Magnesium Stearates Is Fastest Growing Segment Fueling The Growth Of Stearates Market

 

The global Stearates Market is estimated to be valued at US$ 6.15 Bn or Million in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Stearates are materials derived from stearic acid, an organic acid that acts as an emulsifier, lubricant, and softening agent. They are commonly used as surfactants and processing aids in the manufacturing of plastics, rubbers, cosmetics, pharmaceuticals, and other materials. Their advantages include lower toxicity and greater compatibility with other materials.

Market key trends:
One of the major trends driving the growth of stearates market is its increasing usage in the plastics and polymer industries. As plastic production grows globally due to high demand from consumer goods and automotive sectors, consumption of stearates as lubricants, release agents and stabilizers in plastic manufacturing is also witnessing significant rise. Magnesium stearate is commonly used as an internal lubricant for polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC) as well as thermosets like polyurethane. They offer advantages like slip, lubricity and ease of processing. The growing plastics industry especially in emerging economies of Asia Pacific is fueling the demand for stearates over the forecast period.

Segment Analysis
The global stearates market is segmented on the basis of type and end use. Based on type, the market is segmented into calcium stearate, aluminum stearate, zinc stearate, sodium stearate, magnesium stearate and others. Calcium stearate is the dominating sub-segment as it is the most commonly used stearate and accounts for over 30% of total market share. Calcium stearate has superior lubricating and stabilizing properties compared to other types, which has led to its wider adoption across industries.

Key Takeaways
The global stearates market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing demand from end use industries like plastics, rubber, construction and packaging.

Regional analysis
Asia Pacific is expected to dominate the global stearates market over the forecast period. Countries like China, Japan and India are major contributors to the growth of the APAC stearates market. This is attributed to the growing manufacturing industry and increasing consumption of stearates in plastic, rubber and construction applications in the region.

Key players
Key players operating in the stearates market are American eChem Inc., Baerlocher GmbH, Corporation Sierra Madre S.A. de C.V., Dover Chemical Corporation, FACI S.p.A., Ferro Corporation, Hummel Croton, Inc., Mallinckrodt Pharmaceuticals, Mexichem S.A.B. de C.V. and Nitika Pharmaceutical Specialties Private Limited (Nikita Chemicals). American eChem Inc. and Baerlocher GmbH are two of the largest manufacturers and suppliers of stearates globally.

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