Global Magnesium Hydroxide Market is expected to rise at a higher CAGR in future. Generally, magnesium is a naturally occurring mineral mainly important for organic and inorganic functioning of the body. Magnesium hydroxide specifically is responsible for the functioning of muscle and nerves. It is also an inorganic compound which is obtained by magnesium salts and sodium, potassium or ammonium hydroxide.
Commercially, magnesium hydroxide is constituent of antacids and laxatives. It needs to administered on a periodical basis rather than frequent consumption. Magnesium hydroxide is a good remedy against stomach acid and also externally it is used as an antiperspirant deodorant. As an antacid it is needed to neutralize the stomach acid. In cases of diarrhea the body loses ample of potassium thus leading in muscle cramps. Milk of magnesia is much useful against ulcers when used topically.
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Milk of magnesia is used as chewable tablets, capsules and liquids having several flavors. It is basically used to release constipation but it also helps in heartburn and indigestion. Also, the milk of magnesia is used to relieve the symptoms of seborrhea and dandruff. Industrially, magnesium hydroxide is used as a non-hazardous alkali to neutralize acidic wastewaters. Overall, magnesium hydroxide is widely used for health industry, commercial purpose and industrial objectives. Therefore, with such dynamics and driving factors around, the global magnesium hydroxide market is anticipated to grow at a higher CAGR in the assessment period.
Magnesium hydroxide industry is driven by factors such as growing use in health industry along with rising demand for magnesium hydroxide and also rise in end-user industries. Additionally, magnesium hydroxide is used as an antiperspirant deodorant and its demand is high among the youth. Moreover, the growing number of pharmaceutical industry will also augment the demand for magnesium hydroxide in terms of medicine and tablets against stomachache.
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Magnesium hydroxide industry is segmented into magnesium oxide plywood and magnesium fire resistant board, based on product. Based on application, the magnesium hydroxide industry is segmented into trim materials and construction.
Based on geographic segmentation, the magnesium hydroxide industry spans North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan, Middle-East and Africa. APEJ regions are expected to rise at a higher CAGR in the forecast period. Chinese market is expected to continue increasing upwards at a rapid pace in the assessment period. Magnesium hydroxide is also used as a flame retardant and also in fossil fuel power plants. Factors such as good performance, cheap price, low corrosiveness and magnesium hydroxide being a non-toxic compound also propels the market growth in the forecast period.
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The key players in the magnesium hydroxide industry include AkzoNobel, Albermarle Corporation, Almatis GmbH, BASF SE, Chemtura Corporation, Israel Chemicals, Magnastruct, MagO Building Products, Mgo Corporation, Beijing New Building Material, Magnum Building Products, ModakBoard, Dragonboard, Extremegreen Building Products, Innovative Civil Engineering Solutions, LS Tech-Homes, Resistant Building Products, JetBoard, BuilditEco, Matrix Manufacturing, Supertec, Yunion Industry, Gemtree, Calix, TechnoPrime, PalmEco Tech, Shree Sidhbali Green Earth and Euroform Products.
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