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Global Magnesium Hydroxide Market Insight2022-01-28 Comments
The Magnesium Hydroxide is forecast to stable increase over the next few years. According to the WK-chem Research “Global Magnesium Hydroxide Professional Survey Report 2022, Forecast to 2027”, With the rapid improvement of Wastewater treatment industry and the impact of the COVID-19, the Chemistry & Materials industry is developing at an rise speed. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.25% base on WK-chem Research regression analysis model.
“Magnesium hydroxide is an inorganic compound obtained by precipitation between magnesium salts and sodium, potassium or ammonium hydroxide.” said Aggie, Senior analyst, Chemistry & Materials Market Research Center in WK-chem Research. “Reduced side effects after product use to adapt to the rapid development of the market.”
Magnesium hydroxide is a synthetic chemical. Commercial and industrial Magnesium hydroxide is chemically created from the chemistry of seawater active brine and is known as milk of magnesia due to its milk-like appearance. The compound is not easily soluble in water. It has properties such as flame retardancy, low corrosiveness and low toxicity. Due to its unique properties, the product is commonly used in painter fuel power plants, and water treatment. The increasing use of this product in industries such as pharmaceuticals and healthcare is driving the growth of the Magnesium hydroxide market, which was developed for antiperspirant. Deodorants are used on a large scale by the younger generation. The wide range of usability and practicality is the reason why this product has a large market.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Magnesium Hydroxide companies that include Huber Engineered Materials, Israel Chemical Company, Nedmag B.V., Konoshima Chemical Co. Ltd., Ube Materials Industry, Martin Marietta Materials, Kyowa Chemical Industry Ltd., Xinyang Minerals Group, and Niknam Chemicals Private Limited.
Segmentation of Magnesium Hydroxide Market:
According to the product grade type, magnesium hydroxide can be divided into flame retardant grade, industrial grade and pharmaceutical grade. Among them, the pharmaceutical grade occupies the main market due to its large dosage. Due to its low price, low corrosiveness and extremely low toxicity, the demand for industrial grade of this product is also increasing.
According to the product application, the product market is divided into pharmaceutical industry, health industry, industry, the product is widely used in the pharmaceutical industry, and the main application is as a common ingredient in laxatives and antacids. Magnesium hydroxide should not be taken daily, but very occasionally. It is mainly used to reduce stomach acid. The compound is also used as an antiperspirant underarm deodorant. Milk of magnesia is sold as liquid suspensions, chewable tablets and capsules, and as liquid syrups in various flavors. It is mainly used in systems for eliminating indigestion and heartburn, occupying major industry markets.
Magnesium Hydroxide Market: Regional Analysis
In terms of geography, the global Magnesium Hydroxide market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The Asia-Pacific region dominates, due to the product’s high usage in developing countries due to its high performance, low price, low corrosiveness, and non-toxic compounds. The product’s market is the largest in China, due to the The increase in the number of fossil fuel power plants and the high demand for this product in Japan is also expected to continue rapid growth in the coming years. Markets for this product are mature in North America and Europe and are not expected to grow significantly over the forecast period.
Largest share area：Asia Pacific
Largest share country：China
Product Type(by grade)：flame retardant grade, industrial grade and pharmaceutical gradeApplication：pharmaceutical industry, health industry, industryLeading Company：Huber Engineered Materials, Israel Chemical Company, Nedmag B.V., Konoshima Chemical Co. Ltd., Ube Materials Industry