The Global Magnesium Hydroxide Market size is expected to reach $909.2 million by 2030, rising at a market growth of 5.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,875.8 hundred Tonnes experiencing a growth of 4.6% (2019-2022).
This compound is used to neutralize acidic wastewater generated by various industries. Its alkaline properties make it an effective agent for raising the pH levels of acidic effluents, bringing them into compliance with environmental discharge regulations. Consequently, the Wastewater Treatment segment would acquire nearly 30% of the total market share by 2030. In water treatment, this chemical can be employed to precipitate heavy metals. It reacts with metal ions in water, forming insoluble hydroxide compounds that can be easily separated from the water, aiding in removing toxic metals. As industries and municipalities seek efficient and eco-friendly solutions, the market for this chemical in water treatment will likely continue growing.
This chemical is commonly used as a flame retardant in various construction materials, such as insulation, coatings, and cables. As safety regulations become more stringent in the construction industry, the demand for effective flame-retardant solutions, including this chemical, continues to rise. In concrete production, this chemical can control the pH levels. This is important for optimizing the properties of concrete mixtures, contributing to the overall quality and durability of construction materials. Thus, expanding the construction and infrastructure sector, particularly in emerging economies, is expected to continue driving the demand for this chemical. Additionally, Technological advancements in production methods, such as innovative extraction and refining techniques, can increase efficiency and cost-effectiveness in manufacturing this chemical. Additionally, technological advancements enable the customization of this chemical’s properties to meet specific requirements in different industries. Continuous advancements in pharmaceutical technology may lead to the development of novel drug formulations and medical applications involving this chemical. Its role as an antacid and potential contributions to drug delivery systems could expand its presence in the pharmaceutical sector. Integrating digital technologies and automation in manufacturing processes contributes to better control and optimization of production parameters. This is particularly relevant in industries facing stringent environmental regulations. Due to the above-mentioned factors, the market is expected to grow.
However, this chemical is typically produced from magnesium oxide, and the cost of magnesium oxide is a significant component of the overall production cost. The prices of magnesium oxide experience volatility, it directly affects the production costs of this chemical. Volatility in raw material prices can squeeze profit margins for the manufacturers. Rapid and unpredictable changes in raw material costs may require manufacturers to adapt quickly to maintain competitiveness, and this adaptability can be challenging. Therefore, these factors will hinder the market expansion in the upcoming years.
Drivers 
Restraints 
Opportunities 
Challenges Based on application, the market is fragmented into wastewater treatment, flue-gas desulphurisation, flame retardant, pharmaceutical, food additive, and others. The flue-gas desulphurisation segment garnered a significant revenue share in the market in 2022. This chemical hydroxide is used as an absorbent in wet scrubbing systems within FGD units. In this process, a slurry or solution of this chemical is sprayed or introduced into the flue gas stream. Sulfur dioxide is absorbed by the chemical, forming the magnesium sulfate precipitate. FGD systems employing this chemical contribute to the reduction of sulfur dioxide emissions, which are major contributors to acid rain and air pollution. Using this chemical in these systems helps power plants and industrial facilities comply with environmental regulations and emission standards.
On the basis of form, the market is segmented into slurry, powder, and others. The powder segment acquired a substantial revenue share in the market in 2022. Powdered magnesium hydroxide is widely used as a flame retardant in manufacturing plastics, rubber, and other materials. It removes water vapor when exposed to heat, cooling the material and suppressing the flames. The demand for flame retardants has been driven by safety regulations in the construction, automotive, and electronics industries. The powder can be used in agriculture to correct soil acidity and provide essential magnesium nutrients to plants. It is utilized as a soil conditioner to enhance crop yields.
Free Valuable Insights: Global Magnesium Hydroxide Market size to reach USD 909.2 Million by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment registered the highest revenue share in the market. Asia-Pacific is projected to register robust growth during the forecast period. This growth is attributed to a wide use of this chemical to prevent and treat a variety of common health issues, including migraine headaches, metabolic syndrome, diabetes, hyperlipidemia, asthma, premenstrual syndrome, preeclampsia, and numerous cardiac arrhythmias. Further, the pharmaceutical industry's growth is predicted to drive the market in the region during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 600.4 Million |
| Market size forecast in 2030 | USD 909.2 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.4% from 2023 to 2030 |
| Number of Pages | 273 |
| Number of Table | 569 |
| Quantitative Data | Volume in Hundred Tonnes, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Form, Application, Region |
| Country scope |
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| Companies Included | Elementis PLC, Tateho Chemical Industries Co.,Ltd. (AIR WATER INC.), UBE Corporation, Nedmag B.V., Loba Chemie Pvt ltd, Konoshima Chemical Co., Ltd., Xinyang Minerals Group, Premier Magnesia, LLC and Martin Marietta Materials, Inc. |
By Form (Volume, Hundred Tonnes, USD Million, 2019-2030)
By Application (Volume, Hundred Tonnes, USD Million, 2019-2030)
By Geography (Volume, Hundred Tonnes, USD Million, 2019-2030)
This Market size is expected to reach $909.2 million by 2030.
Growth in construction and infrastructure projects are driving the Market in coming years, however, Volatility of raw material prices restraints the growth of the Market.
Elementis PLC, Tateho Chemical Industries Co.,Ltd. (AIR WATER INC.), UBE Corporation, Nedmag B.V., Loba Chemie Pvt ltd, Konoshima Chemical Co., Ltd., Xinyang Minerals Group, Premier Magnesia, LLC and Martin Marietta Materials, Inc.
In the year 2022, the market attained a volume of 3,875.8 hundred Tonnes experiencing a growth of 4.6% (2019-2022).
The Slurry segment led the Market by Form in 2022; there by, achieving a market value of $540 Million by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $396.3 Million by 2030.
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