USD 510.86 million
Global Magnesium Stearate Market Size, Share, Growth Analysis, By Industry(Pharmaceutical, Personal care), By Application(Pharmaceutical, Personal care) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2281 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
80
Global Magnesium Stearate Market Insights
Global Magnesium Stearate Market size was valued at USD 510.86 million in 2022 and is poised to grow from USD 551.22 million in 2023 to USD 1012.74 million by 2031, growing at a CAGR of 7.9% in the forecast period (2024-2031).
The global magnesium stearate market is a vital segment of the specialty chemicals industry. Magnesium stearate, a white, water-insoluble powder, is widely used as a lubricant, anti-adherent, and gelling agent in various industries, including pharmaceuticals, food, cosmetics, and plastics. In the pharmaceutical sector, magnesium stearate is a common excipient in tablet and capsule formulations. It enhances tablet hardness, aids in the release of tablets from molds, and prevents sticking during production. The increasing demand for pharmaceuticals, driven by factors like a growing aging population and healthcare advancements, has been a significant driver for the magnesium stearate market. The food and cosmetics industries also rely on magnesium stearate as an anti-caking agent and stabilizer in a variety of products, including powdered supplements, spices, and personal care items.
As consumer preferences for convenience and quality in these sectors continue to rise, the demand for magnesium stearate remains steady. Moreover, the plastics and rubber industries utilize magnesium stearate as a mold release agent, ensuring smooth demolding and reduced production cycle times. The expanding automotive and construction sectors, particularly in emerging markets, contribute to the growing demand for plastics and, consequently, magnesium stearate. Environmental concerns and regulations promoting eco-friendly additives have also led to innovations in magnesium stearate production, emphasizing sustainability.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceutical
Fastest Growth
Personal Care
Growth Rate
7.9% CAGR
Global Magnesium Stearate Market ($ Mn)
Country Share for North America Region (%)
Global Magnesium Stearate Market By Type ($ Mn)
Global Magnesium Stearate Market By Type (%)
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Global Magnesium Stearate Market Segmental Analysis
The global magnesium stearate market is segmented on the basis of Industry, Application and region. By Industry, the market is segmented into Pharmaceutical, Personal care, and Food & beverages, Plastic and rubber. By Application, the market is segmented into Pharmaceutical, Personal care, and Food & beverages. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Industry
In the global magnesium stearate market, the pharmaceutical industry stands out as the dominant segment. Magnesium stearate is widely used in pharmaceutical formulations as a lubricant and a flow agent, aiding in the manufacturing process of tablets, capsules, and powders. Its pharmaceutical applications are critical for ensuring the quality and efficiency of drug production. As the pharmaceutical sector continues to grow due to increasing healthcare needs and advancements in drug development, the demand for magnesium stearate is expected to remain strong and dominant in the market.
However, the personal care industry has come forward as the fastest-growing segment in the magnesium stearate market. Several personal care and cosmetics products use magnesium stearate as a texture enhancer and an anti-caking agent. The demand for personal care products is on the rise as consumer awareness about skincare and grooming grows, which is reflected in this segment’s growth. Magnesium stearate is also used as an ingredient in organic and natural cosmetic products, which consumers are increasingly using, thus further contributing to the segment's rapid growth. The demand for magnesium stearate in the personal care industry is likely to keep rising at a faster rate as consumers continue to desire premium and superior quality personal care items.
Analysis By Application
The Pharmaceutical segment is the leading application segment in the global magnesium stearate market. Magnesium stearate is expansively employed in pharmaceuticals as a binder, lubricant, and anti-adherent in the production of capsule and tablet formulations. It is a vital ingredient in the pharmaceutical industry due to its ability to prevent sticking during manufacturing and improve tablet flowability, thus guaranteeing the efficient creation of high-quality medications.
However, the Personal Care segment is the quickest-developing segment in the global Magnesium Stearate market. Personal care products like skincare, cosmetics, and toiletries utilize magnesium stearate as a thickener, an anti-caking agent, and texture enhancer. The demand of magnesium stearate stemming from within this industry has surged with increasing demand for cosmetics and personal care products globally. Safe and natural additives like magnesium stearate are in demand as consumers are made aware of the ingredients in their personal care products.
