Market: Introduction
Potassium stearate belongs from the stearate family and is also known as a potassium salt of stearic acid. The molecular formula of potassium stearate is C18H35KO2. Potassium stearate is also known as potassium octadecanoate and octadecanoic acid. Potassium stearate is a white to off-white powder which remains stable under room temperature and is sparingly soluble in water. Potassium stearate is approved for use as an additive in personal care and food products by independent regulators such as the Cosmetic Ingredient Review (CIR), as well as government agencies such as the U.S. Food & Drug Administration (FDA).
Potassium stearate is extensively used as an emulsifier in food and beverage industry for its property of repelling polar entities in the solution. It acts as an effective stabilizer and plasticizer which is extensively used in the plastic industry and cosmetics industry. Also potassium stearate finds application in paints, coatings & ink industry as flatting agent due to its corrosion resistive properties. Additionally, potassium stearate is used as a drying agent as well as a dusting agent in the rubber industry and emulsion in polymerization of synthetic rubber. Potassium stearate is used in the formulation of cosmetic industry and personal care products furthermore potassium stearate is used in products such as lipsticks, face powders, foundation and fragrances and deodorants due to their excellent lubricating properties. In some candle manufacturing processes, potassium stearate is used to modify the melting point of the waxes.
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Market: Dynamics
Potassium Stearate Market: Driver
Nowadays, the cosmetic industry has witnessed significant demand growth for personal care products owing to increased modernization especially from emerging economies. In addition, the young population have started paying more attention towards a standard life which includes skin care, personal care and among others. This is expected to boost the demand for the global potassium stearate market during the forecast period.
The significant growth in population would continue to generate huge demand for food products. In broader perspective, shift in day-to-day activities, lifestyle patterns, eating habits, etc. remain key factors leading to increase in demand for potassium stearate market by end of forecast period.
Potassium Stearate Market: Restraints
Potassium stearate is an expensive choice for manufacturers which is gradually shifting the preference towards sodium stearate salts as they offer almost similar properties and are economically feasible for end-use product manufacturing.
The raw materials involved in the production of potassium stearate are not available easily which is expected to decelerate the market. End users find it difficult to prepare concentrated solution of potassium stearate products owing to its marginal solubility in water, multiple end users are opting for an alternative stearate salt for making cosmetics & personal care products which may affect the potassium stearate market.
Market: Segmentation
The Global Potassium Stearate Market can be segmented on the basis of grade as mentioned below:
- Superior Grade
- First Grade
- Qualified Grade
The Global Potassium Stearate Market can be segmented on the basis of application as mentioned below
- Emulsifying Agent
- Surfactants
- Thickeners
- Stabilizers
The Global Potassium Stearate Market can be segmented on the basis of end-use as mentioned below
- Food & Beverage
- Plastics
- Cosmetics & Personal Care
- Detergents & Soaps
- Others
Global Potassium Stearate Market: Regional Outlook
South Asia and East Asia have witnessed an increase in demand for personal care products including beauty and personal hygiene products owing to increasing disposable income in emerging economies in countries such as South Korea, China, and India among others, which is expected to drive the market over the coming period.
Countries such as Germany, Spain, Italy, U.S. and U.K among others have significantly higher disposable income which implies the increasing consumption of food & beverage and personal care products over the recent years as well as in the coming years. Furthermore, in Latin America and Middle East & Africa, especially in Brazil, KSA, UAE, Turkey, Mexico and Argentina are expected to witness a steady growth in the potassium stearate market over the coming years.
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Market: Key participants
The key participants of Potassium Stearate market are as follows:
- Viva Corporation
- Balasore Chemicals
- Sun Ace
- Hongyuan Chemical
- PMC Crystal
- Linghu Xinwang Chemical
- Qinglong Poryacylate Rubber
- Chengjiakang Chemical
- Zhenghao New Material
- Viva Corporation
- and Luchuan Chemical among others
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