An Incisive, In-depth Analysis on the Magnesium Hydroxide Market
This study offers a comprehensive, 360 degree analysis on the Magnesium Hydroxide market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Magnesium Hydroxide market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Magnesium Hydroxide Market Overview & Key Highlights
- The global magnesium hydroxide market will register revenue worth around US$ 1.5 Bn in 2030
- Stricter fire safety guidelines and regulations due to growth in fire accidents at workplaces would be the driving factor for market growth
- Magnesium hydroxide is rapidly replacing caustic soda in wastewater treatment facilities
- Ban on usage of halogenated flame retardants is auguring well for magnesium hydroxide market
- APAC would maintain its primacy, owing to presence of chemical manufacturing hubs
Magnesium Hydroxide Market - A Vital Component in Industrial Workplaces
Magnesium hydroxide is witnessing strong demand from several end-use sectors for preventing fire casualties and accidents. Several countries are shifting towards fossil fuel-based power plants, as such, translating into greater demand for magnesium hydroxide for desulphurization application. Going forward, the inorganic compound is a vital component in antacids and laxatives. Generally produced as a chewable tablet, liquid suspension, and capsules as liquid syrups in various flavors, magnesium hydroxide is also used as antiperspirant underarm deodorant. By 2030, the global magnesium market revenue will reach nearly US$ 1.5 Bn, following a healthy growth curve.
Toxic Halogenated Flame Retardants Paving the Way for Magnesium Hydroxide Market
Alerted by the subsequent rise in fire casualties in workplaces, governments, worldwide, have imposed stringent fire safety regulations. Several industries are leveraging magnesium hydroxide as a flame retardant, owing to its low price attribute. In addition, the compound offers superior properties over conventional aluminum trihydrate (ATH) such as greater thermal stability at higher temperature, and controlled dispersion. Usage of flame retardants has been growing due to flourishing end-use industries such as plastics industry, and paints & coatings industry across the globe. This, in turn, is raising concerns regarding the effects of these additives on human health. Brominated flame retardant chemicals are banned in Europe, Asia, and the North America due to their neurodevelopmental toxicity, and thyroid effects. Although adoption of magnesium hydroxide in flame retardant applications contributes meagerly to global market value, benefits of low corrosiveness and toxicity will boost the usage of magnesium hydroxide as an alternative additive.
Eliminating Sludge and Slurry in Wastewater Plants
Owing to its self-buffering nature, magnesium hydroxide is considered ideal for alkalinity adjustments in water and wastewater treatment equipment. Moreover, the chemical is innately safe in handling. Scaling issues are commonplace in various wastewater treatment plants across the globe. Increasing focus on maintaining high water quality standards is accenting to rise in investments in wastewater treatment processes in several industries, including chemical, power plants, and municipal waste treatment centers, in the immediate future. Caustic soda has conventionally been used in wastewater treatment processes as a neutralizing agent, yet it has been subjected to price volatility, resulting in economic uncertainty for end-use industries. Magnesium hydroxide, coupled with the economic advantages, provide technical superiority over its alternatives. Usage of magnesium hydroxide in wastewater treatment plants account for about a quarter of total market value. FMI finds that the trend will increase at a robust pace over the decade ahead.
Continued Preference as a Cost-efficient Alternative in Bleaching Applications
Caustic soda has been the standard component as a cellulose protector and alkali in mechanical bleaching process and as a bleaching agent in the pulp and paper industry. That said, industrials are turning to magnesium hydroxide, given its greater alkalinity and cost effectiveness in pulp and paper bleaching. Although the pulp and paper industry is witnessing slight decline in the developed markets due to replacement of paper by digital media, the industry is growing in developing markets, driven by the booming packaging sector in these regions. This factor will work in favor of magnesium hydroxide manufacturers. Various leading players are entering into collaborations and expansions to manufacture magnesium hydroxide as per the specific needs of the pulp and paper industry.
Asia Pacific Remains the Epicenter of Investment Prospects
Asia Pacific (APAC) continues to offer the opportunities of growth and profitability for magnesium hydroxide manufacturers over the decade ahead. China primarily represents the regional market, as it is leading consumer of magnesia and magnesite. Moreover, the demand for magnesium hydroxide in Japan is surging, owing to rise in the number of fossil fuel power plants in the country. This study reveals that APAC captures about 2/5th of overall market value. The market is also making material progress in North America and Europe. However, both the regional markets have reached saturation, as such, market players are turning their sights to developing regions for further revenue growth.
Leading Manufacturers of Magnesium Hydroxide
The global magnesium hydroxide market is moderately fragmented with involvement of several local and regional market players. Leading magnesium hydroxide manufacturers capture over 30% of overall market revenue. In view of the rising competition in the market landscape, market incumbents are investing in R&D activities, new product launches, and capacity expansions. Some of the players in magnesium hydroxide market include,
- Martin Marietta Materials Inc.
- Premier Magnesia, LLC
- Huber Engineered Materials
- Nedmag Industries Mining & Manufacturing B.V.
- Nabaltec AG
- Lehmann & Voss & Co KG
- Xinyang Mineral Group
- Kyowa Chemical Industry Co. Ltd.
- Tateho Chemical Industries Co. Ltd.
- Ube Industries Ltd.
- Konoshima Chemicals Co. Ltd.
