Portland, OR, Sept. 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global magnesium hydroxide market garnered $0.6 billion in 2021, and is estimated to generate $1.1 billion by 2031, manifesting a CAGR of 5.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.6 billion |
| Market Size in 2031 | $1.1 billion |
| CAGR | 5.7% |
| No. of Pages in Report | 281 |
| Segments covered | Form, Application, and Region. |
| Drivers | Increase in demand for magnesium hydroxide for various applications, such as environmental protection, flame retardance, and pharmaceutical |
| Opportunities | Rise in demand for magnesium hydroxide in the steel industry |
| Restraints | Availability of substitutes |
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Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global magnesium hydroxide market.
- The pandemic adversely hit the electronic industry globally, causing tremendous loss to businesses, which cannot be quantified. This, in turn, hampered the growth of the overall market of magnesium hydroxide.
- On the other hand, demand for magnesium hydroxide in the pharmaceutical industry for short-term treatment of constipation in children and adults remained steady. Due to the COVID 19 outbreak, the pharmaceutical sector has grown to a great extent. Thus the growing demand from pharmaceutical sector is predicted to drive the global magnesium hydroxide even more in the post-pandemic.
The research provides detailed segmentation of the global magnesium hydroxide market based on form, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on form, the slurry segment held the highest share in 2021, accounting for more than half of the global magnesium hydroxide market, and is expected to continue its leadership status during the forecast period. However, the others segment is expected to register the highest CAGR of 6.6% from 2022 to 2031.
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Based on application, the wastewater treatment segment accounted for the highest share in 2021, contributing to nearly one-third of the global magnesium hydroxide market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the others segment is expected to manifest the highest CAGR of 7.4% from 2022 to 2031.
Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly two-fifths of the total magnesium hydroxide market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 6.7% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading market players of the global magnesium hydroxide market analyzed in the research include Albemarle Corporation, Elementis, Huber Engineered Materials, Kisuma Chemicals B.V, Konoshima Chemical Co, Kyuwa Chemicals, Loba Chemie Pvt. Ltd, Martin Marietta Materials Ltd, Nedmag B.V, Osian Marine Pvt Ltd, Premier Magnesia LLC, Tateho Chemicals Industriess Co. Ltd, TIMAB Magnesium, Ube Materials Industries Ltd., and Xinyang Mineral Group.
The report provides a detailed analysis of these key players of the global magnesium hydroxide market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
