Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Magnesium Hydroxide market.
Trusted Business Insights presents an updated and Latest Study on Magnesium Hydroxide Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Magnesium Hydroxide market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Overview Market Analysis & Market Definition: Magnesium Hydroxide Market
Global Magnesium Hydroxide Market: Overview
Magnesium hydroxide is the inorganic compound with the chemical formula Mg(OH)2. It occurs in nature as the mineral brucite. It is a white solid with low solubility in water.
Magnesium hydroxide is defined as an inorganic compound obtained by precipitation process between the magnesium salts and sodium, or potassium and ammonium hydroxide. Brucite, which is a form of natural magnesium, is used for commercial purposes such as fire-retardant while most industrially used magnesium hydroxide is produced synthetically. Brucite may also crystallize in cement and concrete in contact with seawater. Magnesium hydroxide has a chemical formula of Mg(OH)2. Commercial and industrial magnesium hydroxide is chemically manufactured from seawater or brine. Magnesium hydroxide is known as milk of magnesia owing to its milk-like appearance. This compound is less soluble in water. It possesses properties such as flame retardancy, low corrosiveness, and low toxicity. Magnesium hydroxide is a common component of antacids, as well as laxatives.
The top ten companies accounted for about 54% production volume market share in 2016. The major production regions mainly located in Europe, USA, Japan and China. The major manufacturers included are Ube Materials, Martin Marietta, Kyowa Chemical, ICL, Russian Mining Chemical, Xinyang Minerals, Lianda Chemical, Qinghai Best, Deer, Dandong Yungsing, and others.
The global production of magnesium hydroxide increased from 613 K MT in 2012 to 788 K MT in 2017, and expected to grow at a CAGR of 3.41% from 2017 to 2022. The major manufacturers mainly concentrate in Europe, North America, Japan and China.
In 2016, North American magnesium hydroxide production share was about 22%. Europe production share took 17% and Japan production share also took 17%. China took about 32%.
What are the Industrial Uses of Magnesium Hydroxide and what are the methods of synthesis?
Magnesium hydroxide is an important inorganic material used for the environmental protection field, flame retardant field, pharmaceutical field, and wastewater treatment. The largest end-use for magnesium hydroxide, accounting for about 59% of consumption in 2016, was in the environmental sector as flue gas desulfurization (Wet scrubbing using a slurry of magnesium hydroxide sorbent), and wastewater treatment. The use of magnesium hydroxide in flame retardants is the fastest-growing application and accounted for about 23% of magnesium hydroxide consumption in 2016.
Magnesium hydroxide is also used as a laxative to relieve occasional constipation. Magnesium hydroxide is also used as an antacid to relieve indigestion, sour stomach, and heartburn.
Currently, many companies use magnesium ore, seawater, and underground brine as the raw material of magnesium hydroxide. The manufacturing processes are natural product refining methods and chemical synthesis methods. Currently, the chemical synthesis method was the major technology in the market, accounting for approximately 57% market share in 2016. Technical barriers of magnesium hydroxide are low and the magnesium hydroxide market concentration degree is relatively low. At the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality. The competition in the magnesium hydroxide market will become more intense.
What are the key market growth drivers and restraints for Magnesium Hydroxide globally?
Key Market Drivers:
- Increasing industrial growth and rising demand from the water treatment industry.
- Adoption of magnesium hydroxide method as wastewater treatment by oil & gas industries, chemical industries, power plants, and municipal corporations.
- Properties such as flame and fire retardant, use of magnesium hydroxide in building and construction material such as composite panels, roofing components, insulation materials are expected to further drive the growth of the global magnesium hydroxide market.
- Adoption of Magnesium Hydroxide in the pulp and paper industry which effectively replaces Soda ash (Na2CO3), Caustic soda (NaOH), Caustic magnesia (MgO), sodium silicate (Na2SiO3) and Magnesium sulfate (MgSO4).
