The global magnesium hydroxide market was valued at $0.6 billion in 2021, and is projected to reach $1.1 billion by 2031, registering a CAGR of 5.7% from 2022 to 2031.
Magnesium hydroxide is a short-term treatment for constipation in children and adults. Magnesium hydroxide is offered as a chewable tablet, tablet, and oral solution (liquid). Magnesium hydroxide is also used in conjunction with other drugs as an antacid to treat heartburn, acid reflux, and upset stomach. It improves the mechanical, fabrication, and welding characteristics of aluminum when used as an alloying agent.
For the purpose of analysis, the magnesium hydroxide market scope covers segment based on type, application, and region. The forms of magnesium hydroxide including, slurry, powder, and others are analyzed in the report. The use of magnesium hydroxide in various applications, including wastewater treatment, flue-gas desulphurisation, flame retardant, pharmaceutical, food additive, and others are analyzed in the report. Moreover, it analyzes the current market trends of magnesium hydroxide across different regions, such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
In addition, the report covers profiles of key industry participants such as Albemarle Corporation, Elementis, Huber Engineered Materials, Kisuma Chemicals B.V, Konoshima Chemical Co, Kyuwa Chemicals, Loba Chemie Pvt. Ltd, Martin Marietta Materials Ltd, Nedmag B.V, Osian Marine Pvt Ltd, Premier Magnesia LLC, Tateho Chemicals Industries Co. Ltd, TIMAB Magnesium, Ube Materials Industries Ltd., and Xinyang Mineral Group. These players have been adopting various strategies to gain higher share or to retain leading positions in the market. For instance, in 2022, Huber Engineered Materials completed acquisition of MAGNIFIN. MAGNIFIN products are sold globally by Martinswerk GmbH as part of the HEM Fire Retardant Additives (FRA) strategic business unit, which produces a wide range of halogen-free fire retardants, smoke suppressants, and specialty aluminum oxides.
Magnesium hydroxide is a short-term treatment for constipation in children and adults. Magnesium hydroxide is offered as a chewable tablet, tablet, and oral solution (liquid). Magnesium hydroxide is also used in conjunction with other drugs as an antacid to treat heartburn, acid reflux, and upset stomach. It improves the mechanical, fabrication, and welding characteristics of aluminum when used as an alloying agent.
For the purpose of analysis, the magnesium hydroxide market scope covers segment based on type, application, and region. The forms of magnesium hydroxide including, slurry, powder, and others are analyzed in the report. The use of magnesium hydroxide in various applications, including wastewater treatment, flue-gas desulphurisation, flame retardant, pharmaceutical, food additive, and others are analyzed in the report. Moreover, it analyzes the current market trends of magnesium hydroxide across different regions, such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
In addition, the report covers profiles of key industry participants such as Albemarle Corporation, Elementis, Huber Engineered Materials, Kisuma Chemicals B.V, Konoshima Chemical Co, Kyuwa Chemicals, Loba Chemie Pvt. Ltd, Martin Marietta Materials Ltd, Nedmag B.V, Osian Marine Pvt Ltd, Premier Magnesia LLC, Tateho Chemicals Industries Co. Ltd, TIMAB Magnesium, Ube Materials Industries Ltd., and Xinyang Mineral Group. These players have been adopting various strategies to gain higher share or to retain leading positions in the market. For instance, in 2022, Huber Engineered Materials completed acquisition of MAGNIFIN. MAGNIFIN products are sold globally by Martinswerk GmbH as part of the HEM Fire Retardant Additives (FRA) strategic business unit, which produces a wide range of halogen-free fire retardants, smoke suppressants, and specialty aluminum oxides.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the magnesium hydroxide market analysis from 2021 to 2031 to identify the prevailing magnesium hydroxide market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the magnesium hydroxide market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global magnesium hydroxide market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Form
- Slurry
- Powder
- Others
By Application
- Wastewater Treatment
- Flue-Gas Desulphurisation
- Flame Retardant
- Pharmaceutical
- Food Additive
- Others
By Region
- North America
- U.S.
- Cana
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest Of Europe
- Asia-Pacific
- India
- South Korea
- China
- Japan
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest Of LAMEA
Key Market Players
- 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
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MAGNESIUM HYDROXIDE MARKET, BY FORM
CHAPTER 5: MAGNESIUM HYDROXIDE MARKET, BY APPLICATION
CHAPTER 6: MAGNESIUM HYDROXIDE MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Magnesium Hydroxide Market," the magnesium hydroxide market size was valued at $0.6 billion in 2021, and is estimated to reach $1.1 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.Magnesium hydroxide decreases stomach acid and raises water in the intestines, perhaps causing bowel motions. Magnesium hydroxide occurs naturally as the mineral brucite, as a result of the hydration of magnesium oxide, and as a result of the precipitation of seawater or brine.
