Magnesium Hydroxide Market Size, Share, Competitive Landscape and Trend Analysis Report by Form, by Application : Global Opportunity Analysis and Industry Forecast, 2022-2031

Magnesium Hydroxide Market Research, 2031

The global magnesium hydroxide market was valued at $0.6 billion in 2021, and is projected to reach $1.1 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.

Magnesium hydroxide is widely used in aerobic and anaerobic biological treatment systems in meat processing plants, bakeries, and chemical processing plants. It is used to treat industrial metal-laden acidic wastewater, producing less sludge volume, and a filter cake that de-waters faster than caustic soda or lime.

The increasing demand for magnesium hydroxide for various applications, such as environmental protection, flame retardance, and pharmaceutical is expected to serve as a crucial growth factor for the global magnesium hydroxide market. Also, rise in use of magnesium hydroxide in the pharmaceutical industry is another key factor that can stimulate the magnesium hydroxide market growth during the forecast period. However, availability of substitutes is anticipated to hamper the growth of the global magnesium hydroxide market. On the contrary, increase in demand for magnesium hydroxide in the steel industry is expected to generate lucrative opportunities for the global magnesium hydroxide industry.

The magnesium hydroxide market is segmented into form, application, and region. On the basis of form, the market is categorized into slurry, powder, and others. On the basis of application, the market is categorized into wastewater treatment, flue-gas desulphurisation, flame retardant, pharmaceutical, food additive, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The magnesium hydroxide market share is analyzed across all significant regions and countries.

The major players operating in the global magnesium hydroxide market include, Albemarle Corporation, Elementis, Huber Engineered Materials, Kisuma Chemicals B.V, Konoshima Chemical Co, Kyuwa Chemicals, Loba Chemie Pvt. Ltd, Martin Marietta Materials Ltd, Nedmag B.V, Osian Marine Pvt Ltd, Premier Magnesia LLC, Tateho Chemicals Industriess Co. Ltd,  TIMAB Magnesium, Ube Materials Industries Ltd., and Xinyang Mineral Group. These players have been adopting various strategies to gain higher share or to retain leading positions in the market. Expansion, innovation, acquisition, and collaboration are the most adopted strategies by these players. For instance, in 2019, magnesium producers NEDMAG and TIMAB Magnesium collaborated on a strategic partnership for development and commercialization of magnesium hydroxide in Marine Gas Scrubber Systems.

Asia-Pacific dominated the market with the highest revenue share in 2021. Asia-Pacific is projected to register a robust growth during the forecast period. This growth is attributed to a wide use of magnesium hydroxide to prevent and treat a variety of common health issues, including migraine headaches, metabolic syndrome, diabetes, hyperlipidemia, asthma, premenstrual syndrome, preeclampsia, and numerous cardiac arrhythmias. Further, the pharmaceutical industry's growth is predicted to drive the global magnesium hydroxide market in the region during the forecast period.

Slurry segment dominated the global magnesium hydroxide market in terms of revenue, in 2021. Magnesium hydroxide slurry is a safe and cost-effective treatment option to neutralize industrial and municipal wastewater streams. Besides, it can be effectively used in aerobic processes where sufficient agitation and retention time are provided. It maintains a pH between 6.0 and 9.0, and is a superior source of alkalinity, which is optimal for application in aerobic and anaerobic biological treatment systems. It offers nutrients essential to growth and results in more rapid aerobic digestion, primarily in denitrification systems.

Wastewater treatment segment dominated the global magnesium hydroxide market. Magnesium hydroxide has found widespread application in the treatment of industrial metal-laden acidic effluent. Magnesium hydroxide has good removal effects on many contaminants in water, including inorganic pollutants and organic pollutants.

COVID-19 Analysis:

The COVID-19 pandemic had a major impact on the global magnesium hydroxide market. It negatively impacted the supply as well as the import and export of chemicals. The COVID-19 pandemic adversely hit the electronic industry globally with tremendous loss to businesses, which cannot be quantified. Electronics and electrical gadgets, such as computers, laptops, phones, televisions, and home appliances, as well as wires and cables are frequently treated with flame retardants.

However, magnesium hydroxide are highly demanded in the pharmaceutical industry for short-term treatment for occasional constipation in children and adults, as well as an antacid with a gradual neutralizing activity and a modest laxative action. Further, increasing levels of magnesium may help COVID-19 patients successfully combat the virus. Due to the COVID 19 outbreak, the health awareness among the populace has grown and the pharmaceutical sector has grown during the pandemic. The pharmaceutical manufacturing industry was worth $405.52 billion in 2020 and is predicted to increase at an 11.34% compound annual growth rate from 2021 to 2028. Thus, the growing demand from pharmaceutical sector is predicted to drive the global magnesium hydroxide market during the pandemic.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the magnesium hydroxide market analysis from 2021 to 2031 to identify the prevailing magnesium hydroxide market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the magnesium hydroxide market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global magnesium hydroxide market trends, key players, market segments, application areas, and market growth strategies.

  Magnesium Hydroxide Market Report Highlights

Aspects	Details
Market Size By 2031	USD 1.1 billion
Growth Rate	CAGR of 5.7%
Forecast period	2021 - 2031
Report Pages	281
By Form	Slurry Powder Others
By Application	Wastewater Treatment Flue-Gas Desulphurisation Flame Retardant Pharmaceutical Food Additive Others
By Region	North America  (U.S., Cana, Mexico) Europe  (Germany, France, UK, Spain, Italy, Rest Of Europe) Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest Of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest Of LAMEA)
Key Market Players	Konoshima Chemical Co. Ltd., Elementis, Osian Marine Pvt.Ltd, Premier Magnesia LLC, Albemarle Corporation, Loba Chemie Pvt ltd, Tateho Chemical Industries Co. Ltd., Huber Engineered Materials, Timab Magnesium SAS, Xinyang Mineral Group, Martin Marietta Materials Ltd., Kisuma Chemicals B.V., Kyuwa Chemicals, Ube Material Industries Ltd., Nedmag B.V

Analyst Review

According to the perspective of the CXOs of leading companies, the  global magnesium hydroxide market is anticipated to grow in the near future due to its extensive use in applications, such as environmental protection, flame retardant, pharmaceutical ingredient, and others. Magnesium hydroxide has found widespread application in the treatment of industrial metal-laden acidic wastewater. It is also utilized in the production of ceramics, salts, culinary additives, and lubricating lubricants. It is also used to treat occasional constipation in children and adults on a short-term basis. It is used in fuel additives, pulp bleaching, leather, abrasives, and others. It also offers flame retardance and smoke suppression and has minimal toxicity. Thus, the wide application of magnesium hydroxide is predicted to bolster the market growth during the forecast period. Further, the Asia-Pacific region is projected to register a robust growth during the forecast period.

Author Name(s) : Arpita Kumari | Eswara Prasad

Related Tags

• Water Treatment
• Food Additives
• Pharmaceutical Chemicals