Isostearic Acid Market Size, Share & Trends Analysis Report By Application (Personal Care, Chemical Esters, Lubricants & Greases), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2023 - 2030

Isostearic Acid Market Size, Share & Trends Analysis Report By Application (Personal Care, Chemical Esters, Lubricants & Greases), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2023 - 2030

Isostearic Acid Market Growth & Trends

The global isostearic acid market size is expected to reach USD 491.9 million by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2023 to 2030. Rising demand for personal care products mainly in Asia Pacific and Europe is anticipated to propel the global isostearic acid market. Growing bio-ingredient-based product demand on account of rising consumer awareness regarding the hazardous nature of products derived from petrochemicals is also likely to have a positive impact on growth. The increasing price of isostearic acid due to its limited supply is anticipated to hinder the growth.

Isostearic acid’s odor and oxidation stability make it an ideal ingredient for personal care products. Applications for personal care products include hair care, skin care, liquid soaps, shower & bath products, lip-color cosmetics, and sun protection creams. The isostearic acid ingredient acts as an emulsifier, cleaning agent, or emollient depending upon the personal care product type. Increasing awareness among consumers regarding the benefits of bio-based products coupled with a growing health concern is also anticipated to propel the demand for isostearic acid during the forecast period.

In Europe, Stringent environmental regulations to reduce greenhouse gases (GNG) in the atmosphere are also expected to have a positive influence on growth. Bio-lubricant-based hydraulic oil is extensively used across various end-use applications in Europe followed by bio-based chainsaw oils. Germany dominated the bio-lubricant market over the past few years. The European Commission launched a Lead Market Initiative which is expected to foster the growth of the bio-based products sector by using demand-side innovation policy tools.

The outbreak of COVID-19 had an adverse impact on the growth of the isostearic acid market. The market witnessed a colossal downfall in revenue during the pandemic in the year 2020. Rising cases of COVID-19 led to strict border restrictions, thereby, impacting the supply chain of the chemical industry. The temporary shutdown of manufacturing facilities made it difficult for market players to witness positive revenue growth, as a result, the market witnessed a revenue slump in 2020.

Isostearic Acid Market Report Highlights

• The lubricant and greases application segment witnessed the highest revenue growth rate of 7.3% from 2023 to 2030. The growth is attributable to increasing dependency on renewable materials owing to depleting fossil fuel reserves
• The personal care application segment witnessed the second-highest revenue growth rate of 6.7% from 2023 to 2030. The growth is attributable to the growing demand for personal care products on the account of rising health concerns
• Asia Pacific witnessed the highest revenue growth rate of 7.4% from 2023 to 2030 due to the rising demand for personal care, and lubricant and greases products on the account of rising population and growing industrial activities in the region
• Europe region is expected to witness the second fastest revenue growth rate of 6.7% from 2023 to 2030 on the account of the large presence of manufacturers & end-users in the region and exponential growth in the market
• The market is highly competitive due to the presence of large numbers of market players operating in the global market. Companies such as Croda International, Arizona Chemicals, Oleon NV, Nissan Chemicals, and Emery Oleochemicals are some of the key market participants