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 ri