Global Magnesium Derivatives Market Size, Trends & Analysis with COVID-19 Impact - Forecasts to 2026 By Type (Hydromagnesite, Dypingite), By Product (Magnesium Oxide, Magnesium Chloride, Magnesium Hydroxide, Magnesium Carbonate, Magnesium Sulfate, Magnesium Hydrotalcite), By Application (Industrial, Medicines, Pharmaceutical, Water &Wastewater Treatment, Agriculture, Building Construction, Animal Feed, Nutritional Supplements, Deicing &Dust Suppression, Sorel Cement, Chemical Synthesis), By Region (North America, Asia-Pacific, Middle East & Africa, CSA, Europe), End-User Landscape and Company Market Share Analysis and Competitor Analysis
Magnesium Derivatives Market Insights
The magnesium derivative market is expected to witness an upward growth trend during the forecast period. The magnesium derivatives are used in various industries such as pharmaceutical, cosmetic, or water treatment plants. Magnesium sulfate is used to prevent seizures and also aid in treating low magnesium in the blood. On the other hand, magnesium hydroxide fulfills its demand from the pharmaceutical and industrial wastewater treatment. For both plant and human nutrition, magnesium plays an important role by supporting the working of photosynthesis and enzymes. The increased importance of magnesium in the pharmaceutical and chemical industry is expected to drive market demand during the aforementioned period.
Magnesium Derivatives Market: By Type
Based on the type, the market takes dypingite and hydromagnesite into consideration. The dypingite segment is expected to grow upwardly in this market. The dypingite type is used in several industry verticals given their thermal stabilities. It finds applications in the cosmetic, pharmaceutical, and also in the rubber industry. The hydromagnesite segment too is expected to show upward rising trends in this market The hydromagnesite is extensively used in industrial applications given their useful property of flame retardancy. The material finds opportunities in electrical applications which can lead to its high demand in the market.
Magnesium Derivatives Market: By Product
Based on the product, the market considers magnesium oxide, magnesium sulfate, magnesium hydroxide, magnesium oxide, and magnesium carbonate among others. the magnesium oxide is expected to have a high growth path owing to its multifold uses and purposes. It treats constipation, helps to manage low magnesium levels, and also depression. The high consumption and demand from the pharmaceutical industry will lead to high segment growth in the market. Magnesium carbonate is also expected to grow upwardly in this market. The growing use of refractory bricks will also promote high market growth for magnesium carbonate. Magnesium carbonate is also used in cosmetics and toothpaste. The rising cosmetic industry in Europe can have a positive impact on the growth of the segment in the market.
Magnesium Derivatives Market: By Application
Based on the application, the market considers industrial, medicines, pharmaceutical, and livestock among others. The pharmaceutical segment will follow an upward growth in this market. Magnesium derivatives find many useful applications in the pharmaceutical industry from being used in the treatment of constipation or to manage low magnesium levels through magnesium supplements. The rapidly growing pharmaceutical industry in the Asia-Pacific region will enhance the market for magnesium derivatives during the forecast period. Water & wastewater treatment is also expected to grow upwardly in this market. Magnesium hydroxide works as a superior product in treating the wastewater and also has stable pH properties leading to high usage of magnesium derivative in the water treatment segment.
Magnesium Derivatives Market: By Region
Based on the region, the market considers Asia-Pacific to lead to high market growth for magnesium derivatives. China dominates the production for magnesium and also leads to the market for the highest consumption of magnesium carbonate and oxide. North America will also have a huge market dominance for this market. The manufacturers in the region have large scale magnesium operation and also stands out as the global leader in the production of magnesium. Such factors lead to high market demand in the region.
Market Share and Competitive Analysis
Key players operating in the market include Dead Sea Bromine Company Ltd, KTT Corporation, Laizhou City Laiyu Chemical Co, Ltd, Snam Alloys Pvt Ltd, K+S Kali GmbH, Macco Organiques S.R.O, All Metal Sales, Inc, Belmont Metals, Inc, Alloys International Inc, Inorganic Ventures, ACI Alloys, Prochem Inc, Air Metals Inc, Service Chemical Inc, Jost Chemical, SD Fine Chem Limited, and PQ Corporation among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Magnesium Derivatives Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Magnesium Derivatives Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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