Fire Retardants Segment Is The Largest Segment Driving The Growth Of Magnesium Hydroxide Market
SWOT Analysis
Strengths: Environment friendly and cost effective flame retardant. Wide applications in industrial and construction sectors.
Weaknesses: Limited resources and production constraints. Dependence on imports in many countries.
Opportunities: Increasing demand from emerging economies due to rapid industrialization. Growing use in plastic compounds and wire insulation.
Threats: Availability of substitute flame retardants. Fluctuating magnesium prices impacting production costs.
Key Takeaways
The Global Magnesium Hydroxide Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing use of magnesium hydroxide as an environmentally friendly flame retardant.
Regionally, Asia Pacific dominated the global magnesium hydroxide market in 2023, owing to rapid industrial growth, improving economic conditions, and rising consumption in China, India, Japan and other developing Asian countries. China represents largest producer and consumer of magnesium hydroxide globally.
Key players operating in the magnesium hydroxide market are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd., Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin Marietta Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.
Read More - https://www.blogger.com/blog/post/preview/646941044103500082/8574193730837290515
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