Magnesium Carbonate Market Size, Share, Growth Report 2030

Magnesium Carbonate Market Size &  Analysis

The global Magnesium Carbonate Market Size, which accrued revenue worth nearly 70 (USD Million) in 2019 and is slated to garner earnings worth 74.22 (USD Million) by 2026, is set to grow at a CAGR of 0.033% during the period from 2020 to 2026. The report offers a valuation and analysis of the Magnesium Carbonate market on a global as well as regional level.

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The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on value (USD Million).

Introduction

Magnesium carbonate is an organic salt that is white in color and is also termed Hydromagnesite or Magnesite. It is odorless and remains stable in the air. The hydrated form of this compound-like di, tetra hydrates and tri are present in various kinds of minerals. The compound can be derived through the mining of Magnesite minerals. Magnesium carbonate is prepared in labs by facilitating the reaction between sodium bicarbonate and soluble magnesium salt. Moreover, the compound is used for controlling phosphate levels and is also used in large proportions in ceramics.

Market Growth Dynamics

Massive acceptance of magnesium carbonate in the pharma sector and personal care & cosmetics sector will steer the expansion of the magnesium carbonate industry over the ensuing years. In addition to this, the escalating use of magnesium carbonate in flame retardants & smoke suppressants along with huge funding for research activities for new products are projected to embellish the scope of the business over the forecast timespan. In addition to this, the escalating utility of the compound in the production of magnesium oxide is predicted to contribute notably towards the market size in the years ahead.

Furthermore, the large-scale use of magnesium carbonate in the personal care & cosmetics sector will steer the expansion of the industry over the years ahead. Humungous demand for the compound across healthcare & pharma sectors will propel the expansion of the market in the years to come.

Apart from this, growing product penetration in the rubber & plastic industries will scale up the market size over the years ahead. In addition to this, the rise in the utility of the compound in manufacturing magnesium alloy for automotive & aerospace sectors will impel the growth of the market in the years ahead.

Asia Pacific Market To Set Up Dominant Position Over 2020-2026

The growth of the market in the sub-continent over the estimated timeline is attributed to thriving ceramic & glass and cement industries in the countries like India and China. Apart from this, large-scale production of paper in China will further contribute to the regional market size over the forthcoming years. Furthermore, flourishing chemical, as well as petrochemical sectors in the region along with the presence of key manufacturers in the Asia Pacific, will drive the market trends in the Asia Pacific zone over the forecast timespan.

Key Market Players & Competitive Landscape:

Key players influencing the market growth are 

• Rahul Magnesia Pvt. Ltd.
• SCORA S.A.S
• Konoshima Chemical
• Dandong Yulong
• Yixing Lark Fine Chemical
• Bakhtawar Industries
• Liaoning Xinghai Pharmaceutical
• Naikai Salt Industries Co., Ltd.
• Hebei Gaolin
• Xingtai Messi
• Yingkou Magnesite Chemical
• Zehui Chemical
• Meishen.

The global magnesium carbonate market is segmented as follows:

By type:

• Heavy magnesium carbonate
• Light magnesium carbonate

By end-user:

• Plastic & Rubber Industry
• Magnesium Oxide Production
• Pharmaceuticals
• Personal Care & Cosmetics
• Paints & Inks

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa