[240 Pages Report] The global magnesium carbonate market was valued at around US$ 267.3 Million in 2021, registering Y-O-Y growth of 4.4%. Magnesium carbonate sales are projected to increase at a CAGR of 4.7% by 2032.
Growing demand for magnesium carbonate which is widely used in the production of magnesium oxide, personal care & cosmetics, and pharmaceuticals is expected to drive the magnesium carbonate market.
| Attribute | Details |
|---|---|
| Magnesium Carbonate Market Base Year Value (2021A) | US$ 267.3 Million |
| Estimated Year Value (2022E) | US$ 279.5 Million |
| Projected Year Value (2032F) | US$ 443.5 Million |
| Value CAGR (2022 to 2032) | 4.7% |
| Collective Value Share: Top 3 Countries Worldwide (2022E) | 43.6% |
According to the latest research published by Future Market Insights (FMI), global magnesium carbonate market is anticipated to hold more than 5% - 7% of the market share in the overall magnesium carbonate market.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.4% |
| H1,2022 Projected (P) | 4.1% |
| H1,2022 Outlook (O) | 4.0% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 10 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 40 ↓ |
Future Market Insights has reviewed market dynamics and industry trends to estimate the recent growth prospects of the magnesium carbonate minerals market on half yearly basis. The market is principally subjected to significant development in construction and mining industry along with growing demand for minerals in certain key end use industries.
Magnesium carbonate is a key raw material used in the manufacture of magnesium oxide. It is anticipated that the expansion of the steel and cement sectors would increase demand for magnesium oxide as a refractory material, which will then increase demand for magnesium carbonate.
According to FMI analysis, the magnesium chloride market is expected to grow at a CAGR of 4.1% in H1, 2022 projected as compared to a corresponding actual CAGR of 4.4% in H1, 2021.
However, the H1, 2022 Outlook shows that the market for magnesium carbonate will increase at a rate of 4.0% CAGR. The main reason behind this growth rate is attributed to the growing demand for magnesium carbonate as a flame retardant and as a filler in the plastics and rubber industries.
Magnesium carbonate is used as a raw material for the production of magnesium and its alloys. Key characteristics of magnesium alloys includes low cost, high strength, and a light weight due to which they are being adopted in the automotive, aerospace, and defence industry.
Additionally, magnesium carbonate is utilized as a flattening agent, rheological modifier, and translucent filler in the paints and inks industry, and provides many properties in key end-use industries.
Key manufacturers players are focusing on adopting alternative distribution channels, to strengthen their market presence, further they are enhancing their connectivity in the regions with lower presence to increase their consumer base.
The demand for magnesium carbonate grew at 0.8% CAGR between 2017 and 2021. Increasing regulation in the plastics and polymer industry has impeded the demand for magnesium carbonate. Based on consumption patterns, the demand for magnesium carbonate has witnessed significant growth over the past few years.
Sales of magnesium carbonate are expected to increase during the assessment period at a 4.7% CAGR. The extensive use of magnesium carbonate in pharmaceuticals, personal care & cosmetics, and for the production of magnesium oxide will continue propelling demand in the market.
Principal Consultant
According to a journal published by MDPI, the global pharmaceutical market has grown dramatically. In 2019, the market was worth over US$ 1.25 trillion, as compared to US$ 390 billion in 2001. Magnesium carbonate is used as an antacid and laxative. It is one of the many salts of magnesium used clinically.
This anhydrous salt magnesite-based substance is widely used as a filler in antacid tablets, capsules, and a variety of other pharmaceutical medications.
According to FMI, the antacid market is expected to grow at a robust CAGR of 5.2% during the forecast period. In terms of value, sales of magnesium carbonate in the pharmaceutical segment are estimated to grow with a CAGR of 4.3% from 2022 to 2032.
The adoption of magnesium carbonate in the cosmetic and personal care industry as an absorbent, bulking agent, binder, and pH adjuster is fueling sales in the market. Personal care & cosmetics is a vital market for magnesium carbonate as it is utilized in the manufacturing of a wide range of personal care products, including talcum powders, sunscreens, and soaps.
