Hydroxystearic Acid Market Revenue, Gross and Share Analysis Report Forecast till 2031

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Hydroxystearic Acid Market Introduction

• Hydroxystearic acid, also known as 12-hydroxy stearic acid or 12-HSA, is a fatty acid surfactant, emollient, and thickener. Hydroxystearic acid is found in a wide range of personal care and cosmetics items, including skin creams, hair treatment products, and deodorants
• Hydroxystearic acid, which is structurally similar to stearic acid, is wholly vegetable-based and generated from naturally occurring fats and oils, the most common of which is castor oil. 12-HSA is made by oxidizing 2-hexylcyclododecanone in methylene chloride with a combination of permaleic and peracetic acids. The lactone of hydroxystearic acid is formed, and the lactone is alkaline hydrolyzed to create 12-HSA.

Key Drivers of Hydroxystearic Acid Market

• Rise in demand for hydroxystearic acid in the cosmetic industry due to its chemical functionality is a significant factor projected to fuel the global hydroxystearic acid market during the forecast period. These acids are in high demand in a variety of applications such as lotions, creams, gels, make-up and decorative cosmetics, and other products. Rise in usage of SPF enhancement, sun care, self-tanning and after-tanning products, and underarm deodorants is another aspect that is predicted to drive the market during the forecast period. Furthermore, changing lifestyles and fashion trends, as well as people’s proclivity for self-grooming, are likely to drive the hydroxystearic acid market throughout the forecast period.
• Hydroxystearic acid works as an activator, accelerator, and internal lubricant for synthetic and natural rubber. This property makes 12-HSA an ideal choice for the rubber production industry. Increase in demand for automobiles due to the growing population has boosted tire production. Increase in demand for automobile tires for new vehicles and the replacement of old tires is a vital factor driving the rubber market. In turn, this is expected to boost the hydroxystearic acid market during the forecast period.

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Restraints of Hydroxystearic Acid Market

• Dearth of universal directives pertaining to applications of hydroxystearic acid is expected to restrain the market during the forecast period. Fluctuation in raw material prices, regulations on volatile organic compound emissions due to rubber manufacturing, and availability of substitutes are also expected to challenge the market growth in the near future.

COVID-19 impact on Hydroxystearic Acid Market

• COVID-19 outbreak is hampering the demand for hydroxystearic acid in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the coronavirus. This has resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for hydroxystearic acid.
• Key players operating in the hydroxystearic acid market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively influenced the demand and supply chain of hydroxystearic acid.
• The COVID-19 outbreak has directly affected the production and demand for hydroxystearic acid. Industrial shutdown caused by the COVID-19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.

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Asia Pacific to Constitute Significant Share of Global Hydroxystearic Acid Market

• In terms of region, the global hydroxystearic acid market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Asia pacific dominated the global market in 2020. Asia pacific is the largest market for hydroxystearic acid due to the significant rise in demand for male and female grooming products in the cosmetic industry in the region. Rise in consumption of hydroxystearic acid in the production of rubber is also boosting the hydroxystearic acid market in the region.
• North America and Europe are also key consumers of hydroxystearic acid. The market in North America and Europe is anticipated to expand at a moderate pace in the near future.