Global Stearyl Alcohol Market

Global Stearyl Alcohol Market Size, Share, Growth Analysis, By End User(Cosmetics & personal care, Pharmaceuticals), By Application(Emulsion stabilizer, Fragrance ingredient) - Industry Forecast 2024-2031

Report ID: SQMIG15E2105 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 64 | Figures: 75

Global Stearyl Alcohol Market Insights

Global Stearyl Alcohol Market size was valued at USD 6.94 billion in 2022 and is poised to grow from USD 7.26 billion in 2023 to USD 10.36 billion by 2031, at a CAGR of 4.55% during the forecast period (2024-2031).

Rising demand for beauty and personal care products in emerging countries such as China and India due to increasing per capita disposable income is expected to be a major driving factor. It is used as an emulsifier in various cosmetics to improve the texture of the product. It is also used as a hair coating and in shampoos to thicken ointments. It is used as a liquid sun blanket in swimming pools to reduce water evaporation.

Due to increasing applications in end-use industries such as cosmetics and automotive, the global sterile alcohol market is expected to grow at a significant CAGR during the forecast period. Rapid industrialization coupled with an increasing number of vehicle owners is expected to drive demand in the automotive industry. Increasing demand for eco-friendly and organic products is projected to positively impact the growth of the market during the forecast period. Technological advancements and research and development to reduce irritation and reduce health risks associated with high doses are expected to create significant opportunities for industry participants during the forecast period. High volatility in raw material prices for vegetables and oils is expected to hamper the market growth during the forecast period.

US Stearyl Alcohol Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Stearyl Alcohol Market size was valued at USD 6.94 billion in 2022 and is poised to grow from USD 7.26 billion in 2023 to USD 10.36 billion by 2031, at a CAGR of 4.55% during the forecast period (2024-2031).

Global stearyl alcohol market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global stearyl alcohol market. 'Wilmar International', 'Ecogreen Oleochemicals', 'Kuala Lumpur Kepong Berhad (KLK)', 'VVF LLC', 'Kao Corporation', 'BASF SE', 'Croda International PLC', 'Sasol Limited', 'Godrej Industries Limited', 'Emery Oleochemicals', 'Musim Mas Holdings', 'Procter & Gamble', 'P&G Chemicals', 'Vantage Specialty Chemicals', 'Acme-Hardesty Company', 'Lipo Chemicals', 'Lonza Group AG', 'Berg + Schmidt', 'Stepan Company', 'KCC Corporation'

Stearyl alcohol has a wide range of applications such as personal care, cosmetics, pharmaceuticals, and food & beverages. Stearyl alcohol is used in the pharmaceutical industry to manufacture hand sanitizers, oral mouthwashes, sterile pads, and eardrops. Also, increasing demand for the product due to its high evaporation rate and low toxicity, and increasing use of the product in the personal care and cosmetic industry are some of the major factors driving the demand for stearyl alcohol and fuelling the growth of the global stearyl alcohol market.

Stearyl alcohol is widely used in the manufacture of lubricants that are used in the automobile industry. The automobile sector is growing rapidly in the world. The rapidly growing automotive sector and increasing vehicle ownership are fuelling the market growth and creating significant opportunities for the growth of the stearyl alcohol market. Also, increasing demand for organic and eco-friendly products will further create new opportunities and is a major trend in the global sterile alcohol market.

On the basis of region, global stearyl alcohol market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. Asia Pacific dominated the global market due to the rapid expansion of the cosmetic and automotive sectors in India, China, South Korea, and Japan. According to statistics, the Asia Pacific cosmetic market has the highest share in the global market which is around 40% (USD 120 billion). The growing middle-class population, increasing health awareness, and increasing beauty trends are driving the growth of the regional market because sterile alcohol is an important ingredient in cosmetic products.

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