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Magnesium Stearate Market Research Report: By Form (Powder, Flakes), Application (Binders & Fillers, Texturizers, Food Additives, Thickeners), End-Use Industry (Pharmaceuticals, Food & Beverages, Personal Care) - Global Industry Analysis and Demand Forecast to 2030

  • Published: July 2020
  • Report Code: CM12060
  • Available Format: PDF
  • Pages: 182

Magnesium Stearate Market Overview

The global magnesium stearate market stood at $1,492.3 million in 2019, and the market size is expected to demonstrate a CAGR of 5.3% during the forecast period (2020–2030). The rapid growth of the pharmaceuticals sector in Asia-Pacific (APAC), along with the increasing consumption of the compound in the personal care sector, is one of the major factors promoting the growth of the global magnesium stearate industry.

Although the COVID-19 pandemic has had a negative impact on several markets, on account of the nationwide lockdowns in several countries, leading to manufacturers shutting down their operations, the magnesium stearate market has witnessed growth during the pandemic. This is ascribed to the appreciable rise in the consumption of the compound in the pharmaceuticals sector.

Magnesium Stearate Market

Segmentation Analysis

Powdered Form To Demonstrate Higher Consumption

In 2019, the powder category held the larger size in the magnesium stearate market, on the basis of form. Powdered magnesium stearate witnesses a high-volume demand from the pharmaceuticals sector, owing to its usage as a suitable release agent during drug manufacturing. The usage of the compound prevents tablets from sticking to the manufacturing equipment, thereby making the production process efficient and time-saving.

Moreover, the consumption of the powdered form of the compound has witnessed a surge in cosmetic products, such as pressed powders, foundations, and eye shadows, owing to its ability to serve as an anti-caking agent. With the growth of these end-use industries, the consumption of the compound is likely to increase during the forecast period.

Binders & Fillers Application To Retain Its Dominance

The binders & fillers category witnessed the highest product demand in 2019, based on application, and the trend is likely to continue during the forecast period. This can be ascribed to the high-volume requirement for the compound, as a binder, in medicated drugs (tablets), owing to its ability to hold the ingredients together. In addition, the compound is garnering fast-paced adoption as a filler in cleaning products, such as laundry detergents. Owing to such factors, the demand for the compound, for application as a binder and filler, is projected to increase, thereby boosting the magnesium stearate market.

Pharmaceuticals Sector To Showcase Fastest-Growing Demand

The pharmaceuticals category is expected to demonstrate the fastest-growing demand for the compound during the forecast period, primarily on account of the increasing awareness regarding its usage as a suitable release agent, as well as a low-cost binder and filler, in medicated drugs. Additionally, with the growing investments in the pharmaceuticals sector, particularly in developing economies, the consumption of the compound is expected to further ramp up in the coming time.

Geographical Outlook

APAC To Witness Highest Consumption

Geographically, APAC held the largest market share in 2019, on account of a significant rise in the consumption of the compound, majorly in the pharmaceuticals, food & beverages, plastics, and personal care industries. Chemical manufacturers present in the region are putting an immense focus on facility expansions, in order to meet the high-volume demand from the end-use industries in the region. Additionally, the rising prevalence of several diseases is increasing the consumption of prescribed medicated tablets and capsules.

In order to meet the increasing demand for such drugs, the consumption of the compound is witnessing a rise in the APAC region, and the trend is likely to continue in the coming years, in turn, boosting the magnesium stearate market.

APAC To Showcase Fastest-Growing Demand

The magnesium stearate market in APAC is expected to demonstrate the fastest growth, primarily on account of the rapid surge in the product demand from end-use industries such as personal care and pharmaceuticals. The pharmaceuticals industry in countries such as China, India, South Korea, and Thailand is witnessing considerable growth, on account of the increasing research and development (R&D) investments by the leading drug manufacturers present in the region, in order to leverage the strong growth potential of the market. Moreover, the consumption of the compound is increasing in the personal care sector, particularly for application in cosmetic products, such as foundations, blushes, eyeshadows, and lipsticks.

With the growth of these industries in the region, the consumption of the compound is expected to increase in the coming times, in turn, augmenting the magnesium stearate market growth. Additionally, the availability of low-cost labor and land makes the region a lucrative market, attracting investments from North American and European manufacturers.

