Zinc Stearate Industry Overview:
Zinc Stearate is a chemical substance that has a white, fluffy, powdered appearance, and is formed from a combination of Stearic acid and zinc oxide. It is a water repellant solid usually known as zinc salt, which has numerous industrial applications. Zinc Stearate (GFRP) Market 2019: List of Top Manufacturers, Traders and distributors, Potential investors, Raw material suppliers, Trends and Forecast 2023. Zinc stearate exhibit sharp melting point, which makes it highly usable in industrial application as compared to other stearates. Other than that, zinc stearates possess a range of property such as lubricating properties, separating properties, water repellence, gelling capacity, stabilizing effect, foam inhibition, acid scavenger, and melting point. Its use as a releasing agent is considered as the most essential property, which is led to its higher adoption in industrial manufacturing.
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Over the last seven years, addressable growth has been noted in the global zinc stearate market and is anticipated to witness a prolific growth in the coming years. Some of the key factors driving the growth of this market are growing demand from countries such as China and India, its use as a color enhancer in plastic enhancer, diverse range of applications in cosmetic, and dynamic rubber production. Growing industrial output in emerging economic such as India and China anticipated to provide fuel for the growth of this market, as the zinc stearate is used in the range of niche industrial applications.
Market Segmentation:
The 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.
Furthermore, based on end-use industries, the 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.
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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.
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)
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