Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Magnesium Hydroxide Market, The Global Magnesium Hydroxide Market size was valued at around USD 1.1 billion in 2023 & is estimated to grow at a CAGR of around 3.9% during the forecast period, i.e., 2024-30. The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Magnesium Hydroxide Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook & Forecasts:
- Forecast Period: 2024-2030
- Market Size in 2023: USD 1.1 billion
- CAGR (2024-2030): 3.9%
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Global Magnesium Hydroxide Market Segmentation Breakdown:
- By Application
- Environmental Protection- Market Size & Forecast 2019-2030, Thousand Tons
- Flue-Gas Desulphurization- Market Size & Forecast 2019-2030, Thousand Tons
- Wastewater Treatment- Market Size & Forecast 2019-2030, Thousand Tons
- Medicinal Compounds- Market Size & Forecast 2019-2030, Thousand Tons
- Flame Retardants- Market Size & Forecast 2019-2030, Thousand Tons
- Fuel Additives- Market Size & Forecast 2019-2030, Thousand Tons
- Food Additives- Market Size & Forecast 2019-2030, Thousand Tons
- Others (Cosmetics, Pulp Bleaching, etc.)- Market Size & Forecast 2019-2030, Thousand Tons
- Environmental Protection- Market Size & Forecast 2019-2030, Thousand Tons
Based on application, the environmental protection segment occupies the largest market share and will continue to do so because of the rise of the environment and sustainability focus trend over the forecast period.
- By Form
- Slurry- Market Size & Forecast 2019-2030, Thousand Tons
- Powder- Market Size & Forecast 2019-2030, Thousand Tons
- Others- Market Size & Forecast 2019-2030, Thousand Tons
- By Grade
- Industrial- Market Size & Forecast 2019-2030, Thousand Tons
- Food- Market Size & Forecast 2019-2030, Thousand Tons
- Pharmaceuticals- Market Size & Forecast 2019-2030, Thousand Tons
Industrial grade Mg(OH)2 holds the largest share of the Magnesium Hydroxide Market. The rationale behind this is the extensive use of the compound in industrial applications such as fire retardants, flue-gas desulfurization agents, and wastewater treatment is for prevention and slow down of fire-related accidents, neutralizing acidic gases like SO2, and increasing the pH levels of wastewater respectively.
Geographical Growth Insights:
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Asia-Pacific region dominates the Magnesium Hydroxide Market. The rationale for this is the rapid economic growth in the region driven by countries like India and China.
MarkNtel Advisors Highlights Key Market Drivers for Magnesium Hydroxide Market:
Increasing Industrial Use of Mg(OH)2 – The Global Magnesium Hydroxide Market growth & expansion is in particular pushed by the upward thrust in Mg(OH)2 usage across various end-users. In the flue-gas desulfurization process, the magnesium hydroxide is utilized in a slurry form. It absorbs sulfur dioxide fuel released by industries which otherwise should lead to acid rain if emitted into the ecosystem. In wastewater treatment, magnesium hydroxide is used to improve the pH level of the wastewater. This will lead to the accelerated microbial activity necessary for the biological treatment. Apart from this, an increase in pH will also prevent the corrosion of equipment involved in the treatment. Similarly, this acid-neutralization ability allows its usage as a fuel additive. As a laxative, magnesium hydroxide which is largely insoluble in water, will take in the water from its surroundings because the body attempts to remove it through excretion. As an antacid, the magnesium hydroxide compound neutralizes the acidic activity in the stomach, supporting in solving problems like heartburn, acid indigestion, and upset stomach.
Additionally, magnesium hydroxide is extensively used as a flame retardant. This is due to the fact magnesium hydroxide while coming in touch with a high temperature, goes through an endothermic response in which it absorbs heat from surroundings which prevents the temperature from upward push. Also, this reaction will result in the formation of magnesium oxide and water. Magnesium Oxide prevents the rise of any toxic acidic gas and water in its vapor form covers the flame thereby cutting the oxygen supply for the flame and also reducing the amount of smoke produced when materials burn. Hence, it finds significant applications in flame retardant filler material used in building materials, rubber, and plastic.
A Comprehensive Analysis of Leading Companies in Global Magnesium Hydroxide Market
Xinyang Minerals Group, Premier Magnesia, LLC, NikoMag, Nedmag B.V., Tateho Chemical Industries Co., Ltd., Konoshima Chemical Co. Ltd., Osian Marine Chemicals Pvt. Ltd., Elementis, Timab Magnesium, Israel Chemicals Ltd., Huber Advanced Materials, Nabaltec AG, Lehmann&Voss&Co., Martin Marietta Magnesia Specialties, LLC, Kisuma Chemicals B.V., and Others
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What are the growth Opportunity driving the Global Magnesium Hydroxide Market?
Rapid Growth in Emerging Economies – For the Global Magnesium Hydroxide Market, significant growth will come from large emerging economies like India and China. These countries have large populations with a growing middle class and rising disposable income that will drive massive consumption in these countries. This consumption driving economic growth will lead to an increase in the application usage of magnesium hydroxide.
The emerging economies are going through a huge infrastructure development. Such development will increase the demand for building materials which for added safety reasons will be using magnesium hydroxide as a flame retardant filler. Apart from this, the rise in industrialization in emerging economies will need proper pollution control measures like flue-gas desulfurization. Also, the growing need for wastewater treatment can fuel the growth of magnesium hydroxide in the market.
Furthermore, the growing middle with disposable income who want to look after their health and wellness could further propel the demand for magnesium hydroxide through the rise in demand for personal care, cosmetics, and dietary supplements. The sweet spot of rapidly growing industrial activity, rising consumer base, and the economic growth that comes with it presents a significant growth opportunity to stakeholders in the Magnesium Hydroxide Market.
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