Home Bulk Chemicals Magnesium Hydroxide Market Size, Share Report, 2031

Magnesium Hydroxide Market

Magnesium Hydroxide Market Size, Share & Trends Analysis Report By Form (Liquid Magnesium Hydroxide, Powder Magnesium Hydroxide), By Applications (Wastewater Treatment, Pharmaceuticals, Flame Retardants, Chemicals and Others, Fuel Additives, Food and Feed, Abrasives, Others ) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRCH55632DR
Study Period 2019-2031 CAGR 4.31%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 650.19 Million
Forecast Year 2031 Forecast Year Market Size USD 950.54 Million
Largest Market Asia Pacific Fastest Growing Market Europe
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Market Overview

The global magnesium hydroxide market size was valued at USD 650.19 million in 2022. It is estimated to reach USD 950.54 million by 2031, growing at a CAGR of 4.31% during the forecast period (2023–2031). The rising chemical demand from the water treatment industry boosts the global magnesium hydroxide market. In addition, recent years have witnessed an increase in research and development aimed at maximizing the benefits of magnesium hydroxide, boosting the global smart packaging market. Moreover, the prominent players in the market are strategizing on several initiatives to enhance their market share, which is expected to create opportunities for market expansion.

Magnesium hydroxide, chemical formula Mg(OH)2, is an inorganic compound composed of magnesium, oxygen, and hydrogen. It is a white, crystalline solid with a low solubility in water (Ksp = 5.61×10−12). It is present in nature as the mineral brucite. Magnesium, the eighth most abundant element and constitutes 2% of the minerals in the Earth's mantle, is primarily extracted from lake brines, seawater, and bitterns. The appropriate utilization of magnesium hydroxide-based products is of utmost significance, particularly when considering individuals with pre-existing medical problems or concurrent drug usage. Adherence to the guidance provided by healthcare professionals is crucial due to the possibility of interactions and associated adverse effects arising from its administration.

Market Dynamics

Global Magnesium Hydroxide Market Drivers:

Growing Demand from the Wastewater Treatment Industry

In wastewater treatment processes, magnesium hydroxide has multiple applications. By increasing the pH of acidic water with magnesium hydroxide, its suitability for a range of industrial applications—including cooling towers, furnaces, and municipal water supply systems and to mitigate corrosion is enhanced. In wastewater treatment, magnesium hydroxide can function as a coagulant and a flocculant. It facilitates the deposition and aggregation of suspended particles, thereby enhancing their ability to separate from the water. This is particularly advantageous when eliminating turbidity and particulate matter from water.

Additionally, the world's population is growing quickly, and expanding industrialization and urbanization significantly damage existing freshwater resources. Twenty-two percent of the world's water consumption is utilized for industrial purposes. Thus, numerous governing bodies and regulatory organizations have published numerous rules and requirements on wastewater treatment and disposal, particularly from the industrial sector, to protect the environment. Strict enforcement of these regulations prompts industries to adopt efficient wastewater treatment processes. Therefore, a rising demand for wastewater treatment globally drives the magnesium hydroxide market.

Increasing Research and Development

In recent years, there has been a notable increase in research and development efforts aimed at harnessing the complete capabilities of magnesium hydroxide. This research helps to develop novel products in several end-user industries. For instance, in June 2021, a group of scientists and engineers at RMIT University in Melbourne, Australia, developed smart wound dressings capitalizing on magnesium hydroxide's potent antibacterial and antifungal properties. The smart dressing features integrated nanosensors that emit light to notify patients of compromised wound healing.

Additionally, the fluorescent sensors embedded in the multifunctional, antimicrobial dressings illuminate luminously when exposed to ultraviolet light, signaling the onset of infection and facilitating the monitoring of the healing process. While produced at a lower cost than silver-based dressings, magnesium hydroxide-based dressings exhibit equal efficacy against bacteria and fungi, maintaining their antimicrobial properties for one week. Thus, growth in R&D of magnesium hydroxide is expected to spur the global market growth.

Global Magnesium Hydroxide Market Restraint:

Side Effects of Magnesium Overdose

Magnesium overdose results in diarrhea, in addition to additional adverse effects, including vomiting and cramping. Similarly, extremely high concentrations of magnesium-containing laxatives and antacids (typically providing more than 5,000 mg of magnesium per day) have been linked to magnesium toxicity, as per the Office of Dietary Supplements.

Magnesium hydroxide and other magnesium-containing products should be used cautiously by individuals with kidney disease, as excessive magnesium consumption can result in hypermagnesemia, a condition marked by elevated blood magnesium levels. Elevated concentrations of magnesium hydroxide in the bloodstream can induce muscle weakness, arrhythmias, respiratory distress, and mood fluctuations. Such magnesium hydroxide side effects are anticipated to affect market growth adversely.

Global Magnesium Hydroxide Market Opportunities:

Strategic Initiatives by Key Players

The key players in the market are taking up initiatives like mergers and acquisitions, collaboration, and expansion, among others, to strengthen their market share. For instance, in May 2021, a definitive agreement was executed between Huber Corporation and RHI Magnesita for the acquisition of RHI Magnesita's 50% ownership interest in the 50/50 joint venture of the two companies, Magnifin Magnesiaprodukte GmbH & Co. KG, a manufacturer and retailer of magnesium hydroxide products since 1991. This acquisition will increase Huber's market share in the magnesium hydroxide sector.

Furthermore, in June 2021, NikoMag intended to augment the annual production capacity of its magnesium hydroxide facility from 25,000 to 40,000 tons. This lofty objective was planned to be accomplished by installing technological units and supplementary apparatus thoroughly tested throughout NikoMag's operations since 2015. Similarly, all necessary technical adjustments will be implemented in routine plant maintenance. This ensures that the current magnesium hydroxide facilities will continue functioning at full capacity. Thus, such initiatives create opportunities for market growth.

Regional Analysis

Asia-Pacific Dominates the Global Market

Based on region, the global magnesium hydroxide market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Asia-Pacific is the most significant global magnesium hydroxide market shareholder and is expected to expand substantially during the forecast period. The Asia-Pacific region's production and consumption of magnesium hydroxide are stimulated by growing growth and investments in the chemical and materials sector, as well as the expansion of end-user industries. Asia is by far the world's greatest regional market for chemicals. Asia constituted 59.2 percent of the worldwide chemical industry's revenue in 2021. This, in turn, boosts the magnesium hydroxide market. Several countries in the Asia-Pacific region have production capabilities characterized by cost-effectiveness and economic viability. As a result, these nations play a significant role in enhancing the accessibility and utilization of magnesium hydroxide.

Moreover, as a consequence of the escalating water pollution and water scarcity issues faced by numerous countries in the Asia-Pacific region, there is a rising need for wastewater treatment in this area. This increased demand for water treatment has compelled the governments of several nations to take initiatives for effective wastewater treatment strategies. For instance, the 2030 Water Resources Group and the Council on Energy, Environment, and Water (CEEW) are collaborating to increase private investments in the construction of wastewater treatment plants and enhance wastewater management in India.

Furthermore, China allocated USD 81.6 billion towards its municipal wastewater system between 2015 and 2020, as the China National Bureau of Statistics reported. This investment encompassed the establishment of additional water treatment facilities. The Chinese government declared its intention in 2021 to construct additional wastewater treatment facilities to augment the nation's wastewater treatment capacity by 20 million cubic meters daily from 2021 to 2025. Thus, the high demand and development of wastewater treatment processes are expected to augment the magnesium hydroxide market in the region.

Europe hosts numerous significant industries, with Germany, France, Italy, and Spain comprising the four largest mainland economies. Several established companies' presence in the region is anticipated to contribute to the growth of the industrial coatings market segment during the forecast period. The growth of the industrial sector is expected to positively impact the demand for magnesium hydroxide, which is utilized to improve the functionality of industrial apparatus and equipment. In addition, the emphasis on renewable energy sources, like wind and solar power, has led to the establishment and upkeep of renewable energy facilities, including wind farms and solar installations in the European region. Magnesium hydroxide is utilized in these endeavors to serve as a corrosion inhibitor and a protective coating for metal components integral to the infrastructure supporting renewable energy sources. This fact contributes to a more sustainable future by facilitating Europe's efforts to augment its renewable energy production and minimize its reliance on fossil fuels.

Furthermore, Germany is the optimal location for the manufacturing of pharmaceutical products. In the pharmaceutical industry, Germany is an industry leader and the leading exporter of medical products. As magnesium hydroxide is widely used in the pharmaceutical industry owing to its laxative and antacid properties, its demand is anticipated to increase in the region. These aspects collectively contribute to the demand for magnesium hydroxide in Europe.

Report Scope

Report Metric Details
Segmentations
By Form
  1. Liquid Magnesium Hydroxide
  2. Powder Magnesium Hydroxide
By Applications
  1. Wastewater Treatment
  2. Pharmaceuticals
  3. Flame Retardants
  4. Chemicals and Others
  5. Fuel Additives
  6. Food and Feed
  7. Abrasives
  8. Others 
Company Profiles Nedmag Industries Mining & Manufacturing B.V. Kyowa Chemical Industry Co. Ltd. Ube Material Industries Ltd. Huber Engineering Materials Konoshima Chemicals Co. Ltd. Baymag Inc. Sakai Chemical Industries Co. Ltd. Lehmann & Voss & CO. KG. Xinyang Mineral Group Premier Periclase Ltd.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global magnesium hydroxide market is segmented by form and application.

Based on form, the global magnesium hydroxide market is divided into liquid and powder magnesium hydroxide. 

Liquid magnesium hydroxide is the chemical compound known as liquid magnesium hydroxide. This chemical, often known as "milk of magnesia," is commonly used as a laxative and antacid. Typically, this liquid is a translucent white suspension of magnesium hydroxide particles in water. As an alkaline compound, magnesium hydroxide alleviates heartburn, indigestion, and other gastrointestinal discomforts by neutralizing excess gastric acid. It also possesses laxative properties that stimulate bowel movements and increase intestinal water content, thereby potentially alleviating constipation. Magnesium hydroxide possesses industrial applications apart from its medicinal uses, covering components in the production of diverse compounds and functioning as a flame retardant in plastics and other materials.

Based on application, the global magnesium hydroxide market is segmented into wastewater treatment, pharmaceuticals, flame retardants, chemicals and others, fuel additives, food and feed, abrasives, and others.

Commercially, brucite, or natural magnesium hydroxide, is utilized as a fire retardant. Magnesium hydroxide is synthetically produced for the most part in industrial applications. Solid magnesium hydroxide possesses the same flame-retardant and smoke-suppressing properties as aluminum hydroxide. This characteristic results from the endothermic decomposition at a temperature of 332 °C (630 °F): MgO + H2O → Mg(OH)2. The fire is slowed by the heat absorbed by the reaction, which causes a delay in the ignition of the substance involved. The discharged water dilutes the combustible gases. As a flame retardant, magnesium hydroxide is frequently incorporated into roofing materials, insulation polymers, cable insulation, and various flame retardant coatings.

Market Size By Form

Market Size By Form
  • Liquid Magnesium Hydroxide
  • Powder Magnesium Hydroxide
  • Recent Developments

    • October 2023- The groundbreaking ceremony for the Shuqualak Mill was hosted by Huber Engineered Woods (HEW), signifying a momentous achievement. This new mill, the sixth OSB facility operated by HEW, is anticipated to represent the most substantial investment that HEW's parent company, J.M. Huber Corporation, has ever made.
    • October 2023- Latrobe Magnesium (LMG) is actively progressing with the development of facilities in Victoria's La Trobe Valley that will be utilized to extract magnesium products from brown coal fly ash.

    Top Key Players

    Magnesium Hydroxide Market Share of Key Players

    Magnesium Hydroxide Market Share of Key Players
    Nedmag Industries Mining & Manufacturing B.V. Kyowa Chemical Industry Co. Ltd. Ube Material Industries Ltd. Huber Engineering Materials Konoshima Chemicals Co. Ltd. Baymag Inc. Sakai Chemical Industries Co. Ltd. Lehmann & Voss & CO. KG. Xinyang Mineral Group Premier Periclase Ltd. Others

    Frequently Asked Questions (FAQs)

    How big is the magnesium hydroxide market?
    The global magnesium hydroxide market size was valued at USD 650.19 million in 2022. It is estimated to reach USD 950.54 million by 2031, growing at a CAGR of 4.31% during the forecast period (2023–2031).
    Europe has the highest growth in the global market.
    Key verticals adopting the market include: Nedmag Industries Mining & Manufacturing B.V., Kyowa Chemical Industry Co. Ltd., Ube Material Industries Ltd., Huber Engineering Materials, Konoshima Chemicals Co. Ltd., Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Xinyang Mineral Group, Premier Periclase Ltd
    Growing demand from the wastewater treatment industry is the key driver for the growth of the global market.
    Strategic initiatives by key players is one of the upcoming key trends in the global market.


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