Metallic stearates, also called as stearic acids, are metal salts produced by the reaction between stearic acid and metal salts such as metal chloride & metal oxides. Various types of stearate include zinc stearate, aluminum stearate, calcium stearate, magnesium stearate, and others. These stearates can act as gelling agents, plastic stabilizers, etc. and thus find wide range of applications in plastics, pharmaceuticals, rubber, and textiles industries. Among these, plastics and rubber industries were the largest consumers of metallic stearates.
Plastics Sector to Generate the Maximum Product Demand
In 2016, plastics segment accounted for the largest revenue share of 30 % of the overall market. It is projected to expand further at a growth rate of 4.6 % from 2018 to 2025 owing to the increasing use of plastics in different applications such as packaging. Metallic stearates are used as mold release agents, lubricants, and acid scavengers, in this industry to improve the surface texture of the final products.
Valtris Specialty Chemicals recently added two new products called Petrac 200 and Petrac 230 in their portfolio of lubricants. The Petrac 200 is based on Fischer-Tropsch (FT) wax technology, and Petrac 230 is a High-Density Oxidized Polyethelene wax or HD OxPE. According to the company, these products are designed to enhance the extrusion of rigid PVC compounds.
In 2016, rubber industry was the second-largest application segment and accounted for USD 700 million of the total market size. The stearates such as magnesium, zinc, and calcium are used in the rubber industry due to their suitable melting points. Dry metallic stearates are extensively utilized as release agents for uncured and cured rubber, which prevents sticking of rubber in mold.
Market Overview
According to a report by Grand View Research, Inc., the worldwide metallic stearates market is estimated to reach at USD 4.84 billion by 2025. The market is expected to grow at a CAGR of 5.4 % from 2018 to 2025. Rising awareness and product usage in industries such as cosmetics and plastics due to technological advancements are anticipated to drive the market in the coming years. In 2016, Asia Pacific accounted for the largest revenue share and is likely to grow further at a CAGR of 6 % from 2018 to 2025. Some of the leading companies in the market include PMC Biogenix, Inc.; Peter Greven GmbH & Co.KG; Dover Chemical Corporation; Valtris Specialty Chemicals; and Seoul Fine Chemical Ind. Co., Ltd.
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