Magnesium Stearate Market

Trends & Drivers

Increasing Product Adoption in Food & Beverages Sector

The rising adoption of magnesium stearate in the food & beverages sector is being observed as a key trend in the market. In recent years, the consumption of the compound in the food & beverages sector has gained momentum, with the increase in the awareness about the beneficial properties of the chemical, as a food additive. The consumption of the compound is garnering pace as a food additive, for products such as confectionery items, chewing gums, granulated mints, as well as food supplements.

Magnesium Stearate Market

Growth of APAC Pharmaceuticals Sector Driving Magnesium Stearate Market

Magnesium stearate is widely used as an inactive ingredient by pharmaceutical drug manufacturers, in order to prevent the ingredients from sticking to the manufacturing equipment. The compound has the ability to serve as a low-cost release agent, therefore is preferred by drug manufacturing companies. With the growth in pharmaceutical manufacturing across the developing countries of the APAC region, including China, India, and Indonesia, the consumption of the compound continues to witness a rapid surge. Therefore, such factors are expected to augment the magnesium stearate market advance in the APAC region during the forecast period.

Global Magnesium Stearate Market Report Coverage
Report Attribute Details
Historical Years 2014-2019
Forecast Years 2020-2030
Base Year (2019) Market Size $1,492.3 million
Forecast Period (2020-2030) CAGR 5.3%
Report Coverage Market dynamics, revenue estimation and forecast, segmentation analysis, regional and country breakdown, companies’ strategic developments, product benchmarking, company profiling
Market Size by Segments Form, application, end-use industry, geography
Market Size of Geographies U.S., Canada, Germany, France, U.K., Italy, China, India, South Korea, Japan, Brazil, Mexico, Colombia, U.A.E., Saudi Arabia, South Africa
Secondary Sources and References (Partial List) American Association for Cancer Research, American Cancer Society Inc., American Chemical Society, American Chemistry Council, Association of the British Pharmaceutical Industry, Brazil Chemical Industry Association, Cancer Research Institute

 

Increasing Application of Compound in Personal Care Industry

Lately, the consumption of the compound in the personal care sector has witnessed a surge, majorly in China, the U.S., Germany, France, India, and South Korea. Magnesium stearate has the ability to serve as an excellent texturizer and lubricant in cosmetics. In addition, it is widely used as a thickening agent in creams and haircare products, such as shampoos, conditioners, and hair masks.

With the increase in consumer spending in developing nations, the consumption of personal care products has witnessed a rise, which, in turn, has created a high demand for magnesium stearate, as a raw material. Therefore, such factors are propelling the magnesium stearate market.

Manufacturers Making Hefty Investments in order to Expand Capacities

The magnesium stearate market has a few large-scale players operating at the global level. These include Baerlocher GmbH, Sinwon Chemical Co. Ltd., James M. Brown Ltd., Merck KGaA, Hefei TNJ Chemical Industry Co. Ltd., Thermo Fisher Scientific Inc., Peter Greven GmbH & Co. KG, Struktol Company of America LLC, Haihang Industry Co. Ltd., and Tokyo Chemical Industry Co. Ltd.

In recent years, players in the industry have involved themselves in a number of strategic activities, in order to stay ahead of their competitors. For instance:

  • In June 2020, Peter Greven GmbH & Co. KG relocated its headquarters and the development lab of its subsidiary, Norac Additives LLC, to Pomona, California, U.S.
  • In February 2020, Peter Greven GmbH & Co. KG added a new production line for high-quality, vegetable-based, dust-free stearates, to meet the rising demand of the pharmaceuticals, food, animal feed, and cosmetics industries. The new line will be used for the production of customized, dust-free metallic stearates, including those containing magnesium, calcium, zinc, sodium, and potassium. The production of the new grades will take place at the company’s site in Venlo, in the Netherlands.

Magnesium Stearate Market

Some of the key market players in magnesium stearate market include:

  • Sinwon Chemical Co. Ltd.
  • Baerlocher GmbH
  • James M. Brown Ltd.
  • Merck KGaA
  • Hefei TNJ Chemical Industry Co. Ltd.
  • Thermo Fisher Scientific Inc.
  • Peter Greven GmbH & Co. KG
  • Struktol Company of America LLC
  • Haihang Industry Co. Ltd.
  • Tokyo Chemical Industry Co. Ltd.

Magnesium Stearate Market Size Breakdown by Segment

The magnesium stearate market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.

Based on Form

  • Powder
  • Flakes

Based on Application

  • Binders & Fillers
  • Texturizers
  • Food Additives
  • Thickeners

Based on End-Use Industry

  • Pharmaceuticals
  • Food & Beverages
  • Personal Care

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Colombia
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • U.A.E.
    • South Africa
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