Magnesium Hydroxide Market to Reach US$1.3 Billion by 2027: IndustryARC
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The increasing demand for dyspepsia medicines is fueling the demand for Magnesium Hydroxide Market
HYDERABAD, TELANGANA, INDIA, December 7, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Magnesium Hydroxide Market size is projected to reach US$1.3 billion by 2027, after growing at a CAGR of 5.6% during the forecast period 2022-2027. Natural magnesium hydroxide is found in the mineral brucite. It is typically present in antacids like the milk of magnesia. The key properties of magnesium hydroxide include superior adsorption, high activity, non-cohesive, non-precipitating, good fluidity & ease of pumping, storing, using and adjusting. As a result, magnesium hydroxide is utilized in various applications, including water treatment, food additives, flame retardants and more. The growth of the wastewater treatment plants is the primary factor driving the magnesium hydroxide market growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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https://www.industryarc.com/Research/Magnesium-Hydroxide-Market-Research-504404
Key takeaways:
This IndustryARC report on the Magnesium Hydroxide Market highlights the following areas -
1. The Asia-Pacific dominated the Magnesium Hydroxide Market, owing to the growth of the wastewater treatment connections in the region. For instance, according to the Organisation for Economic Co-operation and Development (OECD), in South Korea, the sewage connection rate saw growth in 2018, was 93.55% and in 2020, it increased to 93.91%.
2. The surging adoption of natural Magnesium Hydroxide (brucite) as a fire retardant for the ethylene-vinyl acetate copolymer is creating an opportunity for the Magnesium Hydroxide market growth.
3. Moreover, the recent expansion strategies, including acquisitions, a new manufacturing base and other such strategies adopted by the Magnesium Hydroxide manufacturers are accelerating the market growth.
4. However, the availability of Magnesium Hydroxide substitutes in the market may restrict the market growth during the forecast period of 2022-2027.
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Segmental Analysis:
1. The industrial grade segment held the significant Magnesium Hydroxide Market share in 2021 and is expected to grow at a CAGR of 5.7% during the forecast period 2022-2027. The industrial grade of magnesium hydroxide has several crucial properties such as a molecular weight of 58.3197 g/mol, a melting point of 350 degrees and more.
2. Asia-Pacific is the dominating region as it held the largest Magnesium Hydroxide Market share in 2021 up to 43%. The economic growth of the Asia-Pacific region is booming due to the growth of the various industries in the region, including wastewater treatment, food, medical & healthcare and more. The government initiatives for wastewater treatment, industrial investments and other factors are proliferating the wastewater treatment industry growth in the Asia-Pacific region.
3. The wastewater treatment segment held the largest Magnesium Hydroxide Market share in 2021 and is projected to grow at a CAGR of 5.9% during the forecast period 2022-2027. Magnesium hydroxide is used in the wastewater treatment industry to prevent scaling in water pipes through controlled struvite precipitation. The addition of magnesium hydroxide improves sludge dewatering and sludge quality. Magnesium hydroxide prevents corrosion because it contains no chlorides.
Competitive Landscape:
The top 5 players in the Magnesium Hydroxide Industry are -
1. Kyowa Chemical Industry Co. Ltd.
2. Konoshima Chemical
3. Akzo Nobel N.V.
4. Albemarle Corporation
5. Almatis GmbH
Click on the following link to buy the Magnesium Hydroxide Market Report:
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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.
Related Reports:
A. Industrial Waste Water Treatment Chemicals (IWTC) Market
https://www.industryarc.com/Report/18225/industrial-waste-water-treatment-chemicals-iwtc-market-research-analysis-report.html
B. Water Treatment Chemicals Market
https://www.industryarc.com/Report/18612/water-treatment-chemicals-market.html
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