Global Magnesium Hydroxide Market to Record Robust Compound Annual Growth Rate during 2021

Magnesium is a naturally sourced mineral and is very important for the functioning of many systems in the body especially muscles and nerves. Magnesium hydroxide is an inorganic compound and is obtained by precipitation between magnesium salts and sodium, potassium or ammonium hydroxide. Brucite is a form of natural magnesium and is used for commercial purposes as a fire retardant. The commercial and industrial magnesium hydroxide is chemically manufactured from sea water or brine. As a suspension in water, magnesium hydroxide is called as milk of magnesia owing to its milk-like appearance. This compound has very less solubility in water.

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The main application of magnesium hydroxide is as a common component of laxatives and of antacids. Magnesium hydroxide should not be taken on a daily basis but very occasionally. It is primarily used to reduce stomach acid. This compound is also used as an antiperspirant underarm deodorant. Milk of magnesia is sold as a liquid suspension, chewable tablets, and capsules as liquid syrups in a variety of flavors. It is mainly used to rid the system of indigestion and heartburn. Magnesium hydroxide powder also finds is application in industrial purposes as a non-dangerous alkali in order to neutralize acidic wastewater. The compound is also used in desulphurization.

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The main market driver for this product is its use in the health industry. the demand for this product is high in end use industries which is the pharmaceutical industry. as it is used as a antiperspirant deodorant, its demand is high among the younger generation. The pharmaceutical industry is growing at a very high rate and hence the demand for this product will also increase to a high extent. The largest end user for magnesium hydroxide beside the pharmaceutical industry is desulphurization and the water treatment industry. countries are shifting to fossil-fuel based power plants which will in turn increase the consumption of magnesium hydroxide for desulphurization. Owing to its flame retardant properties it is a fast growing application globally due to its performance, price, low corrosiveness and its extremely low toxicity.

The key segments observed for this market include North America, Europe, Asia Pacific and Rest of the World (RoW). The global consumption of this compound is mainly concentrated in East Asia and North America. The market for this product is maximum n China and is expected to continue growing at a fast pace over the next few years as well. the market for this product in north America and Europe is mature and is not expected to grow by a huge margin over the forecast period. However, the demand for this product in Japan is high and is expected to accelerate over the next few years due to the increase in the number of fossil fuel power plants there. Its use as a fuel retardant also has increased its demand in the global market especially in the developing counties. The use of this product is increasing at a high pace in developing countries due to its good performance, low price, low corrosiveness and as it is a non toxic compound. North American and European governments do not have very stringent rules and regulations against its use.

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The key companies profiled for the manufacture of magnesium hydroxide are aAkzoNobel, Albemarle Corporation, Almatis GmbH, BASF SE, Chemtura Corporation, China Minmetals Nonferrous metals, Cyter Industries, Israel Chemicals among others.

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