USD 773.0 billion
Magnesium Hydroxide Market Size, Share, Growth Analysis, By Application(Environmental (Flue-gas Desulphurization, Wastewater Treatment), Pharmaceuticals, Chemicals & Others), By Form(Slurry, Powder, and others), By End-use(Rubber, Building Materials, and Magnesium Salt), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2380 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
92
|Figures:
76
Magnesium Hydroxide Market Insights
Global Magnesium Hydroxide Market size was valued at USD 773.0 billion in 2022 and is poised to grow from USD 826.34 billion in 2023 to USD 1402.99 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024- 2031).
The Global Magnesium Hydroxide Market is witnessing steady growth driven by its diverse range of applications. Magnesium hydroxide finds extensive use in industries such as environmental protection, pharmaceuticals, and flame retardants. Its eco-friendly characteristics and efficient acid-neutralizing properties make it a preferred choice in wastewater treatment and industrial processes.
Additionally, the increasing focus on fire safety regulations fuels demand in flame retardant applications, especially in the construction and automotive sectors.
As sustainability and safety concerns continue to gain prominence across industries, the outlook for the magnesium hydroxide market remains positive, with manufacturers and end-users seeking innovative solutions to address evolving challenges.
US Magnesium Hydroxide Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024- 2031
Global Market Size
Largest Segment
Powder
Fastest Growth
Powder
Growth Rate
6.9% CAGR
Global Magnesium hydroxide market ($ Bn)
Country Share for APAC Region (%)
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Magnesium Hydroxide Market Segmental Analysis
The global Magnesium hydroxide market is segmented into four i.e. Application, Form, End use, and region. Based on Product the market is segmented as, Football, Cricket, Motorsport, Tennis, and Others. Based on Application, the market is bifurcated as, Environmental (Flue-gas Desulphurization, Wastewater Treatment), Pharmaceuticals, Chemicals & Others, Flame Retardants. On the basis of Form the market is segmented as, Slurry, Powder, and others. Based on end use, it is divided into Rubber, Building Materials, Magnesium Salt. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Magnesium Hydroxide Market Analysis by Form
In the Global Magnesium Hydroxide Market, the dominant form is typically powder. Powdered magnesium hydroxide is favoured for its versatility and ease of incorporation into various applications. It offers a high surface area, making it highly effective as an acid-neutralizing agent in processes like wastewater treatment. Its fine particle size allows for efficient dispersion, making it suitable for use in flame retardant formulations, pharmaceuticals, and chemical manufacturing
However, the slurry form is experiencing the fastest growth in the global market. This surge in popularity can be attributed to its ease of handling and application across various industries. Magnesium hydroxide slurry offers advantages such as improved dispersion and uniformity, making it a preferred choice for applications like wastewater treatment, flue gas desulfurization, and neutralization processes. Its liquid form allows for precise dosing and faster reaction times, which is crucial in critical industrial processes. Moreover, the shift toward more sustainable and environmentally friendly solutions has led to increased adoption of magnesium hydroxide slurry, as it aligns well with stringent environmental regulations and the growing emphasis on reducing emissions and waste..
Magnesium Hydroxide Market Analysis by End use
Among all different kinds of end-users, the largest and dominating end-user of the global magnesium hydroxide market is typically the Building Materials sector. This dominance can be attributed to the widespread use of magnesium hydroxide as a flame retardant and smoke suppressant in various construction materials, such as plastics, composites, and coatings. Its ability to enhance fire safety and reduce smoke emissions aligns with stringent building regulations and safety standards worldwide. As urbanization and infrastructure development continue to grow, the demand for fire-resistant building materials is on the rise, driving the prominence of magnesium hydroxide in this sector.
However, the fastest growing is poisoned to be Rubber. This can be attributed to the increasing demand for magnesium hydroxide as a flame retardant and smoke suppressant in rubber manufacturing processes. As safety standards become more stringent, particularly in the automotive and construction industries where rubber products are prevalent, the need for fire-resistant materials has surged. Magnesium hydroxide offers a non-toxic and environmentally friendly solution, making it an attractive choice for rubber manufacturers aiming to meet these evolving regulations while maintaining product quality.
Global Magnesium hydroxide market by Form
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Magnesium Hydroxide Market Regional Insights
Asia Pacific is often considered the largest growing and dominating market for global magnesium hydroxide. This growth can be attributed to several factors. The region's booming industrial and manufacturing sectors, particularly in countries like China and India, drive substantial demand for magnesium hydroxide in various applications, including flame retardants and environmental protection. Moreover, the increasing awareness of environmental concerns and the need for efficient waste treatment solutions in densely populated regions contributes to the higher demand for magnesium hydroxide-based products.
However, North America has emerged as the fastest-growing region in the global magnesium hydroxide market due to several factors. The region's increasing emphasis on environmental regulations and sustainability practices has propelled the demand for magnesium hydroxide, which is renowned for its efficient acid-neutralizing and pollution-controlling capabilities. Moreover, the robust growth of industries such as wastewater treatment, flame retardants, and pharmaceuticals in North America has led to a higher adoption of magnesium hydroxide across various applications.
