The Magnesium Hydroxide Market is Predict to reach $909.2 Million by 2030, at a CAGR of 5.4%

06-Feb-2024 | Report Format: Electronic (PDF)

Magnesium Hydroxide Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, 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).

The Slurry segment led the Global Magnesium Hydroxide Market by Form in 2022; thereby, achieving a market value of $540 Million by 2030. Magnesium hydroxide slurry is often used in various applications, including wastewater treatment, flue gas desulfurization (FGD) in power plants, and as a neutralizing agent in industrial processes. The slurry form allows for easier handling and dosing in certain industrial applications. Magnesium hydroxide slurry is prevalent in environmental and water treatment applications. It is employed for the neutralization of acidic wastewater and the removal of pollutants. The slurry form is advantageous for its ease of mixing and distribution in treatment processes.

The Wastewater Treatment segment is growing at a CAGR of 4.1 % during the forecast period. Magnesium hydroxide is commonly used to adjust and control the pH levels in acidic wastewater. It acts as a neutralizing agent, helping to bring the pH of the wastewater to acceptable levels. This is particularly important in industries where acidic effluents are generated. In wastewater containing heavy metals, magnesium hydroxide can precipitate and remove these metals. When magnesium hydroxide is added, it reacts with metal ions, forming insoluble hydroxide precipitates that can be easily separated from the water.

Full Report: https://www.kbvresearch.com/magnesium-hydroxide-market/

The Asia Pacific region dominated the Global Magnesium Hydroxide Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $396.3 Million by 2030. The Europe region is anticipated to grow at a CAGR of 4.8% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 5.2% during (2023 - 2030).