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The magnesium hydroxide market report offers in-depth insights, revenue details, and other vital information regarding the global magnesium hydroxide market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 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 various key players operating in the global magnesium hydroxide market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global magnesium hydroxide market report has been segmented on the basis of 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 to further 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 the growth of the global magnesium hydroxide market.
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:
Global magnesium hydroxide market segmentation, by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Nedmag Industries Mining & Manufacturing B.V.
- Nabaltec AG
- Huber Engineering Materials
- Kyowa Chemical Industry Co. Ltd.
- Konoshima Chemical Co. Ltd.
- Tateho Chemical Industries Co. Ltd.
- Baymag Inc.
- Sakai Chemical Industries Co. Ltd.
- Lehmann & Voss CO. & KG.
- Martine Marietta Materials Inc.
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