The growth of the global magnesium hydroxide market is majorly attributed to its wide applications in environmental protection, flame retardant, pharmaceutical ingredient, and others. Magnesium hydroxide is used across many applications, such as environmental protection, flame retardant, pharmaceutical ingredient, and others. Magnesium hydroxide is an inorganic alkaline chemical that occurs naturally in the form of a mineral (brucite). It is also generated during the precipitation process between magnesium salt and any substance's hydroxide (sodium, potassium, and ammonium). Magnesium hydroxide has found widespread application in the treatment of industrial metal-laden acidic wastewater. It is also used to treat occasional constipation in children and adults on a short-term basis. It is used in fuel additives, pulp bleaching, leather, abrasives, and others. It is also utilized in the production of ceramics, salts, culinary additives, and lubricating lubricants. It improves the mechanical, fabrication and welding characteristics of aluminum when used as an alloying agent. Magnesium hydroxide provides flame retardance and smoke suppression from a material that is acid and halogen-free and has minimal toxicity. Magnesium hydroxide slurry has been successfully used in aerobic and anaerobic biological treatment systems in meat processing plants, bakeries, and chemical processing plants.
Further, the growth of the pharmaceutical industry is predicted to drive the market growth during the forecast period. Magnesium hydroxide is a short-term treatment for diarrhea in children and adults. Magnesium hydroxide is also used as an antacid with other medications to relieve heartburn, acid indigestion, and upset stomach. Other medicines, such as dasatinib, delavirdine, atazanavir, gabapentin, digoxin, mycophenolate, and phosphate supplements, can be inhibited by magnesium hydroxide. They can also be used to treat these symptoms in individuals suffering from peptic ulcers, gastritis, esophagitis, hiatal hernia, or an excess of acid in the stomach.
However, availability of the substitute is projected to hinder the expansion of the market. Lime slurry and caustic soda are the available substitutes for magnesium hydrochloride in the market. Nevertheless, surge in demand for magnesium hydroxide in the steel industry is expected to offer lucrative growth opportunities for the global magnesium hydroxide industry. In the iron and steel industry, small quantities of magnesium are added to white cast iron to transform graphite into spherical nodules, thereby significantly improving the strength and malleability of the iron. The increasing use of magnesium hydroxide in the steel industry as a refractory brick that is fertilized with carbon to provide corrosion resistance is creating a market opportunity. Magnesium is also demanded in manufacture of high grade steel for constructions, such as large buildings and bridges.
The magnesium hydroxide market is segmented into type, application and region. On the basis of type, the market is categorized into slurry, powder, and others. On the basis of application, the market is categorized into wastewater treatment, flue-gas desulphurisation, flame retardant, pharmaceutical, food additive, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The magnesium hydroxide market share is analyzed across all significant regions and countries. Asia-Pacific is expected to dominate the market in 2021. This growth is due to wide use of magnesium hydroxide as a short-term treatment for occasional constipation in children and adults, as well as an antacid with a gradual neutralizing activity and a modest laxative action.
The major players operating in the global magnesium hydroxide market include, Albemarle Corporation, Elementis, Huber Engineered Materials, Kisuma Chemicals B.V, Konoshima Chemical Co, Kyuwa Chemicals, Loba Chemie Pvt. Ltd, Martin Marietta Materials Ltd, Nedmag B.V, Osian Marine Pvt Ltd, Premier Magnesia LLC, Tateho Chemicals Industries Co. Ltd, TIMAB Magnesium, Ube Materials Industries Ltd., and Xinyang Mineral Group. These players have been adopting various strategies to gain higher share or to retain leading positions in the market. Expansion, innovation, acquisition, and collaboration are the most adopted strategies by these players. For instance, in January 2022, Huber Engineered Materials (HEM) completed acquisition of MAGNIFIN Magnesiaprodukte GmbH & Co. KG (“MAGNIFIN”). MAGNIFIN products are sold globally by Martinswerk GmbH as part of the HEM Fire Retardant Additives (FRA) strategic business unit, which manufactures an extensive range of halogen-free fire retardants, smoke suppressants and specialty aluminum oxides. MAGNIFIN coated and uncoated magnesium hydroxides are environment friendly, halogen-free fire retardants, used in a wide range of polymer applications, primarily thermoplastic materials and elastomers requiring high processing temperatures in excess of 300 °C.
COVID-19 Analysis
The COVID-19 pandemic had a major impact on the global magnesium hydroxide market. It negatively impacted the supply of electronics gadget as a flame retardant as well as the import and export of chemicals. However, magnesium hydroxide are highly demanded in the pharmaceutical industry for short-term treatment for occasional constipation in children and adults, as well as an antacid with a gradual neutralizing activity and a modest laxative action. Further, increasing levels of magnesium may help COVID-19 patients successfully combat the virus. Thus, the growing demand from pharmaceutical sector is predicted to drive the global magnesium hydroxide market during the pandemic.Key findings of the study:
- A comprehensive magnesium hydroxide market analysis of the factors that drive and restrain the market growth is provided.
- The report outlines the current global magnesium hydroxide market trends and future scenario of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets.
- The global magnesium hydroxide market size is provided in terms of revenue.
- By type, the slurry segment was the highest revenue contributor to the market in 2021
- By application, the wastewater treatment segment is expected to grow at a CAGR of 5.6%, in terms of revenue, during the forecast period.
- Region-wise, Asia-Pacific was the highest revenue contributor and is estimated to grow with a CAGR of 6.7%.
- China was the highest revenue contributor growing with a CAGR of 7.3%.
- South Korea and Japan are expected to witness considerable CAGRs of 5.8%, and 4.2% respectively, during the forecast period.
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 281 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 0.6 billion |
| Forecasted Market Value ( USD | $ 1.1 billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
