Market Size of Magnesium Hydroxide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Magnesium Hydroxide Market Analysis
The magnesium hydroxide market is expected to register a CAGR of more than 7% during the forecast period.
During the COVID-19 pandemic period, the demand for different chemical products reduced drastically because of the nationwide lockdown and stringent social distancing mandate, which caused the closure of markets. However, the market is expected to grow steadily owing to increasing demand from the pharmaceutical industry.
- The primary factor driving the market is the demand for pharmaceuticals, industrial chemicals, and intermediaries.
- The availability of alkaline bulk chemicals such as sodium and calcium hydroxide will hinder market growth.
- The increasing demand for wastewater treatment chemicals is the key market opportunity.
- Asia-Pacific dominated the global market, with the most significant consumption in China and India.
Magnesium Hydroxide Industry Segmentation
Magnesium hydroxide is an alkaline compound formed by the reaction of magnesia and water in controlled conditions. This bulk chemical is widely used in chemical manufacturing for desulphurization and wastewater treatment applications. In the pharmaceutical industry, it is used as an antacid and laxative and as an intermediary for different chemical reactions. The magnesium hydroxide market is segmented into industrial, pharmaceutical, and other chemical industries on basis of application. By geography, the market is segmented into Asia-Pacific, North America, Europe, South America, the Middle East, and Africa. The report also covers the market sizes and forecasts for the Magnesium Hydroxide market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD Million).
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Magnesium Hydroxide Market Size Summary
The magnesium hydroxide market is poised for significant growth, driven by its increasing application in pharmaceuticals, industrial chemicals, and wastewater treatment. The demand for magnesium hydroxide is bolstered by its essential role in desulphurization and wastewater treatment processes within industrial manufacturing units. Additionally, its use as an antacid in the pharmaceutical sector underscores its importance. The market's expansion is further supported by the burgeoning industrial sector globally, which necessitates efficient wastewater treatment and desulphurization solutions. However, the availability of alternative alkaline bulk chemicals like sodium and calcium hydroxide poses a challenge to market growth. The Asia-Pacific region, particularly China and India, leads in consumption, fueled by economic growth and infrastructure development, which in turn drives the demand for industrial chemicals.
The market landscape is characterized by a mix of prominent players and numerous local entities, with companies like Elementis PLC, Kyowa Chemical Industry, and NikoMag playing significant roles. The fragmented nature of the market allows for competitive dynamics, with companies continuously seeking to expand their production capacities and enhance their market presence. The Middle East and Africa are also expected to see increased demand for magnesium hydroxide, driven by structural reforms and investments in various sectors. In Europe, the presence of large paint industries and well-established players is anticipated to bolster the industrial coatings segment, further supporting the demand for magnesium hydroxide. Overall, the market is set to benefit from the growing industrial activities and strategic investments in key regions, positioning it for robust growth in the coming years.
Magnesium Hydroxide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from Industrial Manufacturing Industry
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1.1.2 Growing Demand from Pharmaceutical Industry
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1.2 Restraints
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1.2.1 Availability of Other Alkaline Bulk Chemicals
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Application
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2.1.1 Industrial Manufacturing
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2.1.2 Pharmaceutical Industry
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2.1.3 Other Applications
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East and Africa
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Magnesium Hydroxide Market Size FAQs
What is the current Magnesium Hydroxide Market size?
The Magnesium Hydroxide Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Magnesium Hydroxide Market?
Elementis PLC, Kyowa Chemical Industry, NikoMag, Premier Magnesia and Israel Chemicals Ltd. are the major companies operating in the Magnesium Hydroxide Market.