Global Magnesium Stearate Market By Type, 2023 (%)
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Global Magnesium Stearate Market Regional Insights
The global magnesium stearate market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The dominant region for magnesium stearate production and consumption was North America, particularly the United States, owing to its robust pharmaceutical and food processing industries. The region's well-established pharmaceutical sector and stringent quality standards contributed to the dominance of North America in the magnesium stearate market.
On the other hand, the Asia-Pacific region, especially countries like China and India, was experiencing the fastest growth in the magnesium stearate market. This growth was driven by the expanding pharmaceutical and cosmetics industries in these countries, as well as the increasing demand for dietary supplements. Additionally, the cost-effective production capabilities in Asia-Pacific, coupled with a growing population and rising disposable incomes, led to increased consumption of magnesium stearate in various applications.
Global Magnesium Stearate Market By Region, 2024-2031
- Largest
- Fastest
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Global Magnesium Stearate Market Dynamics
Drivers
Pharmaceutical and Cosmetic Industries Demand:
- The pharmaceutical and cosmetic industries employ the use of magnesium stearate as an anti-adherent, lubricant, and binder. Increased healthcare spending, an aging population, and rising consumer demand for cosmetics and personal care products, has increased demand in these industries, thus fueling the growth of the magnesium stearate market. As these industries grow, so does the demand for magnesium stearate in applications such as topical formulations and tablet manufacturing.
Food Industry Applications:
- The food industry uses magnesium stearate as a food additive, particularly as an emulsifier and an anti-caking agent. The demand for packaged and processed food is growing as the global population rises. In order to enhance shelf stability and improve product quality, the need for food additives like magnesium stearate is growing and as result this contributes to the magnesium stearate market growth.
Restraints
Price Volatility of Raw Materials:
- Magnesium stearate is produced with the use of stearic acid, which is usually obtained from vegetable oils or animal fats. Factors like supply chain disruptions, agricultural conditions, and changes in the geopolitical landscape can lead to volatile prices of these raw materials. This instability in price can have an adverse effect on the overall production cost of magnesium stearate, which negatively impacts market growth.
Regulatory and Safety Concerns:
- Regulatory standards that control the food and pharmaceutical industries can also affect the use of magnesium stearate in these industries. Industry standards are subject to change and regulations can be made stricter to appease worries related to the potential health effects and safety of certain additives. It can be challenging and complicated to maintain regulatory compliance, which can also lead to elevated production cost, stunting the use of magnesium stearate and restraining market growth.
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Global Magnesium Stearate Market Competitive Landscape
A diverse variety of key players in the global magnesium stearate market who are striving to attain and retain market share makes up the market’s competitive landscape. A few well-known names in the market include Struktol, Peter Greven GmbH & Co. KG, Nimbasia, Valtris Specialty Chemicals, Baerlocher GmbH, and Faci Asia Pacific Pte Ltd., among others. Factors like technological innovation, product quality, and cost-efficiency define and dictate the intense competition in the magnesium stearate market. Companies are investing in research and development to enhance the quality and purity of their magnesium stearate products, catering to the evolving needs of industries like pharmaceuticals, food, and cosmetics.
Market players are also focusing on expanding their global footprint through strategic partnerships, acquisitions, and mergers to gain a competitive edge. Additionally, sustainability and environmental concerns are influencing market dynamics, with an increasing emphasis on eco-friendly manufacturing processes and products. As the demand for magnesium stearate continues to rise in various industries, competition among key players is expected to intensify, driving further innovations and improvements in product offerings.
Top Player’s Company Profile
- Baerlocher GmbH (Germany)
- Nimbasia (India)
- Peter Greven GmbH & Co. KG (Germany)
- Faci Asia Pacific Pte Ltd (Singapore)
- Valtris Specialty Chemicals (USA)
- Amishi Drugs & Chemicals Pvt. Ltd. (India)
- Norac Pharma (USA)
- Sinwon Chemical Co., Ltd. (South Korea)
- Sea Lion Technology Inc. (Taiwan)
- Sisco Research Laboratories Pvt. Ltd. (India)
- Pratham Stearchem Pvt. Ltd. (India)
- Dover Chemical Corporation (USA)
- Mittal Dhatu Rashayan Udyog (India)
- James M. Brown Ltd. (UK)
- Baoyu Chemical Co., Ltd. (China)
- Omkar Specialty Chemicals Ltd. (India)
- Marathwada Chemicals (India)
- Aditivos Y Energéticos (Mexico)
- Kyowa Chemical Industry Co., Ltd. (Japan)
- Struchem Co., Ltd. (South Korea)
- Linghu Xinwang Chemical Co., Ltd. (China)
- Xiamen Hisunny Chemical Co., Ltd. (China)
- Beijing Reward International Trade Co., Ltd. (China)
- Maheshwari Petrochemicals Pvt. Ltd. (India)
Recent Developments
- In August 2023, Peter Greven, a company that produces oleochemical additives and auxiliary products, entered the Chinese market by purchasing a new plant for production of magnesium stearate. This move is anticipated to reinforce the standing of Peter Greven in China in relation to the product categories of alkaline soaps, metallic soaps, esters, and dispersions.
