a hub for polymers & rubbers processing industry. These products are used in fiberglass reinforced polyesters, polyolefin, polystyrene phenolic resins & compounds, and PVC. Growing polymer industry is expected to lead to an increase in metallic stearates demand.
The metallic stearate market also gains traction from the ceramics sector, given that stearates are vital in manufacturing specific ceramic and plaster products for the construction sector, such as tiles, roofs and interior components. APAC holds a significant position in the segment of the global ceramic, supported by the growing construction and industrial sectors. The materials provide better bonding when mixed in ceramics and help to avoid the formation of lumps, reinforcing the metallic stearates market penetration in the APAC region.
Expounding the industry prospects, Vietnam had opened the largest ceramic tile plant in South East Asia with a total annual output of 24 million square meters and is the sixth-largest ceramic tile producer in the world. The ceramic tile industry of India is also estimated to record a turnover of USD 6.87 billion by 2020, mainly driven by domestic consumption and exports to Europe and the Middle East, suggesting a major boost to the metallic stearates market in the region.
Pharmaceutical drug manufacturers use metallic stearates for their thixotropic, lubricating and gelation abilities while producing tablets to restrict the absorption of water by the pharmaceutical powders, and also as excipients for drugs. Prevalence of various diseases and the growing health concerns in the APAC region will generate increased demand for pharmaceuticals and bolster the metallic stearate market. The Indian pharmaceutical industry was valued at approx. USD 27.57 billion in FY206 and is project to grow at an augmented rate over the coming years.
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Global metallic stearate market share is moderately fragmented and highly competitive with key manufacturers including PMC Biogenix, Baerlocher gmbh, Sinwon Chemical, Dover Corporation, Allan and Valtris Chemicals. Companies focus in expanding their marketing network by evolving strategic alliances through mergers & acquisition, partnership and joint ventures. Rising investment in R&D by manufacturers for product innovation also strengthens market penetrability.
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