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Global Isostearic Acid Market Size, Share, Development, Growth and Demand Forecast to 2020 - Industry Insights by End-User

  • October 2015
  • 82 pages
  • P&S Market Research
Report ID: 3605394

Summary

Table of Contents

Isostearic acid is a methyl branched fatty acid that is used as a binder, surfactant, dispersant in various industries, including personal care, chemical esters, lubricants and greases, textile, and packaging. The consumer expenditure on cosmetics products is increasing due to higher fashion consciousness, improved purchasing power, and growing aging population. The growing awareness regarding hazardous nature of petrochemical products among consumers is inclining their interest towards bio ingredients, which is driving the growth of the global isostearic acid market. Based on end- user, the global isostearic acid market has been categorized into chemical esters, personal care, lubricants and greases, and others (including textiles, oil extraction, rubber and polymer, and industrial and institutional cleaning).

In 2014, the global isostearic acid end-user market was dominated by chemical esters with 35.7% share in volume terms and 36.7% share in value terms. The isostearic acid-derived chemical esters are used as ingredients to manufacture cosmetic products, such as skin care and hair care products, lipsticks, and sun protection creams. The demand for isostearic acid-derived chemical esters is driven by its multifunctional properties, such as strong dispersion and adhesion, and emollient and water repellent nature.

Some of the major drivers behind the growth of the global isostearic acid market include growing cosmetics product market, and increasing lubricants and greases industry. The growing automotive industry, in conjunction with massive industrial growth within the developing markets of Asia- Pacific and Africa is driving the growth of the lubricants and greases market globally, which in turn are supporting the growth of the global isostearic acid market. The impact of increasing lubricants and greases industry on the global isostearic acid market is expected to be medium in short term, as the lubricants and greases industry accounts for a low share in the overall isostearic acid market. However, owing to continuous innovation and various applications of the acid in the lubricants and greases industry, the demand for isostearic acid in the industry is expected to grow with a faster rate than other end-user industries. Due to these factors, the impact of the growing lubricants and greases industry on the global isostearic acid market is projected to be high in the medium and long terms.

However, isostearic acid is highly priced, which limits its usage in end-user industries. There are various substitutes for isostearic acids (such as lauric acid, myristic acid, palmitic acid, stearic acid, ricinoleic acid, oleic acid, behenic acid, erucic acid, and coconut fatty acid), which are readily available in the market at lower prices. The impact of wide availability of substitutes on the global isostearic acid market is expected to be high in the short term and mediocre in the medium and long terms. The personal care industry is the major consumer of isostearic acid, where it is used as a binder and emulsifier. Lauric acid and myristic acid are the most popular fatty acids used in the personal care industry, owing to their low costs. The production cost of isostearic acid is high, on account of which, its sales price is also high in comparison to other saturated fatty acids. However, due to continuous R&D activities by isostearic acid manufacturers, the production cost is expected to be lower in the near future.

The global isostearic acid market was valued at $290.7 million in 2014, and it is expected to grow with a CAGR of 7.3%, during the period 2015 - 2020. Geographically, the European isostearic acid market accounted for the largest share in the global isostearic acid market in 2014.

The key companies operating in the global isostearic acid market include Oleon NV, Croda International Plc, Jarchem Industries Inc., Arizona Chemical Company LLC, Nissan Chemical America Corporation, and Emery Oleochemicals (M) Sdn Bhd.

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