According to a new market report published by Credence Research “Global Isostearic Acid Market Growth, Future Prospects and Competitive Analysis, 2016 – 2023,” the isostearic acid market is expected to reach over US$ 539 Mn by 2023, expanding at a CAGR of 7.1% from 2016 to 2023.
Browse the full Isostearic Acid Market for Personal Care, Chemical Esters, Lubricant & Greases and others Applications- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2023 report at http://www.credenceresearch.com/report/isostearic-acid-market
Global isostearic acid market revenue is expected to grow at significant rate of 7.1% over the forecast period 2016-2023. Growing demand for lubricants and greases due to increasing automotive and industrial activities is expected to drive the growth of isostearic acid market over the forecast period. According to industry experts, lubricants and greases is expected to remain the key driver for isostearic acid market coupled with increasing demand for personal care owing to growing per capita consumption and increasing export of cosmetic products especially in region such as Europe which is anticipated to fuel the growth of isostearic acid market. Growing demand for isostearic acid due to growing food and chemical industry is expected to fuel the demand for chemical esters segment over the forecast period. In 2015, Europe was observed as the largest and Asia pacific was the fastest growing market for isostearic acid with XX% and XX% market share by value respectively. Due increasing personal care and cosmetics industry exports from China, Japan and South Korea; over past few years isostearic acid is gaining popularity in personal care application in Asian countries. The market for isostearic acid in Latin America and Middle East & Africa is likely to grow considerably during the forecast period owing to increase in utilization of isostearic acid in lubricants and Greases.
Croda International plc (United Kingdom), Arizona Chemicals (United States), Oleon NV (Belgium), Nissan Chemical Industries, Ltd. (Japan), Emery Oleochemicals (Malaysia) and Jarchem Industries, Inc. (United States) are key manufacturers in isostearic acid market. Manufacturers are expanding their plant capacities to match the growing demand of Isostearic Acid. Three fourth of the market share is enjoyed by the top two isostearic acid manufacturing groups.
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- Growing demand from lubricants and greases
- Growing array of applications in personal care industry
- Increasing exports of personal care products from Asia pacific
- Growing demand from food and chemical industry