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Magnesium Stearate Market 2020 Global Analysis by Opportunities, Size, Share, Growth Factors, Regional and Competitive Landscape Forecast to 2027

 

New York, NY -- (SBWIRE) -- 12/24/2020 -- Magnesium stearate is basically the magnesium salt of one of the fatty acids, stearic acid. A direct reaction of fatty acids with magnesium sources, such as magnesium oxide, can form this magnesium salt. Magnesium stearate is beneficial to different industries, owing to its several outstanding properties. The magnesium stearate market is projected to accumulate a valuation of USD 717.2 million in 2027.

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Market Drivers

Magnesium stearate comes as a form of white powder that sticks to the skin and greasy to touch. This compound is enormously used in the food industry as an emulsifier, binder, lubricant, antifoaming, thickener, and anti-cracking agent. Therefore, magnesium stearate finds numerous applications in food supplements, several confectionary, herbs and spices, and baking ingredients. These widespread applications are majorly fostering the market's growth. Additionally, this magnesium salt is highly utilized as a form of an inactive ingredient, especially in manufacturing pharmaceutical capsules, powders, and tablets. This factor is also contributing substantially to the growth of the market. Other factors responsible for the steadfast market growth include rapid expansion of the pharmaceutical industry worldwide, elevating demand for different products in food & beverage, and increasing need for personal care products across the globe.

Further key findings from the report suggest

The Magnesium Stearate market held a market share of USD 421.2 Million in the year 2018 that is forecasted to grow at a rate of 6.1% during the forecast period.

In context to Form, the Powder segment is projected to witness the fastest growth rate of 6.6% during the forecast period, which occupied more than 50.0% of the market in 2018. The growth rate witnessed by the Powder segment is attributed to the extensive commercial availability of this chemical compound in this form, its high demand in this form in the pharmaceutical sector, which is contributing to the growth rate witnessed by the Powder segment.

In context to Grade, the Pharmaceutical Grade segment held the largest market share of more than 40.0% in 2018, with a CAGR of 6.3% during the forecast period. The market share held by the Pharmaceutical Grade segment is attributed to the continuous expansion of the healthcare sector, the associated elevating demand for medications and applicability of the pharmaceutical grade magnesium stearate as a lubricant and additive in medication capsules, which contributes to the market share held by this segment. It is used to post-pone the breakdown and absorption of medications that help in its absorption in the correct area of the bowel.

In regards to the region, Europe is projected to witness a considerable CAGR of 6.3% during the forecast period, which is expected to hold 28.5% of the market by 2027. The growth rate witnessed by Europe is attributed to the continuous growth of the food & beverage sector, rising geriatric population, and expanding pharmaceutical industry along, which is supporting the expansion of the sector in this region.

Key participants include PT Halim Sakti Pratama, Kirsch Pharma GmbH, Nimbasia Stabilizers, Parchem Fine & Specialty Chemicals, Valtris Specialty Chemicals, Baerlocher GmbH, Faci S.p.A., Norac Additives LLC, Sun Ace Kakoh (Pte.) Ltd., James M. Brown Ltd., and Peter Greven GmbH & Co. KG.

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For the purpose of this report, Reports and Data have segmented the global Magnesium Stearate market according to Form, Grade, End-user, and Region:

Form Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)

Powder
Flake
Others

Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)

Food Grade
Pharmaceutical Grade
Industrial Grade
Others

End-user Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)

Pharmaceutical
Food & beverage
Personal Care
Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)

North America
Europe
Asia Pacific
MEA
Latin America

Regional Analysis

Asia Pacific has dominated the market due to the booming pharmaceutical sector and advancements in personal care and food & beverage. Other regions, like North America, are also exhibiting an exponential growth owing to well-developed pharmaceutical and healthcare sectors along with the existence of renowned market vendors. Soaring demand for medication capsules with maintained consistency and quality is also propelling the growth of the regional market.

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