- The global market for magnesium derivatives is projected to witness a 1.5X growth over the course of the given period of forecast ranging from 2019 to 2027
- Increasing demand from construction, agriculture, and pharmaceutical industries is expected to drive the growth of the global market in the near future
ALBANY, New York, March 31, 2020 /PRNewswire/ -- In its recent research report, Transparency Market Research talks about the dynamics of operations of the global magnesium derivatives market. The research report tries to shed light on the key driving factors of the global market along with crucial marketable information about the prominent growth inhibitors, key segments, geographical outlook, and the current situation of the competitive landscape.
According to the research report, the global market for magnesium derivatives was valued at US$37 Bn in the year 2018. The market is expected to witness a CAGR of ~5% over the forecast period ranging from 2019 to 2027. With this rate of growth, the global market is then expected to reach a new valuation worth US$56 Bn by the fall of the 2027.
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Global Magnesium Derivatives Market – Key Takeaways
- Based on the product, the global market for magnesium derivatives is expected to be led by the segment of magnesium oxide.
- The segment is expected to grow at a 5% CAGR over the period of forecast ranging from 2019 to 2027.
- The growth of the segment is expected to be driven by increasing popularity of the refractive applications of this derivative, in the form of dead burned magnesia and fused magnesia.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Magnesium Derivatives Market by Product and its Application: Magnesium Oxide [Industrial Water & Wastewater Treatment, Agriculture, Building & Construction, Chemical Intermediates, and Others], Magnesium Carbonate [Flame Feedstock [MgO], Fillers in Rubber Industry, Pharmaceuticals & Cosmetic Products, and Others], Magnesium Hydroxide [Flame Retardants, Water and Wastewater, Chemicals, and Others], Magnesium Chloride [Deicing and Dust Suppression, Sorel Cement, Nutritional Supplements, and Others], Magnesium Sulfate [Agriculture, Animal Feed, Pharmaceuticals, Chemical Synthesis, and Others], and Magnesium Hydrotalcite [Resin Processing, Medicine, Wastewater Treatment, and Others] - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, at https://www.transparencymarketresearch.com/magnesium-derivatives-market.html
Global Magnesium Derivatives Market – Key Driving Factors
- Different magnesium derivatives such as magnesium chloride, magnesium sulfate, and magnesium hydroxide have flame retardant and smoke suppressant properties. These derivatives are used for reducing flammability in broad range of applications and materials.
- Growth in the number of fire accidents and issuance of stricter fire safety guidelines and regulations across the globe are also helping to drive the adoption of magnesium derivatives.
- Several major industries are adopting proactive steps in order to avoid fire outages and accidents. This too is helping the growth of the global market.
- Some of the other key factors for the development of the global magnesium derivatives market include rise in demand for food, increasing demand for sulfur free fertilizers, growing magnesium deficiency in soil due to excessive usage of ammonia based fertilizers, and dwindling of cultivation area.
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Global Magnesium Derivative Market – Key Growth Inhibitors
- One of the key restraining factors for the global magnesium derivatives market is heavy dependency of manufacturers on the availability of raw materials.
- Historically, the magnesium derivatives' prices have been quite fluctuating, which in turn has had a negative impact on the overall profits of the leading manufacturers.
Global Magnesium Derivatives Market – Geographical Outlook
- Asia Pacific segment accounted for nearly 50% of the overall share of the global magnesium derivatives market in 2018
- China in particular has been the chief contributor for the development of the Asia Pacific market by being a major consumer of magnesite and magnesia.
- Increasing demand from the prominent end use industries in the emerging economies in India and China are also expected to drive the growth of the Asia Pacific market for magnesium derivatives.
Analyze Magnesium Derivatives Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,
Global Magnesium Derivatives Market – Key Players
Some of the prominent brands operating the global magnesium derivatives market are Compass Minerals, GRECIAN MAGNESITE, Martin Marietta Magnesia Specialties, and Intrepid Potash, Inc.
Global Magnesium Derivatives Market: Research Scope
Magnesium Derivatives Market by Product and its Application
- Magnesium Oxide
- Water & Wastewater Treatment
- Building & Construction
- Chemical Intermediates
- Magnesium Carbonate
- Flame Feedstock (MgO)
- Filler in Rubber Industry
- Pharmaceuticals & Cosmetic Products
- Magnesium Hydroxide
- Flame Retardants
- Water and Wastewater
- Magnesium Chloride
- Deicing and Dust Suppression
- Sorel Cement
- Nutritional Supplements
- Magnesium Sulfate
- Animal Feed
- Chemical Synthesis
- Magnesium Hydrotalcite
- Resin Processing
- Wastewater Treatment
Magnesium Derivatives Market by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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