Magnesium Stearate Market Size Is Predicted To Reach $652.7 Million By 2025

The global magnesium stearate market size is projected to reach USD 652.7 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.4% during the forecast period. Surging demand for the product in the pharmaceutical industry is one of the key growth stimulants for the market during the forecast period.

Consumption of the product in the pharmaceutical industry is sparked by an increasing demand for inactive ingredients in drug formulations. It finds extensive usage in the pharmaceutical industry as a lubricant and as binders & fillers. Another factor boosting the demand for the product is rapidly increasing application of magnesium stearate in personal care products. In the personal care industry, the product finds application as a texturizer, non-gelling thickener, and lubricant, among others. Increasing number of online platforms along with distribution channels is fueling the demand for personal care products, thereby spurring the demand for magnesium stearate.

The global magnesium stearate market size is expected to grow continuously in the near future facilitated by increase in use of product for the clinical and pharmaceutical industry. In addition, magnesium stearate is extensively used as a drug formulation, lubricant, and a binder in the pharmaceutical sector. Moreover, personal care and beauty products are loaded with magnesium stearate as a raw ingredient

Asia Pacific nations such as India, Japan, and China have witnessed a huge demand owing to abundance of raw materials followed by low labor cost and with a greater emphasis on establishing their manufacturing plants in these markets. Additionally, these markets are also experiencing a spike in plastic production. The rise in number of online platforms is thereby supplementing the growth of personal care products

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Further key findings from the report suggest:

• In terms of volume, the demand in pharmaceuticals application segment is anticipated to reach 146.93 kilotons by 2025, at a CAGR of 5.6% from 2017 to 2025
• In terms of revenue, the personal care segment is expected to witness the fastest growth over the forecast period, owing to rising need for enhanced flowability of constituents in products.
• Asia Pacific held the largest share of the magnesium stearate market in 2017. It is expected to register substantial growth over the forecast period. Rising disposable income coupled with increasing number of manufacturers in the region is expected to augment the market
• In terms of volume, the China magnesium stearatemarket is anticipated to exceed 69 kilotons by 2025, owing to substantial demand for the product from the pharmaceutical and personal care industries. In addition, favorable FDA policies are encouraging global players to strengthen their presence in the country through significant investments
• The magnesium stearate market is highly competitive with the presence of various well-established players with extensive product portfolios
• Some of the key companies operating in the market are Kirsch Pharma GmbH, PT Halim Sakti Pratama, Parchem Fine & Specialty Chemicals, Nimbasia, Baerlocher GmbH, Valtris Specialty Chemicals, and FACI SPA.

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Grand View Research has segmented the global magnesium stearate market on the basis of application and region.

Magnesium Stearate Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Pharmaceuticals
• Lubricants
• Binders & fillers
• Personal care
• Food & Beverages
• Others

Magnesium Stearate Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• North America
• U.S
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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