Stearic is a saturated stearic acid and the salts and esters of stearic acid is known as stearates. Stearates is segmented on the basis of type which includes aluminum monostearate, zinc stearate, calcium stearate, sodium stearate and magnesium stearate. Magnesium stearate is a mixture of pure palmitic acid and stearic acid, in which minimum percentage of stearic acid should not be less than 40.0% and the sum of both of these two acid should not be less than 90.0%. Magnesium stearate also contains MgO which is not less than 6.8% and not more than 8.3%. Naturally magnesium stearate occurs as a fatty acid, however it can be isolated from plant and animal oil. Increased usage of magnesium stearate in pharmaceutical and personal care products is expected to drive its growth over the forecast period.
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Magnesium Stearate Market Segmentation
Global magnesium stearate market is segmented on the basis of application which includes food additive, powder & tablet lubricant, binders & fillers. Among all these segment powder and tablet lubricant is expected to occupy the major market share in terms of revenue over the forecast period. Increased usage of magnesium stearate as a powder & tablet lubricant in pharmaceutical industry is expected to fuel the powder & tablet lubricant segment growth in magnesium stearate market during the forecast period. Furthermore, food additive segment is expected to show a substantial growth in the near future. Increased demand of food products containing health claims is expected to support the demand of food additive segment.
Furthermore, global magnesium stearate market is segmented on the basis of end use, which includes plastic industry, personal care industry, food industry, paint industry and pharmaceutical industry. Among all these segment pharmaceutical industry segment is expected to account for major market share in terms of revenue. The growth of this segment in magnesium stearate market is attributed to increased consumption of nutraceutical products across the globe. Moreover, personal care segment is expected to show a substantial growth in the near future.
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Globally, Asia pacific has been dominating the magnesium stearate market in terms value and expected to be remain dominant over the forecast period. Increasing demand of magnesium stearate in plastic processing and pharmaceutical product is expected to fuel the growth of the market across the region. In the region China is expected to be major contributor in terms revenue share. In addition Western Europe is expected to show a substantial growth over the forecast period. Increasing usage of magnesium stearate during the formulation of nutraceutical products especially dietary supplements is expected to support the growth of the market across the region. Moreover, North America is expected to show opportunities for market growth especially due to increased consumption of food containing health claims and dietary supplements. The U.S. is expected to account for major share in terms of revenue across the region.
Magnesium Stearate Market Drivers & Restraints
Magnesium stearate is used as a binding agent in paint industry. Moreover, it is primarily used in the pharmaceutical industry due to its lubricant and flowing agent properties especially in the formulation of dietary supplements and tablets which is expected to fuel the market growth over the forecast period. In addition increasing usage of magnesium stearate in personal care industry especially in cosmetics products is further expected to fuel the market growth over the forecast period. However, strict environmental regulations across the globe coupled with volatile price of raw material is expected to restrain market growth during the forecast period.
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Magnesium Stearate Market Key Players
Some of the major players operating in magnesium stearate market includes Nimbasia, Parchem fine & specialty chemicals, Kirsch Pharma GmbH, Bronson & Jacobs, Amik Italia Spa-Chemical Company, PT Halim Sakti Pratama, Aromantic Ltd. among others.
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