Zinc Stearate Market is forecast to reach $1.2 billion by 2026, after growing at a CAGR of 3.6% during 2021-2026. With rise in plastic industry, the zinc stearate market is witnessing an increase in demand, as they are used as a lubricant and release or powdering agent. Whereas COVID-19 pandemic will create hurdles and affect the overall market demand for zinc stearate during the forecast period, as the manufacturing facilities were totally shutdown during the imposed lockdown.
Zinc Stearate Market Segment Analysis – By Application
Lubricants has been the primary market for zinc stearate. Zinc stearate is used as a lubricant, thickener, and to hold together the liquid and oily elements in cosmetics. Zinc stearate is mixed as a lubricant additive together with the metal powder. The proportion of lubricants varies from 0.5% to 5.0% by weight. In the compacting phase in the press, the lubricants improve flow and compressibility characteristics; the binders have the opposite effect. The different amount of the two additives influences the porosity and final properties of the material. Zinc stearate has an advantage over other lubricants as it provides zinc for the alloy which is beneficial in certain processes.
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Zinc Stearate Market Segment Analysis – By End-Use Industry
Paints and Coating holds the largest share of more than 25% in zinc stearate market. In its finest form, zinc stearate has transparent properties and is used in the manufacture of varnishes and paints. It provides great dispersal ability and acts as a sealer for imperfections on the surface and as a thickener. In addition, it protects the paint from moisture due to its water-repelling properties. Zinc stearate for Coating and Paint provides advantages such as low fatty acid, high purity, good transparency, super-fineness, dispersing, and more. Zinc stearate for Coating and Paint is widely applied in furniture coating, upscale ink, automotive coating, marine coating, powder coating, plastics, polymer resin, fiber rubber, paper, cosmetics, powder metallurgy, and cement product industries.
Zinc Stearate Market Segment Analysis – By Geography
APAC dominated the zinc stearate market with a share of more than 38%, owing to growing industries such as paints, coatings, and rubber along with increasing number of consumers. Increasing construction activities from emerging countries and growing demand from the automotive sector are expected to drive the demand for the market during the forecast period. Government polices like in India, Pradhan Mantri Awas Yojana (this policy intends to provide housing for all in urban areas by year 2022) will boost the construction output in India which resulted in increased demand of associated products. Further, presence of major growing economies such as China and India also contribute in the growth of overall market.
Zinc Stearate Market Drivers
Growing demand in cosmetics
It usually appears in make-up formulations such as eyeliner, eye shadows, facemasks, lipsticks, face powders and foundation creams. Zinc stearate does not cake; it flows very well and adds a silky touch to the mix. Zinc stearate is probably the most commonly used binding agent in powder makeup products. It gives very good adherence qualities meaning it helps powders to stick together in the pan and to stick to the skin on application. It is typically used at 3-10%, too much of it though can cause lumpiness or greasiness on the skin. India’s cosmetics market is expected to grow by more than 20% in the coming years which would create an opportunity for zinc stearate to grow.
Positive Impacts of COVID-19
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. But as it is also used in cosmetics which comes under the essential goods category, and the extending lockdowns the demand for cosmetic products will increase and hence this will increase the market growth for zinc stearate.
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Zinc Stearate Market Challenges
the cosmetics industry considers zinc stearate a low to moderate hazard ingredient depending on usage. It lists concerns regarding cancer, allergies, immunotoxicity, organ system toxicity, based on high levels of this ingredient given to animals or in vitro studies. According to OSHA (Occupational Safety and Health Administration), Zinc stearate is a human irritant, but “has low acute toxicity in experimental animals. Pure zinc stearate was nonirritating to rabbit skin. Zinc stearates are practically nontoxic to rats on acute ingestion.
Zinc Stearate Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Zinc stearate market. In 2020, the market of Zinc stearate has been consolidated by the top five players accounting for xx% of the share. Major players in the Zinc stearate Market are Shaoyang Tiantang Additives Chemical Co., Ltd, Jingjiang Concord Plastics Technology Co., Ltd., Zhejiang Shengzhou Wanshida Chemical Co., Ltd., Jingjiang Victory Plastics Material Factory, Jiangxi Hongyuan Chemical & Industrial Co., Ltd. Dover Chemical Corporation, Faci S.p.A., Baerlocher GmbH, among others.
In September 2020, Dover has completed the acquisition of XanTec Steuerungs- und EDV-Technik GmbH (“XanTec”), a developer and supplier of automation and control solutions for industrial machinery of all types with particular focus on plastic and polymer processing machines across the globe.
Asia-Pacific dominates the zinc stearate market owing to increasing demand from applications such as additives, lubricants and others.
The growing popularity of lubricants in plastic industry, is likely to aid in the market growth of zinc stearate.
Related Reports :
A. Zinc Chemicals Market
B. Calcium Stearate Market
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