Global Magnesium hydroxide market by Geography
- Largest
- Fastest
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Magnesium Hydroxide Market Dynamics
Magnesium Hydroxide Market Drivers
Rising Need for the Removal of Sulfur Content from the Fuel
- Increasing usage of magnesium hydroxide in flue gas desulphurization for extracting high-quality petroleum products is estimated to drive the market growth. Deployment of the SO3 removal system is necessary in power plants and other industries, to remove sulfur content in fuel that causes corrosion of machinery and impacts the performance of machines. Therefore, the rising need for the removal of sulfur content from the fuel is expected to drive the market growth.
Magnesium Hydroxide Market Restraints
Availability of Substitutes
- The availability of substitutes such as caustic soda as it is an ideal neutralizing agent is expected to hinder the market growth. Most of the neutralizing systems installed in the industry uses caustic soda as it has a higher reaction rate. However, magnesium hydroxide systems are expensive. These factors are expected to restrict the market growth. However, the growing demand for the magnesium hydroxide is expected to witness significant growth in the upcoming forecast period.
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Magnesium Hydroxide Market Competitive Landscape
The global magnesium hydroxide market features a competitive landscape characterized by several key players who are actively engaged in product development, expansion of production capacities, and strategic partnerships. These industry participants are focused on enhancing their market presence and meeting the evolving demands of various end-user sectors. Innovation remains a central theme, with companies consistently striving to introduce eco-friendly and efficient magnesium hydroxide solutions.
Additionally, strategic collaborations with end-users and suppliers are becoming increasingly common as market players seek to secure a strong position in this growing market. Overall, the competitive landscape of the global magnesium hydroxide market reflects a dynamic environment driven by innovation and strategic initiatives.
Magnesium Hydroxide Market Top Player’s Company Profiles
- Kyowa Chemical Industry Co. Ltd. (Japan)
- Konoshima Chemicals Co. Ltd. (Japan)
- Tateho Chemical Industries Co., Ltd. (Japan)
- Baymag Inc. (Canada)
- Sakai Chemical Industries Co. Ltd. (Japan)
- Lehmann & Voss & CO. KG (Germany)
- Martin Marietta Materials Inc. (US)
- Xinyang Mineral Group (China)
- Premier Periclase Ltd. (Ireland)
- Israel Chemicals Ltd. (Israel)
- Premier Magnesia LLC (US)
- Grecian Magnesite (Greece)
- RHI Magnesita (Austria)
- Imerys (France)
- Kumas Manyezit Sanayi A.S. (Turkey)
- Queensland Magnesia Pty Ltd. (Australia)
- Baymag Inc. (Canada)
Magnesium Hydroxide Market Recent Developments
-
In March 2024, industry specialists predict that high-magnesium brines will become competitive sources of lithium, denoting a change in the lithium market. New extraction innovation created by organizations like E3 Metals Corp., International Battery Metals, and MGX Minerals is supposed to launch in the following year. This advancement will address the rising interest in lithium and produce saleable magnesium hydroxide by bringing it together with magnesium-extraction innovation.
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In September 2023, Atlas, a start-up, got $27 million in financing for its innovative nickel innovation pointed toward improving electric vehicle (EV) batteries.
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In March 2023, PharmaNutra S.p.A. presented the Cetilar® Nutrition line, addressing a critical headway in sports nourishment.
Magnesium Hydroxide Key Market Trends
- Sustainable Solutions Driving Growth: One major key trend in the Global Magnesium Hydroxide Market is the increasing emphasis on sustainability and environmental regulations. As industries worldwide strive to reduce their carbon footprint and adopt eco-friendly practices, magnesium hydroxide's role as an efficient and environmentally friendly flame retardant and acid-neutralizing agent is gaining prominence. This trend is propelling the market forward, as manufacturers and end-users alike seek greener alternatives to traditional chemical additives, fostering the continued growth of magnesium hydroxide in various applications.
Magnesium Hydroxide Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global magnesium hydroxide market analysis, the Global Magnesium Hydroxide Market exhibits a compelling trajectory characterized by its diverse range of applications and growing adoption across industries.
With a heightened focus on environmental sustainability, magnesium hydroxide's intrinsic properties as an eco-friendly flame retardant and an effective acid-neutralizing agent have positioned it as a valuable solution.
The ongoing emphasis on safety standards in sectors like construction and automotive is driving demand for magnesium hydroxide, particularly in flame retardant applications.
Moreover, the pharmaceutical and wastewater treatment industries continue to rely on its unique properties. As global industries increasingly prioritize green alternatives, the market appears poised for sustained growth and innovation.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 773.0 billion |
| Market size value in 2031 | USD 1402.99 billion |
| Growth Rate | 6.9% |
| Base year | 2023 |
| Forecast period | 2024- 2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Magnesium Hydroxide Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Magnesium Hydroxide Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Magnesium Hydroxide Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Magnesium Hydroxide Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Magnesium Hydroxide Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Magnesium Hydroxide Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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