Stearyl Alcohol Market Size, Share and Trends 2024 to 2034

Stearyl Alcohol Market Size and Forecast 2024 to 2034

The global stearyl alcohol market size is projected to be worth around USD 9.71 billion by 2034 from USD 6.68 billion in 2024, at a CAGR of 3.82% from 2024 to 2034. The growing developments in the pharmaceutical industry around the world has driven the growth of stearyl alcohol market.

Stearyl Alcohol Market Key Takeaways

• Asia Pacific led the stearyl alcohol market with the highest share in 2023.
• North America is expected to grow with a significant CAGR during the forecast period.
• By form, the granules segment dominated the market in 2023.
• By form, the flakes segment is anticipated to grow with the fastest growth rate during the forecast period.
• By application, the emulsion stabilizer segment held a dominant share of the market in 2023.
• By application, the fragrance ingredient segment is likely to grow with the highest CAGR during the forecast period.
• By end-user, the cosmetics and personal care segment dominated the stearyl alcohol market in 2023.
• By end-user, the pharmaceutical segment is expected to grow with the highest CAGR during the forecast period.

Market Overview

The stearyl alcohol market is one of the most important industries in the chemical domain. This industry deals in manufacturing and distributing stearyl alcohol across the world.  The stearyl alcohols are also known as cetostearyl alcohol and octadecanol. This industry is driven by the growing demand for foam boosters in the pharmaceutical market. There are various forms of stearyl alcohol that mainly consist of flakes and granules. The applications of stearyl alcohol include emulsion stabilizer, fragrance ingredient, emulsifying agent, foam booster, viscosity modifier, and emollient. These alcohols are used in various end-user industries of cosmetics and personal care, pharmaceuticals, food & beverages, and some others.

According to data published by the National Bureau of Statistics and the China Alcoholic Drinks Association, in 2023, the total sales revenue of liquor enterprises above designated size nationwide reached 232.8 billion yuan, which is an increase of around 7.5% from the previous year.

Stearyl Alcohol Market Growth Factors

• The rising application of stearyl alcohol in haircare products.
• Increasing usage of octadecanol in the food & beverage industry across the world.
• Stearyl alcohol is used as an ingredient in manufacturing hand sanitizers.
• Growing technological advancements in the chemical industries.
• The developments in the pharmaceutical sector have increased the demand for stearyl alcohol.
• Swimming pools use stearyl alcohol as a sun barrier agent.
• Several advantages of stearyl alcohol include low toxicity, high evaporation rate, enhanced saturation, and some others.
• The increasing demand for oil-structuring agents.
• The application of stearyl alcohol in fabricating Solid lipid nanoparticles (SLNs).
• Stearyl alcohol finds application in stabilizing the viscosity during the manufacturing of lotions.
• The ongoing research and development activities related to stearyl alcohol.
• Government initiatives associated with the development of the chemical industry around the world.

What is the role of AI in the Stearyl Alcohol Market?

The advancement in AI technology is crucial for the development of numerous industries that exist currently. Most of the stearyl alcohol companies have started integrating AI in their laboratories and manufacturing plants to improve the quality of products along with enhancing the efficiency of workers. Also, the integration of AI in this industry can help in advanced research, molecular modeling, quality testing, demand forecasting, and others.

• In October 2023, Sumitomo launched ChatSCC. ChatSCC is a generative AI service that is designed to perform various operations in chemical industries.

Top 10 Cosmetics Brands

• Estée Lauder
• L'Oréal Paris
• Maybelline
• Coty
• Dior
• Clinique
• Unilever
• Beiersdorf
• Chanel
• Kao

Market Scope

Market Dynamics

Driver

Growing demand for automotive lubricants

The automotive trend is rapidly increasing around the world. With the rising development in the automotive industry, the demand for cars has increased due to several reasons, such as urbanization, status maintenance, rising disposable income, consumer preferences, long trips, and others. Due to the growing sales and production of vehicles around the world, the demand for automotive lubricants will also increase rapidly as lubricants are used in engine components for reducing friction, cooling, corrosion prevention, and others. These lubricants require stearyl alcohol as an important ingredient.

• In May 2023, Lumax Auto Tech launched a new series of coolants and lubricants. These lubricants are composed of stearyl alcohol as ingredients and find various applications in the automotive industry.

