The global butyl stearate market size was valued at USD 4.56 billion in 2021 and is likely to touch a valuation of around USD 5.18 Billion in 2022.
Further with, the rising adoption of butyl stearate across diverse industries including cosmetics & personal care, textiles, and food & beverages, the overall demand for butyl stearate is slated to increase at a steady CAGR of 4% to 4.8% between 2022 and 2032, totaling approximately USD 9.42 Billion by 2032.
| Attributes | Key Statistics |
|---|---|
| Butyl Stearate Market Base Value (2021) | USD 4.56n Billion |
| Butyl Stearate Market Estimated Value (2022) | USD 5.18 Billion |
| Butyl Stearate Market Projected Valuation (2032) | USD 9.42 Billion |
| Butyl Stearate Market Estimated Growth Rate (2022 to 2032) | 4% to 4.8% |
Butyl stearate, also called octadecanoic acid, is an organic chemical compound that belongs to the family of alkyl esters of fatty acids. It is generally prepared by reacting stearic acid with the appropriate alcohol (mostly butyl alcohol).
Most stearate esters including butyl stearate possess unique properties of low viscosity and oily nature. They have the tendency to form a hydrophobic, non-greasy film when applied to the skin or lips. Hence, stearate esters like butyl stearate are being increasingly used in the formulation of skin makeup, eye makeup, lipsticks, and skin care products.
Similarly, butyl stearate is used as a plasticizer in the production of plastic and polymers, as a raw material for spin fishes, oiling agent for textiles, as an emollient in cosmetics & personal care products, and emulsifying and flavoring agent in food & beverage industry.
Besides this, it finds its application as an ideal lubricant in metalworking and an additive for paints and printing inks. Thanks to all these mentioned applications of butyl stearate, FMI has projected a positive growth trajectory for the global butyl stearate market throughout the forecast period.
Similarly, increasing research and development activities by manufacturers to explore novel applications of butyl stearate will expand the global butyl stearate market size in the future.
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Over the years, rapid urbanization and increasing consumer spending have triggered the growth of the cosmetics & personal care industry. People across the world are spending large amounts on cosmetics and personal care products such as lipsticks, skin makeup, and numerous personal care products. According to the LOreal 2021 Annual Report, the global cosmetics market reached over 228 billion euros in 2021.
This is emerging as a major factor stimulating growth in the global butyl stearate market and the trend is likely to continue during the forecast period.
Butyl stearate has become an ideal green chemical alternative to several potentially hazardous ingredients used across industries like plastics, food & beverages, and cosmetics & personal care. It acts as a natural emollient and skin conditioning agent in personal care formulations. Rising spending on personal care products will therefore create lucrative opportunities for the butyl stearate manufacturers during the assessment period.
Similarly, the rapid expansion of the processed food industry worldwide due to changing lifestyles and rising disposable income is playing a key role in pushing the demand for butyl stearate. Food manufacturers are extensively using butyl stearate as an emulsifying and flavoring agent in foods and beverages.
The rising consumption of plastics & polymers and robust growth of the textile, metalworking, and printing ink industries will further expand the butyl stearate market size during the forthcoming years.
Although butyl stearate has numerous applications, there are certain factors negatively impacting the demand for butyl stearate. Some of these factors include the presence of alternative lubricants, flavoring agents, and several other additives, and shifting consumer preferences towards food & cosmetic products with natural ingredients.
As per FMI, sales of butyl stearate in the Asia Pacific market are projected to grow at a steady pace during the forecast period, owing to the rapidly growing population, improved standard of living, increasing spending on food and beverages products, and rapid growth of personal care and cosmetics industry.
With changing lifestyles and growing awareness, there has been a sharp hike in the consumption of cosmetics and personal care products across emerging countries like China, South Korea, Japan, and India. For instance, according to the International Trade Administration (ITA), the total retail sales value of cosmetics in China rose to USD 52.3 billion in 2020.
Consumers are spending large amounts on products like makeup. lipsticks, lip guards, anti-aging lotions, etc. to improve their looks & style. As butyl stearate forms an integral part of these products, a rise in their sales will eventually spur the growth of the butyl stearate market in the region during the assessment period.
Similarly, increasing the adoption of butyl stearate plasticizers and lubricants will further expand the butyl stearate market size in the regions during the forthcoming years.
Over the years, North America has become a prominent market for butyl stearate and this trend is likely to continue during the forecast period between 2022 and 2032.
Growth in the North American butyl stearate market is driven by the flourishing cosmetics & personal care industry, high consumer spending, the strong presence of some of the world's leading cosmetic and personal care companies, and increasing usage of butyl stearate in metalworking, textile, and food & beverages industries.
Within North America, the USA remains the most dominant market for butyl stearate due to rising production and consumption of cosmetics and personal care products such as anti-aging creams, lipsticks, makeup, and men's care & grooming product. In fact, the USA has become the world’s largest beauty and personal care product market
Similarly, increasing spending on food products is creating space for butyl stearate market growth in the region, and the trend is expected to further escalate during the forecast period.
Rising disposable income and fast lifestyle have led to a surge in the consumption of processed products in the USA For instance, as per the USA Department of Agriculture (USDA), total food spending across the USA reached a massive valuation of USD 1.69 trillion in 2020.
Some of the key manufacturers of butyl stearate include Pacific Texchem Private Limited., Mohini Organics Pvt Ltd, Jacob Stern & Sons, Inc., Fine Organics, A&A Fratelli Parodi Spa, AcarKimya A.S., Allan Chemical Corporation, Nayakem Organics Pvt. Ltd., Green Biologics Ltd, and Penta Manufacturing Company among others.
These leading players are constantly indulging in strategies such as expanding production capacities, price reduction, the establishment of new manufacturing facilities, partnerships, acquisitions, and collaborations to expand their global footprint and gain an upper hand in the global butyl stearate market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4% to 4.8% from 2022 to 2032 |
| Projected Market Valuation (2032) | USD 9.42 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Form, Grade, Application, End Use, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; Asia Pacific excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled |
Pacific Texchem Private Limited.; Mohini Organics Pvt Ltd; Jacob Stern & Sons, Inc.; Fine Organics; A&A Fratelli Parodi Spa; AcarKimya A.S.; Allan Chemical Corporation; Nayakem Organics Pvt. Ltd.; Green Biologics Ltd; Penta Manufacturing Company |
| Customization | Available Upon Request |
The global butyl stearate market is set to grow at a CAGR of around 4% to 4.8% during the assessment period.
As per FMI, Asia Pacific will emerge as the most lucrative market for butyl stearate during the forecast period.
The butyl stearate market is likely to touch a valuation of USD 9.42 Billion by 2032.
Pacific Texchem Private Limited., Mohini Organics Pvt Ltd, Jacob Stern & Sons, Inc., Fine Organics, A&A Fratelli Parodi Spa, AcarKimya A.S., Allan Chemical Corporation, Green Biologics Ltd are some prominent players operating in butyl stearate market.
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Butyl Stearate Market
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