Global Magnesium Hydroxide Market Dynamics, Application Share, Growth, Vendor Competition, Trends and Forecast 2022-2032

With a projected growth rate of 5.3%, the global magnesium oxide market, which was valued at US$ 720.54 million in 2022, is anticipated to reach US$ 1.21 billion by 2032.

The market is determined by dynamics such growing intake of magnesium hydroxide in environmental applications. Magnesium hydroxide is an inorganic alkaline compound and is white and odorless. It has tough neutralizing features in comparison to popular neutralizing agents like caustic soda. Magnesium Hydroxide is found in large quantities in natural resources or it can be easily manufactured from brine sea water, through precipitation method. The commercial magnesium hydroxide is produced from sea water or brine.

Magnesium Hydroxide Market demand is growing as it is a natural source mineral integral to many body parts like muscles and nerves. It is a common component of laxatives and antacids and used to reduce stomach acids. Another popular use of the product is as an antiperspirant deodorant for underarms. The milk of magnesia is marketed as liquid suspension, capsules, chewable tables and syrups in different flavors for reducing indigestion and heartburn complaints. The fast paced growth of pharmaceutical industry is helping the overall growth of global magnesium hydroxide market.

Furthermore, magnesium hydroxide is also used to neutralize acidic wastewater and desulphurization. The growing preference by countries towards power plants working on fossil-fuel, has increased consumption of magnesium hydroxide for desulphurization. Features like flame retardant properties has made magnesium hydroxide as a preferred compound globally. Magnesium Hydroxide Market demand is also high owing to its high performance, cost effectiveness, low corrosiveness and very low toxicity. Costly wastewater treatment investment in industries like oil and gas, chemical, power plants are further responsible for market growth. Furthermore, magnesium hydroxide is widely used in pulp and paper industry, magnesium salt, food additives and lubricants.

During the waste water treatment application cost is involved in replacing the caustic soda by magnesium hydroxide. This cost is a major factor restricting the growth of the market in the coming years and might impact the global magnesium hydroxide market.

Based on region the global magnesium hydroxide market is divided as North America, Europe, Asia Pacific and Rest of the World (ROW). China is leading in magnesium hydroxide market demand and is expected to grow significantly during the forecast period. North America and Europe might observe a little bit of stagnancy in the market growth. But, Japan has high demand of the product and is predicted to keep growing due to the growing number of fossil power plants. Magnesium hydroxide is also popularly used as fuel retardant, hence has high demand across the globe. Owing to its properties of excellent performance, cost effective, low corrosiveness, and a non-toxic compound, the product is becoming popular everywhere.

The global magnesium hydroxide market is further segmented on the basis of Type viz, Chemical Synthesis method and Physical Method. Segmentation by application is Environmental Protection Industry, Pharmaceutical Industry, Flame Retardant Industry, and many Other Applications.

The key companies profiled for the manufacture of magnesium hydroxide are Albemarle, Almatis GmbH, aAkzoNobel, Corporation, Chemtura Corporation, China Minmetals Nonferrous metals, BASF SE, Cyter Industries, Israel Chemicals and many others.

Magnesium Hydroxide Market Scope

Segmentation:

The various segments of global magnesium hydroxide market are,

By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

By Type:

• Chemical Synthesis Method
• Physical Method

By Applications:

• Environmental Protection Industry
• Flame Retardant Industry
• Pharmaceutical Industry
• Other Applications