Consistently increasing demand for magnesium hydroxide for wastewater treatment is expected to shape the growth of the global magnesium hydroxide market during the forecast period (2020-2030). Although the COVID-19 pandemic is likely to hinder market growth during the first half of the forecast period, the global magnesium hydroxide market is projected to attain a market value of US$ 850 Mn by the end of 2030. As per the latest study published by Future Market Insights (FMI), the COVID-19 pandemic is likely to have a short-term impact on the growth prospects of the global magnesium hydroxide market.
At present, applications of magnesium hydroxide extend beyond wastewater treatment, as it is being increasingly being used for an array of applications including gold mining, warehouses, antacid, thermal conduction, and the wet pallet collodion process among others.
To Get Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1585
Key Takeaways of Magnesium Hydroxide Market
- Magnesium hydroxide emerges as an ideal substitute for lime and caustic soda in wastewater treatment
- Brine/seawater precipitation would remain the most prominent manufacturing process due to its long-term economic benefits
- Soaring demand for technical/industrial grade magnesium hydroxide expected to provide impetus to market growth
- South Asia and East Asia remain in the vanguard in terms of market growth; key market players likely to focus on tapping onto the opportunities in these regions
- Surge in demand for environmental applications will assist market growth. Widening applications in the chemical sector will provide a boost to the market growth
High Demand for Wastewater Treatment Projected to Augment Market Growth
Over the past couple of decades, magnesium hydroxide is increasingly being used for wastewater treatment applications across the developed as well as the developing regions. As governments across the world continue to emphasize on improving wastewater treatment techniques, magnesium hydroxide has emerged as an ideal candidate. At present, due to the advantages presented by magnesium hydroxide slurry, its adoption is projected to outpace that of lime and caustic soda.
In addition, apart from being an ideal alternative for wastewater treatment, magnesium hydroxide is extensively being used for acid neutralization of industrial wastewater. As the industrial applications of magnesium hydroxide expand, the industrial-grade magnesium hydroxide will gain stronger traction to capture a higher revenue share in the global market.
Short-term Ramifications of COVID-19 Pandemic
FMI study states that the COVID-19 pandemic is expected to have a short-term impact on the overall growth prospects of the global magnesium hydroxide market. The market study predicts that the demand will remain sluggish during the coronavirus outbreak as the governments across the world continue to enforce trade restrictions due to which, market players are expected to address the supply chain challenges put forward by the crisis.
Magnesium Hydroxide Market: Taxonomy
The global magnesium hydroxide market is classified in detail to cover every single aspect of the market and deliver complete market intelligence to the reader.
Grade
- Food/Pharma
- Industrial/Technical
Application
- Environmental
- Flue-gas Desulphurisation
- Wastewater Treatment
- Pharmaceuticals
- Chemicals & Others
- Flame Retardants
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
For Information On The Research Approach Used In The Report, Request TOC@ https://www.futuremarketinsights.com/toc/rep-gb-1585
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/