The Magnesium Stearate Market is projected to reach USD 800.4 million by 2028, at a CAGR of 5.8% between 2018 and 2028. According to Quince Market Insights, the magnesium stearate market is witnessing significant growth, owing to the increasing demand for personal care products, including color cosmetics, creams, lotions, ointments, cream shampoos, baby care, cosmetic products, and personal hygiene. The increasing demand for sanitizers, personal care products, lubricants, plastics, etc., is driving the global magnesium stearate market. The manufacturing of magnesium stearate is spearheaded by varying regulatory bodies, including occupational safety and health administration and toxic substance control act.
The personal care products industry is witnessing rapid growth. People globally use personal care products. This is one of the reasons for the growth of the magnesium stearate market. Magnesium stearate is used in the personal care industry as a texturizer, opacifier, film-forming, anti-caking, etc. Moreover, it is extensively used in the pharmaceutical industry. It works as a release agent and lubricant in cosmetics and pharmaceuticals. All these factors are significantly influencing the demand for magnesium stearate.
Asia Pacific is emerging as the most promising market for magnesium stearate
The magnesium stearate market is witnessed to have the highest growth in the Asia Pacific region during the forecast period. The demand for the product in the region is driven by the pharmaceutical, food & beverages, and cosmetic industries, with major demand from countries, such as China and India. The rapidly growing pharmaceutical industry, due to the rise in demand for generic drugs, is strengthening the magnesium stearate market.
Major companies operating in the global magnesium stearate market are Kirsch Pharma GmbH, PT Halim Sakti Pratama, Parchem Fine & Specialty Chemicals, Nimbasia, Baerlocher GmbH, Valtris Specialty Chemicals, and FACI SPA, Struktol, Peter Greven, Nimbasia, Elite Chemicals, Sinwon Chemical, CHNV New Material, Sifeng Biochem, Dainichi Chemical, Sakai Chemical, Linghu Xinwang Chemical, All-Chemie, Haviland Enterprises, Connect Chemicals, Hydrite Chemical, Mallinckrodt, Pratham Udyog Group, and Amishi Drugs & Chemicals.
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