Sales of magnesium carbonate in the personal care & cosmetics segment are anticipated to create an incremental opportunity of US$ 19.1 Mn during the forecast period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Magnesium carbonate is used as a raw material for the production of magnesium and its alloys. Magnesium alloys are gaining popularity for their applications in automotive and aerospace applications due to their stiffness, strength, and lightweight. Increasing adoption of magnesium alloy in the automotive industry for weight reduction, to improve vehicle performance, and to meet emission standards will drive sales in the market.
Further, due to its low cost, high strength, and light weight, magnesium alloy is being adopted in the defense industry. Also, the high damping capacity and enhanced shock mitigation & energy absorption properties of magnesium alloy make it a suitable choice for ballistic and armor applications.
Magnesium carbonate is significantly used as a raw material for the production of magnesium oxide. The growth in the steel and cement industries is expected to drive the demand for magnesium oxide as a refractory material, which in turn will boost the demand for magnesium carbonate.
Additionally, magnesium carbonate is utilized as an antacid in pharmaceuticals, as a flattening agent, rheological modifier, and translucent filler in the paints and inks industry, and provides many properties in multiple end-use industries.
Although magnesium carbonate is considered non-toxic and intake of magnesium carbonate in a small amount in food is not likely to have any side effects, but it may cause some side effects when used as a supplement or medication. These side effects include diarrhea, flatulence, nausea, and hypomagnesemia, among others. The tolerable intake level of magnesium supplements in the body is 350 milligrams per day, and high doses may lead to magnesium toxicity.
One of the main applications of magnesium carbonate is as a flame retardant agent and as a filler in the rubber industry where it is used to achieve specific properties. However, the availability of alternative materials is hampering the growth of the magnesium carbonate market.
For instance, magnesium hydroxide is preferred as a flame retardant over magnesium carbonate in the rubber industry. Within the ceramic industry, magnesium carbonate is substituted by dolomite and talc as they are more affordable than magnesium carbonate.
“Manufacturers in the U.S. are Preferring Magnesium Carbonate Powder for Various Applications”
The U.S. is expected to remain one of the leading markets in North America for magnesium carbonate. Total sales in the U.S. market are expected to reach about US$ 60.8 Mn by the end of the forecast period, growing at a CAGR of 4.5%.
In 2020, according to a study, North America accounted for 49.0 percent of global pharmaceutical revenues, while Europe accounted for 23.9 percent. According to IQVIA (MIDAS April 2021), 63.7 percent of new drugs introduced between 2015 and 2020 were sold in the U.S., as compared to 17.4 percent in Europe. Whereas demand from the pharmaceutical and health care industry is anticipated to bolster the magnesium carbonate market in the U.S.
“Growing Demand for Magnesium Carbonate Supplements Will Boost Growth”
In China's economy, the mining industry is quite significant. China is the world's largest producer of steel, coal, zinc, magnesium, tin, and other minerals. According to OEC in 2020, china exported US$ 632 Mn in magnesium carbonate, making it the first largest exporter of magnesium carbonate in the world. China is expected to create a significant incremental dollar opportunity for magnesium carbonate during the forecast period.
“Demand for Light Magnesium Carbonate is Anticipated To Augment Growth”
Based on type, the light magnesium carbonate is estimated to account for 68.8% of the total market share in 2022. Sales of light magnesium carbonate type are expected to increase has increased with Y-O-Y of 4.7% in the year 2022.
Light magnesium carbonate has extensive applications in various industries. It is mainly used in paints & inks, refractory materials, fire extinguishing agents, and as a packing and smoke inhibitor in the rubber and plastic industry.
It is also used during the production of glass, ceramics, and fertilizers. The growth of diverse end-use industries is expected to drive the growth in this segment.
“Incorporation of Magnesium Carbonate in the Plastic and Rubber Sector Will Remain High”
Magnesium carbonate acts as a reinforcing agent in plastic & rubber and is used for stuffing in rubber industries. It is used as a matte white coating for projection screens and stabilizer in automotive PVC plastisol. In the rubber industry, it is used as an alternative to starch. To provide whiteness and consistency of paper, magnesium carbonate is used as a coating agent and mineral filler in the paper industry.
