Magnesium Hydroxide Market To Surpass US$ 1083.7 Million By 2027 - Coherent Market Insights


Posted June 22, 2021 by SANJAYCMI

Magnesium Hydroxide Market Report- 2026 Analyses competitive environment such as key players, future trends, growths, challenges and acquisitions in the market.
 
Magnesium hydroxide is a chemical compound that appears white in color and occurs naturally as mineral brucite. It is used as an antacid to relieve from the medical condition associated with the gastrointestinal such as bowel movement, indigestion, sour stomach, and gastric formation. Magnesium hydroxide also has smoke suppressing and flame retardant properties which makes it suitable across fire retardant application. Magnesium hydroxide is also used in wastewater treatment and flue gas desulphurization. Moreover, it is also used in pulp and paper industry as a cellulose protector and alternative neutralizing agent.

The global Magnesium Hydroxide Market was estimated to account for US$ 651.4 million in terms of revenue in 2018 and is predicted to grow at a CAGR of 5.8% during the forecast period (2019 to 2027).

Drivers

Growing demand for magnesium hydroxide in wastewater treatment due to the rising need for high quality and clean water is expected to people the market growth of magnesium hydroxide. Magnesium hydroxide is highly alkaline in nature that helps to reduce the sludge volume in water. Growing population base rate, ongoing urbanization, and booming oil & gas industry around the globe is also expected to foster the market growth of magnesium hydroxide. According to the American Society of Civil Engineers, the estimated wastewater treatment spending in the U.S. is expected to increase to US$ 78 Billion by 2020 from around US$ 40 Billion in 2010.

Market Opportunities

Increasing demand for magnesium hydroxide from the electronics industry where it is used as a protective film for plasma display screens is expected to accelerate the market growth of magnesium hydroxide. Moreover, high purity grade of magnesium hydroxide is also used in the development of thin-film semiconductors and researchers are investigating other similar electronic application of magnesium hydroxide will further favor the market growth over the forecast timeframe.

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Market Restraints

Another major disadvantage of magnesium hydroxide is that for effective flame retardancy require high loading levels of metals which is expected to restrict the market growth of magnesium hydroxide. Raising the loading of inorganic metal hydroxides may result in a decrease in physical and chemical properties of metals and this can impact the thermal and flame retardancy properties. The aforementioned factors are expected to curb the market growth of magnesium hydroxide.

Key Takeaways

Among application, environmental dominated the global magnesium hydroxide market in 2018 with a 62.8% of market share in terms of volume, followed by chemicals & others and flame retardants, respectively.

Market Trends

The ongoing trend of acquisition and merger for magnesium hydroxide by the manufacturer of flame retardant has been observed in the global magnesium hydroxide market. Since magnesium hydroxide is considered as a potential alternative to halogenated flame retardant products manufacturers are highly engaged to tap the potential growth opportunity in magnesium hydroxide. This ongoing trend is expected to stimulate market growth over the forecast period. For instance, in December 2015, Huber Engineering Materials acquired Albemarle Corporation’s Martinswerk mineral flame retardants and specialty chemical business, which includes Magnifin, a premium precipitated magnesium hydroxide product line.

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The growing focus of manufacture for expanding the production facility of magnesium hydroxide will positively impact the market growth of magnesium hydroxide. For instance, in January 2020, The Board of Directors of MAGNIFIN Magnesiaprodukte approved the preparatory work for the construction of a second MAGNIFIN Magnesiaprodukte production site. This planned significant investment is driven to meet rising global demand for high-purity, halogen-free magnesium hydroxide fire retardants. Therefore, increasing such initiatives by the manufacture for meeting the rising demand for magnesium hydroxide is expected to accelerate market growth.

Competitive Section

Key players active in the global magnesium hydroxide are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd, Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin Marietta Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.

Few Recent Developments

Huber Engineering Materials

In February 2016, Company acquired Albemarle Corporation’s Martinswerk business, which includes its production facility in Bergheim, Germany, and Magnifin, a precipitated Magnesium hydroxide product line

In June 2015, the company acquired patented Safire Nitrogen and Phosphorus technology from Floridienne Group and integrated it with its halogen-free flame retardant portfolio

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Contact Email [email protected]
Issued By Coherent Market Insights
Phone +1-206-701-6702
Business Address 1001 4th Ave
# 3200 Seattle, WA 98154, U.S.
Country United States
Categories Health , Marketing , Research
Tags Magnesium Hydroxide Market Growth , Magnesium Hydroxide Market Size , Magnesium Hydroxide Market
Last Updated June 22, 2021