The global stearic acid market is competitive as large number of well-established petrochemical manufacturers are operating in this industry. Some prominent manufacturers are The Chemical Company, VVF LLC, Cayman Chemical, U.S. Chemicals LLC, Deeno Group, Parchem, Pacific Oleochemicals, Kao Chemicals, Emery Oleochemicals, BASF, and AkzoNobel. Leading players operating in this industry are adopting merger & acquisition, research & development, new product development, and facility expansion strategies to strengthen their geographical reach and increase customer base. For instance, in sept 2017, the Malaysian state of Sabah is expected to start its first oleochemical plant to process industrial palm oil in to soap noodles and stearic acid. Increasing oleochemicals production expansion followed by rising stearic acid demand for personal care products, rubber processing, lubricants, textile, and soap & detergents is expected to prompt new manufacturers to enter in to the industry to cater untapped market in developing economies.

By application, the stearic acid market size segmented as soaps & detergents, intermediates, personal care, rubber processing, textile, lubricants, and others. In 2018, soaps and detergents were the largest application group, accounting for more than 25.0% of overall demand. In the coming years the segment is expected to experience rapid growth. Body lotions are made in stearic acid, along with edible margarine, which is expected to fuel the growth of the global stearic acid industry.

PVC softening is applied to chemical salts such as lead, zinc, calcium, and cadmium. Also, they are used as release agents in the manufacture of automotive tires. Increasing spectrum of use as an additive in negative plates and the manufacture of lead acid batteries is also expected in the near future to generate demand. This can also be used as a hardening agent in dietary supplements and in the manufacture of candy which is meant to have a positive effect on the development of the industry.

Stearic acid serves as a lubricant in applications for injection molding, thereby creating substantial demand in the industrial field. Niche uses include the manufacturing of lamps, coatings, alcohol plasticizers, cleaners and paints. Because of the rising product reach in emerging economies such as India, China and Japan, personal care is expected to be the fastest growing application category.

The Asia Pacific was the largest regional market in 2018, representing more than 40.0% of overall demand. Because of rapid industrialization, the region is projected to see the fastest growth. Increasing demand for cosmetics & personal care, textile manufacturing, lubricants, and tire production is expected to increase stearic acid market concentration in India, China, Japan, South Korea, Southeast Asia, and Australia

The Asia Pacific is expected to be one of the promising regional markets due to increasing demand in emerging countries such as China and India for personal care items due to increased disposable income and changing lifestyles. Increasing the manufacturing of oleochemicals in Southeast Asia is expected to have a positive effect on demand growth in the near future due to the growing availability of vegetable oils.

It is expected that mature regional markets such as North America and Europe will produce substantial revenue due to increasing demand in countries such as the US and Germany respectively. The Middle East and Africa are expected to experience high demand as plasticizers and lubricants due to the growing population and expanding the scope of application. Recovery in the construction industry and increasing the beauty and cosmetics industry in Brazil and Argentina is expected to open new opportunities for stearic acid manufacturers in Central & South America over the coming years. Additionally, the region is a hub for the automotive industry, which in turn will further add market growth.