Magnesium carbonate functions as a flattening agent, rheological modifier, and translucent filler in the paints and inks sector. It is used in concocted white paint to dilute printing ink and for the production of printing ink. Magnesium carbonate is preferably used in dry fire extinguishing powder composition, which is useful in combatting class C fires, i.e. electrical equipment fires.
Magnesium carbonate is also used in the production of glass, ceramics, and fertilizers, etc. It is increasingly used in fertilizers as a vital nutrient for the development of plants as it helps in activating enzymes.
Key magnesium carbonate manufacturers players in the market are focusing on adopting alternative distribution channels, such as the online channel, to strengthen their market presence. The majority of the leading players are focusing on providing the new and improved products whereas some manufacturers are focusing to expand their existing manufacturing sites. Some of the key developments are:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | US$ Million for Value and Tons for Volume |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Germany, Italy, France, The UK, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, and South Africa. |
| Key Segments Covered | Types, Application, End-Use & Region |
| Key Companies Profiled | Hebei Meishen Technology Co., Ltd; Konoshima Chemical Co., Ltd.; Kyowa Chemical Industry Co., Ltd.; Lehmann & Voss & Co. KG; Naikai Salt Industries Co., Ltd.; NUOVA SIMA Srl.; OSIAN MARINE CHEMICALS PVT. LTD; Buschle & Lepper S.A. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The magnesium carbonate market is anticipated to reach a valuation of US$ 279.5 Mn in 2022.
The magnesium carbonate market is anticipated to witness a growth rate of 4.7% over the forecast period of 2022 and 2032 in terms of value.
The magnesium carbonate market witnessed growth at a 0.8% CAGR between 2017 and 2021.
Hebei Meishen Technology Co., Ltd, Konoshima Chemical Co., Ltd., Kyowa Chemical Industry Co., Ltd., Lehmann & Voss & Co. KG, Naikai Salt Industries Co., Ltd., Dr. Paul Lohmann GmbH KG, NUOVA SIMA Srl. and others are the leading players in the market.
The top countries driving the magnesium carbonate demand are China, the U.S., and India.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product innovation & Diversification 4.3. Marketing and Brand management 4.4. Supply Chain Management 5. Global Magnesium Carbonate Market Demand Analysis 2017-2021 and Forecast, 2022-2032 5.1. Historical Market Volume (Mn Tons) Analysis, 2017-2021 5.2. Current and Future Market Volume (Mn Tons) Projections, 2022-2032 5.3. Y-o-Y Growth Trend Analysis 6. Global Magnesium Carbonate Market - Pricing Analysis 6.1. Regional Pricing Analysis 6.2. Pricing Analysis by Regions 7. Global Magnesium Carbonate Market Demand (in Value or Size in US$ Mn) Analysis 2017-2021 and Forecast, 2022-2032 7.1. Historical Market Value (US$ Mn) Analysis, 2017-2021 7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Macro-Economic Factors 8.2. Forecast Factors - Relevance & Impact 8.3. Supply-Demand Analysis 8.4. Value Chain 8.5. Market Dynamics 8.6. Impact of COVID – 19 Crisis 9. Global Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032, by Type 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) and Volume Analysis By Type, 2017 - 2021 9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Type, 2022 - 2032 9.3.1. Light Magnesium Carbonate 9.3.2. Heavy Magnesium Carbonate 9.4. Market Attractiveness Analyses, By Type 10. Global Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032, By Application 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Mn) and Volume Analysis By