Magnesium hydroxide is an inorganic alkaline compound which formed naturally in form of mineral (brucite). It is also formed by the precipitation process between the magnesium salt and hydroxide of any substance (sodium, potassium, and ammonium). It is also called as milk of magnesia owing to its milk like appearance. It is less soluble in water and possess properties includes flame retardancy, low corrosiveness and low toxicity. It has application in flame retardant and smoke suppressants, wastewater treatment, and flue gas desulphurization. Additionally, it is used as a fuel additive, pulp bleaching, leather, abrasives, and others. Moreover, it is also used in the manufacturing of ceramics, salts, food additives and lubricating oils. In pharmaceutical industry, magnesium hydroxide is used for neutralize stomach acids and as laxative.

Market Scope and Structure Analysis

COVID-19 Impact analysis

• The magnesium hydroxide market is expected to witness a slowdown, owing to decline in supply chain disruptions of various industries due to the global COVID-19 outbreak.
• Due to the COVID-19 outbreak globally, most of the industry where magnesium hydroxide is used as component in manufacturing is affected due to ultimate shutdown and lack of workforce.
• However, there will be an increase in the demand for magnesium hydroxide owing to the major application in medical & pharmaceutical industries is expanding during COVID-19.

Top Impacting Factors

Magnesium hydroxide used in the flue gas desulphurization process for the extraction of high-quality petroleum production is increasing owing to the growth of the market. The usage of magnesium hydroxide in the water treatment industry is also boosting the market. Growing usage of magnesium hydroxide in the steel industry as refractory brick which is fertilized with carbon to offer the corrosion resistance property owing as an opportunity for market growth. Government intervention regarding the usage of magnesium hydroxide is one of the restraining factors for the market. Various side effects such as itching, loss of appetite, allergic reactions, and skin rashes are restricting the growth of the magnesium hydroxide market. These factors are expected to hinder the growth of the global magnesium hydroxide market.

Market Trends

• Magnesium hydroxide is innovatively used as the filling for electrical heating material, which has increased the magnesium hydroxide demand in the electrical industry.
• In 2021, Israel Chemical Company acquired the Compass Minerals America do sul S.A., which indicates that major market players are following inorganic growth strategies.
• In March 2019, magnesium producer NEDMAG and TIMAB MAGNESIUM has formed a partnership in order to develop and increase the production capacity.

Key Segments Covered

Product Form

• Slurry
• Powder
• Others

Purity Level

• 90%-95%
• 96%-100%

Application

• Environmental Protection
• Flame Retardant
• Pharmaceutical Ingredient
• Others

End Use

• Industrial
• Municipal
• Pharmaceutical
• Others

Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • 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 Benefits of the Report

• This study presents the analytical depiction of the Magnesium Hydroxide industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Commodity Plastics Market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the Magnesium Hydroxide Market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Magnesium Hydroxide Market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the magnesium hydroxide Report

• Who are the leading market players active in the Magnesium Hydroxide Market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?
• Which Government regulations might challenge the status of key regional markets?
• What are the key barriers to enter for the new players in the market?
• What value proposition should businesses aim at while making new research and development funding?