DALLAS, March 13, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the magnesium hydroxide market looks promising with opportunities in the industrial, municipal, and pharmaceutical industries. The global magnesium hydroxide market is expected to reach an estimated $779.2 million by 2023 with a CAGR of 4.1% from 2018 to 2023. The major drivers for this market are increasing awareness towards environment friendly flame retardant additives and growing consumption of magnesium hydroxide in the wastewater treatment, flue gas desulphurization, and pharmaceutical industries.
Browse 104 market data tables and 126 figures spread through 204 pages and in-depth TOC on “Global Magnesium Hydroxide Market" at https://www.lucintel.com/magnesium-hydroxide-market.aspx
In this market, different types of magnesium hydroxide such as environmental protection, flame retardant, pharmaceutical ingredients, and others are used as application. Lucintel forecasts that environmental protection will remain the largest application due to growth in wastewater treatment and flue gas desulphurization activities in various industries. Lucintel predicts that pharmaceutical ingredients will witness the fastest growth during the forecast period due to the increasing demand of medicines and drugs for the treatment of indigestion, heartburn, and sour stomach.
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Asia Pacific is expected to remain the largest market by value and volume and witness the highest growth over the forecast period due to the growing consumption of magnesium hydroxide in environmental protection and pharmaceutical industries.
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An emerging trend that has a direct impact on the dynamics of the magnesium hydroxide industry is increasing demand for ultrafine grade of magnesium hydroxide. Israel Chemical, Martin Marietta Materials, Huber Engineered Materials, Kyowa Chemical, Konoshima Chemical, Nedmag, Ube Material industries, and Xinyang Minerals and others are among the major magnesium hydroxide manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed and forecasted for the global magnesium hydroxide market by application, end use industry, purity level, product form, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Magnesium Hydroxide Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com