Metallic Stearates Market Size

Metallic Stearates Market Growth Projections and Opportunities

The global metallic stearates market, valued at USD 3,129.3 million in 2017, is anticipated to witness a robust growth trajectory with a projected Compound Annual Growth Rate (CAGR) of 5.71%, reaching USD 4,343.4 million by 2023. This growth is primarily attributed to the increasing utilization of Polyvinyl Chloride (PVC) in diverse industries such as healthcare, polymer, and building & construction, consequently boosting the demand for metallic stearates. Furthermore, escalating investments in the construction sector and the surging demand for medical devices and drugs are expected to contribute significantly to the market's expansion.
The global metallic stearates market is segmented based on product type, application, and region. In terms of products, the market is categorized into zinc, aluminum, magnesium, calcium, and others. Among these, the zinc segment holds the largest market share, valued at USD 1,411.0 million in 2017 and anticipated to reach USD 1,981.9 million by 2023. This segment's growth is attributed to the increasing demand for metallic stearates in applications such as polymers, rubber, and paints & coatings due to its lubricant properties. The "others" segment, covering textiles and ceramics, was valued at USD 246.5 million in 2017 and is projected to reach USD 311.6 million by 2023.
In terms of applications, the polymer and paper segment emerged as the fastest-growing segment, valued at USD 656.9 million in 2017 and expected to reach USD 911.3 million by 2023. The rubber application segment, valued at USD 1,193.9 million in 2017, is projected to maintain a CAGR of 5.71% during the period from 2018 to 2023. This growth aligns with the increased production of natural rubber, rising from 12.243 million tons in 2017 to 12.852 million tons in 2018, according to the Association of Natural Rubber Producing Countries (ANRPC).
Geographically, the Asia-Pacific region holds a significant market share, accounting for 48.39% and valued at USD 1,514.2 million in 2017. The anticipated growth in this region is attributed to the expanding industrial base and the rising per capita disposable income of consumers. The rubber, paints & coatings, and polymer & paper industries in the region are expected to present lucrative opportunities for market players. Europe is expected to emerge as a prominent market due to the thriving healthcare industry, with direct spending reaching USD 214.74 billion in 2018. North America and the Middle East & Africa are poised to register healthy CAGRs, driven by the growing end-use industries such as pharmaceuticals and paints & coatings during the forecast period.
the global metallic stearates market is on an upward trajectory, fueled by the versatile applications of metallic stearates, especially in the thriving PVC sector and other industries. The regional dynamics indicate robust growth potential in Asia-Pacific, Europe, North America, and the Middle East & Africa, emphasizing the market's resilience and adaptability to diverse industrial demands.