Magnesium hydroxide is an inorganic alkaline chemical produced by the hydration of magnesia, and it can also be found in nature in the form of the forming mineral (brucite). It’s employed in a variety of applications in the environment, including flue gas desulphurization, wastewater treatment, and flame retardants and smoke suppressants. It’s used as laxatives or antacids in the pharmaceutical sector. It’s also utilised in pulp bleaching, gasoline additives, abrasives, leather, and other applications. Ceramics, salts, lubricating oil, and food additives are only a few examples of other applications.
The global magnesium hydroxide market is projected to reach US$ 1083.7 million by the end of 2027, in terms of revenue, growing at CAGR of 5.8% during the forecast period (2019 to 2027).
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The market for magnesium hydroxide is primarily driven by the increasing use of magnesium hydroxide in flame retardants to replace halogenated flame retardants due to increased health concerns. According to the Coherent Market Insights, brominated flame retardant additives are banned in most of the markets such as Europe, Asia, and North America due to neurodevelopmental toxicity, thyroid effects, and other side-effects on human health and magnesium hydroxide are projected to see a rise in demand as an alternative additive in these regions.
Magnesium hydroxide is expected to gain popularity due to its increasing use in flue gas desulphurization for recovering high-quality petroleum products. The SO3 removal system must be deployed across power plants and other industries to remove sulphur content in fuel, which can cause machine corrosion and reduce machine performance. Therefore, rising need for the removal of sulphur content from the fuel is expected to propel the market growth of magnesium hydroxide.
Regionally, Asia-Pacific dominated the global magnesium hydroxide market in 2018, reporting 38.8% market share in terms of revenue, followed by Europe and North America, respectively.
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Magnesium hydroxide’s market growth is projected to be hampered by the availability of replacements such as caustic soda, which is an excellent neutralising agent. The majority of industrial neutralising systems are designed to use caustic soda, which has a faster reaction rate. However, when utilising magnesium hydroxide, the system must be changed, which might be costly.
Excessive magnesium consumption can result in diarrhoea, as well as other unpleasant side effects such as vomiting and cramping. This aspect is projected to limit magnesium hydroxide usage, stifling the expansion of the magnesium hydroxide market. Furthermore, a high quantity of magnesium hydroxide in the blood might cause muscle weakness, irregular heartbeat, breathing difficulties, and mood swings. Such magnesium hydroxide adverse effects are predicted to have a negative impact on market growth.
Magnesium hydroxide’s market is developing due to its increasing use in the steel sector as a refractory brick coated with carbon to provide superior corrosion resistance while also being environmentally friendly. Furthermore, magnesia-based sprayables and castables are widely employed as a basic refractory lining for steel transfer applications. As a result, increased demand for magnesium hydroxide as a refractory brick from the steel sector is likely to drive market expansion throughout the forecast period.
Magnesium hydroxide’s market is growing due to the increasing use of magnesia powder as a filler for electrical heating materials. The thermal conductivity and electrical resistivity of fused magnesia are excellent. Because it serves as a barrier between the element and the outer sheath. Magnesia is also employed as a mineral insulation in a variety of cable applications. As a result, the aforementioned rising magnesia application is predicted to boost the market growth of magnesium hydroxide.
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An increasing number of partnerships among key companies to strengthen the distribution and production of magnesium hydroxide is expected to boost market growth. For example, in March 2019, Magnesium Producers NEDMAG and TIMAB MAGNESIUM have announced a strategic partnership for the development and commercialization of Magnesium Hydroxide in Marine Gas Scrubber Systems.. As a result, the market for magnesium hydroxide is likely to grow faster as more competitors adopt collaborative strategies.
The key players are expected to increase its investment in the storage and production of magnesium hydroxide. For example, in June 2015, Nedmag Industries in Veendam, The Netherlands, will be expanding its magnesium hydroxide storage capacity. Nedmag expects to fulfil rising demand for magnesium hydroxide, particularly in the pulp and paper industry, with the expansion of its magnesium hydroxide storage capacity.
On the basis of application, in 2018, environmental accounted the largest market share of 47.5% in terms of revenue, followed by flame retardant and pharmaceutical, respectively.
Key players active in the 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
Nedmag Industries Mining & Manufacturing B.V.
- In June 2015, Company announced a strategic alliance with Imerys S.A. to co-develop magnesium hydroxide bleaching technology and products to serve pulp and paper market
- In February 2016, Company established its first fully own subsidiary, Nabaltec Asia Pacific K.K. in Tokyo, Japan to be engaged in marketing and sales of its entire product folio in the Asia market.
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