Magnesium Hydroxide Market

Magnesium Hydroxide Market Outlook (2022-2032)

The global magnesium hydroxide market has reached US$ 720.5 million in 2022 and is predicted to expand at a CAGR of 5.3% to reach a market size of US$ 1.22 billion by the end of 2032. Magnesium hydroxide is an important reagent that is used in controlling the pH factor in treatment plants.

Magnesium accounts for 2% of the minerals present on the Earth’s crust and is the eighth-most abundant element, which is mostly isolated from lake brines, seawater, and bitterns.

Report Attributes	Details
Magnesium Hydroxide Market Size (2021A)	US$ 700.4 Million
Estimated Market Value (2022E)	US$ 720.5 Million
Forecasted Market Value (2032F)	US$ 1.22 Billion
Global Market Growth Rate (2022-2032)	5.3% CAGR
North America Market Share (2021)	~26.2%
North America Market Growth Rate (2022-2032)	~4.4% CAGR
U.S. Market Growth Rate (2022-2032)	~4.2% CAGR
Market Share of Top 5 Companies	~33.4%
Key Companies Profiled	Huber Engineered Materials Israel Chemical Company Nedmag B.V. Konoshima Chemical Co. Ltd. Ube Materials Industry Kyowa Chemical Industry Ltd Xinyang Minerals Group Niknam Chemicals Private Limited Premier Magnesia LLC. Kisuma Anish Chemicals

Magnesium is treated with various elements to obtain desired downstream products such as magnesium hydroxide, which is further used for the formation of magnesium hydroxide tablets, magnesium hydroxide syrup, magnesium alloys, and much more.

Sales Analysis of Magnesium Hydroxide (2017-2021) Vs. Market Forecasts (2022-2032)

In 2020, companies witnessed a fall in demand and sales of magnesium hydroxide powder. Major companies witnessed demand contraction due to lockdowns enforced across the world.

Sourcing of raw materials and supply chain management are prominent factors for the growth of the magnesium hydroxide market; manufacturers have shifted their business models from sourcing to production of magnesium hydroxide, which has cut various miscellaneous expenses over time.

• Short Term (2022 Q2 to 2025): Key players to focus more on sustainable business model to lower carbon footprint and increase efficiency of plants.
• Medium Term (2025-2028): North America and Europe anticipated to witness high magnesium hydroxide demand due to growing demand from pharmaceutical and food processing industries.
• Long Term (2028-2032): Prominent manufacturers to concentrate on strategic partnerships with raw material suppliers and third-party distributors for continuous supply.

Between 2017 and 2021, global demand for magnesium hydroxide registered a CAGR of 2.9%. As per detailed analysis by Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.3% CAGR between 2022 and 2032.

Market share analysis of magnesium hydroxide based on form and region is provided in a nutshell in the above image. Under the form segment, liquid magnesium hydroxide dominates with 53.1% market share in 2022.

How is the Market for Magnesium Hydroxide Evolving?

“Development of Institutional Client Base for Magnesium Hydroxide Suppliers”

A substantial share of the magnesium hydroxide market is accounted for by the pharmaceutical industry, which has remained a vital demand generator in high-potential regions such as North America and Europe. Additionally, it has remained very specific with regards to its needs and seldom changes its preference from one by-product to another, leading to high volume sales in an existing developed market.

Institutional consumers have started preferring products that have high-end quality in terms of purity. Moreover, consumers are keen on knowing where their products are being manufactured and whether the sourcing has been done ethically.

Besides, safety goods manufacturers have started realizing their institutional requirements and are developing agile supply chains to support this, which will soon be implemented across emerging markets as well. This is poised to provide an impetus to magnesium hydroxide demand across various applications over the coming years.

Market players are developing innovative production technology and procedures for increasing efficacy and overall productivity cost-effectively. Production capacity expansion can help cater to the increasing demand for magnesium chloride in various application areas.

Country-Wise Analysis

What’s Driving Sales of Magnesium Hydroxide in the U.S.?

U.S.-based manufacturers are looking for innovative methods to engage with their customers more than ever. They're recreating and reimagining themselves in previously unthinkable ways. One of the key areas in which chemical firms will rely on their comeback will be sustainability.

To minimize emissions from their factories, North American companies have been investing heavily in green technology and other initiatives. They're utilizing carbon offsetting to help fight climate change by compensating for emissions caused by their industrial operations and are engaging in other programs that reduce emissions.

Moreover, the pandemic situation is poised to accelerate the adoption of new value-creating paradigms by North American magnesium hydroxide brands, which, in turn, will drive the sales of magnesium hydroxide.

U.S. market players are focusing on organic growth by introducing several products under a single brand. North American manufacturers are concentrating on brand expansion across regions or in untapped markets.

The U.S. magnesium hydroxide market is anticipated to expand at a CAGR of 4.2% and reach US$ 230 million by 2032, with volume consumption of magnesium hydroxide anticipated to increase at a CAGR of 3.3% in the country.

Why is Germany a Lucrative Market for Magnesium Hydroxide Powder?

The combination of cutting-edge technology and high-purity products is continuously driving demand for pharmaceutical products. Germany is the ideal location for the production of pharmaceutical products, besides research & development and sales of several medicines.

Germany is also the prime exporter of medical products and a top performer in the pharmaceutical sector. However, the food industry is also another prominent manufacturing sector in terms of revenue generation and jobs. In the last 10 years, Europe’s food exports have doubled, reaching over US$ 90.5 billion.

Magnesium hydroxide companies are focusing more on minimizing operating costs that affect the overall profitability and are also shifting towards sustainable methods to drive the overall efficiency of production.

The German market for magnesium hydroxide is set to expand at a CAGR of 5.6% and reach US$ 72.1 million by 2032, with volume sales of magnesium hydroxide expected to increase at a CAGR of 4.4% in the country.

Category-Wise Analysis

Which Form of Magnesium Hydroxide Accounts for Higher Sales?

The refining and purity of magnesium hydroxide play a vital role in several Mg(OH)2 applications. Liquid magnesium hydroxide is used extensively due to its high purity, primarily in applications such as wastewater treatment, pharmaceuticals, fuel additives, and chemicals; all these require a refined form of magnesium hydroxide.

Demand for liquid magnesium hydroxide is anticipated to increase at a CAGR of 5.4% and reach a market valuation of US$ 683.2 million by 2032.

Will Industrial Grade Magnesium Hydroxide Continue to Rule the Landscape?

Prime manufacturers prominently target Asia Pacific due to the high demand for wastewater treatment neutralizing agents in the region. The food industry also shows tremendous growth potential in the region due to rising population and growth in per capita income.

Industrial grade magnesium hydroxide currently accounts for 53.8% market share and is estimated to generate US$ 387.6 million in value by the end of 2022. In addition, the industrial grade sub-segment of magnesium hydroxide is expected to create an absolute dollar opportunity of US$ 301.7 million by the end of the assessment period.

Demand for fuel additives and chemicals is also gaining traction due to the growing automotive sector, which, in turn, will escalate the demand for magnesium hydroxide products.

Competitive Landscape

Prominent magnesium hydroxide manufacturers are Huber Engineered Materials, Israel Chemical Company, Nedmag B.V., Konoshima Chemical Co. Ltd., Ube Materials Industry, Kyowa Chemical Industry Ltd, Xinyang Minerals Group, Niknam Chemicals Private Limited, Premier Magnesia LLC., Kisuma, and Anish Chemicals.

Solid magnesium hydroxide manufacturers should focus on global leadership in innovative magnesium hydroxide solutions by leveraging their R&D capabilities to enhance their product pipelines and by promoting commercial excellence & value-based product positioning.

Fact.MR has provided detailed information about the price points of key manufacturers of magnesium hydroxide positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Magnesium Hydroxide Industry Research

• By Form :

  • Liquid Magnesium Hydroxide
  • Powder Magnesium Hydroxide

• By Application :

  • Wastewater Treatment
  • Pharmaceuticals
  • Flame Retardants
  • Chemicals & Others
  • Fuel Additives
  • Food & Feed
  • Abrasives
  • Others

• By Grade :

  • Industrial
  • Food
  • Pharmaceutical

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA