Metallic Stearate Market

Market Overview

The global metallic stearate market size was valued at USD 3.526 billion in 2022. It is estimated to reach USD 5.025 billion in 2031, growing at a CAGR of 4.02% during the forecast period (2023–2031).

Metallic stearates are metal soaps composed of stearic acid, an 18-carbon chain fatty acid, and various alkali metals such as aluminum, calcium, magnesium, and zinc. They are created by substituting a metal cation from direct metal, metal oxide, metal hydroxide, metal sulfates, or metal chlorides for the carboxylic hydrogen of stearic acid. Calcium, magnesium, and zinc are the metal stearates that are most frequently utilized. Stearate is water-resistant, excellent for lubrication, and has a considerably higher melting point than other metallic soaps, thanks to the long hydrocarbon chain of stearic acid. 

Metallic stearates can be used for various things, from simple constructions to complex toys, in several industries, including polymer and rubber, cosmetics and pharmaceuticals, building and construction, and paints and coatings. Metallic stearates have a structure resembling that of a carboxylate salt. It has a stearic acid tail and an alkali metal cation head. Metallic stearates are hydrophobic due to the 18-carbon hydrocarbon chain's complete saturation, which prevents it from dissolving in water. 

Highlights

• Zinc stearate dominates the product segment
• Plastics dominate the application segment
• Asia-Pacific is the highest shareholder in the global market

Market Dynamics

Global Metallic Stearate Market Drivers

Significant Demand from Plastics Industry

Metallic stearates have significant usage in the plastics industry. They are utilized as lubricants, mold release agents, and acid scavengers in the plastics industry. The surface texture of plastic articles is improved with metallic stearates. They also reduce friction and are used in melt processing in the plastic industry. Various plastics such as polyethylene (PE), polypropylene (PP), polystyrene (PS), polyamide (PA), acrylonitrile butadiene styrene (ABS), and polyvinyl chloride (PVC) are the major applications of metallic stearates. Global plastics production has increased from 311 million metric tons in 2014 to 359 million metric tons in 2018, owing to substantial demand from end-user industries.

Thermoplastics, including polypropylene, polyethylene, polystyrene, polyvinyl chloride, expanded polystyrene, polyethylene terephthalate, SAN, ABS, fluoropolymer, polyamides, and polycarbonate were the key contributors to the market growth. In addition, key applications of plastics comprise sheets, films, boxes, plates, foil, strips, and bottles. Packaging, building and construction, automotive, electronic, electrical, and consumer goods were the leading end-user industries that consume plastics. As a result, the prolific increase in plastics and plastic-based articles production is anticipated to drive the metallic stearates market during the forecast period.

Augmented Usage in the Rubber Industry

Metallic stearates have substantial usage in the rubber industry as mold release agents. Dry metallic stearates are used as release agents for cured and uncured rubber, preventing the rubber from sticking to the mold. Due to their suitable melting point, zinc stearate, magnesium stearate, and calcium stearate are commonly used in the rubber industry. They are applied in different forms, such as powdered and solutions. Uncured rubber requires quick removal of heat to prevent scorching. As a result, it is cooled before stacking. Uncured rubber is molded via compression and transfer, which requires metallic stearates.

Asia-Pacific dominated the rubber market, followed by Europe and North America. Indian synthetic rubber consumption reached 686,325 tons by the end of 2018, and imports around half of the synthetic rubber consumed to meet the demands. The strong presence of automotive manufacturers in South Korea, Japan, and China has also triggered the synthetic rubber demand. Potential development in the automotive sector has boosted the demand for rubber in tire applications. A considerable upsurge in rubber manufacturing is predicted to drive the metallic stearates demand over the forecast period.

Global Metallic Stearate Market Restraints

Volatility in Raw Material Prices

The metallic stearates market has experienced significant challenges owing to high raw material prices. The key raw material required to produce metallic stearates is stearic acid. Stearic acid is a long-chain fatty acid from vegetable oils and animal fat. It can be extracted from vegetable oils such as palm kernel, coconut, soybean, and rapeseed. However, palm kernel oil is most widely used in stearic acid production. Fluctuation in the prices of palm kernel oil leads to instability in the prices of stearic acid, which hampers the metallic stearate market.

