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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).

stearyl alcohol market is highly competitive with the presence of local as well as companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of 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 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 sterile alcohol market.

On the basis of region, stearyl alcohol market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. Asia Pacific dominated the 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 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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Global Stearyl Alcohol Market

Product ID: SQMIG15E2105