Restraint

Regulatory concerns and volatility in raw material prices

The stearyl alcohol industry encounters various problems in everyday operations. There are several governmental regulations that forbid the use of stearyl alcohol in the cosmetics industry for manufacturing creams and lotions. Also, the fluctuations in the prices of raw materials of stearyl alcohol, such as palm oil and coconut oil, have created havoc among the market players. Thus, the strict government regulations, along with volatility in prices of raw materials, are expected to restrain the growth of the stearyl alcohol market during the forecast period.

Opportunity

Advancement in solvent injection technology

The stearyl alcohol industry has experienced several developments due to advancements in modern technologies. The rapid advancements in solvent injection techniques due to continuous research and development have gained traction in recent times. Solvent injection technology involves methanol or acetone as a solvent for dissolving lipid phases to derive high-quality stearyl alcohol. Thus, advancements in solvent injection techniques are expected to create ample growth opportunities for the stearyl alcohol market players in the years to come.

• In June 2022, Shimadzu launched Nexera XS inert. Nexera XS inert is a UHPLC system that comes with advanced solvent injection technology for extracting different types of chemicals.

Form Insights

The granules segment held the dominant share of the stearyl alcohol market in 2023. The growing use of stearyl alcohol granules in manufacturing industrial lubricants has boosted market growth. Also, the rising application of octadecanol granules as a non-ionic surfactant in manufacturing plastics, candles, textiles, and other products has positively impacted market growth. Moreover, the demand for stearyl alcohol granules has increased as a chemical intermediate to increase the cleaning capacity of cleaners and detergents.

The flakes segment is expected to grow with the highest CAGR during the forecast period. The rising use of stearyl alcohol flakes in manufacturing perfumes has propelled the stearyl alcohol market growth. Also, the increasing application of flakes in the cosmetic industry to produce personal care products is driving the industry in a positive way. Moreover, the growing demand for flakes from the resin manufacturing industry due to its stability and miscibility has contributed significantly to industrial growth. Furthermore, the market growth is associated with the upsurge in demand for flakes in the shampoo manufacturing sector, along with its application in the food and beverage industry as an additive.

Application Insights

The emulsion stabilizer segment dominated the stearyl alcohol market in 2023. The rising application of emulsion stabilizers in the pharmaceutical and lubricant industry has boosted market growth. Also, the growing usage of emulsion stabilizers in cream and lotion manufacturing to improve appearance and texture has contributed significantly to market growth. Moreover, the increasing demand for emulsion stabilizers in the food and beverage industry as a preservative has accelerated the market growth. Furthermore, there is an upsurge in demand for emulsion stabilizers in the pharmaceutical sector to stabilize various formulated drugs.

The fragrance ingredient segment is expected to grow with the highest CAGR during the forecast period. The rising demand for long-lasting deodorants among people has increased the demand for stearyl alcohol. Also, the viscosity-controlling ability and chemical stability of stearyl alcohol are integral for manufacturing different varieties of fragrances. Moreover, stearyl alcohol is of a non-irritating and moderate nature that can be used in fragrances to suit sensitive skin, propelling the stearyl alcohol market growth. Furthermore, the market is growing due to the diffusion capabilities, along with aroma enhancement and longevity of stearyl alcohol.

End-User Insights 

The cosmetics and personal care segment held the dominant share of the stearyl alcohol market in 2023. The growing development in the personal care and cosmetics industry has driven the market growth. Also, the rising application of stearyl alcohol for manufacturing lotions and creams due to its emulsifying ability is likely to boost the industry in a positive way. Moreover, stearyl alcohol is used as an opacifier and moisturizing agent in the cosmetic industry, which is expected to foster industrial growth. Additionally, the growing usage of stearyl alcohol in hair treatment therapies due to its nourishing capabilities has increased its demand in the personal care industry.

• In July 2022, Avya Skincare launched the Daily Detox Clay Mask. This skincare product consists of several ingredients such as stearyl alcohol, Cetearyl alcohol, colloidal sulfur, glycerin, camphor, ceteareth-20, polysorbate 60, salicylic acid, bentonite clay, myristyl alcohol, phenoxyethanol, and others.

