Magnesium Carbonate Market Size, Share, Trends, Growth 2032
Magnesium Carbonate Market By Type (Heavy Magnesium Carbonate and Light Magnesium Carbonate), By End-User (Pharmaceuticals, Magnesium Oxide Production, Personal Care & Cosmetics, Plastic & Rubber Industry, and Paints & Inks), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 - 2032-
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 340.42 Million | USD 514.68 Million | 4.7% | 2023 |
Magnesium Carbonate Market Insights
According to a report from Zion Market Research, the global Magnesium Carbonate Market was valued at USD 340.42 Million in 2023 and is projected to hit USD 514.68 Million by 2032, with a compound annual growth rate (CAGR) of 4.7% during the forecast period 2024-2032.
This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Magnesium Carbonate industry over the next decade.
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 2018 to 2022 along with a forecast from 2024 to 2032 based on value (USD Million).
Magnesium Carbonate Market: Overview
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.
Magnesium Carbonate Market: Growth Drivers
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.
Magnesium Carbonate Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Magnesium Carbonate Market |
| Market Size in 2023 | USD 340.42 Million |
| Market Forecast in 2032 | USD 514.68 Million |
| Growth Rate | CAGR of 4.7% |
| Number of Pages | 110 |
| Key Companies Covered | 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. |
| Segments Covered | By Type, By End-User And By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 to 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Asia Pacific Market To Set Up Dominant Position Over 2024-2032
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
Table Of Content
Methodology
FrequentlyAsked Questions
Massive acceptance of magnesium carbonate in pharma sector and personal care & cosmetics sector will steer the expansion of magnesium carbonate industry over the ensuing years. In addition to this, escalating use of magnesium carbonate in flame retardants & smoke suppressants along with huge funding in 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 production of magnesium oxide is predicted to contribute notably towards the market size in the years ahead.
According to a report from Zion Market Research, the global Magnesium Carbonate Market was valued at USD 340.42 Million in 2023 and is projected to hit USD 514.68 Million by 2032, with a compound annual growth rate (CAGR) of 4.7% during the forecast period 2024-2032.
Asia Pacific is likely to make noteworthy contributions towards overall market revenue. The growth of the industry in the sub-continent over the estimated timespan 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 towards the regional market size over the forthcoming years. Furthermore, flourishing chemical as well as petrochemical sectors in the region along with presence of key manufacturers in Asia Pacific will drive the market trends in Asia Pacific zone over the forecast timespan.
The key players profiled in the report include 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; and Meishen. With growing focus of firms on minimizing the environmental degradation and rise in the awareness among the industrialists about corporate social responsibility has resulted in the organizations finding new ways to reduce GHG emissions in the atmosphere through launching of new products that emit less carbon in air.
The chemical formula for magnesium carbonate is MgCO3, and it appears in the form of a white powdered material. It is a form of magnesium salt that occurs naturally and can be found in rocks such as dolomite and magnesite. It is called magnesium chloride. Magnesium carbonate is an ingredient that is frequently used in a variety of contexts, including as an antacid to cure heartburn, as a food additive to avoid caking, and as a supplement to supply magnesium to the body. In addition to its use in medicine and nutrition, magnesium carbonate is also utilised in a variety of industrial processes, including the production of cement, ceramics, and paper, amongst other things. In addition to that, it can function as a filler material in rubber and plastic products, as well as a component in cosmetics and other personal care items.
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