Magnesium hydroxide Mg(OH)2 is a naturally occurring white powder material having no odor. The best known form of compound is milk liquid known as milk of magnesia which is used to treat constipation.
Increasing industrial growth and rising demand from water industry is a major factor driving growth of the global magnesium hydroxide market. In addition, increasing adoption of magnesium hydroxide from various industries such as chemical, electrical, and oil industry are other factors expected to drive growth of the global magnesium market. Moreover, owing to properties such as flame and fire retardant, use of magnesium hydroxide in building and construction material such as composite panels, roofing components, insulation materials is expected to further drive growth of the global magnesium hydroxide market.
However, strict government regulations related to use of magnesium hydroxide in food industry is a major factor hampering growth of the global magnesium hydroxide market. Additionally, side effects of magnesium hydroxide such as allergic reaction like skin rash, itching or hives, and loss of appetite are other factors expected to hamper growth of the global magnesium hydroxide market.
Technological advancements in use of magnesium hydroxide of large diameter which is significantly low in ionic impurities is a better solution for insulation performance is expected to present new opportunities for market players operating in the global magnesium hydroxide market.
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The global magnesium hydroxide market is segmented on the basis of type and region. On the basis of region, the global magnesium hydroxide market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America market is a dominant player in the global magnesium hydroxide market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to increasing adoption of magnesium hydroxide from chemical, oil, food, and water industries. Europe market accounts for the second largest revenue share contribution to the global magnesium hydroxide market followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in adoption of magnesium hydroxide from construction and building sector in this region.
Prominent market players operating in the global magnesium hydroxide market are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG, Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemical Co. Ltd., Tateho Chemical Industries Co. Ltd, Baymag Inc., Sakai Chemical Industries Co. Ltd, Lehmann & Voss CO. & KG., and Martine Marietta Materials Inc.
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