Global Magnesium Hydroxide Market, 2014-2024: By Type, By Grade, and By Application
Global Magnesium Hydroxide Market, 2014-2024: By Type (Chemical Synthesis Method and Physical Method), By Grade (Retardant Grade, Industrial Grade, and Pharmaceutical Grade), and By Application (Environmental Protection, Flame Retardant, Pharmaceutical, and Others).
Magnesium hydroxide is an inorganic compound. Its chemical formula is Mg(OH)2. It is naturally found as the mineral brucite. Brucite may also crystallise in cement and concrete in contact with seawater. It has antacid and laxative properties. Magnesium hydroxide has smoke suppressing and flame retardant properties. It has very less solubility in water. It is odorless amorphous powder. It absorbs CO2 in the presence of water.
Magnesium hydroxide can be categories by type based on synthesis into chemical synthesis method and physical method. It also classified by grade into retardant grade, industrial grade, and pharmaceutical grade. Antacid and laxative properties used in preparation of drugs either in oral liquid suspension or chewable tablet form. It is commercially used as a fire retardant in many industrial application. Magnesium hydroxide powder also finds is application in industrial purposes as a non-dangerous alkali in order to neutralize acidic wastewater. It is also used in desulphurization. It is used in wet plate collodion process as a photographic fixer. It is also found uses in gold mining and warehouses. Magnesium hydroxide has wide area of end use industry application included environmental protection industry, flame retardant industry, pharmaceutical industry, and other.
The global magnesium hydroxide research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the global magnesium hydroxide is growing at a fast pace and increasing its geographical footprint rapidly. The global magnesium hydroxide is valued at US $ xxx million dollars in 2019 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2024 in value.
The growth is comparatively higher in APAC region due to rising demand from end use industry. The major growth driver for magnesium hydroxide is the huge demand from deodorant personal care industry. Also, rising application in wastewater treatment plant is expected to drive the growth of magnesium hydroxide market globally. In addition, rising adoption in pharmaceuticals industry and desulphurization is fueling growth of magnesium hydroxide market globally.
Magnesium hydroxide enjoy wide usage across all major regions in the world including Europe, APAC, North America, Middle East, Africa, and South America. These regions serve large number of manufacturers and supplier and are hence responsible for the growth of magnesium hydroxide globally. The companies that lead global market are, Ube Materials, Martin Marietta, Kyowa Chemical, Albemarle, RHI Group, ICL, Konoshima Chemical Russian Mining Chemical, Nedmag, Spi Pharma, Huber, Xinyang Minerals, Lianda Chemical, Qinghai Best, Deer, Dandong Yungsing, Weifang Yuandong, Yantai FR Flame Technology, Qinghai West Magnesium, ShanDong LuHua chemical, Hellon, Lianyungang Nippo Group, and Wanfeng.
The research process includes the market segmentation of the global magnesium hydroxide, identifying the growth determinants of every market segment and market forecasts. All the market forecasts are done in accordance with the inputs taken from the global magnesium hydroxide industry experts from across the global industry. Market Krystal conducts more than 40 interview hours dedicated for this study, the same are mentioned below: