Magnesium Carbonate Minerals Market

2020 Analysis and Review of Magnesium Carbonate Minerals Market by Mineral Form - Magnesite, Hydromagnesite, and Nesquehonite for 2020- 2030


  • The global magnesium carbonate minerals market will expand at a CAGR of 5% over 2020-2030.
  • The market is witnessing a demand upswing from various end-use sectors for refractory applications.
  • Magnesite remains the preferred mineral form; hydromagnesite to gain gradual traction.
  • Manufacturers continue to invest in pharmaceutical and personal care industries; refractory bricks & kilns to offer increasing scope of application.
  • East Asia would remain at the driver’s seat in the magnesium carbonate minerals market; North America and Europe in a neck-and-neck race with each other.


Growing Demand from Chemical Industry

The chemical industry requires magnesite for producing magnesium sulphate, owing to the absorbent property of magnesite that makes it useful for the spill cleanup of hazardous chemicals. It is also used to treat industrial wastewater containing heavy metals and silica. Around 84% of magnesium chemicals are derived from magnesite. As such, this demand upsurge in the chemical industry is expected to follow a positive trend in the coming years, which, in turn, will fuel the growth of the magnesium carbonate minerals market.

The chemical industry is facing the impact of the coronavirus (COVID-19) pandemic from all directions. While the pandemic is resulting in ruptured supply chains in prominent regions, demand is likely to falter due to uncertainty in the global economy and capital markets.

Chemical manufacturers across the globe are halting their operations, both, to avoid workers from contracting the coronavirus and to address the decreased demand from businesses and consumers amidst nationwide lockdowns. The chemical industry is among the key contributors to the magnesium carbonate minerals market; thus, the COVID-19 pandemic is hampering the market value pool.

Magnesium-ion Batteries a Viable Candidate for Large-scale Energy Storage

Magnesium batteries are gaining attention as an alternative to lithium-ion batteries. The capacity of magnesium-ion batteries is 5-10 times higher than that of lithium-ion batteries, as magnesium, as an anode, provides two electrons per atom. In sync with the global trend of sustainability, the growth of the electronic vehicle industry is expected to drive the demand for magnesium-ion batteries, which, in turn, will drive the magnesium carbonate minerals market.

Compared to lithium-ion batteries, which are inefficient below -15°C, magnesium batteries can work at temperatures of -30°C. Thus, OEM manufacturers are accelerating their shift towards magnesium-ion batteries.

Increasing Penetration of Magnesium Alloys in Automotive & Aerospace Industry

Magnesium carbonate minerals are used as a raw material for the production of magnesium and its alloys. Magnesium alloys are gaining popularity in automotive and aerospace applications, given their stiffness, strength, and lightweight attributes. Increasing adoption of magnesium alloys in the automotive industry for weight reduction, to improve vehicle performance and to meet emission standards, is expected to bode well for the magnesium carbonate minerals market.

Due to their low cost and high strength, magnesium alloys are finding immense use in the defense sector. High specific damping capacity and enhanced shock mitigation & energy absorption properties of magnesium alloys make them a suitable choice for ballistic and armor applications. Furthermore, increasing adoption of magnesium alloys in dicer applications is expected to propel the growth of the magnesium carbonate minerals market.


  • The magnesium carbonate minerals market is highly fragmented, with top 10 players capturing around 30% revenue share.
  • Leading manufacturers are focusing on expanding their business footprint by enchaining production capacities and acquisitions.
  • Players are also increasingly investing in R&D activities as a differentiating strategy.  


  • Base Year - 2019
  • Historical Period - 2015-2019
  • Forecast Period - 2020-2030
  • Market Value in 2019 - US$ 199.3 Mn
  • Segments Covered - Mineral Form, End Use, and Region
  • Regions Covered - North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa
  • Key Companies - Konoshima Chemical Co. Ltd., Naikai Salt Industries Co., Hebei Meishen Technology Co. Ltd., Kyowa Chemical Industry Co. Ltd., and Yingkou Magnesite Chemical
  • Growth Drivers
    • High demand from pharmaceutical, chemical, and personal care industries
    • Extensive adoption in producing magnesium oxide
    • Increasing penetration of magnesium alloys in the automotive & aerospace industry
    • Emergence of magnesium-ion batteries for solar energy storage

Preference for Magnesite Stays Intact

Magnesite or magnesium carbonate (MgCO3) is utilized in producing magnesium oxide (MgO), which serves as a refractory material in steel and cement industries, and as a raw material for the chemical industry. Moving ahead, hydromagnesite, which exhibits distinct retardant properties, and, as such, is becoming commonplace as a flame retardant or fire retardant additive in a broad array of polymers such as polypropylene (PP) and polyvinyl chloride (PVC). Both these magnesium carbonate minerals are representing identical annual growth rates, yet, market players would glean substantial value from magnesite.

East Asia Continues to Attract Greater Investments

Manufacturers continue to invest in East Asia, owing to top-line growth of pharmaceutical and personal care industries, and the presence of chemical manufacturing hubs such as China. The magnesium carbonate minerals market in East Asia is characterized by intense competition, due to the high concentration of local manufacturers in the region.

Easy availability of raw materials and cheap labour are further influencing market players to stay glued to East Asia. Furthermore, North America and Europe are leading consumers of magnesium carbonate minerals, with the U.S., the Netherlands, and Spain leading the pack. 

Magnesium-ion Batteries Emerging as Viable Option for Energy Storage

Magnesium-ion batteries deliver capacity 5-10 times higher versus lithium-ion batteries, since magnesium, as an anode, provides two electrons per atom. As sustainability is sweeping the automotive industry, booming production and adoption of electric vehicles (EVs) are translating to increased demand for magnesium-ion batteries, and thus, will propel the magnesium carbonate minerals market. In addition, magnesium-ion batteries operate in a wider temperature range as compared to lithium-ion batteries. These advantages are bringing them to the attention of OEMs.

How Growth will Unfold

Magnesium carbonate minerals are finding application in pharmaceutical and personal care industries as a bulking agent, absorbent, pH adjuster, and binder. Evolving consumer expectations and rising inclination towards health-centric products are driving pharmaceutical and personal care industries.

Over one-third of total magnesium carbonate minerals market revenue would be realized by these end-use industries over the decade ahead. In similar fashion, magnesium carbonate minerals are also making inroads in the chemical industry. FMI finds that, around 80% of magnesium chemicals are derived from magnesite.


The global magnesium carbonate minerals market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Mineral Form

  • Magnesite
  • Hydromagnesite
  • Nesquehonite

End Use

  • Pharmaceuticals & Personal Care
  • Refractory Bricks & Kilns
  • Steel & Metallurgy
  • Ceramics
  • Building & Flooring Materials
  • Chemicals
    • Plastics
    • Fertilizers
    • Flame Retardant Additives
    • Adhesives & Sealants
    • Paints
    • High Purity Magnesia
  • Others

Need specific information?

In the news

How Businesses Can Utilize Market Research to Create Reactive, Recession-proof Strategies for Survival

by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights

Talk Show:

The Rise of Intelligent Packaging

Personalized, Connected and Sustainable

November 18, 2021 11:00-11:45 AM PST (USA & Canada)
This is a LIVE session
Future Market Insights MarketNgage Spring

Our Clients

View Our Reports from Chemicals & Materials

View Reports


Magnesium Carbonate Minerals Market