- Strict government regulations related to the use of magnesium hydroxide in the food industry.
- Side effects such as allergic reactions, skin rashes, itching, and loss of appetite (pharmaceuticals)
- Major changes, investments, and reconfiguration costs are involved when switching from caustic soda based wastewater treatment plants to magnesium hydroxide wastewater treatment.
What is market size of Magnesium Hydroxide, CAGR (Compounded Annual Growth Rate) and Taxonomy?
In 2019, the market size of Magnesium Hydroxide is 1138.1 million US$ and it will reach 1263.1 million US$ in 2025, growing at a CAGR of 1.5% from 2019.
North America region leads the market in terms of revenue owing to the increase in the adoption of magnesium hydroxide in chemical, oil, food, and water industries. It is closely followed by Europe in terms of value. The magnesium hydroxide market in the Asia Pacific is expected to grow at a higher rate compared to other global regions as these regions are readily adopting magnesium hydroxide in the building & construction industry.
Market Segmentation, Outlook & Regional Insights: Magnesium Hydroxide Market
Magnesium Hydroxide Market Segmentation by Product Type: Breakdown of data from the year 2014 to 2019 and forecast until 2029:
- Chemical Synthesis Method
- Physical Method
Magnesium Hydroxide Market Segmentation by Application: Breakdown of data from the year 2014 to 2019 and forecast until 2029:
- Environmental Protection Industry
- Flame Retardant Industry (Non-halogenated flame retardant in the electric and electronic products for fire safety.)
- Pharmaceutical Industry
- Other Applications
Magnesium Hydroxide Market Segmentation by Purity Level: Breakdown of data from the year 2014 to 2019 and forecast until 2029
Magnesium Hydroxide Market Segmentation by Product Form: Breakdown of data from the year 2014 to 2019 and forecast until 2029
- Fine Particles
Key Players, Recent Developments & Sector Viewpoints: Magnesium Hydroxide Market
- Baymag Inc.
- Dandong Yungsing
- Huber Engineering Materials
- Israel Chemicals Ltd.
- Konoshima Chemical Co. Ltd
- Kyowa Chemical Industry Co. Ltd.
- Lehmann & Voss CO. & KG.
- Lianda Chemical
- Lianyungang Nippo
- Martine Marietta Materials Inc
- Nabaltec AG
- Nedmag Industries Mining & Manufacturing B.V.,
- Qinghai West Magnesium
- Russian Mining Chemical
- ShanDong LuHua chemical
- Spi Pharma
- Premier Magnesia LLC.
- Premier Periclase Ltd
- Sakai Chemical Industries Co. Ltd,
- Tateho Chemical Industries Co., Ltd
- Ube Materials
- Weifang Yuandong
- Xinyang Minerals Group
- Yantai FR Flame Technology
Important questions related to the global magnesium hydroxide market answered in this report are as follows.
- Which segments will grow at a faster pace and why?
- Which regions will grow at a faster pace and why?
- What are the key factors affecting market dynamics? What are the drivers and challenges of the magnesium
- hydroxide market?
- What are the business risks and threats to the market?
- What are the emerging trends in this magnesium hydroxide market and the reasons behind them?
- What are the changing demands of customers in the market?
- What are the new developments in the magnesium hydroxide market? Which companies are leading these
- Who are the major players in this magnesium hydroxide market? What strategic initiatives are being implemented by key players for business growth?
- What are some of the competitive products and processes in this magnesium hydroxide area and how big of a threat do they pose for loss of market share via product substitution?
- What M&A(Merger and Acquisition) activity has occurred in the magnesium hydroxide last 5 years?
The regional analysis covered in this global magnesium hydroxide report is as below:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
Quick Read Table of Contents of this Report @ Global Magnesium Hydroxide Market Trends, Applications, Analysis, Growth, And Forecast: 2019 To 2029 (Includes Business Impact of COVID-19)
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