Magnesium hydroxide is a chemical compound that is white in colour, and occurs naturally as mineral brucite. It is used as an antacid to relieve from the medical condition associated with the gastrointestinal such as bowel movement, indigestion, sour stomach, and gastric formation. Magnesium hydroxide has smoke suppressing and flame retardant properties that makes it suitable in fire retardant application. Magnesium hydroxide is used in wastewater treatment and flue gas desulphurization. Moreover, it is also used in pulp and paper industry as a cellulose protector and alternative neutralizing agent.
Global magnesium hydroxide market was valued at US$ 773.0 Billion in 2022, exhibiting a CAGR of 6.9 % during the forecast period (2023 to 2030).
Global Magnesium Hydroxide Market - Growth Drivers
Rising Demand for Magnesium Hydroxide in Wastewater Treatment
Rising demand for magnesium hydroxide in wastewater treatment due to need for high quality and clean water is expected to drive the market growth. Magnesium hydroxide is highly alkaline in nature that helps to reduce the sludge volume in water. Growing population base rate, ongoing urbanization, and growing oil & gas industry around the globe is also expected to drive the market growth. According to the American Society of Civil Engineers, the estimated wastewater treatment spending in the U.S. was increased to US$ 78 Billion by 2020 from US$ 40 Billion in 2010.
Global Magnesium Hydroxide Market - Market Opportunities
Increasing Demand for Magnesium Hydroxide from the Electronics Industry
Increasing demand for magnesium hydroxide from the electronics industry where it is used as a protective film for plasma display screens is expected to drive the market growth. Moreover, high purity grade of magnesium hydroxide is also used in the development of thin-film semiconductors and researchers are investigating other similar electronic application of magnesium hydroxide that can drive the market growth over the forecast period.
Global Magnesium Hydroxide Market – Restraints
Disadvantage of magnesium hydroxide are expected to hamper the market growth of magnesium hydroxide.
Major disadvantage of magnesium hydroxide is that effective flame retardancy requires high loading levels of metals that is expected to restrict the market growth. Raising the loading of inorganic metal hydroxides leads to decrease in physical and chemical properties of metals, and this can impact the thermal and flame retardancy properties.
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Key Takeaways
Among application, environmental segment dominated the global magnesium hydroxide market in 2022 with a 62.8% of market share in terms of volume, followed by chemicals & others and flame retardants, respectively.
Global Magnesium Hydroxide Market- Trends
Acquisition and merger for magnesium hydroxide by the manufacturer of flame retardant is a major trend in the global magnesium hydroxide market. Magnesium hydroxide is considered as a potential alternative to halogenated flame retardant, and thus, products manufacturers are extremely motivated to seize the possibilities for growth in magnesium hydroxide. This ongoing trend is expected todrive the market growth over the forecast period. For instance, in December 2015, Huber Engineering Materials, acquired Albemarle Corporation’s Martinswerk, a mineral flame retardants and specialty chemical business that includes Magnifin, a premium precipitated magnesium hydroxide product line.
Increasing focus of manufacture for expanding the production facility of magnesium hydroxide is expected to drive the market growth of magnesium hydroxide. For instance, in January 2020, The Board of Directors of MAGNIFIN Magnesia products approved the preparatory work for the construction of a second MAGNIFIN Magnesiaprodukte production site. This planned significant investment is driven to meet rising global demand for high-purity, halogen-free magnesium hydroxide fire retardants. Therefore, increasing initiatives by the manufacture for meeting the rising demand for magnesium hydroxide is expected to drive the market growth.
Global Magnesium Hydroxide Market- Competitive Section
Key players active in the global magnesium hydroxide are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd, Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin Marietta Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.
Global Magnesium Hydroxide Market- Recent Developments
- In July 2021, CJSC NikoMag, a member of the Nikokhim group, is preparing to increase the factory's yearly production capacity from 25,000 to 40,000 tonnes. CJSC NikoMag, specialises in producing high purity magnesium products, including magnesium hydroxide, chloride, and oxide.
- In February 2016, Huber Engineering Materials, acquired Albemarle Corporation’s Martinswerk business that includes its production facility in Bergheim, Germany, and Magnifin, and a precipitated Magnesium hydroxide product line. Huber Engineering Materials is a market leader in the production of industrial chemicals and is always developing and changing to meet and surpass customer expectations and industry standards.
In June 2015, Huber Engineering Materials, acquired patented Safire Nitrogen and Phosphorus technology from Floridienne Group and integrated it with its halogen-free flame retardant portfolio. Huber Engineering Materials is a market leader in the production of industrial chemicals and is always developing and changing to meet and surpass customer expectations and industry standards.
