Stearic Acid Price Trend

Stearic Acid Prices December 2023

South Korea saw a significant gain in its currency, which impacted the pricing of stearic acid in the country. Besides this, stable export supplies and sustained demand from winter tire sectors contributed to price stability across the country. The latest price of stearic acid (rubber grade) in South Korea for the last quarter was 1322 USD/MT.

The Netherlands experienced a slight surge in prices, influenced by diminished industrial activity and the mild demand from the winter tire sector, resulting in lower inventories and higher prices. The latest price of stearic acid (rubber grade) in the Netherlands for the fourth quarter stood at 1576 USD/MT, exhibiting a slight hike compared to the previous quarter.

Stearic Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Stearic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of stearic acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of stearic acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of stearic acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing stearic acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Stearic Acid Market Analysis

The global stearic acid market size reached 9 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 14.4 Million Tons, at a projected CAGR of 5.40% during 2023-2032.

• The widespread product utilization in a number of personal care products, including soaps, cosmetics, and various detergents due to its emulsifying and cleansing properties represents the key factor driving the market growth.
• Furthermore, the surging use of this compound in the production of rubber and rubber products, including tires, is providing an impetus to the market growth as demand for tires with longer service life and more wear resistance continues to grow.
• According to IMARC, the global tire market is projected to be valued at US$ 256.8 Billion by 2032, growing at a CAGR of 4.9%, which is further contributing to the market growth.
• In confluence with this, the rising product employment in the manufacturing of plastic products across the thriving plastics industry, particularly as a stability and slippage agent in the production of polyvinyl chloride (PVC) is creating a positive outlook for market expansion.
• Additionally, the flourishing expansion of the food industry, wherein this compound is utilized as an additive and emulsifier in confectionery and chocolate products as well as in the margarine industry is acting as another significant growth-inducing factor.
• Besides this, the market is also benefiting from increasing industrialization and urbanization across the world, spurring the demand for this acid in construction to manufacture adhesives, coatings, and paints.
• The burgeoning growth of the textile sector, where this compound is extensively utilized for its fabric-softening property, is presenting lucrative opportunities for market expansion.
• The escalating awareness about the biodegradable and non-toxic nature of this compound aligns with the global shift towards sustainability and efforts to curb carbon emissions, which is further bolstering the market growth.
• Moreover, recent breakthroughs in production technologies enabling the use of cost-effective manufacturing processes and enhancing product quality are propelling the market forward.
• Apart from this, the supportive regulatory environment encouraging the adoption of this compound in a plethora of industrial applications owing to its favorable environmental impact is fueling the market expansion.

Stearic Acid News

The report covers the latest developments, updates, and trends impacting the global stearic acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in stearic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the stearic acid price trend.

Latest developments in the stearic acid industry:

• In 2021, BASF and PETRONAS Chemicals Group Berhad collaborated together to expand the annual production capacity of 2-Ethylhexanoic Acid (2-EHA) from 30,000 to 60,000 metric tons by 2024.

Product Description

Stearic acid, a saturated fatty acid, is a versatile compound with widespread applications across various industries. In its solid form, it appears as a white, waxy substance with a slight odor. The primary source of stearic acid is natural fats and oils, particularly animal fats like beef tallow and vegetable oils such as palm oil and coconut oil. Stearic acid is commonly produced through the saponification of these fats and oils, followed by fractional crystallization.

In the industrial sector, stearic acid finds extensive use as an intermediate in the manufacturing of various products. Besides this, it is also used as an emulsifier and surfactant in the production of cosmetics, personal care products, and pharmaceuticals. Due to its ability to stabilize emulsions and form creamy textures, stearic acid is widely incorporated into creams, lotions, and ointments, imparting smoothness and consistency to the final products. Moreover, in the cosmetics industry, it is particularly valued for its moisturizing properties and its ability to enhance the spreadability of formulations.

Furthermore, stearic acid serves as a crucial ingredient in the production of soaps and detergents. Its role as a surfactant enables it to reduce the surface tension of water, facilitating the dispersion and removal of dirt and grease from surfaces. Additionally, stearic acid contributes to the formation of lather in soaps, enhancing their cleansing efficacy and providing a luxurious feel to the user.

Regional Coverage

The report provides a detailed analysis of the stearic acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the stearic acid price trend.

Global Stearic Acid Price

The report offers a holistic view of the global stearic acid pricing trends in the form of stearic acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of stearic acid but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed stearic acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Stearic Acid Price

During the fourth quarter of 2023, the market in Europe was characterized by various factors that influenced the market and prices, such as a moderate demand from the winter tire industry due to the progressing winter season. Additionally, the overall declining industrial activities called for shorter sizes of inventories, resulting in higher prices. Despite the marginal increase in prices, the Netherlands saw a substantial decline compared to the same quarter the previous year.

This analysis can be extended to include detailed stearic acid price information for a comprehensive list of countries.

North America Stearic Acid Price

The North American market witnessed a slight drop in price during the fourth quarter of 2023 due to a bearish trend, high supply levels owing to inexpensive imports from Malaysia, and increased production costs in the country. Additionally, the festive season heightened the demand from the automotive industry, but uncertainty arose due to economic conditions and electric vehicle (EVs) sales growth. Besides this, nearshoring activities in Mexico also impacted the market.

Specific stearic acid historical data within the United States and Canada can also be provided.

Middle East and Africa Stearic Acid Price

The report explores the stearic acid pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on stearic acid prices for countries can also be provided.

Asia Pacific Stearic Acid Price

The Asia Pacific (APAC) region witnessed a stable market situation throughout the 4th quarter of 2023. The stable supply from exporting countries like Indonesia and Malaysia contributed to the overall market situation. Despite a depreciation in palm oil prices, demand remained high, particularly from the winter tire sector in the West. Besides this, South Korea's currency appreciation further impacted the market pricing.

This stearic acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Stearic Acid Price

During the fourth quarter of 2023, in Latin America, low inventories from Indonesia and Malaysia drove the initial prices, but the construction and automobile industries had less demand. Nonetheless, by the end of 2023, demand had grown as a result of better Brazilian buildings and favorable investor attitudes. In addition to this, the rising freight costs made trading cautious, further influencing the market prices.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of stearic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting stearic acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The stearic acid price charts ensure our clients remain at the forefront of the industry.