Magnesium Hydroxide Market, By Type (Chemical Synthesis Method and Physical Method), By Grade (Retardants Grade, Industrial Grade, and Pharmaceutical Grade), By Application (Refractory, Agriculture, Chemical Intermediates, Construction, Pharmaceutical, Food, and Pulp and Paper), and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI40619 | Publish Date: March 2024 | No. of Pages: 190

Global Magnesium Hydroxide Market By Overview

Introduction:

Magnesium Hydroxide Market was valued at US$ 1.1 billion in 2024 and is projected to grow at a CAGR of 7.0% to reach US$ 2.0 billion by 2034.

Magnesium hydroxide is a naturally occurring inorganic compound with the chemical formula Mg(OH)?. It's also known as milk of magnesia, brucite, and magnesium hydrate. It is produced commercially from seawater or magnesium chloride solutions. It is a white, odorless, tasteless solid with low solubility in water.Magnesium hydroxide has a variety of uses across various industries, including as a smoke and flame retardant used in plastics, textiles, and other materials. It is used as a fire retardant additive in building materials and for pH control in cement production. Waste water treatment, agricultural supplements, food additives and magnesium production are some other major applications of magnesium hydroxide. Diverse applications across various industries has been a major factor of growing demand in magnesium hydroxide market in recent years.Medical Applications of magnesium hydroxide include as a common ingredient in over-the-counter laxatives like Milk of Magnesia as well as an antacid for neutralizing stomach acids and relieve heartburn. It is also used as a topical ointment for sores and as deodorizer due to its mild alkaline properties.

Growing demand for eco-friendly alternatives in flame retardants and wastewater treatment, as well as research on harnessing nanostructured magnesium hydroxide for drug delivery, catalysis, and energy storage are the major factors behind the growing trend in the magnesium hydroxide market. Manufacturers are exploring ways to produce magnesium hydroxide more sustainably, using recycled materials and minimizing environmental impact. This is also seen to have a positive impact on demand in the magnesium hydroxide market.With an annual production of 17 million tons, China is the world's largest producer of magnesite, accounting for 63% of the global output. With the greatest magnesium reserves in the world, China has become a leading producer of magnesium over the last 20 years. 3.78 billion cubic meters of raw wastewater were released into the Chinese environment in 2015; 1.98 million of those cubic meters were from Beijing alone. In China, wastewater from 28% of rural regions and 98.1% of municipalities is treated by water treatment plants as of 2021. Such massive volumes of untreated sewage are being countered by eco-friendly treatment options like Mg(OH)? which is expected to cause exponential growth in magnesium hydroxide market.

Introduction - Magnesium Hydroxide Market

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Global Magnesium Hydroxide Market By Dynamics

Drivers of the Magnesium Hydroxide Market:      

  • Increased demand across various industries:

Magnesium hydroxide is widely used as an antacid and laxative, and its demand is expected to increase with rising geriatric population and increasingly unhealthy diets. Beyond pharmaceutical applications it also plays a crucial role in wastewater treatment, flue gas desulfurization, and soil remediation. In food and agriculture industries it is used as an anti-caking agent in animal feed, an additive and preservative in edible items as well as a magnesium supplement in fertilizers, boosting its demand in these sectors.

Magnesium hydroxide acts as a flame retardant in building materials, and its demand is likely to rise with urbanisation and growing construction activities globally. Recently Nanostructured magnesium hydroxide (nMg(OH)2) has emerged as a highly promising material with immense potential across various fields like drug delivery, catalysis, and energy storage. The nanostructured nature of nMg(OH)2 provides a large surface area and numerous active sites for catalysis. nMg(OH)2 can adsorb or encapsulate a wide range of drugs, protecting them from degradation and delivering them effectively to the target sites.

Recent push for environmentally tolerable raw materials, advancement in drug delivery systems and urbanisation are key factors of expansion in magnesium hydroxide market.

In the US, there are more than 16,000 publicly owned wastewater treatment facilities and around 153,000 public drinking water systems. Chemical treatment of sewage in these units sees extensive use of magnesium hydroxide, directly contributing to

  • Growing demand for eco-friendly alternatives:

Because it is non-toxic and safe, magnesium hydroxide is chosen over potentially harmful alternatives when it comes to wastewater treatment and flame retardants. There is a lot of room for advancement in the study of using nanostructured magnesium hydroxide for energy storage, catalysis, and medication administration. Producers are looking into ways to use recycled resources and reduce their environmental impact while producing magnesium hydroxide in a more sustainable manner. There will likely be an increase in demand for magnesium hydroxide in compliance solutions as rules pertaining to wastewater treatment and pollutant emissions become more stringent.

Restrains:                                   

  • Availability of Substitute Products: Other alkaline bulk chemicals like sodium and calcium hydroxide can act as substitutes, potentially hindering market growth.
  • Fluctuations in Raw Material Prices: Magnesium hydroxide production relies on magnesium oxide and seawater, whose price fluctuations can impact market stability.

Key Opportunities in Magnesium Hydroxide Market:

  • Growing Industrial Applications: Magnesium hydroxide is used in a number of industries, including rubber, plastics, electronics, and agriculture, which opens up new markets for the product.
  • Development of Novel Applications: Opening up new growth channels can be achieved by investigating the potential of magnesium hydroxide in novel applications such as flame retardants, construction materials, and cosmetics.
  • Emerging Markets: There is a lot of room for expansion due to the increased consumption in developing nations like China and India, which is being driven by industrialization and advances in healthcare.

Global Magnesium Hydroxide Market By Segmentation

Magnesium Hydroxide Market is segmented based on based on by Type, by grade, by Application, by End User and Region.

Type Insight

  • Chemical Synthesis Method- Currently holds the larger market share, estimated at around 65-70% in 2023. It is expected to maintain its dominance and grow at a steady rate throughout the forecast period as it offers better control over purity and particle size during manufacture, which is crucial for specific applications.
  • Physical Method- Holds a smaller share of the magnesium hydroxide market, estimated at around 30-35% in 2023. However, it is expected to witness faster growth due to its lower cost and simpler production process. As it is suitable for large-scale production of standard-grade magnesium hydroxide it is expected to positively impact the target market.

Grade Insights

  • Retardants Grade- This segment holds the largest share, estimated at around 35-40% of the total magnesium hydroxide market in 2023 and is expected to grow substantially in the forecast period due to growing demand for fire-resistant materials in construction and transportation industries.
  • Industrial Grade- Represents 25-30% of the market share. This segment is projected to grow rapidly during the forecast period. Increasing use in wastewater treatment for neutralization and phosphorus removal will drive demand in this sector.
  • Pharmaceutical Grade- Currently this segment holds the smallest share, around 15-20% of the market but it is expected to show the fastest growth during the forecast period.

Application Insights

  • Refractory- The refractory segment is the largest consumer of magnesium hydroxide, accounting for about 50% of the global market. Its demand is in high-temperature applications such as steelmaking, cement production, and glass melting
  • Agriculture- The agriculture segment is the second-largest consumer of magnesium hydroxide, accounting for about 30% of the global market. Increasing demand in this segment in coming years will be driven by the increasing awareness of the importance of magnesium for plant and animal health.
  • Chemical Intermediates- The chemical intermediates segment is the third-largest consumer of magnesium hydroxide, accounting for about 20% of the global market.

The demand for magnesium hydroxide in chemical intermediates is expected to grow over the next few years, driven by the increasing demand for these chemicals in a variety of industries.

  • Construction- The construction segment is a small but growing consumer of magnesium hydroxide, accounting for about 5% of the global market. In construction sector magnesium hydroxide is in demand   as a flame retardant in building materials, such as plastics, textiles, and wood.
  • Pharmaceutical- The pharmaceutical segment is a small but growing consumer of magnesium hydroxide, accounting for about 5% of the global market.
  • Food- The food segment is a small but steadily growing segment of magnesium hydroxide market, accounting for about 3% of the global market.
  • Pulp and Paper- The pulp and paper segment is a small but mature segment of the target market, accounting for about 2% of the global magnesium hydroxide market.

Regional Insights:

Regional - Magnesium Hydroxide Market

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

 Magnesium Hydroxide Market Regional Insights:

On region the Magnesium Hydroxide Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

  • Asia Pacific market currently holds the dominant market shares accounting for almost 50% of the global Magnesium Hydroxide Market driven by rapid urbanization, rising disposable incomes, and booming waste water treatment industry. Currently this region witnesses the largest amount of construction of flame retardant infrastructure which is another major driver for market expansion.
  • North America market is expected to witness the fastest growth in the Magnesium Hydroxide Market during the forecast period due to rise in public environmental awareness and growing stringency in environmental and urban construction regulations.
  • Europe has developed economies and well-established industries and production plants hence it maintains the third largest share of the Magnesium Hydroxide Market. The growing use of magnesium hydroxide in various industries as a chemical intermediate is expected to further drive the focussed market.
  • Latin America has smaller market shares but offers significant potential for future growth due to expanding economies and investment in construction infrastructure and agriculture as well as production endeavours. Growth is fuelled by rapid urbanization and industrialization leading to more emphasis on water treatment in urban areas.
  • Middle East & Africa: The Magnesium Hydroxide Market in this region is relatively small but is expected to witness significant growth in the coming years, driven by several factors such as the rapid advancement in technology and growing infrastructure development and increasing size of food processing, paper making and agricultural soil remediation as well as animal feed manufacturing industries.

Report Scope:

Attribute

Details

Market Size 2024

US$  1.1 billion

Projected Market Size 2034

US$ 2.0 billion

CAGR Growth Rate

7.0%

Market Segmentation

By Type- Chemical Synthesis Method and Physical Method

By Grade- Retardants Grade, Industrial Grade, and Pharmaceutical Grade

By Application- Refractory, Agriculture, Chemical Intermediates, Construction, Pharmaceutical, Food, and Pulp and Paper

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Magnesium Hydroxide Market report based on By Product Type, by Grade, By Application, and Region:

Magnesium Hydroxide Market, By Type:

  • Chemical Synthesis Method
  • Physical Method

Magnesium Hydroxide Market By Grade

  • Retardants Grade
  • Industrial Grade
  • Pharmaceutical Grade

Magnesium Hydroxide Market, By Application:

  • Refractory
  • Agriculture
  • Chemical Intermediates
  • Construction
  • Pharmaceutical
  • Food
  • Pulp and Paper

Magnesium Hydroxide Market, By Region:

  • North America

    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Magnesium Hydroxide Market By Key Players

The key players operating the Magnesium Hydroxide Market includes, Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG, Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemical Co. Ltd., Tateho Chemical Industries Co., Ltd, Baymag Inc., Sakai Chemical Industries Co. Ltd, Lehmann & Voss CO. & KG., Martine Marietta Materials Inc., Xinyang Minerals Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.

Global Magnesium Hydroxide Market By Key Issues Addressed

Recent Development:

  • In January 2022, Huber Engineered Materials (HEM) purchased 50% of MAGNIFIN Magnesiaprodukte GmbH & Co., a company owned by RHI Magnesita (RHIM). The business's magnesium hydroxide market share will rise as a result of this acquisition. Martinswerk GmbH distributes MAGNIFIN products worldwide through its HEM Fire Retardant Additives (FRA) strategic business unit, which produces a variety of halogen-free fire retardants, smoke suppressants, and specialty aluminum oxides.
  • In July 2022, CJSC NikoMag, a Nikokhim group subsidiary, stated that the plant's capacity would be increased from 25,000 to 40,000 tons annually.
  • In August 2022, Plastikon Healthcare, LLC introduced Lot 20076A. It is an oral suspension that contains 120 mg of simethicone, 1200 mg of magnesium oxide, and 1200 mg of aluminum oxide.

Global Magnesium Hydroxide Market By Company Profile

  • Nedmag Industries Mining & Manufacturing B.V*
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nabaltec AG
  • Huber Engineering Materials
  • Kyowa Chemical Industry Co. Ltd
  • Konoshima Chemical Co. Ltd.
  • Tateho Chemical Industries Co. Ltd
  • Baymag Inc.
  • Sakai Chemical Industries Co. Ltd
  • Lehmann & Voss CO. & KG.
  • Martine Marietta Materials Inc.
  • Xinyang Minerals Group

 “*” marked represents similar segmentation in other categories in the respective section.

Global Magnesium Hydroxide Market By Table of Contents

Research Objective and Assumption

  • Preface
  • Research Objectives
  • Study Scope
  • Years Considered for the study
  • Assumptions
  • Abbreviations

Research Methodology

  • Research data
  • Primary Data
    • Primary Interviews
    • Primary Breakdown
    • Key data from Primary Sources
    • Key Thickness Insights
  • Secondary Data
    • Major Secondary Sources
    • Secondary Sources
  • Market Estimation
  • Top-Down Approach
    • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
  • Bottom-Up Approach
    • Approach for estimating market share by Bottom-up Analysis (Demand Side)
  • Market Breakdown and Data Triangulation
  • Research Assumptions

Market Preview

  • Executive Summary
  • Key Findings—Global Outlook for medical carts Strategies
    • Key Questions this Study will Answer
    • Market Snippet, By Type
    • Market Snippet, By Grade
    • Market Snippet, By Application
    • Market Snippet, By Region
  • Opportunity Map Analysis
  • Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

  • Market Dynamics
    • Drivers
    • Restrains
    • Market Opportunities
    • Market Trends
  • DR Impact Analysis
  • PEST Analysis
  • Porter’s Five Forces Analysis
  • Opportunity Orbit
  • Market Investment Feasibility Index
  • Macroeconomic Factor Analysis

Market Segmentation, By Type, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Chemical Synthesis Method
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Physical Method
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Grade, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Retardants Grade
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Industrial Grade
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Pharmaceutical Grade
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Refractory
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Agriculture
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Chemical Intermediates
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Construction
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Pharmaceutical
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Food
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Pulp and Paper
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Grade, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • U.S.
      • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Grade, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Grade, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Grade, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Grade, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East

Competitive Landscape

  • Heat Map Analysis
  • Market Presence and Specificity Analysis

Company Profiles

  • Nedmag Industries Mining & Manufacturing B.V.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nabaltec AG
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Huber Engineering Materials
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Kyowa Chemical Industry Co. Ltd
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Konoshima Chemical Co. Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tateho Chemical Industries Co., Ltd
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Baymag Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sakai Chemical Industries Co. Ltd
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Lehmann & Voss CO. & KG.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Martine Marietta Materials Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

Magnesium Hydroxide Market accounted for US$ 992.5 million in 2022 and is estimated to be US$ 1838.5 million by 2032 and is anticipated to register a CAGR of 6.0%.

Magnesium Hydroxide Market is segmented based on Type, Grade, Application and Region.

The Magnesium Hydroxide market is primarily driven by its increasing use as a flame retardant in various industries, including plastics, rubber, and construction materials. Additionally, its applications in wastewater treatment, pharmaceuticals, and flue gas desulfurization contribute to the market's growth.

The restraints in the Magnesium Hydroxide market may include challenges related to the availability of raw materials, the relatively high production cost, and competition from alternative flame retardants. Additionally, the impact of economic downturns on construction activities and the regulatory landscape can pose obstacles to market expansion globally.

The report segments the target market into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, the North America market is anticipated to dominate the Magnesium Hydroxide Market, experiencing a notably high revenue share throughout the forecast period.

Key players operating in the global magnesium hydroxide market includes Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG, Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemical Co. Ltd., Tateho Chemical Industries Co., Ltd, Baymag Inc., Sakai Chemical Industries Co. Ltd, Lehmann & Voss CO. & KG., Martine Marietta Materials Inc., Xinyang Minerals Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.