According to a recent research report titled “Magnesium Carbonate Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)”, published by Future Market Insights, the global market for magnesium carbonate is witnessing moderate growth during the period of assessment. The research report covers several factors that drive this growth as well as few other aspects which have a negative influence over it.
The exhaustive research publication includes trends, threats, opportunities, growth drivers and challenges and their impact on the global magnesium carbonate market. Detailed pricing analysis of different magnesium carbonate across key regions is also discussed in the research study. The segmental analysis across North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Latin America, Japan and Middle East and Africa (MEA) is carried out which is used to track the future projections for a period of ten years, pertaining to value and volume of the global magnesium carbonate market.
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Global Magnesium Carbonate Market: Segmentation Analysis
The global magnesium carbonate market is segmented on the basis of type, by application, end use and by region.
- In the type category, the light magnesium carbonate segment is estimated to be the largest with a high market share. It is expected to dominate the global market and is projected to grow at a high pace owing to extensive applications in several industries. It is largely used in paints, inks, refractory material, used as packing and smoke inhibitor in plastic and rubber industry and also are used in fire extinguishers. The light magnesium segment is projected to grow at a high value CAGR of 4.5% throughout the period of assessment
- By application, additives and filler segment is estimated to surpass other segments and is poised to reach a significant market estimation by the end of the year of assessment. Magnesium carbonate is widely used in the food sector as additives for several applications such as flouring agent and colour retention agent. It is also used in the rubber industry owing to its light weight and adsorptive properties. Also, the antacid segment is projected to grow at the highest CAGR during the period of forecast
- In the end use category, magnesium oxide production segment is expected to surpass other end use segments with respect to market value and growth rate. Personal care and cosmetics segment is the second largest with a significant market share
- With respect to region, Asia Pacific excluding Japan (APEJ) region is highly lucrative and is expected to dominate the global magnesium carbonate market. Magnesium carbonate market in APEJ region is projected to grow at a value CAGR of 4.6% throughout the period of forecast
Global Magnesium Carbonate Market: Forecast Analysis
The global magnesium carbonate market is expected to grow at a moderate rate during the period of forecast. In 2017, the global magnesium carbonate market was valued at about US$ 225 Mn and is estimated to reach a valuation of more than US$ 340 Mn by the end of the year of assessment (2027). The global magnesium carbonate market is projected to grow at a value CAGR of 4.3% throughout the period of forecast.
Global Magnesium Carbonate Market: Competition Analysis
This exhaustive research contains detailed intelligence on various players involved in the manufacturing and distribution of magnesium carbonate. Prominent players are Hebei Meishen Technology Co., Ltd., Naikai Salt Industries Co. Ltd., NUOVA SIMA Srl., Celtic Chemicals Ltd., Konoshima Chemical Co.,Ltd., Lehmann&Voss&Co., Gee Gee Kay Pvt Ltd., Buschle & Lepper S.A., Kyowa Chemical Industry Co., Ltd., OSIAN MARINE CHEMICALS PVT. LTD., Dr. Paul Lohmann GmbH KG., and Israel Chemicals Ltd.
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Global Magnesium Carbonate Market: Dynamics Influencing Growth
Factors such as surging demand from pharmaceutical and healthcare industry, increasing adoption as endothermic flame retardants in the rubber and plastic industry, growing demand in cosmetic products and personal care products, increasing use of magnesium carbonate in the production of magnesium alloy which is used extensively in the automotive and aerospace industry, growing use of magnesium carbonate in controlling phosphate levels, and growing use of magnesium carbonate in the ceramics industry are expected to drive the growth of the global magnesium carbonate market. However, factors such as side effects associated with magnesium carbonate and use of alternative materials are expected to pose hindrances to the growth of the magnesium carbonate market.