Magnesium Hydroxide Market

The global magnesium hydroxide market was valued at USD 624.4 million in 2018 and is expected to register a CAGR of 5.47% to reach USD 859.7 million by the end of 2024. The growth of the global magnesium hydroxide market is mainly driven by the increasing application of flame retardants in the construction and electronics industries. Likewise, the increasing demand for magnesium hydroxide in the water treatment industry is also expected to boost the growth of the global market during the review period.

The growing preference for magnesium hydroxide over alternatives such as caustic soda and bromine & chlorine in wastewater treatment and flame-retardant applications due to its environmentally friendly nature is expected to create lucrative opportunities for the players operating in the global market.

However, the high cost of magnesium hydroxide is expected to hinder the global market growth during the review period.

The global magnesium hydroxide market has been segmented by application, end-use industry, and region. Based on application, the global market has been segmented into pharmaceutical, wastewater treatment, flame retardant, fuel additives, food additives, fertilizer, and others. The wastewater treatment segment accounted for the largest share of the global magnesium hydroxide on account of its significant use in treating polluted industrial and household water.

Based on end-use industry, the global market has been divided into effluent treatment chemicals, construction, rubber, plastic, agricultural, and others. Among these, the effluent treatment chemicals segment accounted for the largest share in 2018 and is expected to register continuous growth during the review period. The growth of the segment is attributed to the increase in the number of wastewater treatment plants across the globe as a result of rising environmental regulations against wastewater discharge.

The global market, by region, has been segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share in 2018 owing to the increasing use of magnesium hydroxide-based flame-retardant materials in the electronics and construction industries. China is expected to be the leading market accounting for around 44.1% share on account of the increasing demand in numerous applications including wastewater treatment, fertilizers, and flame retardant. North America is expected to witness remarkable growth in the review period owing to growing application of magnesium hydroxide in electronic products. In addition, stringent environmental regulation to treat industrial and household waste water in Europe is estimated to drive the application of magnesium hydroxide during the forecast period.