According to the findings of a report published by Grand View Research, Inc.; the global isostearic acid market is predicted to reach at USD 447.9 million by 2020. Isostearic acid is a liquid fatty acid, which is produced by the reaction of a natural mineral catalyst with oleic acid. This acid has high odor, thermal, and oxidation stability and thus finds many uses in a wide range of applications such as textiles, chemical esters, packaging, personal care, and many others. It also possesses excellent ultraviolet (UV) resistant properties and thus is useful in various types of cosmetic products such as sunscreens, lip gloss, lipsticks, and several other personal care products including shower and bath gels, toilet soaps, and so on. Rapidly expanding end-user industries is expected to be the key factor driving the global market over the forecast years (from 2014 to 2020).
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A rise in demand for various personal care products, especially in the Latin America and Asia Pacific regions, is predicted to contribute toward the growth of the global market over the forecast period. Moreover, high demand for this acid due to rapidly expanding food and chemical sectors across the globe is also estimated to augment the overall market expansion. In addition, demand for the products based on bio-ingredients has increased drastically as a result of the rising health concerns and awareness among consumers about the hazardous nature of the petrochemicals-based products. This factor is also anticipated to boost the global market for isostearic acid over the next few years.
On the other hand, high costs associated with isostearic acid, on account of its limited supply, is likely to have a negative impact on the market development. However, increased expenditure for research and development (R&D) to expand the production capacity of the plants producing isostearic acid and to commercialize the new manufacturing plants is anticipated to provide potential growth opportunities for the market players. Thus, opening up new manufacturing facilities may also aid the manufacturers in reducing prices of this acid in near future.
The global isostearic acid market is categorized as per application and region. On the basis of application, the market is categorized as personal care, chemical esters, lubricants and greases, and others. On the basis of geographies, the market segments include Asia Pacific, Europe, North America, and Rest of the World (RoW). The Europe regional market dominated the global market in 2013. Rising demand for cosmetics from various economies in the region such as United Kingdom, Italy, France, and Germany is predicted to remain the major factors driving expansion of the regional market. In addition, swift growth in the personal care industry in East European nations such as Russia, Poland, and Ukraine is also predicted to boost the overall regional growth over the next few years.
Furthermore, strict rules and regulations by various government bodies in this region to reduce the dependency on the products based on petrochemical are also projected to augment expansion of the regional market over the coming years. The presence of isostearic acid manufacturing plants of major companies in various European countries is also likely to contribute toward the development of the regional market. The APAC region is also predicted to experience a higher growth rates over the forecast period as a result of rising consumer disposable income along with the demand for high-quality, branded personal care products in the region.
Some of the major companies operating in the global isostearic acid market include Arizona chemicals; Croda International PLC; Jarchem Industries, Inc.; Emery Oleochemicals Sdn Bhd; and Nissan Chemical Industries, Ltd. Global expansion, mergers and acquisitions, and new product development are some of the key market strategies followed by most of these players to gain maximum market share. For example, BASF SE has claimed an invention directed to the preparation of esters by reacting the mixture of acids containing 70 weight-% of poly-branched or mono-branched, saturated C16-22 fatty acids with Guerbet alcohols and the use of the esters derived from Guerbet alcohols to enhance the seal compatibility of lubricants.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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