The global Magnesium Stearate market size is forecasted to reach USD 800.4 million by 2028 at a CAGR of 5.8% during the forecast period. Increasing demand for cosmetic products in the Asia Pacific region along with high demand for magnesium stearate in baby products and pharmaceuticals is expected to drive this demand.

Global Magnesium Stearate Market
Global Magnesium Stearate Market

Magnesium stearate is an inorganic chemical compound. Its molecular formula is Mg(C18H35O2)2. Magnesium stearate is formed by the reaction of sodium stearate with magnesium salts or by reacting magnesium oxide with stearic acid. It is a type of soap white in color and insoluble in water, hence it is used in chemical reactions for a number of applications. It is utilized as a release agent as well as a lubricant in the manufacturing of cosmetics & pharmaceuticals. Low toxicity is one of the key factors influencing its high demand in these applications over other stearates.

Global Magnesium Stearate Market
Global Magnesium Stearate Market

Magnesium stearate is extensively utilized in the personal care industry as a texturizer, opacifier, non-gelling thickener, film-forming, anti-caking, and lubricating agent. Dwindling usage of magnesium stearate as a constituent in tablets, capsules, and other drugs is likely to stoke the growth of the market. Increasing health consciousness among the population combined with a spike in disposable incomes in countries such as China and India is of the major factors promoting the growth of the market. Conversely, demand for the product has been hindered by increasing prices of raw materials such as stearic acid.

The global framework regarding the manufacturing of magnesium stearate is spearheaded by varying regulatory bodies including the Occupational Safety and Health Administration (OSHA) and Toxic Substance Control Act (TSCA). The framework emphasizes the chemical and physical dangers of raw materials involved in magnesium stearate manufacturing and outlines general requirements for the storage and use of these raw materials. Restrictions on the use of the product have forced manufacturers in the market to cogent. It is also used in numerous personal care products including color cosmetics, creams, lotions, ointments, and cream shampoos. The number of retail & distribution chains and online platforms aids the easy availability of personal care items, thereby fueling the demand for the product.

Asia Pacific is expected to emerge as the most promising market for magnesium stearate over the forecast period. The demand for the product in the region is driven by the pharmaceutical, food & beverage, and cosmetic industries, with major demand coming from countries such as China and India. The booming pharmaceutical industry, due to spiking demand for generic drugs, is bolstering the demand for magnesium stearate market.

Key Factors Impacting Market Growth:

  • Low toxicity in comparison to another stearate
  • High demand for baby care and cosmetic products
  • The growing emphasis on quality of life & personal hygiene
  • Growing urbanization and increased activities of building & construction 

Key Developments: 

  • In 2017, Peter Greven Inc. acquired Norac Additives LLC an additives division of US company Norac Inc. Therefore, the production site in Helena, Arkansas as well as the office and development laboratory in Pomona, California is now a part of Peter Greven Group.
  • In 2016, Valtris Specialty Chemical acquired Akcros Chemicals, a provider of specialty chemicals used as additives in the production and processing of polymers, paint, and coatings with operations in both Europe and North America.

What Does This Report Provide?

This report provides a detailed understanding of the Global Magnesium Stearate market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Type:

  • Pharmaceutical Grade Magnesium Stearate
  • Food Grade Magnesium Stearate
  • Cosmetics Grade Magnesium Stearate

By Application:

  • Lubricants
  • Binders & Fillers
  • Sanitizers
  • Cosmetics
  • Paints

By End-Use Industry:

  • Plastics Industry
  • Personal Care Industry
  • Food & Beverages Industry
  • Pharmaceutical Industry

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By Application
    • By End-Use Industry
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By Application
    • By End-Use Industry
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By Application
    • By End-Use Industry
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By Application
    • By End-Use Industry
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Type
    • By Application
    • By Application
    • By End-Use Industry
  • Rest of the World
    • By Region (South America, Africa)
    • By Type
    • By Application
    • By End-Use Industry

Companies Covered: Kirsch Pharma GmbH, PT Halim Sakti Pratama, Parchem Fine & Specialty Chemicals, Nimbasia, Baerlocher GmbH, Valtris Specialty Chemicals, and FACI SPA,Struktol, Peter Greven, Nimbasia, Elite Chemicals, Sinwon Chemical, CHNV New Material, Sifeng Biochem, Dainichi Chemical, Sakai Chemical, Linghu Xinwang Chemical, All-Chemie, Haviland Enterprises, Connect Chemicals, Hydrite Chemical, Mallinckrodt, Pratham Udyog Group, Amishi Drugs & Chemicals

Reasons To Buy This Report:

  • Market size estimation of the global Magnesium Stearate market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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