Key Findings of the Global Isostearic Acid Market | Technavio

LONDON–(BUSINESS WIRE)–#Chemicals—Technavio
analysts forecast the global
isostearic acid market to grow at a CAGR of almost 8%
during the forecast period, 2018-2022, in their latest market research
report.

A major trend being witnessed in the market is the increased consumption
of cosmetics and daily-use products. Isostearic acid is usually used in
products, which are used for daily purposes such as lipsticks, eye
makeup, foundations, and shaving creams. Additionally, isostearic acid
is used to manufacture bike tires. Plastic bags that are used commonly
and contain animal fat are also produced using isostearic acid. A small
portion of isostearic acid is used in the texture and smell of crayons
that are used for coloring. The use of these products is increasing with
the financial and commercial growth of the global economy. During the
forecast period, the global isostearic acid market will be driven by the
multiple uses and advantages of isostearic acid in cost-effective
daily-use products and cosmetics.

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In this report, Technavio research analysts highlight the growth of the
FMCG sector in APAC as a key factor contributing to the growth of the
global isostearic
acid market:

Growth of the FMCG sector in APAC

Isostearic acid is mainly used in the production of detergents, soaps,
and cosmetics such as shampoos and shaving creams. The increase in the
consumption and demand for these products in APAC has driven the growth
of the isostearic acid market in the region. Additionally, the growth of
the fast-moving consumer goods (FMCG) sector in APAC has proven to be
one of the biggest factors contributing to the growth of the isostearic
acid market in the region. The FMCG sector is expected to witness rapid
growth in countries such as India because of the constant rise in the
economy, rising share of organized retail, and increasing consumer
awareness.

According to a senior analyst at Technavio for specialty
chemicals, ÔÇ£The increased expenditure on personal care
products by consumers to enhance their lifestyles has opened new
opportunities for retailers and manufacturers. This has evidently
increased the sales volume of products manufactured using isostearic
acid. Thus, the growth of the FMCG sector in the region has resulted in
the increase in demand for isostearic acid.ÔÇØ

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Global isostearic acid market segmentation

This market research report segments the global isostearic
acid market into the following applications (personal care,
chemical esters, and lubricants) and key regions (the Americas, APAC,
and EMEA). It provides an in-depth analysis of the prominent factors
influencing the market, including drivers, opportunities, trends, and
industry-specific challenges.

The personal care application segment held the largest market share in
2017, contributing to over 32% of the market. This application segment
is expected to grow steadily over the forecast period.

EMEA led the global isostearic acid market in 2017, accounting for a
market share of more than 40. This region will demonstrate steady growth
and the market share contributed by this region will increase by nearly
1% during the forecast period.

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