Magnesium stearate is the chemical compound consisting of stearate (anion of stearic acid) and magnesium cation. Magnesium stearate is a white, water-insoluble powder. 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.
Magnesium Stearate is used in chemical industries. Important industries using stearate are given below:
Ø Pharmaceuticals
Ø Cosmetics Industry
Ø Paints and Varnishes,
Ø Cement paints
Ø Manufacture of compound for PVC Pipes
Ø Rubber Industry
Ø Soap Industry.
Applications:
1. It is applied in pharmaceuticals drugs as binder in order to bind tablets and make them smooth.
2. With no side effects known, it is also used as a common additive or preservative in several foods.
3. It is an effective emulsifier for syrups, ketchups, sauces etc.
4. Confectioneries utilises it for binding candies etc.
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. Spiraling usage of magnesium stearate as an excipient in tablets, capsules, and other drug formulations is likely to stoke the growth of the market. Increasing health consciousness among people across the world coupled with rising disposable incomes in countries such as China and India is bolstering the growth of the market.
Few Indian Major Players
· Micron Chemicals Ltd.
· Ritesh International Ltd.