Global Isostearic Acid Market is Expected to Grow With 7% CAGR During 2015 – 2020

Date: 2016-03-18

Global isostearic acid market demand was 46.0 kilo tons in 2012. And the global isostearic acid market was valued at $290.7 million in 2014, and it is expected to grow with a CAGR of 7.3% during the period 2015 – 2020. The factors driving the growth of the global isostearic acid market include growing cosmetics products market, and increasing lubricants and greases industry. Based on end-user, the chemical esters segment accounted for largest share in the global isostearic acid market during 2014.

Geographically, the European isostearic acid market accounted for the largest share in the global isostearic acid market during 2014. The isostearic acid market in Europe is growing mainly due to increasing demand from personal care and cosmetic industries. The growing per capita consumption and increasing export of cosmetic products is fueling the demand for isostearic acid in the region. However, in terms of future growth, the Asia-Pacific isostearic acid market is poised to upsurge at a fast pace (CAGR 8.9%), which is led by increasing exports of cosmetic and personal care products from China, Japan, and South Korea. The Asia-Pacific region is providing huge growth opportunities for the isostearic acid market, due to high demand for lubricants and greases. The growing automobile production, along with increasing industrial development is the key catalyzing factor for the up surging demand of lubricants and greases, which in turn is driving the growth of the isostearic acid market in Asia-Pacific.

The growing demand of cosmetic product is driving the growth of the global isostearic acid market. Isostearic acid is used in the manufacture of personal care products, including cosmetics such as lipsticks, lip gloss, and sunscreen creams; and toiletries products such as liquid soaps. The market for beauty products is driven by increasing aging population, and growing disposable income. The leading cosmetic companies such as L’Oreal Group (France), Avon Products Inc. (the U.S.), The Estée Lauder Companies Inc. (the U.S.), and Oriflame Cosmetics (Luxembourg) are continuously introducing new variants, which are increasing the market penetration of the cosmetics industry. It is also expected to provide ample opportunities for the growth of the global isostearic acid market. In the beauty products segment, premium cosmetics are growing at the fastest pace. This in turn, is expected to drive the growth of global isostearic acid market.

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