Global Metallic Stearate Market Opportunities

Adoption of Ecologically Sustainable Measures

Adoption of sustainable practices generates new market opportunities for metallic stearates. With surging awareness of the environmental impact of traditional metallic stearates, many end-user industries are searching for more sustainable alternatives that satisfy their performance specifications. This has led to the creation of bio-based metallic stearates derived from renewable sources with a smaller environmental footprint than conventional metallic stearates. In addition, many end-user industries favor bio-based metallic stearates because they are safer and more environmentally friendly.

Regional Analysis

Based on region, the global metallic stearate market is bifurcated into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant global metallic stearate market shareholder and is estimated to exhibit a CAGR of 5.6% during the forecast period. Asia-Pacific dominated the global metallic stearates market owing to expansion in end-user industries such as building and construction, pharmaceuticals, rubber, plastic, paint and coatings, and others. In terms of volume, the metallic stearate market in the Asia-Pacific is projected to expand faster, attributed to surging demand for metallic stearate from countries like China, India, South Korea, Japan, and others. In addition, India and China are among the fast-developing countries, driving the demand for construction, plastic, and rubber industries. Metallic stearates, due to their release and lubrication properties, are widely used in the pharmaceutical and cosmetics industries. Countries like China and South Korea are witnessed to have the largest cosmetics market, which is estimated to surge the consumption of metallic stearates in the Asia-Pacific region.

North America is estimated to exhibit a CAGR of 2.5% over the forecast period. Metallic stearate demand across North America is likely to be driven by increasing demand for the product from the cosmetics and pharmaceutical industry, followed by the plastics industry. Countries such as the U.S. are hubs for the most valuable cosmetic and personal care products globally, and the overall market is growing at an average rate of 5.5% annually. In addition, metallic stearates formulate makeup, personal care, and skincare products. A positive outlook on personal care products and cosmetics across the North American market is anticipated to pave the way for the region's steady consumption of metallic stearates.

Furthermore, the region is home to multiple pharmaceutical companies and accounts for an average of over 45% of the overall pharmaceuticals worldwide. The United States is home to the majority of the world's largest companies. Growing pharmaceutical companies in the region will likely boost demand for metallic stearates across the region over the coming years.

In Europe, growth in applications such as the cosmetics and food industries are expected to be the primary drivers of metallic stearate. The market value of the European food and beverage industry was estimated to reach USD 22.9 billion by the end of 2021 and to grow at a rate of 5.5% from 2021 to 2025, reaching USD 27.18 billion. The market experiences an average revenue of USD 142.28 per user which is driven by constant innovation in the field by multinationals and high dependence on processed food and beverages across Europe. Furthermore, the cosmetics sector of the region is majorly driven by high demand from Germany and France, followed by Italy, Spain, and Portugal. Growing demand for personal care coupled with increased expenditure towards skin care, hair care, and makeup routine among the youth is also anticipated to pave the way for higher consumption of metallic stearate across the region.

In Central and South America, high demand for the product from Brazil and Argentina typically drives metallic stearate demand. The food and beverages sector of the region is observed to be in high demand due to the increased dependence of the native population on processed food products. In addition, the rubber industry across the plastics and rubber sector of Central and South America is largely dependent on growth capital investments and expanding market compositions. The country is export-oriented in terms of the plastics and rubber demand; the market for metallic stearates across these industries is bound to reflect high growth due to increasing renovation activities of old infrastructure coupled with substantial demand for automotive spare parts and packaging components demands. These factors will increase demand for the substance across the region over the foreseeable future.

In the Middle East and Africa, the metallic stearate market is projected to grow rapidly, mainly dominated by the polymer, fragrances, cosmetics, and food and beverages industries. Over the last few years, the pharmaceutical industry of the Middle East has observed remarkable growth owing to government initiatives focusing on the well-being of the growing population. The growing population majorly drives the pharmaceutical sector of this region. In addition, the beauty and cosmetics market in the Middle East and Africa shows healthy growth with a continuous rise in revenues. A major factor in the increase in demand for metallic stearate is the development of the cosmetics business. 