- In September 2023, Elite Chemicals, a well-known Phamaceutical company, announced a new line of magnesium stearate products which will be focused on the food industry. The products are gluten-free and non-GMO that cater to the requirements of the ever-evolving food industry and comfort the quality and innovation zeal of Elite Chemicals.
- In July 2023, Struktol, an American-based multinational company, which is an expert in the manufacture of process additives for the plastics and rubber industries, introduced a new form of magnesium stearate. This material is highly innovative as not only does it meets the rising environmental awareness, but it is also derived from degradable renewable sources which make it a sustainable alternative. It is formulated to meet the needs of the sector with the ever-rising demand for green additives.
Global Magnesium Stearate Key Market Trends
- Shift Towards Sustainable and High-Quality Ingredients: The demand for green and superior quality ingredients has risen exponentially. Several industries are fueling this requirement. They include pharmaceuticals, food, and cosmetics. Manufacturers and consumers alike are seeking materials which are free of contaminants. These materials should also be aligned with the strict quality control rules as well. The magnesium stearate market has also been affected by this trend. The increased production of food and pharmaceutical-grade magnesium stearate is being witnessed throughout the market. These materials are full of these features without compromising quality, which is sought by market players. Environmentally conscious products are popular right now. This has driven green manufacturing processes and sourcing.
- Growing Demand in Pharmaceutical and Nutraceutical Industries: The two industries that have impacted market demand greatly are the nutraceutical and pharmaceutical sectors. Their need for magnesium stearate rises from their capability of being used as a binding agent and lubricant in their manufacturing process. Magnesium stearate can stop ingredients from sticking to each other and the equipment while maintaining consistent quality in tablet form. This is an advantage in the production of pills and tablets. Additionally, the aging population and growing importance of human health has raised the demand for dietary supplements and pharmaceuticals. This is then reflected by market demand for magnesium stearate. This is because it is a crucial ingredient in drug formulas and production.
Global Magnesium Stearate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global magnesium stearate market has shown consistent growth recently. Magnesium stearate, a white, water-insoluble powder that is obtained from stearic acid, is employed as a versatile industrial additive and can be used in various applications across multiple industries. One of the key drivers for this market's growth is the expanding pharmaceutical and food industries. Magnesium stearate is commonly used as a lubricant and flow agent in the production of tablets, capsules, and powdered food products, ensuring smoother manufacturing processes and product quality. Additionally, magnesium stearate is used in the production of skincare and makeup products on a formulaic level thanks to its thickening and binding properties and that’s how the cosmetics and personal care industry has also helped market growth.
The demand for dietary supplements has risen across the world, and the magnesium stearate market is only to gain from this development as it is used to enhance the disintegration and flow properties in supplement pills. However, the market growth is faced by a few challenges, including regulatory restrictions in some regions and environmental concerns related to stearates. Still, manufacturers are now targeting the development of eco-friendly and green alternatives. To conclude, we ascertain the magnesium stearate market will keep to its path of rising growth, driven by the increasing demand in the supplement, pharmaceutical, cosmetics, and food industries, thanks to its multifunctionality. The key factors that will continue to mold the future of this market include sustainable production practice and other innovations.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 510.86 million |
| Market size value in 2031 | USD 1012.74 million |
| Growth Rate | 7.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Magnesium Stearate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Magnesium Stearate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Magnesium Stearate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Magnesium Stearate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Magnesium Stearate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Magnesium Stearate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Magnesium Stearate Market Report Snapshots
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