Demand for Magnesium Hydroxide Grows Steady despite COVID-19 Pandemic; Application in Wastewater Treatment Key Growth Lever: FMI
Consistently increasing demand for magnesium hydroxide for wastewater treatment is expected to shape the growth of the global magnesium hydroxide market during the forecast period (2020-2030). Although the COVID-19 pandemic is likely to hinder market growth during the first half of the forecast period, the global magnesium hydroxide market is projected to attain a market value of US$ 850 Mn by the end of 2030. As per the latest study published by Future Market Insights (FMI), the COVID-19 pandemic is likely to have a short-term impact on the growth prospects of the global magnesium hydroxide market.
Magnesium Hydroxide Market
The newest market report published by FMI on the global magnesium hydroxide market compris...
At present, applications of magnesium hydroxide extend beyond wastewater treatment, as it is being increasingly being used for an array of applications including gold mining, warehouses, antacid, thermal conduction, and the wet pallet collodion process among others.
Key Takeaways of Magnesium Hydroxide Market
- Magnesium hydroxide emerges as an ideal substitute for lime and caustic soda in wastewater treatment
- Brine/seawater precipitation would remain the most prominent manufacturing process due to its long-term economic benefits
- Soaring demand for technical/industrial grade magnesium hydroxide expected to provide impetus to market growth
- South Asia and East Asia remain in the vanguard in terms of market growth; key market players likely to focus on tapping onto the opportunities in these regions
- Surge in demand for environmental applications will assist market growth. Widening applications in the chemical sector will provide a boost to the market growth
Over the past few decades, magnesium hydroxide has emerged as an ideal inorganic compound for environmental applications including flue gas desulphurization and wastewater treatment. This remains a strong factor contributing towards market growth.
High Demand for Wastewater Treatment Projected to Augment Market Growth
Over the past couple of decades, magnesium hydroxide is increasingly being used for wastewater treatment applications across the developed as well as the developing regions. As governments across the world continue to emphasize on improving wastewater treatment techniques, magnesium hydroxide has emerged as an ideal candidate. At present, due to the advantages presented by magnesium hydroxide slurry, its adoption is projected to outpace that of lime and caustic soda.
In addition, apart from being an ideal alternative for wastewater treatment, magnesium hydroxide is extensively being used for acid neutralization of industrial wastewater. As the industrial applications of magnesium hydroxide expand, the industrial-grade magnesium hydroxide will gain stronger traction to capture a higher revenue share in the global market.
Short-term Ramifications of COVID-19 Pandemic
FMI study states that the COVID-19 pandemic is expected to have a short-term impact on the overall growth prospects of the global magnesium hydroxide market. The market study predicts that the demand will remain sluggish during the coronavirus outbreak as the governments across the world continue to enforce trade restrictions due to which, market players are expected to address the supply chain challenges put forward by the crisis.
Know More About FMI’s Magnesium Hydroxide Market Report
Magnesium hydroxide study published by Future Market Insights offers resourceful insights related to the growth trajectory of the magnesium hydroxide market during the forecast period (2020-2030) on basis of application (environmental, pharmaceutical, flame retardant, chemicals & others), grade (food/pharma and technical/industrial) across the most prominent regions worldwide.
For additional insights on how the market growth will unfold over the period of assessment, write to [email protected]
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
- Apac Flexible Glass Market
- Global Biobased Biodegradable Plastics Market
- Global Bio Plastics Market
- Bric Automotive Plastics Market
- Europe Advanced Aerospace Coatings Market
- India Construction Chemical Market
- Global Biophotonics Market
- Global Antimicrobial Additives Market
- Global Pearlescent Pigment Market
- Global Adsorbents Market
- Global Barite Market
- Global Polyvinyl Chloride Market
- Global Corrosion Protective Coatings Market
- Global Mining Flotation Chemicals Market
- Silica Sand Market For Glass Making