Segmental Analysis

The global metallic stearate market is segmented by product and application.

Based on the product, the global metallic stearate market is bifurcated into zinc stearate, calcium stearate, aluminum stearate, magnesium stearate, sodium stearate, lithium stearate, and others.

The zinc stearate segment dominates the global market and is predicted to exhibit a CAGR of 3.9% over the forecast period. Zinc stearate is a water-repellent white solid. It is insoluble in polar solvents like ether and alcohol, but it is soluble in chlorinated and aromatic hydrocarbons. Since zinc stearate contains no electrolytes and has a hydrophobic agent, it is considered the most powerful mold release agent. Its main application areas include the rubber and plastics industries, where they are used as release agents and lubricants. Zinc stearate is used as a thickening agent and lubricant to improve the texture of cosmetics. Zinc stearate's clarity and heat stability properties make them suitable for crystal and impact-grade polystyrene and other clear polymers. In addition, the paint and coatings industry uses zinc stearates for pigment suspension and to improve matting and grind ability. Zinc stearates are powdered and precipitated in the building and construction industry as a hydrophobic agent for plasters. It functions as a process aid and acid scavenger in certain polyolefin.

Calcium stearate is a white waxy powder classified as a calcium soap. It is recognized as physiologically safe and has become increasingly important in recent years. It is insoluble in most solvents and dissolves only slightly when heated in chlorinated hydrocarbons, aromatic compounds, mineral and vegetable oils, and waxes. The plastics industry mainly uses calcium stearate as a mold release agent, lubricant, and acid scavenger. The building and construction industry uses it as a hydrophobic agent to prevent moisture absorption and preserve building and construction materials. In addition, the cosmetics and pharmaceutical industry uses calcium stearate as an anti-caking additive for granules and powders. Calcium stearate is cheap and easy to produce and thus is expected to increase in demand over the forecast period. With the growing cosmetics and building and construction industry, the demand for calcium stearates is expected to rise over the forecast period.

Based on application, the global metallic stearate market is segmented into plastics, rubber, pharmaceutical, cosmetics, building and construction, paints and coatings, and others.

The plastics segment owns the highest market share and is estimated to exhibit a CAGR of 4.3% during the forecast period. Metallic stearates are used primarily as lubricants, acid scavengers, and release agents by the plastics industry and are becoming increasingly important in melt processing., Using metallic stearates allows the processor to produce finished articles with lower friction and smoother surfaces, along with optimizing production. Metallic stearates are primarily derived from organic materials; therefore, they tend to degrade when exposed to extremely high temperatures. This exposure results in discoloration of the stearates. In addition, major players in the automotive market, such as Lanxess AG and Polyplastics Co., Ltd, use metallic stearates to produce plastics. Baerlocher GmbH has developed a range of thermostable metallic stearates that are highly resistant to discoloration when used in brightly colored or transparent thermoplastics, even at high processing temperatures.

Metallic stearates have been used as release coatings for uncured rubber. Due to their suitable melting point, zinc stearate, magnesium stearate, and calcium stearate are commonly used in the rubber industry. Zinc stearate is the most commonly used one to date, but due to government environmental regulations have limited its use and control of its working range. This limitation has caused greater interest in using calcium and magnesium stearate by rubber companies. In addition, metallic stearates have distinctive properties that make them excellent rubber release agents. An industrial rubber goods manufacturer has several processes that require uncured rubber to be kept from sticking. Transfer molding, compression molding, and extrusions are some processes that use metallic stearates. Major players in the market, including Goodyear Tire & Rubber Company and Bridgestone, use rubber tires that use metallic stearates during production. 

Recent Developments

• April 2023- Dover Chemical Corporation changed its electricity provider from Dover Light & Power to AEP Ohio. Shane Gunnoe, the mayor of Dover, has reassured residents that residential electricity rates will not increase as a result.
• October 2022- Dover Chemical Corp. agreed to pay approximately USD 1.4 million to settle lengthy environmental reviews regarding the chemical impact on water and riverbanks near its facility and to fund new habitat restoration projects in Tuscarawas and neighboring counties.