Magnesium Hydroxide Market 2021 – Growing Application an Excellent Combination Growth Over the Forecast Timeframe
Magnesium hydroxide is a white chemical compound that can be found in nature as the mineral brucite. It’s utilised as an antacid to treat gastrointestinal issues like constipation, indigestion, sour stomach, and gastric formation.. Magnesium hydroxide possesses smoke-suppressing and flame-retardant qualities, making it useful in a variety of fire-retardant applications. Magnesium hydroxide is also utilised in the treatment of wastewater and the desulfurization of flue gases. It’s also utilised as a cellulose protector and alternative neutralising agent in the pulp and paper sector.
The global magnesium hydroxide market was estimated to account for US$ 651.4 million in terms of revenue in 2018 and is predicted to grow at a CAGR of 5.8% during the forecast period (2019 to 2027).
Drivers
The market for magnesium hydroxide is predicted to develop due to rising demand for high quality and clean water in wastewater treatment. Magnesium hydroxide is an alkaline compound that aids in the reduction of sludge volume in water. Magnesium hydroxide is predicted to grow with rise in the global population base rate, urbanisation, and the expansion of the oil &gas industry. According to the American Society of Civil Engineers, wastewater treatment spending in the United States is predicted to rise to over US$ 78 billion by 2020, up from roughly US$ 40 billion in 2010.
Market Opportunities
Magnesium hydroxide’s market growth is likely to be accelerated by rising demand from the electronics industry, where it is employed as a protective coating for plasma display displays.. Furthermore, high purity magnesium hydroxide is employed in the manufacturing of thin-film semiconductors, and researchers are looking into other similar electronic applications of magnesium hydroxide, which will boost market growth throughout the projection period.
Market Restraints
Another significant disadvantage of magnesium hydroxide is that effective flame retardancy necessitates high metal loading levels, which is predicted to limit its market expansion. Increased inorganic metal hydroxide loading may cause a decline in metal physical and chemical properties, which can affect thermal and flame retardancy capabilities.
The prominent players in the Magnesium Hydroxide Market are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd., Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin Marietta Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.
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Key Takeaways
In terms of volume, environmental dominated the worldwide magnesium hydroxide market in 2018, accounting for 62.8 percent of the market, followed by chemicals & others and flame retardants, respectively.
Market Trends
In the worldwide magnesium hydroxide market, there has been a continuous trend of acquisition and merger for magnesium hydroxide by flame retardant manufacturers. Magnesium hydroxide is viewed as a viable alternative to halogenated flame retardant materials, and producers are working hard to capitalise on the potential growth opportunity. This current trend is expected to boost market growth. Huber Engineering Materials, for example, purchased Albemarle Corporation’s Martinswerk mineral flame retardants and specialty chemical business in December 2015, which includes Magnifin, a premium precipitated magnesium hydroxide product line.
The increasing focus of manufacturers on expanding magnesium hydroxide production facilities will have a beneficial impact on the market growth of magnesium hydroxide. For example, in January 2020, The Board of Directors of MAGNIFIN Magnesiaprodukte approved the preparatory work for the construction of a second MAGNIFIN Magnesiaprodukte production site. This significant investment is driven to meet rising global demand for high-purity, halogen-free magnesium hydroxide fire retardants. As a result, growing manufacturing initiatives to fulfil rising demand for magnesium hydroxide is likely to fuel market growth.
Competitive Section
Key players active in the global magnesium hydroxide are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd, Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin Marietta Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.
Few Recent Developments
Huber Engineering Materials
In February 2016, the Company purchased Albemarle Corporation’s Martinswerk business, which includes a manufacturing site in Bergheim, Germany, as well as Magnifin, a precipitated Magnesium hydroxide product line.
In June 2015, the firm purchased the Floridienne Group’s patented Safire Nitrogen and Phosphorus technology and integrated it into its halogen-free flame retardant range.
Main points in Magnesium Hydroxide Market Report Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Magnesium Hydroxide Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Magnesium Hydroxide Industry Impact
Chapter 2 Global Magnesium Hydroxide Competition by Types, Applications, and Top Regions and Countries
2.1 Global Magnesium Hydroxide (Volume and Value) by Type
2.3 Global Magnesium Hydroxide (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Magnesium Hydroxide Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Magnesium Hydroxide Market Analysis
Chapter 6 East Asia Magnesium Hydroxide Market Analysis
Chapter 7 Europe Magnesium Hydroxide Market Analysis
Chapter 8 South Asia Magnesium Hydroxide Market Analysis
Chapter 9 Southeast Asia Magnesium Hydroxide Market Analysis
Chapter 10 Middle East Magnesium Hydroxide Market Analysis
Chapter 11 Africa Magnesium Hydroxide Market Analysis
Chapter 12 Oceania Magnesium Hydroxide Market Analysis
Chapter 13 South America Magnesium Hydroxide Market Analysis
Chapter 14 Company Profiles and Key Figures in Magnesium Hydroxide Business
Chapter 15 Global Magnesium Hydroxide Market Forecast (2021-2027)
Chapter 16 Conclusions
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