The use of glycol stearate in the production of personal care products, detergents, and other products may prove as a significant growth generator for the glycol stearate market during the forecast period of 2019-2029. Glycol stearate is also used as a pearlizing agent in shampoos and acts as a bodying agent. Therefore, these aspects may also bring good growth prospects for the glycol stearate market. On the basis of end-use, the glycol stearate market is classified into surfactants, emollients, opacifying agents, and emulsifying agents.
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COVID-19 Outbreak to Serve as Growth Multiplier For Glycol Stearate Market
The pandemic has caused substantial harm to the growth of the glycol stearate market but hand wash and sanitizers may bring a ray of hope. The glycol stearate market may expand at a considerable rate due to the rising demand for hand wash and soaps. Various countries have released guidelines to keep coronavirus at bay. Frequent washing of hands with soap and hand wash is one of the most important highlights of the guidelines, leading to a boost in the sale of hand wash and soaps. Glycol stearate is a prime component for producing hand wash and soaps. Therefore, this aspect will eventually benefit the glycol stearate market.
North America to Hold Major Chunk of Market Share across Forecast Period
The glycol stearate market is geographically classified into the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. North America may record significant growth across the forecast period due to the high demand of detergents and cosmetic products. Europe may also garner considerable growth due to factors like rising disposable income and the humungous demand for cosmetic products.
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Key players in the glycol stearate market are VWR, Jeevika Yugchem, Oceanic Pharmachem, Zeal Chemicals, Huzhou Sifeng Biochem, Wellgo Chemical Technology, Solvay, Guangzhou Chuangyue Chemical, Spectrum Chemical Manufacturing Corp., Thurs Organics, and Greenwell Oleochemicals Sdn Bhd