A Market Research and Competitive Intelligence Provider: The global magnesium hydroxide market is currently valued at US $ 720.5 Million in 2022. This is expected to predict a CAGR of 5.3 % during the forecast period and is expected to reach a market value of US $ 1.22 Billion by 2032.
Key manufacturers have shifted their focus on production of magnesium hydroxide from sourcing of raw material. This has cut the expenses over time and has supported the growth of the market. Moreover, short-term goal of the manufacturers is to focus more on sustainable business and lower carbon footprint and increase efficiency of plants.
Also, long term plan of key manufacturers is to focus on strategic partnerships with raw material suppliers and third-party distributors for continuous supply.
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Besides this, key players in the market are focusing on development of innovative product technology and varied procedures for productivity and enhanced efficacy.
Key Takeaways:
- The US market is anticipated to witness a CAGR of 4.2% and is expected to reach a value of US $ 230 million by 2030. Moreover, volume consumption is expected to witness a CAGR of 3.3% in the country during forecast period.
- Germany has been the epicenter for the production of pharmaceutical products, besides R&D and sales of several medicines. The market for magnesium hydroxide in Germany is expected to witness a CAGR of 5.6% and reach US $ 72.1 million by 2032.
- Industrial grade magnesium hydroxide in the market accounts for around 54% market share and is estimated to occupy US $ 387.6 Million in value by the end of 2022. Also, the market is expected to witness an opportunity of US $ 301.7 by 2032.
- Asia pacific is expected to witness highest growth due to high demand for neutralizing agents for wastewater treatment in the region.
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Growth Drivers:
- High adoption of magnesium hydroxide in fuel additives and chemicals is expected to escalate the demand for magnesium hydroxide.
- Usage of liquid magnesium hydroxide in diverse range of industrial sectors such as wastewater treatment, pharmaceutical is expected to drive the growth of the market.
- Various manufacturers across the US are focusing on innovative methods to engage with customers. Moreover, these companies are also focusing on organic growth by introducing several products under a single brand. These factors are expected to drive the growth of the market.
- High demand from Asia Pacific is due to high demand for wastewater treatment neutralizing agents in the region. Moreover, food industry also offers growth opportunities in the region.
Competitive Landscape:
Key manufacturers in the market are focused on organic growth by launching several brands under a single brand.
Moreover, manufacturers in North America are focusing on brand expansion across untapped regions/markets. Also, various players in the market are investing in green technology and other initiatives.
Key Companies Profiled by Fact.MR
- Huber Engineered Materials
- Israel Chemical Company
- Nedmag B.V.
- Konoshima Chemical Co. Ltd.
- Ube Materials Industry
- Kyowa Chemical Industry Ltd
- Xinyang Minerals Group
- Niknam Chemicals Private Limited
- Premier Magnesia LLC.
- Kisuma
- Anish Chemicals
More Valuable Insights on Magnesium Hydroxide Market
Segmentation of Magnesium Hydroxide Industry Research
- Magnesium Hydroxide Market by Form :
- Liquid Magnesium Hydroxide
- Powder Magnesium Hydroxide
- Magnesium Hydroxide Market by Application :
- Wastewater Treatment
- Pharmaceuticals
- Flame Retardants
- Chemicals & Others
- Fuel Additives
- Food & Feed
- Abrasives
- Others
- Magnesium Hydroxide Market by Grade :
- Industrial
- Food
- Pharmaceutical
- Magnesium Hydroxide Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Magnesium Hydroxide Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by Form (Liquid Magnesium Hydroxide & Powder Magnesium Hydroxide) By Grade (Industrial, Food & Pharmaceutical Grade Magnesium Hydroxide) By Application and By Region – Global Market Insights 2022 to 2032
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