Magnesium hydroxide is a chemical
compound that appears white in color and occurs naturally as mineral brucite.
It is used as an antacid to relieve from the medical condition associated with
the gastrointestinal such as bowel movement, indigestion, sour stomach, and
gastric formation. Magnesium hydroxide also has smoke suppressing and flame
retardant properties which makes it suitable across fire retardant application.
Magnesium hydroxide is also used in wastewater treatment and flue gas
desulphurization. Moreover, it is also used in pulp and paper industry as a cellulose
protector and alternative neutralizing agent.
The global Magnesium
Hydroxide Market was estimated to account for US$ 651.4 million in terms of
revenue in 2018 and is predicted to grow at a CAGR of 5.8% during the forecast
period (2019 to 2027).
Drivers
Growing demand for magnesium
hydroxide in wastewater treatment due to the rising need for high quality and
clean water is expected to people the market growth of magnesium hydroxide.
Magnesium hydroxide is highly alkaline in nature that helps to reduce the
sludge volume in water. Growing population base rate, ongoing urbanization, and
booming oil & gas industry around the globe is also expected to foster the
market growth of magnesium hydroxide. According to the American Society of
Civil Engineers, the estimated wastewater treatment spending in the U.S. is
expected to increase to US$ 78 Billion by 2020 from around US$ 40 Billion in
2010.
Market Opportunities
Increasing demand for magnesium
hydroxide from the electronics industry where it is used as a protective film
for plasma display screens is expected to accelerate the market growth of
magnesium hydroxide. Moreover, high purity grade of magnesium hydroxide is also
used in the development of thin-film semiconductors and researchers are investigating
other similar electronic application of magnesium hydroxide will further favor
the market growth over the forecast timeframe.
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Market
Restraints
Another major disadvantage of
magnesium hydroxide is that for effective flame retardancy require high loading
levels of metals which is expected to restrict the market growth of magnesium
hydroxide. Raising the loading of inorganic metal hydroxides may result in a
decrease in physical and chemical properties of metals and this can impact the
thermal and flame retardancy properties. The aforementioned factors are
expected to curb the market growth of magnesium hydroxide.
Key Takeaways
Among application, environmental
dominated the global magnesium hydroxide market in 2018 with a 62.8% of market
share in terms of volume, followed by chemicals & others and flame
retardants, respectively.
Market Trends
The ongoing trend of acquisition
and merger for magnesium hydroxide by the manufacturer of flame retardant has
been observed in the global magnesium hydroxide market. Since magnesium
hydroxide is considered as a potential alternative to halogenated flame
retardant products manufacturers are highly engaged to tap the potential growth
opportunity in magnesium hydroxide. This ongoing trend is expected to stimulate
market growth over the forecast period. For instance, in December 2015, Huber
Engineering Materials acquired Albemarle Corporation’s Martinswerk mineral
flame retardants and specialty chemical business, which includes Magnifin, a
premium precipitated magnesium hydroxide product line.
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The growing focus of manufacture
for expanding the production facility of magnesium hydroxide will positively
impact the market growth of magnesium hydroxide. For instance, in January 2020,
The Board of Directors of MAGNIFIN Magnesiaprodukte approved the preparatory
work for the construction of a second MAGNIFIN Magnesiaprodukte production
site. This planned significant investment is driven to meet rising global
demand for high-purity, halogen-free magnesium hydroxide fire retardants.
Therefore, increasing such initiatives by the manufacture for meeting the
rising demand for magnesium hydroxide is expected to accelerate market growth.
Competitive Section
Key players active in the global
magnesium 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 Marietta
Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals
Ltd., and Premier Magnesia LLC.
Few Recent Developments
Huber Engineering Materials
In February 2016, Company
acquired Albemarle Corporation’s Martinswerk business, which includes its
production facility in Bergheim, Germany, and Magnifin, a precipitated
Magnesium hydroxide product line
In June 2015, the company
acquired patented Safire Nitrogen and Phosphorus technology from Floridienne
Group and integrated it with its halogen-free flame retardant portfolio
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