New York, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The global caustic calcined magnesite market size is slated to expand at ~10% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 31 billion by the end of 2035, up from a revenue of ~USD 19 billion in the year 2022. owing to the growing demand for magnesia in a wide range of industries. The increasing awareness of environmental sustainability has resulted in increased demand for magnesia in wastewater treatment, which is expected to propel the caustic calcined magnesite over the forecast period. Magnesia has been found to be a valuable resource for wastewater treatment owing to its ability to neutralize the pH levels in wastewater, thus reducing the amount of acidity and preventing the formation of sludge. Further, an increasing demand for soil decontamination, water treatment, and waste neutralization across the globe is projected to provide abundant caustic calcined magnesite market growth opportunities in the near future.
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The United Nations organization reports that 56% of global household wastewater flows have been treated safely by 2020. Furthermore, 80% of wastewater does not receive any treatment or reutilization prior to its discharge into the environment. Caustic calcined magnesite (CCM) is a highly effective and reliable agent for decontamination, water treatment, and waste neutralization. It is also cost-effective and has a low environmental impact.
Caustic Calcined Magnesite Market: Key Takeaways
- Market in Asia Pacific to grow at the fastest rate
- The High Purity segment (up to 95% Mgo & Above) is expected to generate the highest growth over the coming years
- Market in North America to propel highest growth
Growing Use of Calcium Calcined Magnesite in Agriculture as a Fertilizer to Boost Market Growth
Calcium calcined magnesite is a natural fertilizer that provides essential nutrients to crops, increases soil's water retention capacity, and improves pH balance in soil. It also helps reduce soil erosion and improve soil fertility. As a result, it is becoming increasingly popular among farmers, which is expected to drive the caustic calcined magnesite market over the forecast period. For instance, a reactive magnesium oxide product called FertilMag is a versatile fertilizer ingredient that is widely used in the production of multi-nutrient fertilizers and as a low-release fertilizer (special 1.6–5.0 mm grade). Moreover, the increasing use of magnesia for other agricultural applications, such as dairy supplements and cattle feed, is expected to drive market growth in the coming years. For instance, a calcined magnesium oxide product designed specifically for animal feed, VitalMag85, exhibits a white color and self-flowing and odorless properties. It contains a minimum of 85% magnesium oxide, which helps to improve the absorption of nutrients from feed and also acts as an anti-caking agent. It also helps to promote healthy digestive systems and reduce the risk of GI tract issues in animals.
Caustic Calcined Magnesite Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Utilization of CMM in the Ever-Expanding Chemical Industry to Boost Market Growth in the Asia Pacific Region
The caustic calcined magnesite market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035 as a result of the growing demand for the product from chemical industries, particularly in China. The region has a large number of chemical manufacturing facilities that require CCM for their operations. For instance, China is the world's leading chemical producer, accounting for USD 1,840 billion in chemical sales and 45% of global chemical sales in 2021. The high purity and low reactivity of caustic calcined magnesite make it suitable for chemical industries, serving as a raw material for magnesium oxide, magnesium hydroxide, and magnesium chloride. Moreover, the increasing demand for caustic calcined magnesite in the region is owing to its extensive use in manufacturing refractory bricks, flooring tiles, and other construction materials. Governments in the Asia Pacific region have focused on introducing regulations that promote the use of caustic calcined magnesite as a construction material, which is expected to drive the demand for the product. Additionally, subsidies and incentives have been provided to manufacturers in order to encourage the production of such materials.
