DUBLIN--(BUSINESS WIRE)--The "India Stearic Acid Market By Type (Vegetable Based vs Animal Based), By End Use (Soaps & Detergents, Rubber Processing, Textiles, Personal Care & Others), By Distribution Channel (Distributors vs Direct), Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The Indian stearic acid market was valued at around $ 216 million in 2018 and is projected to reach nearly $ 344 million by 2024, exhibiting a CAGR of 8.6%.
Increasing awareness about benefits of personal care products among customers is resulting in higher usage of cosmetics and personal care products as they protect their skin from harmful UV rays, besides providing other benefits.
Moreover, increasing disposable income and purchasing power of the population is further leading to the high demand for cosmetics and personal care products, thereby fueling growth in the stearic acid market as well.
Moreover, favorable government policies are expected to drive investment in the industrial sector, thereby resulting in the increasing demand for stearic acid from end-use industries such as chemicals, lubricants, rubber processing and plastics.
The market for stearic acid has been segmented into type, end-use, distribution channel and region.
Among types, the vegetable-based segment is anticipated to lead the Indian stearic acid market.
Based on application, the market is categorized into Soaps & Detergents, Personal Care, Textiles, Lubricants, Rubber Processing and Others (Intermediates, Plastics, etc.). The soaps & detergent segment holds the maximum share in the Indian stearic acid market on the back of growing preferences for naturally produced stearic acid as a raw material in soaps and detergents production owing to their competitive prices and no harmful and allergic effects on humans. The soaps & detergent segment led the Indian steric acid market with market share of approximately 29% in 2018.
Based on distribution channel the market is bifurcated in direct sales and distributors sales. In 2018, distributors sales held the maximum share in the Indian stearic acid market. However, direct sales of stearic acid are expected to increase during the forecast period, backed by stearic acid manufacturers' focus on maintaining and retaining more satisfied clients in long run.
Regionally, the market has been segmented as West, South, North and East. The Western region is the largest consumer of stearic acid in India and is anticipated to grow at a CAGR of 8.1% during the forecast period owing to increasing investment in major downstream sectors such as chemicals, automotive, textiles, pharma & biotechnology, etc.
Some of the leading players in the Indian stearic acid market are VVF (India) Limited, Godrej Industries Limited, 3F India Limited, Jocil Limited, Sheel Chand Agroils Private Limited, Fine Organics Industries Pvt. Ltd., TGV SRAAC Limited, Adani Wilmar Limited, Pioneer Agro Extracts Ltd., Ritesh International Limited, among others.
Years Considered
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study
- To analyze and forecast India stearic acid market size.
- To forecast the Indian stearic acid market based on type, end-use, distribution and region.
- To identify drivers, challenges and trends India stearic acid market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India stearic acid market.
- To conduct pricing analysis for India stearic acid market.
- To identify and analyze the profile of leading players involved in the manufacturing of stearic acid.
Key Topics Covered
1. Stearic Acid: An Introduction & Component Classification
2. Research Methodology
3. Analyst View
4. India Stearic Acid Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value & Volume
4.2. Market Share & Forecast
4.2.1. By Type (Animal based Vs. Vegetable based)
4.2.2. By End Use (Soaps & Detergents, Personal Care, Textiles, Lubricants, Rubber Processing and Others)
4.2.3. By Distribution Channel (Direct v/s Distributors)
4.2.4. By Region (North India, South India, West India and East India)
4.2.5. By Company
4.3. Market Attractiveness Index (By Type; By Distribution Channel; and By Region)
5. West India Stearic Acid Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Type
5.2.2. By End Use
5.2.3. By Distribution Channel
6. South India Stearic Acid Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By End Use
6.2.3. By Distribution Channel
7. North India Stearic Acid Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By End Use
7.2.3. By Distribution Channel
8. East India Stearic Acid Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By End Use
8.2.3. By Distribution Channel
9. Supply Demand Scenario
9.1. Total Domestic Demand
9.2. Total Domestic Supply
9.3. Import & Export Analysis
10. Key Export Markets
10.1. List of Up To 5 Export Markets
10.1.1. Total Demand in Up To 5 Export Markets
11. Supply Chain Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Policy & Regulatory Landscape
15. India Economic Profile
16. Competitive Landscape
16.1. Competition Outlook
16.2. Company Profiles
16.2.1. VVF (India) Limited
16.2.2. Adani Wilmar Limited
16.2.3. Godrej Industries Limited
16.2.4. Jocil Limited
16.2.5. 3F India Limited
16.2.6. TGV SRAAC Limited
16.2.7. Sheel Chand Agroils Private Limited
16.2.8. Fine Organics Industries Private Limited
16.2.9. Ritesh International Limited
16.2.10. Pioneer Agro Extracts Ltd.
17. Strategic Recommendations
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