MAGNESIUM HYDROXIDE MARKET ANALYSIS

Market Challenges And Opportunities

• Increasing Usage of Magnesium Hydroxide in Flame Retardant

Increasing usage of magnesium hydroxide in flame retardant, in order to replace the halogenated flame retardants due to rising health concerns is expected to drive the market growth of magnesium hydroxide. According to the Coherent Market Insights, brominated flame retardant additives are banned in most of the markets such as Europe, Asia Pacific, and North America due to neurodevelopmental toxicity, thyroid effects, and other side-effects on human health, and thus, there is huge demand for magnesium hydroxide as an alternative additive in these regions.

• Rising Need for the Removal of Sulfur Content from the Fuel

Increasing usage of magnesium hydroxide in flue gas desulphurization for extracting high-quality petroleum products is estimated to drive the market growth. Deployment of the SO₃ removal system is necessary in power plants and other industries, in order to remove sulfur content in fuel that causes corrosion of machinery and impacts the performance of machines. Therefore, rising need for the removal of sulfur content from the fuel is expected to drive the market growth.

• Availability of Substitutes

The availability of substitutes such as caustic soda as it is an ideal neutralizing agent is expected to hinder the market growth. Most of the neutralizing systems installed in the industry uses caustic soda as it has a higher reaction rate. However, magnesium hydroxide system  is expensive. These  factors are expected to restrict the market growth. However, the growing demand for the magnesium hydroxide is expected witness significant growth in the upcoming forecast period.

• Side Effects Associated with Excessive Consumption of Magnesium

Excessive consumption of magnesium causes diarrhea and other side effects such as vomiting and cramping. This factor is expected to restrict the consumption of magnesium hydroxide, and thus, is expected to hinder the market growth. Moreover, high level of magnesium hydroxide in the blood can weaken muscles, leads to irregular heart rate, and difficulty in breathing & mood swings. Such side effects associated with the magnesium hydroxide is expected to hinder  the market growth negatively. However rising demand for mangnesium hydroxide from steel industry is expected to witness significant oppournity among global magnesium hydroxide market players.

Global Magnesium Hydroxide  Market- Market Opportunities

• Rising Demand for Magnesium Hydroxide from the Steel Industry 

Growing usage of magnesia in the steel industry as a refractory brick that is impregnated with carbon to offer excellent properties of corrosion resistance to the environment is expected to drive the market growth. Moreover, sprayable and castables based on magnesia are broadly used as a basic refractory lining for steel transfer applications. Therefore, rising demand for magnesium hydroxide from the steel industry as a refractory brick is expected to drive the market growth over the forecast period.

• Rising Usage of Magnesia Powder

Rising usage of magnesia powder as filling for electrical heating materials is expected to drive the market growth of magnesium hydroxide. Fused magnesia has both thermal conductivity and electrical resistance. As it forms a layer between the element and the outer sheath. Moreover, magnesia is also used as mineral insulation in cables application. Therefore, emerging usage of magnesia powder is expected to drive the market growth of magnesium hydroxide.