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.
Global Magnesium Hydroxide Market Driver:
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.
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Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Magnesium Hydroxide Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- 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
- 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
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – 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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