The global magnesium hydroxide market was valued at approximately USD 992.5 million in 2022 and is expected to reach around USD 1,050.07 million by the end of 2023. By 2033, the market is projected to grow at a compound annual growth rate (CAGR) of 5.8%, reaching a valuation of USD 1,845.32 million.
There is significant potential for companies supplying high-quality magnesium hydroxide for medical and therapeutic applications, particularly as the pharmaceutical and healthcare industries continue to expand. Businesses can capitalize on evolving healthcare needs and an aging population by offering magnesium hydroxide for pharmaceutical formulations.
Additionally, the demand for magnesium hydroxide is being fueled by increasing global environmental regulations in areas such as wastewater treatment and flue gas desulfurization (FGD). Companies that provide eco-friendly solutions can benefit from these regulatory drivers and position themselves as sustainable suppliers.
Key Takeaways from the Market Study:
- The market for magnesium hydroxide expanded at a CAGR of 3.3% from 2018 to 2022.
- The United States market for magnesium hydroxide will account for 34.8% of the market by 2023.
- China is predicted to take a 31.1% share of the global market for magnesium hydroxide in 2023.
- By the end of 2023, Japan’s magnesium hydroxide market will hold a 16.2% share of the global market.
- By 2023, the market for magnesium hydroxide in France is expected to grow by 8.3%.
- By 2023, it is anticipated that the magnesium hydroxide market in the United Kingdom will have a 7.4% market share.
- Industrial magnesium hydroxide is anticipated to increase its market share to 25.8% in 2023.
- In 2023, it is anticipated that this magnesium hydroxide used in the environment will have a 42% market share.
Competitive Landscape
Many businesses try to diversify their product lines by offering a variety of magnesium hydroxide grades as well as formulations suited to various sectors and uses. They can get a bigger market share and produce more substantial income through catering to a variety of customer requirements.
Key companies profiled
- Xinyang Mineral Group
- Martin Marietta Materials Inc.
- Premier Magnesia, LLC
- Kyowa Chemical Industry Co. Ltd.
- Nedmag Industries Mining & Manufacturing B.V.
- Huber Engineered Materials
- Israel Chemicals Ltd.
- Tateho Chemical Industries Co., Ltd.
- Ube Industries Ltd.
- Nabaltec AG
- Konoshima Chemicals Co. Ltd.
- Lehmann & Voss & CO. KG
Segmentation Analysis of the Magnesium Hydroxide Market
By Grade:
- Food/Pharma
- Technical/Industrial
By Application:
- Environmental
- Flue-gas Desulphurisation
- Wastewater Treatment
- Pharmaceuticals
- Chemicals & Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/magnesium-hydroxide-market
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