Magnesium Hydroxide Market Size to Grow USD 1310.9 Million by 2030 at a CAGR of 5.8% | Valuates Reports

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Sep 10, 2024, 09:38 ET

BANGALORE, India, Sept. 10, 2024 /PRNewswire/ -- Magnesium Hydroxide Market is Segmented by Type (Chemical Synthesis Method, Physical Method), by Application (Water Treatment, Flame Retardant Industry, Pharmaceutical & Food): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Magnesium Hydroxide Market is projected to reach USD 1310.9 Million by 2030 from an estimated USD 933.1 Million in 2024, at a CAGR of 5.8% during 2024 and 2030.

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Major Factors Driving the Growth of Magnesium Hydroxide Market:

The global magnesium hydroxide market is driven by its wide application as an industrial material for mainly wastewater treatment, flame retardants, and environmental protection. It is extensively applied in industrial usages because of being non-toxic and having a neutralizing ability with regard to acidity. Other factors driving the market include growing concern about water pollution along with the implementation of increasingly stringent standards by regulatory bodies worldwide and the demand for construction and electronics, where eco-friendly flame retardants are used. The pharmaceutical and personal care industries are also major consumers of magnesium hydroxide in their products like antacids, laxatives. Hence the consumption of magnesium hydroxide is increasing slowly. Asia-Pacific region is identified as a prime region for magnesium hydroxide due to heavy industrialization.

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TRENDS INFLUENCING THE GROWTH OF THE MAGNESIUM HYDROXIDE MARKET:

Growing markets for magnesium hydroxide are benefitting from chemical synthesis methods, which lead to increased production efficiency and improved product quality. This method allows for control over purity levels, particle size, and other essential properties of magnesium hydroxide, making it suitable for various industrial applications. As demand grows in sectors like pharmaceuticals, water treatment, and flame retardants, advanced chemical synthesis processes enable manufacturers to meet stringent specifications. These processes also reduce impurity levels, enhancing the product's effectiveness, which is crucial for medical and environmentally friendly uses. As a result, these improvements in capabilities are driving the expansion of the magnesium hydroxide market.

Magnesium hydroxide is widely used in water treatment due to its efficiency in neutralizing acidic wastewater and removing heavy metals. Increasing global industrial activity has spurred the demand for effective water treatment solutions, driving up the need for magnesium hydroxide. Its eco-friendly qualities and ability to regulate pH levels make it preferable to traditional chemicals like lime. Additionally, stricter environmental regulations are prompting industries to adopt more sustainable water treatment practices, further boosting the market. As the global focus shifts towards water conservation and recycling, the demand for magnesium hydroxide in this sector is expected to continue rising, making it a key driver of market growth.

The flame retardant industry is a significant contributor to the magnesium hydroxide market's growth. Magnesium hydroxide is popular as a flame retardant additive because it decomposes at high temperatures, releasing water and inhibiting flames. It is widely used in the production of plastics, rubber, and textiles to improve fire resistance. As industries such as automotive, electronics, and construction increasingly prioritize fire safety regulations, the demand for flame retardant materials is growing. Magnesium hydroxide's non-toxic and environmentally friendly nature, compared to halogen-based alternatives, makes it a preferred choice. This trend toward safer flame retardants is driving market growth.

Magnesium hydroxide's role in the pharmaceutical sector is another important driver of market growth. It is commonly used in antacid formulations and laxatives due to its effectiveness in neutralizing stomach acid and relieving constipation. As healthcare industries expand globally, particularly in emerging markets, the demand for these over-the-counter medications is increasing. Additionally, the rising incidence of gastrointestinal disorders due to lifestyle changes has led to higher consumption of magnesium hydroxide-based products. Pharmaceutical companies are also exploring new formulations, broadening its scope of applications. This growing demand in the pharmaceutical industry is expected to boost market growth.

The plastics and rubber industries are major consumers of magnesium hydroxide, particularly for its flame retardant properties. The increasing demand for flame-retardant plastics and rubber in sectors such as automotive, construction, and electronics is driving the use of magnesium hydroxide as a safe and effective additive. It not only improves fire resistance but also enhances the mechanical properties of plastics and rubber, making them more durable. With stricter regulations on fire safety and the growing preference for non-toxic materials, the demand for magnesium hydroxide in these industries is rising. This trend is expected to significantly contribute to overall market growth.

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MAGNESIUM HYDROXIDE MARKET SHARE ANALYSIS

The growth of the magnesium hydroxide market varies across regions, driven by industry demand and regulatory frameworks. In North America, the market is supported by widespread use in water treatment and environmental protection, especially in the U.S. due to stringent environmental regulations. Europe sees strong demand from the flame retardant and wastewater management sectors, fueled by the region's focus on sustainability. In Asia-Pacific, particularly China and India, rapid growth is being driven by industrial expansion, increasing construction activities, and the rising use of magnesium hydroxide in agriculture and chemicals. Meanwhile, in Latin America and the Middle East & Africa, emerging industrial sectors and infrastructure projects are expected to drive moderate but steady growth in the coming years.

Key Companies:

Fonterra
FrieslandCampina
Dairy Farmers of America
Ornua
Saputo
Sodiaal
Arla
Open Country Dairy
Murray Goulburn
Glanbia
Dairygold
Synlait Milk
Uelzena
Westland Milk Products
Valio
Tatua
Prolactal
Lactalis
Lactalis Ingredients

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

- Magnesium Hydroxide for Water Treatment market was valued at USD 355 Million in 2023 and is anticipated to reach USD 496.2 Million by 2030, witnessing a CAGR of 4.5% during the forecast period 2024-2030.

- Magnesium Hydroxide Powder Market

- High Whiteness Ultra Fine Magnesium Hydroxide market was valued at USD 505.2 Million in 2023 and is anticipated to reach USD 740.8 Million by 2030, witnessing a CAGR of 5.3% during the forecast period 2024-2030.

- Magnesium Hydroxide Slurry Market

- Magnesium Hydroxide Flame Retardants market is projected to grow from USD 390.2 Million in 2024 to USD 508.1 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period.

- High Purity Magnesium Hydroxide Market

- USP Grade Magnesium Hydroxide market is projected to reach USD 533.4 Million in 2029, increasing from USD 356 Million in 2022, with a CAGR of 5.0% during the period of 2023 to 2029.

- The global Inorganic Flame Retardant Magnesium Hydroxide market was valued at USD 857.1 Million in 2023 and is anticipated to reach USD 1273.1 Million by 2030, witnessing a CAGR of 5.8% during the forecast period 2024-2030.

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