Application, 2017 - 2021 10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Application, 2022 - 2032 10.3.1. Antacid 10.3.2. Smoke Suppressant 10.3.3. Additive & Fillers 10.3.4. Drying Agent 10.3.5. Whitening Agent 10.3.6. Reinforcing Agent 10.4. Market Attractiveness Analysis By Application 11. Global Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032, By End Use 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Mn) and Volume Analysis By End Use, 2017 - 2021 11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By End Use, 2022 - 2032 11.3.1. Magnesium Oxide 11.3.2. Pharma 11.3.3. Personal Care & Cosmetics 11.3.4. Paints & Inks 11.3.5. Plastic & Rubber 11.3.6. Pulp & Paper 11.3.7. Fire Extinguishing Composition 11.3.8. Others 11.4. Market Attractiveness Analysis By End Use 12. Global Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032, by Region 12.1. Introduction 12.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2017 - 2021 12.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2022 - 2032 12.3.1. North America 12.3.2. Latin America 12.3.3. Europe 12.3.4. East Asia 12.3.5. South Asia & Pacific 12.3.6. Middle East & Africa 12.4. Market Attractiveness Analysis By Region 13. North America Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021 13.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032 13.4.1. By Type 13.4.2. By Application 13.4.3. By End Use 13.4.4. By Country 13.4.4.1. U.S. 13.4.4.2. Canada 13.5. Market Attractiveness Analysis 13.5.1. By Type 13.5.2. By Application 13.5.3. By End Use 13.5.4. By Country 13.6. Market Trends 13.7. Drivers and Restraints Impact Analysis 14. Latin America Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021 14.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032 14.4.1. By Type 14.4.2. By Application 14.4.3. By End Use 14.4.4. By Country 14.4.4.1. Brazil 14.4.4.2. Mexico 14.4.4.3. Rest of Latin America 14.5. Market Attractiveness Analysis 14.5.1. By Type 14.5.2. By Application 14.5.3. By End Use 14.5.4. By Country 14.6. Market Trends 14.7. Drivers and Restraints Impact Analysis 15. Europe Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021 15.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032 15.4.1. By Type 15.4.2. By Application 15.4.3. By End Use 15.4.4. By Country 15.4.4.1. Germany 15.4.4.2. Italy 15.4.4.3. France 15.4.4.4. U.K. 15.4.4.5. Spain 15.4.4.6. BENELUX 15.4.4.7. Russia 15.4.4.8. Rest of Europe 15.5. Market Attractiveness Analysis 15.5.1. By Type 15.5.2. By Application 15.5.3. By End Use 15.5.4. By Country 15.6. Market Trends 15.7. Drivers and Restraints Impact Analysis 16. East Asia Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021 16.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032 16.4.1. By Type 16.4.2. By Application 16.4.3. By End Use 16.4.4. By Country 16.4.4.1. China 16.4.4.2. Japan 16.4.4.3. South Korea 16.5. Market Attractiveness Analysis 16.5.1. By Type 16.5.2. By Application 16.5.3. By End Use 16.5.4. By Country 16.6. Market Trends 16.7. Drivers and Restraints Impact Analysis 17. South Asia & Pacific Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021 17.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032 17.4.1. By Type 17.4.2. By Application 17.4.3. By End Use 17.4.4. By Country 17.4.4.1. India 17.4.4.2. ASEAN 17.4.4.3. ANZ 17.4.4.4. Rest of South Asia & Pacific 17.5. Market Attractiveness Analysis 17.5.1. By Type 17.5.2. By Application 17.5.3. By End Use 17.5.4. By Country 17.6. Market Trends 17.7. Drivers and Restraints Impact Analysis 18. Middle East and Africa Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032 18.1. Introduction 18.2. Pricing Analysis 18.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021 18.