Magnesium hydroxide is a chemicalcompound that appears white in color and occurs naturally as mineral brucite.It is used as an antacid to relieve from the medical condition associated withthe gastrointestinal such as bowel movement, indigestion, sour stomach, andgastric formation. Magnesium hydroxide also has smoke suppressing and flameretardant properties which makes it suitable across fire retardant application.Magnesium hydroxide is also used in wastewater treatment and flue gasdesulphurization. Moreover, it is also used in pulp and paper industry as a celluloseprotector and alternative neutralizing agent.
The global MagnesiumHydroxide Market was estimated to account for US$ 651.4 million in terms ofrevenue in 2018 and is predicted to grow at a CAGR of 5.8% during the forecastperiod (2019 to 2027).
Drivers
Growing demand for magnesiumhydroxide in wastewater treatment due to the rising need for high quality andclean water is expected to people the market growth of magnesium hydroxide.Magnesium hydroxide is highly alkaline in nature that helps to reduce thesludge volume in water. Growing population base rate, ongoing urbanization, andbooming oil & gas industry around the globe is also expected to foster themarket growth of magnesium hydroxide. According to the American Society ofCivil Engineers, the estimated wastewater treatment spending in the U.S. isexpected to increase to US$ 78 Billion by 2020 from around US$ 40 Billion in2010.
Market Opportunities
Increasing demand for magnesiumhydroxide from the electronics industry where it is used as a protective filmfor plasma display screens is expected to accelerate the market growth ofmagnesium hydroxide. Moreover, high purity grade of magnesium hydroxide is alsoused in the development of thin-film semiconductors and researchers are investigatingother similar electronic application of magnesium hydroxide will further favorthe market growth over the forecast timeframe.
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Market Restraints
Another major disadvantage ofmagnesium hydroxide is that for effective flame retardancy require high loadinglevels of metals which is expected to restrict the market growth of magnesiumhydroxide. Raising the loading of inorganic metal hydroxides may result in adecrease in physical and chemical properties of metals and this can impact thethermal and flame retardancy properties. The aforementioned factors areexpected to curb the market growth of magnesium hydroxide.
Key Takeaways
Among application, environmentaldominated the global magnesium hydroxide market in 2018 with a 62.8% of marketshare in terms of volume, followed by chemicals & others and flameretardants, respectively.
Market Trends
The ongoing trend of acquisitionand merger for magnesium hydroxide by the manufacturer of flame retardant hasbeen observed in the global magnesium hydroxide market. Since magnesiumhydroxide is considered as a potential alternative to halogenated flameretardant products manufacturers are highly engaged to tap the potential growthopportunity in magnesium hydroxide. This ongoing trend is expected to stimulatemarket growth over the forecast period. For instance, in December 2015, HuberEngineering Materials acquired Albemarle Corporation’s Martinswerk mineralflame retardants and specialty chemical business, which includes Magnifin, apremium precipitated magnesium hydroxide product line.
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The growing focus of manufacturefor expanding the production facility of magnesium hydroxide will positivelyimpact the market growth of magnesium hydroxide. For instance, in January 2020,The Board of Directors of MAGNIFIN Magnesiaprodukte approved the preparatorywork for the construction of a second MAGNIFIN Magnesiaprodukte productionsite. This planned significant investment is driven to meet rising globaldemand for high-purity, halogen-free magnesium hydroxide fire retardants.Therefore, increasing such initiatives by the manufacture for meeting therising demand for magnesium hydroxide is expected to accelerate market growth.
Competitive Section
Key players active in the globalmagnesium hydroxide are Nedmag Industries Mining & Manufacturing B.V.,Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd.,Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd, Baymag Inc.,Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin MariettaMaterials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel ChemicalsLtd., and Premier Magnesia LLC.
Few Recent Developments
Huber Engineering Materials
In February 2016, Companyacquired Albemarle Corporation’s Martinswerk business, which includes itsproduction facility in Bergheim, Germany, and Magnifin, a precipitatedMagnesium hydroxide product line
In June 2015, the companyacquired patented Safire Nitrogen and Phosphorus technology from FloridienneGroup and integrated it with its halogen-free flame retardant portfolio
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