Zion Market Research has published a new report titled “Sorbitan Monostearate Market for Food, Coating, Cosmetic and Other End Users: India Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, the sorbitan monostearate market in India was valued at over USD 4.50 million in 2016, is expected to reach above USD 6.73 million in 2022 and is anticipated to grow at a CAGR of slightly above 7.0% between 2017 and 2022.
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Sorbitan monostearate is a sorbitol derivative and stearic acid which is sometimes referred to as a synthetic wax. Sorbitan monostearate is also known as ‘Spans’. Sorbitan monostearate is majorly used in cosmetic products such as cold creams, cleansing lotions, makeup foundations, sunscreen products, lipsticks, bath oils etc.
The sorbitan monostearate market is primarily driven by expanding food and cosmetic industry in India. This factor is expected to maintain its pace over the forecast period. High use of sorbitan monostearate as an emulsifier and thickening agent in food and cosmetic industry is expected to boost the sorbitan monostearate market in upcoming years. However, the presence of diverse alternative for the sorbitan monostearate may hamper the growth of the sorbitan monostearate market in coming years. Nonetheless, huge demand for sorbitan monostearate from food and coating industry is expected to offer ample opportunities for sorbitan monostearate market in the foresee period.
Based on end user the sorbitan monostearate market can be segmented into food, coating, cosmetic and another end user. Food industry noted the major chunk of the total market followed by cosmetic industry. High use of sorbitan monostearate as an emulsifier and thickening agent in food and cosmetic industry is expected to boost the sorbitan monostearate market in upcoming years. The others segment includes pesticides, plastics, leather, and healthcare. Sorbitan monostearate is used as a brightener in leather industry and emulsifier in preparation of pesticides. Coating industry is expected to witness noteworthy growth in the forecast period.
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Sorbitan is also used in the production of synthetic fibers and metal machining fluid. Sorbitan monostearate is also utilized as emulsifier and brightening agent in coating and leather industry respectively. Sorbitan finds its various applications in the plastics, food and cosmetics industries.
India accounted for significant market share for sorbitan monostearate in 2016 and is expected to accelerate at the highest pace in coming years. Rapidly escalating food industry along with cosmetic industry in India contributes to the high growth of the market. There has been huge growth in coating industry which is likely to spur the growth of sorbitan monostearate market in India. Moreover, the presence of various players in sorbitan glycerol market is expected to foster the market in India.
World Chem Industries, Estelle Chemicals Pvt.Ltd, Plus Chem, Akhil Healthcare, Jeevika Yugchem Private Limited, Mohini Organics Pvt Ltd, Triveni Interchem Pvt. Ltd, A.B Enterprises, Fine Organics, Krishna International, Shree Chemicals Industries Pvt. Ltd and Savannah Surfactants Ltd among others are some of the major players in the sorbitan monostearate market.
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This report segments the sorbitan monostearate market as follows:
Sorbitan Monostearate Market: End User Analysis