Zinc Stearate Market Share Analysis, Business Segments and Key Drivers 2023
Market Segmentation:
Global Zinc Stearate Market is segmented on the basis of Application, End Use Industry, and Region.
On the basis of the Applications, the market is classified as a release agent, thickening agent, emulsifier, and others. Among all, the release agent is the most promising application segment acquired over half of the global market as of 2016. Zinc stearate is used as a release agent, specifically, in the rubber industry and in plastic industry. In rubber production, it plays a crucial role during vulcanization process by playing a role of activator in the cross-linking of natural rubber. Hence, booming rubber production across the globe is majorly driven by transportation industry has made this segment most impactful. Plastic manufacturing is another potential application area of the Zinc Stearate wherein it is used as a color enhancer, and it is anticipated to grow at the highest CAGR during the forecast period of 2017-2023. Consistent rise in the demand for plastic products across various end-use industries coupled with a range of applications served by plastic products in household& FMC sector is a major growth driver.
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Furthermore, based on End-Use Industries, Global Zinc Stearate Market has been segmented into rubber industry, plastic industry, paints & coatings, pharmaceutical, cosmetics, paper industry, construction, and others. Among all, the rubber industry was the major stakeholder in this market due to crucial role served by Zinc Stearate during rubber vulcanization process. Since the transportation industry has been growing significantly over the past decade supported by automotive industry the, demand for rubber (tire) on the rise year by year. Due to increased spending power, the demand for vehicles is forecasted to grow consistently and has set health consumption trend for rubber manufacturing, ultimately for zinc stearate. After rubber industry, plastic industry has held substantial shares in this market as of 2016. As per the industry experts, plastic production is expected to rise significantly due to excess demand and supply gap supported by vast plastic demand. Therefore, this industry represents a potential application and is likely to provide various growth opportunities accordingly in the coming years. Zinc Stearate offers a range of application in the cosmetics industry, and the industry is expanding at a healthy CAGR. As of 2016, the industry is progressing in terms of global shares due to increasing application scope and is forecasted to grow in the same trend.
Market Analysis:
Zinc Stearate is a zinc soap, highly preferred in industrial applications. It is a compound of long-chain fatty acids with Zinc attached to it and it is the most powerful mold release agent among all metal soaps. It contains no electrolyte and has a hydrophobic effect, and due to this versatile nature, this substance is used in many different types of applications, from plastic industries to concrete manufacturers. Its main application areas are the plastics and rubber industry where it is used as a releasing agent and lubricant, which can be easily incorporated.
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Competitive Analysis:
Some of the Prominent Players Operating in the Zinc Stearate Market are Dover Chemical CorporationTerms (U.S.), Baerlocher GmbH (Germany), Fac Asia Pacific Pte Ltd (Italy), Peter Greven GmbH & Co. KG (Germany), Valtris Specialty Chemicals (South Africa), Norac Additives (U.S.), Nikunj Chemicals (India), Pratham Stearchem Pvt. Ltd (India), Linan Huali Plastic Co., Ltd.(China) and Nimbasia (India).
Regional Analysis:
The Asia Pacific is the most promising market regionally and has acquired largest shares as of 2016. Major growth drivers in this region are the vast production of zinc stearate due increasing export activities, the emergence of China as a global manufacturing hub, record tire production in the Asia Pacific as of 2016. China and India are the key economies in this region driving the demand for Zinc Stearate followed by Japan, Vietnam, and South Korea. Moreover, consistent rise in the population and therefore, widening consumer base are the other factors contributing significantly to the regional growth of the Asia Pacific market.
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