Report Ocean recently released a research report on the Magnesium Hydroxide Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global magnesium hydroxide market revenue was around US$ 0.9 billion in 2021 and is estimated to reach US$ 1.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2022 to 2031.
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Magnesium hydroxide is frequently used in anaerobic and aerobic biological treatment systems in slaughter facilities, bakeries, and chemical processing facilities. It is used to treat acidic industrial wastewater that contains metals. It produces a filter cake that dewaters more quickly than lime or caustic soda.
Factors Influencing Market Growth
The rising demand for magnesium hydroxide for a variety of applications, including medicinal, flame retardant, and environmental protection, is anticipated to be a key driving force behind the market’s expansion.
An increase in the use of the compound in the pharmaceutical industry drives market growth.
In the iron and steel sectors, small amounts of magnesium are added to white cast iron in the iron and steel industries to cause graphite to crystallize into spherical nodules. Therefore the, rising usage of magnesium hydroxides in the steel sector creates lucrative opportunities in the market.
The presence of alternatives is expected to impede the expansion of the market.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the government enacted a lockdown, the import and export of chemicals as well as the supply of electrical devices that were flame retardants halted. However, magnesium hydroxide is in high demand in the pharmaceutical business as a short-term treatment for sporadic constipation in adults and children. Rising levels of magnesium may also aid COVID-19 patients in successfully battling the infection. Thus, rising pharmaceutical industry demand is anticipated to propel the market.
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Regional Insights
Asia-Pacific dominated the market. Magnesium hydroxide is widely used to prevent and treat a wide range of common medical conditions, including metabolic syndrome, migraine headaches, preeclampsia, diabetes, hyperlipidemia, premenstrual syndrome, asthma, and several cardiac arrhythmias. Additionally, the pharmaceutical industry’s expansion is anticipated to fuel the market in this region.
Leading Competitors
The leading competitors in the global magnesium hydroxide market are:
Albemarle Corporation
Elementis
Huber Engineered Materials
Kisuma Chemicals B.V
Konoshima Chemical Co Ltd
Kyuwa Chemicals
Loba Chemie Pvt ltd
Martin Marietta Materials Ltd
Nedmag B.V
Osian Marine Pvt Ltd
Premier Magnesia LLC
Tateho Chemical Industries Co Ltd
Timab Magnesium
Ube Material Industries Ltd
Xinyang Mineral Group
Others
Segmentation Analysis
The global magnesium hydroxide market segmentation focuses on Form, Application and Region.
Segmentation based on Form
Slurry
Powder
Others
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Segmentation based on Application
Wastewater Treatment
Flue-Gas Desulphurisation
Flame Retardant
Pharmaceutical
Food Additive
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Table of Content
Chapter 1: Global Magnesium Hydroxide Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Magnesium Hydroxide market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Magnesium Hydroxide Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Magnesium Hydroxide market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Magnesium Hydroxide market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Magnesium Hydroxide market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Magnesium Hydroxide market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Magnesium Hydroxide business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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