Global Magnesium Hydroxide Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Magnesium Hydroxide Market Report Overview:

“The Global magnesium hydroxide market size is expected to be worth around US$ 670.12 million by 2021 from US$ X.xx million in 2031, growing at a CAGR of 4.5% during the forecast period 2021 to 2031.”

The report offers insightful and detailed information regarding the key players operating in the global magnesium hydroxide market, their financials, supply chain trends, technological innovations, key developments, future strategies, acquisitions & mergers, and market footprint.

The global magnesium hydroxide market report has been segmented based on application and region. Magnesium hydroxide Mg(OH)2 is a naturally occurring white powder material having no odor. The best-known form of the compound is milk liquid known as milk of magnesia which is used to treat constipation.

Increasing industrial growth and rising demand from the water industry is a major factor driving the growth of the global magnesium hydroxide market. In addition, increasing adoption of magnesium hydroxide from various industries such as chemical, electrical, and oil industry are other factors expected to drive the growth of the global magnesium market.

Moreover, owing to properties such as flame and fire retardant, the use of magnesium hydroxide in building and construction materials such as composite panels, roofing components, and insulation materials is expected further to drive the growth of the global magnesium hydroxide market.

However, strict government regulations related to the use of magnesium hydroxide in the food industry are a major factor hampering global magnesium hydroxide market growth.

Additionally, side effects of magnesium hydroxide such as allergic reactions like skin rash, itching or hives, and loss of appetite are other factors expected to hamper the growth of the global magnesium hydroxide market.

Technological advancements in the use of magnesium hydroxide of large diameter which is significantly low in ionic impurities are a better solution for insulation performance and are expected to present new opportunities for market players operating in the global magnesium hydroxide market.

The North American market is a dominant player in the global magnesium hydroxide market and accounts for the largest market share in terms of revenue as compared to that of markets in other regions.

This is attributed to the increasing adoption of magnesium hydroxide in chemical, oil, food, and water industries. Europe market accounts for the second-largest revenue share contribution to the global magnesium hydroxide market followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively.

The market in the Asia Pacific is projected to have the fastest growth in terms of revenue, owing to the increase in the adoption of magnesium hydroxide in the construction and building sector in this region.

Global Magnesium Hydroxide Market Segmentation:

Global magnesium hydroxide market segmentation, by application:

• Environmental
• Chemicals
• Water
• Others

Global magnesium hydroxide market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa