Magnesium Hydroxide Market Is Estimated To Witness High Growth
SWOT Analysis
Strength: Magnesium hydroxide offers high chemical stability, resistance to acids, and fire-retardant properties. It has high neutralizing capability and provides protection from acid rain. It is widely used as an industrial absorbent and flame retardant.
Weakness: Production of magnesium hydroxide requires extensive mining activities which can harm the environment. High transportation and logistics costs associated with magnesium hydroxide contribute to overall production expenses.
Opportunity: Increasing demand from application industries such as environmental protection, flame retardancy, medical & pharmaceuticals, and construction provides new growth opportunities. Growing concerns regarding industrial safety and fire protection boost the magnesium hydroxide market.
Threats: Volatile raw material prices and uncertainty regarding their future supply pose challenges. Stringent government regulations pertaining to mining activities restrict market expansion.
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 demand from end-use industries such as environmental protection, flame retardancy, medical & pharmaceuticals, and construction.
Regional analysis: Asia Pacific dominates the global magnesium hydroxide market and is expected to continue its dominance over the forecast period. Large production bases and growing use in end-use industries in China, India, and Japan drive the regional market.
Key players: 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.
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