Magnesium Carbonate Minerals Market

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

  • 2020-04-24
  • REP-GB-11455
  • 32 Tables
  • 118 Figures
  • 223 pages
  • Format: PDF/PPT/Excel
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Magnesium Carbonate Minerals Market to Witness 5% CAGR through 2030

Rise in the number of fire casualties has triggered several prominent industries across the globe to introduce stringent fire safety guidelines and regulations as a proactive measure to prevent fire outbreaks and accidents. Moreover, treating the spillover of hazardous chemicals is imperative in the chemical sector. Magnesium carbonate minerals, backed by their excellent retardant and absorbent attributes, easily fit into these applications. Over the decade ahead, global consumption of magnesium carbonate minerals will expand at a healthy pace - 5% CAGR.  

Magnesium Carbonate Minerals Market - Key Research Findings

  • 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.

KEY FACTORS SHAPING MAGNESIUM CARBONATE MINERALS MARKET

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.

Magnesium Carbonate Minerals Market: Structure Analysis

  • 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.  

Report Metrics

Details

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.

Magnesite maintains its preference

Hydromagnesite to gain momentum

High consumption in pharmaceutical & personal care industry

Chemical industry to generate relevant returns

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.

Magnesium Carbonate Minerals Market by End Use, 2020 (E)

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

A recent market study published by FMI on the magnesium carbonate minerals market includes global industry analysis of 2015-2019 and opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historic as well as current growth parameters of the magnesium carbonate minerals market, growth prospects of the market are obtained with maximum precision.

Magnesium Carbonate Minerals Market Taxonomy

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

What's Included

The report begins with the executive summary of the magnesium carbonate minerals market, which includes summary of key statistics and findings of the market. It also includes the supply and demand-side trends related to the magnesium carbonate minerals market.

Readers can find the definition and a detailed taxonomy of the magnesium carbonate minerals market in this chapter, which will help them understand the basic information about the magnesium carbonate minerals market. Along with this, comprehensive information pertaining to magnesium carbonate minerals and their properties are provided in this section. This section also highlights the inclusions and exclusions, which helps readers understand the scope of the report.

The magnesium carbonate minerals market report provides key market trends that are projected to considerably impact the market growth during the forecast period. Detailed industry trends are also offered in this section.

This section includes key success factors and strategies adopted by key market players.

This section explains the global market volume analysis and forecast for the magnesium carbonate minerals market during the forecast period of 2020-2030. This chapter also includes a detailed analysis of the historical market.

In this section, pricing analysis of the magnesium carbonate minerals market by mineral form at the regional level has been provided.

This section explains the global market value analysis and forecast for the magnesium carbonate minerals market during the forecast period of 2020-2030. This chapter provides a detailed analysis of the historical magnesium carbonate minerals market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020-2030).

This chapter explains the key macro-economic factors that are projected to influence the growth of the magnesium carbonate minerals market during the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, forecast and relevance factors, and value chain analysis for the magnesium carbonate minerals market. Moreover, in-depth information about the market dynamics and impact analysis on the market have been provided in the successive section.

On the basis of mineral form, the magnesium carbonate minerals market is segmented into magnesite, hydromagnesite, and nesquehonite. In this chapter, readers can find information about the key trends and developments in the magnesium carbonate minerals market and market attractiveness analysis based on mineral form.

On the basis of end use, the magnesium carbonate minerals market is segmented into pharmaceutical & personal care, refractory bricks & kilns, steel & metallurgy, ceramics, building & flooring materials and chemicals. In this chapter, readers can find information about the key trends and developments in the magnesium carbonate minerals market and market attractiveness analysis based on end use.

This chapter explains how the magnesium carbonate minerals market will grow across various geographic regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa (MEA).

This chapter includes a detailed analysis of the growth of the North America magnesium carbonate minerals market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis and market growth based on mineral form and end use in North America.

This chapter provides the growth scenario of the magnesium carbonate minerals market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.

Important growth prospects of the magnesium carbonate minerals market based on its end use in several countries such as Germany, Italy, the U.K., France, Spain, Russia, BENELUX, and the Rest of Europe, are included in this chapter.

This chapter highlights the growth of the magnesium carbonate minerals market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers to understand the key factors that are responsible for the growth of the market in East Asia

India, Indonesia, Thailand, Malaysia, and the Rest of South Asia are the prominent countries in the South Asia region that are the prime subjects of assessment to obtain the growth prospects of the South Asia magnesium carbonate minerals market. In this chapter, readers can find detailed information about the growth parameters of the South Asia Pacific market during the forecast period of 2020-2030.

This chapter provides information about how the magnesium carbonate minerals market is expected to grow in major countries in the MEA region, such as GCC Countries, South Africa, Northern Africa, Turkey, and the Rest of MEA, during the forecast period of 2020-2030

This chapter provides information about how the magnesium carbonate minerals market is anticipated to grow in major countries of the Oceania region such as Australia and New Zealand, during the forecast period of 2020-2030.

In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the magnesium carbonate minerals market, along with their market presence analysis by region and product portfolio.

In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the magnesium carbonate minerals market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Konoshima Chemical Co., Ltd., Naikai Salt Industries Co., Hebei Meishen Technology Co., Ltd, Kyowa Chemical Industry Co., Ltd., and Yingkou Magnesite Chemical, among others.

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the magnesium carbonate minerals market report.

This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the magnesium carbonate minerals market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Product Managers 
  • Business Development Officers 
  • Production Managers
  • Procurement Heads
  • Sales Executives
  • Distributors
  • Traders 
  • Raw Material Suppliers
  • Industry Experts
  • End Users
  • Current market dynamics and challenges
  • Yesteryear trends 
  • Market characteristics
  • Market performance and growth quadrants
  • Competition structure and market structure
  • Strategic growth initiatives
  • Near-term and long-term market growth prospects
  • Market segment splits and authenticity
  • Opinions on market projections and validity of assumptions

Secondary Research

  • Industry Publications
  • Industry Associations
  • Factiva
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications
  • Trade Websites

Primary Interview Splits

Primary Interview Splits magnesium carbonate minerals market designation

Primary Interview Splits magnesium carbonate minerals market stakeholder

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