Global Magnesium
Hydroxide Market: Overview
Magnesium hydroxide is defined as an
inorganic compound obtained by precipitation process between the magnesium
salts and sodium, or potassium and ammonium hydroxide. Brucite, which is a form
of natural magnesium, is used for commercial purposes such as fire retardant
while most industrially used magnesium hydroxide is produced synthetically.
Brucite may also crystallise in cement and concrete in contact with seawater.
Magnesium hydroxide has chemical formula of Mg(OH)2. Commercial and
industrial magnesium hydroxide is chemically manufactured from seawater or
brine. Magnesium hydroxide is known as milk of magnesia owing to its milk-like
appearance. This compound is less soluble in water. It possesses properties
such as flame retardancy, low corrosiveness, and low toxicity.
Global Magnesium
Hydroxide Market: Drivers and Restraints
Rise in usage of magnesium hydroxide
in industries such as pharmaceutical and healthcare owing to its specific
properties is propelling the magnesium hydroxide market. Magnesium hydroxide is
employed in antiperspirant deodorants, which is used on a large scale by the
young generation population. This is augmenting the magnesium hydroxide market.
Magnesium hydroxide is also used in fossil-fuel based power plants during the
process of desulfurization. This is another factor driving the magnesium
hydroxide market. Increase in usage of magnesium hydroxide in the water
treatment industry is also boosting the magnesium hydroxide market. On the
other hand, implementation of government regulations on the usage of magnesium
hydroxide in the food industry is hampering the magnesium hydroxide market.
Side effects such as allergic reactions, skin rashes, itching, and loss of
appetite are also hindering the magnesium hydroxide market.
Global Magnesium
Hydroxide Market: Key Segments
Based on the grade type, the
magnesium hydroxide market can be segmented into retardant grade, industrial
grade, and pharmaceutical grade.
In terms of end-use industry, the
magnesium hydroxide market can be divided into rubber, building materials,
magnesium salt, and activated magnesium oxide.
Based on geography, the magnesium
hydroxide market can be segregated into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America dominates the market
in terms of revenue owing to the increase in adoption of magnesium hydroxide in
chemical, oil, food, and water industries. The market in North America is
followed by that in Europe in terms of value. The magnesium hydroxide market in
Asia Pacific is expected to expand at a rapid pace during the forecast period
owing to the rise in adoption of magnesium hydroxide in the building &
construction industry.
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Global Magnesium
Hydroxide Market: Key Players
Key players operating in the
magnesium hydroxide market include Nedmag Industries Mining & Manufacturing
B.V., Nabaltec AG, Huber Engineering Materials, Kyowa Chemical Industry Company
Limited, Konoshima Chemical Company Limited., Tateho Chemical Industries
Company Limited, and Baymag Inc., Akzo Nobel N.V., Albemarle Corporation,
Almatis GmbH, BASF SE, Chemtura Corporation, China Minmetals Nonferrous metals,
Cyter Industries, Israel Chemicals etc.
The report offers a comprehensive
evaluation of the market. It does so via in-depth qualitative insights,
historical data, and verifiable projections about market size. The projections
featured in the report have been derived using proven research methodologies
and assumptions. By doing so, the research report serves as a repository of
analysis and information for every facet of the market, including but not
limited to: Regional markets, technology, types, and applications.
Chemicals and
Materials Sector
Companies in the Magnesium
Hydroxide market have increasingly shifted gears with wide application of
digital technology across the continuum, from raw material sourcing to
manufacturing to generation of final output, to warehousing to final
distribution operations. Among the various affects, the market is witnessing
new growth economics due to thinning of line between specialty and commodity
businesses that are associated with the larger ecosystem. At the same time, new
growth parameters are being vigorously being debated as industry stakeholders
put greater emphasis on the circular economy processes.
