Press Release

A USD 1.1 Billion Global Magnesium Hydroxide Market to Witness an Impressive CAGR of Around 3.9% During 2024-30

The Global Magnesium Hydroxide Market size was valued at around USD 1.1 billion in 2023 & is projected to grow at a CAGR of around 3.9% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Magnesium hydroxide or Mg(OH)2 is a white-looking, non-poisonous, inorganic compound with low solubility in water and can be determined in nature within the form of brucite mineral. The compound unearths its utility across numerous industries in the form of energy and slurry. Its application involves- environmental protection (flue-gas desulfurization and wastewater treatment), medicinal compounds, flame retardants, food and fuel additives, etc.

The growth in the Global Magnesium Hydroxide Market is specifically derived from the growth in compound demand across distinct industries for its application. The compound is used for flue-gas desulphurization in which it is used as an absorbing agent to soak up sulfur dioxide which if released into the atmosphere can cause acid rain. In wastewater treatment, it is used for improving the pH levels of wastewater to prevent the corrosion of equipment and efficient water treatment. As a medicinal compound, it is used as a laxative and antacid which help in short relief from the constipation problem and acidic indigestion in the stomach respectively. Mg(OH)₂ is also used as an excellent flame retardant as when at high temperatures, the compound undergoes an endothermic reaction thereby producing magnesium oxide and water which acts as a smokescreen to cut off oxygen supply, slowing temperature rise, and preventing the rise of toxic gases. Additionally, it is also used as a fuel additive for pH balancing in oil production to prevent corrosion in equipment.

Further, the market can showcase substantial growth in emerging economies as in these markets there is a rapid rise in industrialization, infrastructural development, and an increase in environmental regulations with a focus on sustainability and environmentally friendly approaches. Such development along with the wide application usage of the compound across industries presents a positive future outlook and substantial growth in the Global Magnesium Hydroxide Industry, further states the research report, “Global Magnesium Hydroxide Market Analysis, 2024.”

Segmentation Analysis

Environmental Protection Segment Holds the Largest Market Share

Based on the application, the market is further bifurcated into, environmental protection, medicinal compounds, flame retardants, fuel additives, food additives, and others. The environmental protection segment holds the largest market share and will continue to dominate the market over the forecasted period. This application is divided into flue-gas desulfurization and wastewater treatment. In the flue-gas desulfurization method, magnesium hydroxide is used to soak up sulfur dioxide gases. The release of sulfur dioxide into the ecosystem can result in acid rain. In wastewater treatment, it's far used for pH balancing by way of increasing the pH level of wastewater to prevent corrosion of the system used, and healthful microbial activity to ensure effective treatment of the wastewater.

The Asia-Pacific Region Shows Bright Market Outlook

The Asia-Pacific region is experiencing rapid industrialization, infrastructural development, and developing environmental regulations, especially because of India and China. This is specifically due to the presence of a large population, increasing middle class, and growing disposable incomes that are driving the big consumption in the region. The improvement of such eventualities will create a synergy leading to a boom in the application usage of magnesium hydroxide specifically for flue-gas desulfurization, wastewater treatment, and flame retardant fillers. This highlights the possibility of ample growth opportunities in the region which is likely to continue over the foreseeable future for the Global Magnesium Hydroxide Market.

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 are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the regions?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?