Drawing the Way for Magnesium Hydroxide Market Amidst COVID-19 Crisis
The coronavirus (COVID-19) pandemic is adversely affecting industries all over the world, and the magnesium hydroxide market is no exception. Citing exponential rise in confirmed cases of COVID-19, governments in several countries have enacted nationwide lockdowns and social distancing regulations in an effort to break the trajectory of the coronavirus. As a consequence, market players are shutting down their production units totally or partially in the short term due to scarcity of raw material and manufacturing workforce. However, the global magnesium hydroxide market is slated for fast recovery post the containment of the crisis, as various end-use industries will gradually get back on the track. The market, in particular, will see demand growth in flame retardant applications in various chemicals and materials.
The newest market report published by FMI on the global magnesium hydroxide market comprises of the global industry analysis for 2015-2019 & opportunity assessment for 2020-2030, and delivers complete analysis of the most crucial market dynamics. Through inclusive analysis of the historical as well as current growth parameters of the magnesium hydroxide market, the growth projections of the market are obtained with great precision.
Magnesium Hydroxide Market: Taxonomy
The global magnesium hydroxide market is classified in detail to cover every single aspect of the market and deliver complete market intelligence to the reader.
Chapter 01 - Executive Summary
The report starts through the executive summary of the market, which includes a brief analysis of the key findings and statistics of the market. Furthermore, in this section, analyst has mentioned crux of the market by including overall market approach, target geographies, and differentiating strategies.
Chapter 02 - Market Introduction
Readers can find the definition and a detailed taxonomy of the market in this chapter, which will help them understand the basic information about the magnesium hydroxide market. Apart from it, readers will find classification of lubricant additives in this chapter.
Chapter 03 - Key Market Trends
This chapter of the market report describes key market trends that are expected to significantly impact market growth during the forecast period. A comprehensive analysis of the industry trends are provided in this section.
Chapter 04 - Key Success Factors
This section includes factors that have emerged crucial for the success of key market participants in the global magnesium hydroxide market.
Chapter 05 - Global Market Volume (Consumption) Projections 2019 & 2029
This section explains the global market volume analysis and forecast for the magnesium hydroxide market in the forecast period of 2019-2029.
Chapter 06 - Global Market - Pricing Analysis
This section of the report delivers detailed pricing analysis of the market at the regional level for the current year as well as forecast year.
Chapter 07 - Global Market: Historical and Future Market Analysis
This section highlights the global market value analysis and forecast for the magnesium hydroxide market in the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical market, along with an opportunity analysis of the future.
Chapter 08 - Market Background
This chapter of the report describes the key macro-economic factors that are expected to influence the growth of the market over the forecast period. Along with the macroeconomic factors, this section also highlights the parent market overview, value chain, production technology overview and forecast factors which will significantly impact the market. Moreover, in-depth information about market dynamics and their impact analysis on the market have been provided in the section.
Chapter 09 - Global Market Analysis and Forecast by Grade
Based on product type, the market is segmented into Food/Pharma and Technical/Industrial. In this chapter, readers can find information about the annual growth of each segment, market share, and attractiveness analysis based on grade.
Chapter 11 - Global Market Analysis and Forecast by Application
This chapter provides details about the magnesium hydroxide market based on its application areas, and has been classified as follows- environmental, pharmaceutical, flame retardants and chemicals & others. In this chapter, readers can understand the market value share analysis of above mentioned segments with their absolute $ opportunity over the forecast period.
Chapter 12 - Global Market Analysis 2014-2018 & Forecast 2019-2029, by Region
This chapter explains how the magnesium hydroxide market will grow across various geographic regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
Chapter 13 - North America Market Analysis 2014-2018 & Opportunity Assessment 2019-2029
This chapter includes a detailed analysis of the growth of the North America magnesium hydroxide market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, impact analysis of market dynamics, and market growth according to various segments and countries in North America.
Chapter 14 - Latin America Market Analysis 2014-2018 & Opportunity Assessment 2019-2029
This chapter provides the growth scenario of the market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.
Chapter 15 -Europe Market Analysis 2014-2018 & Opportunity Assessment 2019-2029
Important growth prospects of the magnesium hydroxide market based on its end users in several countries, such as Germany, France, Italy, the U.K., Spain, BENELUX, Russia and Rest of Europe, are included in this chapter.
Chapter 16 - South Asia Market Analysis 2014-2018 & Opportunity Assessment 2019-2029
In this chapter, readers can find the growth prospects of the magnesium hydroxide market in India, ASEAN, and Rest of South Asia with the impact of market dynamics over the forecast period.
Chapter 17 - East Asia Market Analysis 2014-2018 & Opportunity Assessment 2019-2029
This chapter highlights the growth of the magnesium hydroxide market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand the key factors that are responsible for the growth of the market in East Asia.
Chapter 18 - Oceania Market Analysis 2014-2018 & Opportunity Assessment 2019-2029
In this chapter, readers can find detailed information about the growth parameters of Australia and New Zealand viscosity index improver markets during the forecast period of 2019-2029.
Chapter 19 - Middle East & Africa (MEA) Market Analysis 2014-2018 & Opportunity Assessment 2019-2029
This chapter provides information about how the magnesium hydroxide market will grow in prominent countries in the MEA region, such as GCC Countries, South Africa, Turkey, and Rest of MEA, during the stipulated time period.
Chapter 20 - Competition Landscape
In this chapter, readers can find detailed information about the industry structure. Furthermore, readers can find a comprehensive list of all the prominent stakeholders in the market. In the TOC segment, the team has mentioned key players in the magnesium hydroxide market.
Chapter 21 - Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the market report.
Chapter 22 - Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the market.
Sources and Primary Research Splits (%)