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032 18.4.1. By Type 18.4.2. By Application 18.4.3. By End Use 18.4.4. By Country 18.4.4.1. GCC Countries 18.4.4.2. Turkey 18.4.4.3. Northern Africa 18.4.4.4. South Africa 18.4.4.5. Rest of Middle East and Africa 18.5. Market Attractiveness Analysis 18.5.1. By Type 18.5.2. By Application 18.5.3. By End Use 18.5.4. By Country 18.6. Market Trends 18.7. Drivers and Restraints Impact Analysis 19. Key and Emerging Countries Magnesium Carbonate Market Analysis 19.1. U.S. Magnesium Carbonate Market Analysis 19.1.1. By Type 19.1.2. By Application 19.1.3. By End Use 19.2. Canada Magnesium Carbonate Market Analysis 19.2.1. By Type 19.2.2. By Application 19.2.3. By End Use 19.3. Mexico Magnesium Carbonate Market Analysis 19.3.1. By Type 19.3.2. By Application 19.3.3. By End Use 19.4. Brazil Magnesium Carbonate Market Analysis 19.4.1. By Type 19.4.2. By Application 19.4.3. By End Use 19.5. Germany Magnesium Carbonate Market Analysis 19.5.1. By Type 19.5.2. By Application 19.5.3. By End Use 19.6. Italy Magnesium Carbonate Market Analysis 19.6.1. By Type 19.6.2. By Application 19.6.3. By End Use 19.7. France Magnesium Carbonate Market Analysis 19.7.1. By Type 19.7.2. By Application 19.7.3. By End Use 19.8. U.K. Magnesium Carbonate Market Analysis 19.8.1. By Type 19.8.2. By Application 19.8.3. By End Use 19.9. Spain Magnesium Carbonate Market Analysis 19.9.1. By Type 19.9.2. By Application 19.9.3. By End Use 19.10. Russia Magnesium Carbonate Market Analysis 19.10.1. By Type 19.10.2. By Application 19.10.3. By End Use 19.11. BENELUX Magnesium Carbonate Market Analysis 19.11.1. By Type 19.11.2. By Application 19.11.3. By End Use 19.12. China Magnesium Carbonate Market Analysis 19.12.1. By Type 19.12.2. By Application 19.12.3. By End Use 19.13. Japan Magnesium Carbonate Market Analysis 19.13.1. By Type 19.13.2. By Application 19.13.3. By End Use 19.14. S. Korea Magnesium Carbonate Market Analysis 19.14.1. By Type 19.14.2. By Application 19.14.3. By End Use 19.15. India Magnesium Carbonate Market Analysis 19.15.1. By Type 19.15.2. By Application 19.15.3. By End Use 19.16. ASEAN Magnesium Carbonate Market Analysis 19.16.1. By Type 19.16.2. By Application 19.16.3. By End Use 19.17. GCC Countries Magnesium Carbonate Market Analysis 19.17.1. By Type 19.17.2. By Application 19.17.3. By End Use 19.18. Turkey Magnesium Carbonate Market Analysis 19.18.1. By Type 19.18.2. By Application 19.18.3. By End Use 19.19. Northern Africa Magnesium Carbonate Market Analysis 19.19.1. By Type 19.19.2. By Application 19.19.3. By End Use 19.20. South Africa Magnesium Carbonate Market Analysis 19.20.1. By Type 19.20.2. By Application 19.20.3. By End Use 20. Market Structure Analysis 20.1. Market Analysis by Tier of Companies [Magnesium Carbonate] 20.2. Market Concentration 20.3. Market Share Analysis of Top Players 20.4. Production Capacity Estimates of Top Players 20.5. Market Presence Analysis 21. Competition Analysis 21.1. Competition Dashboard 21.2. Primary Survey Analysis 21.3. Competition Deep Dive 21.3.1. Hebei Meishen Technology Co. Ltd 21.3.1.1. Overview 21.3.1.2. Product Portfolio 21.3.1.3. Key Financials 21.3.1.4. Sales Footprint 21.3.1.5. Strategy Overview 21.3.2. Naikai Salt Industries Co. LTD 21.3.3. NUOVA SIMA Srl 21.3.4. Celtic Chemicals Ltd. 21.3.5. Konoshima Chemical Co.,Ltd 21.3.6. Lehmann & Voss & Co. 21.3.7. Gee Gee Kay Pvt Ltd. 21.3.8. Buschle & Lepper S.A. 21.3.9. Kyowa Chemical Industry Co., Ltd. 21.3.10. OSIAN MARINE CHEMICALS PVT. LTD 21.3.11. Dr. Paul Lohmann GmbH KG 21.3.12. Israel Chemicals Ltd 22. Assumptions and Acronyms Used 23. Research Methodology
Explore Chemicals & Materials Insights
View Reports
Magnesium Carbonate Market