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Increasing Awareness about Environmental Concerns Such as Acid Rain to Drive the Market Growth in the North America Region
The caustic calcined magnesite market in the North America region is estimated to garner the highest CAGR by the end of 2035. Caustic Calcined Magnesite is used as an alkaline soil amendment and pH regulator, which helps to neutralize acid rain. It also helps to reduce the acidity of the soil, increasing its productivity and fertility. As North America is a heavily industrialized region with a large amount of acid rain, there is a need for more caustic calcined magnesite to help mitigate the effects of acid rain. Also, in accordance with Title IV, "Acid Deposition Control," the United States Environmental Protection Agency's (EPA) Acid Rain Program (ARP) requires reducing sulfur dioxide emissions and nitrogen oxide emissions from the power industry, which are the primary contributors to acid rain. Moreover, the growth in the region's pharma industry is creating a higher demand for caustic calcined magnesite, which is used in the production of active pharmaceutical ingredients. In 2022, the United States accounted for 46% of the pharmaceutical sector and 25% of global pharmaceutical production. CCM is a form of magnesium oxide that has the ability to absorb water and other substances. This makes it an ideal ingredient for use in a variety of pharmaceutical products, such as antacids, laxatives, and antifungal medications. Furthermore, the increasing demand for the product in various industrial and manufacturing applications, such as glass making, refractory materials, and feedstock for the production of magnesium metal, as well as the presence of major market players in the region, also contribute to the regional market growth.
Caustic Calcined Magnesite, Segmentation by Product Type
- Standard (Up to 90% Mg0)
- High Purity (Up to 95% Mg0 & Above)
The high-purity (up to 95% Mgo & above) segment in caustic calcined magnesite market is anticipated to hold the largest revenue by the end of 2035. High purity caustic calcined magnesite has a wide range of applications, including as a refractory material for furnaces and kilns, in the production of magnesium oxide, and as a raw material in the production of magnesium salts and other magnesium compounds. Moreover, high purity magnesite is highly effective at absorbing sulphur and nitrogen oxide pollutants, which can be harmful to the environment. In addition, it reduces the cost of maintaining and operating vessel exhaust gas cleaning systems. For instance, ActivMag, a product of Grecian Magnesite S.A., provides top-notch performance in vessel exhaust gas cleaning systems owing to its high purity and superior reactivity. As a SOx absorbent, it is particularly effective in vessel scrubbers designed for the treatment of caustic calcined magnesium oxide powders. Furthermore, the use of high-purity Mgo offers improved properties, such as increased corrosion resistance, better chemical stability, and better thermal properties compared to other alkaline materials. These properties make it an ideal material for industrial applications, and its increasing use is expected to drive segment growth in the coming years.
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Caustic Calcined Magnesite, Segmentation by Application
- Agricultural
- Chemicals
- Pharmaceutical
- Construction
- Steel Production
- Pulp & Paper
The construction segment in caustic calcined magnesite market is anticipated to hold the largest revenue by the end of 2035 owing to CCM's widespread use as a raw material in cement, refractory bricks, and concrete production, which are the primary materials used in construction projects. Furthermore, growing demand for residential housing, along with an increase in infrastructure investments and housing projects, is expected to drive segment growth in the coming years. For instance, in India, construction development investment, including housing, built-up infrastructure, and infrastructure development projects, increased by USD 26 billion and USD 29 billion between April 2000 and June 2022, respectively. Moreover, magnesium oxide is an imperative raw material for the production of sorel cement, which is used for the construction of refractory linings in furnaces. Since the demand for iron and steel is increasing, the demand for sorel cement is also increasing, which is expected to contribute to segment growth over the forecast period. It was observed that in FY22, India exported 13 MT and imported 4 MT of finished steel, respectively. As compared to 2021, India's exports increased by 25% in FY22.
Few of the well-known industry leaders in the global caustic calcined magnesite market that are profiled by Research Nester are are Possehl Erzkontor GmbH & Co. KG, Befriend Trading Co. Ltd., TERNA MAG S.A., Nedmag B.V., Magnezit Group, SCR-Sibelco NV, Star Grace Mining Co., Ltd., Grecian Magnesite S.A., QMAG Pty Limited, American Elements, and other key market players.
Recent Development in the Caustic Calcined Magnesite Market
- A purchase agreement has been signed between Refratechnik Holding GmbH/DE and SIBELCO Group for the acquisition of 100 percent of QMAG Ltd. This agreement is expected to create long-term synergies for both organizations and to strengthen the competitive position of both Refratechnik and SIBELCO.
- A new Dead Burned Magnesia product series was announced by Terna Mag under the brand name NOVAPYR in order to meet the growing demand for refractory materials. The new product series is a response to the increased demand for refractories for applications such as steelmaking and cement production.
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