The companies featured in the Magnesium Hydroxide market are Xinyang Mineral Group, Martin Marietta Materials Inc., Premier Magnesia, LLC, Kyowa Chemical Industry Co. Ltd., Nedmag Industries Mining & Manufacturing BV, Huber Engineered Materials, Israel Chemicals Ltd., Tateho Chemical Industries Co., Ltd., Ube Industries Ltd., Nabaltec AG, Konoshima Chemicals Co. Ltd., Lehmann & Voss & CO. KG
NEWARK, Del, April 26, 2022 (GLOBE NEWSWIRE) — Future Market Insights (IMF) has forecast demand for magnesium hydroxide to grow 5.6% year-over-year in 2022 to reach worth about US$992.5 million by the end of 2022. The global business is expected to grow at a growth rate of 5.8% over the forecast period of 2022 and 2030.
Steadily increasing demand for magnesium hydroxide for wastewater treatment is expected to shape the growth of the global magnesium hydroxide market over the forecast period (2022-2030). Although COVID-19 pandemic is likely to hamper the market growth during the first half of the forecast period, the global magnesium hydroxide market is expected to reach a market value of 1,560.2 million US dollars by the end of 2030. According to the latest study published by Future Market Insights (IMF), the COVID-19 pandemic is likely to have a short-term impact on the growth prospects of the global market for magnesium hydroxide.
Currently, the applications of magnesium hydroxide extend beyond wastewater treatment as it is increasingly used for a range of applications including gold mining, warehouses, antacids, thermal conduction and the wet pallet collodion process, among others.
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Key points of the Magnesium Hydroxide market
Magnesium hydroxide emerges as an ideal substitute for lime and caustic soda in wastewater treatment
Brine/seawater precipitation would remain the most important manufacturing process due to its long-term economic benefits
Rising demand for technical/industrial grade magnesium hydroxide is expected to provide impetus for market growth
South Asia and East Asia remain at the forefront in terms of market growth; key market players likely to focus on exploiting opportunities in these regions
The increase in demand for environmental applications will contribute to the growth of the market. Expanding applications in the chemical sector will drive the growth of the market
Over the past few decades, magnesium hydroxide has become an ideal inorganic compound for environmental applications including flue gas desulfurization and wastewater treatment. This remains an important factor contributing to the growth of the market.
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High demand for wastewater treatment is expected to increase market growth
Over the past two decades, magnesium hydroxide has been increasingly used for wastewater treatment applications in both developed and developing regions. As governments around the world continue to focus on improving wastewater treatment techniques, magnesium hydroxide has emerged as an ideal candidate. At present, due to the advantages exhibited by magnesium hydroxide slurry, its adoption is expected to exceed that of lime and caustic soda.
Moreover, in addition to being an ideal alternative for wastewater treatment, magnesium hydroxide is widely used for the acid neutralization of industrial wastewater. As the industrial applications of magnesium hydroxide expand, industrial grade magnesium hydroxide will gain strength to capture a higher revenue share in the global market.
Short-term ramifications of the COVID-19 pandemic
An IMF study indicates that the COVID-19 pandemic is expected to have a short-term impact on the overall growth prospects of the global magnesium hydroxide market. Market research predicts that demand will remain sluggish during the coronavirus outbreak as governments around the world continue to enforce trade restrictions due to which market participants are expected to address supply chain challenges posed by crisis.
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Magnesium Hydroxide Market: Taxonomy
The global Magnesium Hydroxide market is categorized in detail to cover all market aspects and provide comprehensive market information to the reader.
Middle East and Africa
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A new report on Mass Finishing Consumables Market published by Future Market Insights highlights accurate analysis of the market and offers comprehensive insights with historical demand data for 2015 – 2021 and forecast statistics for 2022 – 2030. The study offers insightful insights on the Global Magnesium Hydroxide Market by Category (Food & Pharmaceutical, Technical/Industrial), Application (Environmental (Flue Gas Desulfurization & Wastewater Treatment), Pharmaceuticals, Chemicals and others and flame retardants) and region – forecast 2022-2030.
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis and recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market definition
2.3. Classification of lubricant additives
3. Key Market Trends
4. Key success factors
5. Global Magnesium Hydroxide Market Consumption (Consumption) Analysis 2015-2021, and Forecast, 2022-2030
5.1. Historical Market Volume Analysis (Tons)
5.2. Current and Future Market Volume Projections (Tons)
5.3. Analysis of annual growth trends
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