The pharmaceutical segment is expected to grow at a notable rate during the forecast period. The rise in the number of pharmaceutical brands has increased the demand for stearyl alcohol, thereby driving the stearyl alcohol market growth. Also, the rising application of stearyl alcohol in manufacturing tablets, capsules, topical medicines and some others has propelled the market growth.

Moreover, the increasing demand for stearyl alcohol in the pharmaceutical industry due to its adaptability, stability, and inertness for enhancing the drug delivery systems along with maintaining medicinal dosages has contributed positively to industrial growth. Furthermore, the use of stearyl alcohol as a reference standard, along with the rising government initiatives to develop the pharmaceutical industry across the world, is beneficial.

Regional Insights

Asia Pacific held the largest share of the stearyl alcohol market in 2023. The rising development in the pharmaceutical industry in countries such as India, Japan, Israel, China, South Korea, Taiwan, and others has increased the demand for stearyl alcohol. Also, the chemical industry in this region is supported by several government initiatives, which in turn boosts the market growth. Asia-Pacific region has a well-established cosmetics industry with several industrial giants such as Kao Corporation, AMOREPACIFIC, Kose, Lotus Herbals, Lakme, VLCC, Lifevision Cosmetics, Emami, Sugar Cosmetics, and some others that have increased the demand for stearyl alcohol to manufacture different variety of products. This region comprises several local companies of stearyl alcohol, such as Kao Corporation, Triveni Chemicals, VVF Ltd, KLK Oleo, and some others, which are constantly manufacturing high-grade stearyl alcohol for various end-users in the Asia Pacific region.

• In April 2023, KLK OLEO announced the acquisition of Temix Oleo. This acquisition is aimed at manufacturing various specialty chemicals, including stearyl alcohol.
• In January 2023, the South Korean government announced the launch of an initiative named ‘The Chemical Industry Forum.’ This initiative was launched to develop the landscape of the chemical industry across the country.

North America is anticipated to grow at a significant growth rate during the forecast period. This region consists of a well-established automotive industry with numerous companies such as Tesla, Ford, GM, Chevrolet, and others that have increased the demand for a variety of automotive lubricants, which in turn increases the demand for stearyl alcohol. The food and beverage industry in Canada and the U.S. is highly developed with the presence of various market players such as Tyson Foods, the Coca-Cola Company, General Mills, AB InBev, Diageo, Andrew Peller Ltd, Mark Anthony Group Inc, the Wine Group, Jackson Family Wines and some others has increased the applications of stearyl alcohol for various uses.

• In June 2024, Lucas Oil announced the inauguration of a new automotive lubricant facility in Indiana. This new 400,000-square-foot manufacturing plant is opened to address the demand for greases and other automotive lubricants in the U.S.

North America consists of various market players of stearyl Alcohol such as Acme Hardesty, Hallstar Beauty, Thomasnet, P&G Chemicals, and some others that are constantly engaged in manufacturing superior quality stearyl alcohol for numerous end-users. Also, these market giants are adopting several strategies such as partnerships, acquisitions, collaborations, launches and business expansions.

• In July 2022, Procter & Gamble announced to invest around US$110 million. This investment is made to build a consumer products manufacturing factory in Greensboro, North Carolina, with a size of 80,000 square feet.

Stearyl Alcohol Market Companies

• Sinarmas Cepsa Pte. Ltd.
• Berg + Schmidt
• Merck KGaA
• Biesterfeld AG
• P&G Chemicals
• Triveni Chemicals
• VVF Ltd.
• Kao Corporation
• BASF SE
• KLK Oleo

Recent Developments

• In December 2023, Pantene launched Pro-V Miracles Infinite Lengths Biotin + Collagen 1 Minute Miracle Conditioner. This conditioner is manufactured using various ingredients consisting of glycerin, stearyl alcohol, biotin and some others.
• In July 2023, Vedaoils launched a new range of cosmetic products. This cosmetic range offers haircare and skincare products that are composed of stearyl alcohol mixtures.

Segments Covered in the Report

By Form

• Granules
• Flakes

By Application

• Emulsion Stabilizer
• Fragrance Ingredient
• Emulsifying Agent
• Foam Booster
• Viscosity Modifier
• Emollient

By End-User

• Cosmetics and Personal Care
• Pharmaceuticals
• Food and Beverages

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa