Magnesium Hydroxide Market Size to Grow USD 1310.9 Million by 2030 at a CAGR of 5.8% | Valuates Reports

BANGALORE, India, Sept. 10, 2024 /PRNewswire/ -- Magnesium Hydroxide Market is Segmented by Type (Chemical Synthesis Method, Physical Method), by Application (Water Treatment, Flame Retardant Industry, Pharmaceutical & Food): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Magnesium Hydroxide Market is projected to reach USD 1310.9 Million by 2030 from an estimated USD 933.1 Million in 2024, at a CAGR of 5.8% during 2024 and 2030.

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Major Factors Driving the Growth of Magnesium Hydroxide Market:

The global magnesium hydroxide market is driven by its wide application as an industrial material for mainly wastewater treatment, flame retardants, and environmental protection. It is extensively applied in industrial usages because of being non-toxic and having a neutralizing ability with regard to acidity. Other factors driving the market include growing concern about water pollution along with the implementation of increasingly stringent standards by regulatory bodies worldwide and the demand for construction and electronics, where eco-friendly flame retardants are used. The pharmaceutical and personal care industries are also major consumers of magnesium hydroxide in their products like antacids, laxatives. Hence the consumption of magnesium hydroxide is increasing slowly. Asia-Pacific region is identified as a prime region for magnesium hydroxide due to heavy industrialization.

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TRENDS INFLUENCING THE GROWTH OF THE MAGNESIUM HYDROXIDE MARKET:

Growing markets for magnesium hydroxide are benefitting from chemical synthesis methods, which lead to increased production efficiency and improved product quality. This method allows for control over purity levels, particle size, and other essential properties of magnesium hydroxide, making it suitable for various industrial applications. As demand grows in sectors like pharmaceuticals, water treatment, and flame retardants, advanced chemical synthesis processes enable manufacturers to meet stringent specifications. These processes also reduce impurity levels, enhancing the product's effectiveness, which is crucial for medical and environmentally friendly uses. As a result, these improvements in capabilities are driving the expansion of the magnesium hydroxide market.