Magnesium Compounds Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)

The magnesium compounds market is segmented by source (seawater, natural brines, and other sources), product type (inorganic chemicals and organic chemicals), end-user industry (agriculture, electrical and electronics, automotive, aerospace, construction, refractory, and other end-user industries), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report offers market size and forecasts in terms of revenue (USD million) for all the above segments.

Magnesium Compounds Market Size

 Magnesium Compounds Market  Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Magnesium Compounds Market  Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Magnesium Compounds Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

Magnesium Compounds Market Analysis

The magnesium compounds market is projected to register a CAGR of more than 5% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

  • The increasing use of magnesium compounds in the construction industry is expected to fuel market growth.
  • The availability of substitutes such as alumina, chromite, and others is expected to hinder market growth.
  • The growing use of magnesium in medicines is expected to provide opportunities for the market to flourish.
  • The Asia-Pacific region dominated the market around the world, with countries like China, India, and Japan being the biggest consumers.

Magnesium Compounds Market Trends

High Demand from Construction Segment

  • Magnesium compounds, mainly magnesium oxide, are largely utilized as refractory materials in furnace linings for producing iron and steel, nonferrous metals, glass, and cement, which are further utilized in the construction industry.
    Also, magnesium chloride brine finds the largest application at construction sites.
    Magnesium compounds found in seawater have a wide range of applications in the construction industry. Aluminum-magnesium alloys, for example, are widely used in the construction sector.
    Rapid residential and commercial building expansion is the main driver of China's growth. According to the World Bank, China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030.
    Also, according to the National Bureau of Statistics of China, China's construction output peaked in 2022 at a value of about USD 4.11 trillion. As a result, these factors tend to increase the demand for magnesium compounds in the construction sector.
    Also, India is expanding its commercial sector. Several projects have been going on in the country. For instance, the construction of the CommerzIII Commercial Office Complex, worth USD 900 million, started in Q1 2022.
    The project involves the construction of a 43-story commercial office complex with a permissible floor area of 2,60,128 m2 in Goregaon, Mumbai. The project is expected to be completed in Q4 2027. thus supporting market growth.
    Thus, owing to the above-mentioned factors, the market is expected to grow significantly during the forecast period.
 Magnesium Compounds Market : Construction Output Value, in Trillion Yuan, China, 2018-2022

Asia-Pacific to Dominate the Market

  • The Asia-Pacific region is expected to account for the largest market for magnesium compounds during the forecast period owing to expanding construction, automotive, etc. industries in major countries such as China, India, Japan, etc.
  • According to the U.S. Geological Survey, China is the world's largest producer of magnesia and magnesite and the primary exporter of magnesia to the United States and the rest of the world.
  • The world's largest producer of cement is China, and thanks to the expansion of the construction sector, demand for cement is constantly rising. China's infrastructure investment increased by 8.7% year over year in the first ten months of 2022, which is 0.1% more than in the first three quarters, according to the National Bureau of Statistics of China. Thereby enhancing the demand for the studied market.
  • Also, magnesium is highly used in the automotive industry, as it is the lightest structural metal in the automotive sector.
  • In India, during FY 2021-22 (April 2021-March 2022), according to the Society of Indian Automobile Manufacturers (SIAM), the country's automotive industry produced a total of 22,933,230 vehicles, compared to 22,655,609 units from April 2020-March 2021. thus supporting market growth in the automotive sector.
  • Thus, owing to the above-mentioned factors, the Asia-Pacific region is expected to benefit market growth significantly during the forecast period.
 Magnesium Compounds Market : Magnesium Compound Market - Growth Rate by Region

Magnesium Compounds Industry Overview

The magnesium compounds market is fragmented in nature. Some of the major players in the market include Israel Chemicals Ltd., Iwatani Corporation, regal-mg, Konoshima Chemical Co., Ltd., and Kyowa Chemical Industry Co., Ltd., among others (in no particular order).

Magnesium Compounds Market Leaders

  1. Israel Chemicals Ltd.

  2. Iwatani Corporation

  3. regal-mg

  4. Konoshima Chemical Co., Ltd.

  5. Kyowa Chemical Industry Co., Ltd.

*Disclaimer: Major Players sorted in no particular order

 Magnesium Compounds Market  Concentration
Need More Details on Market Players and Competitors?
Download PDF

Magnesium Compounds Market News

  • January 2023: Grecian Magnesite introduced a new magnesium silicate product line under its brand OLIDUN.
  • January 2023: Akdeniz Mineral Kaynaklari A.S., a subsidiary of Grecian Magnesite, received Good Manufacturing Practices (GMP+) Certification from the SGS certification company. GMP+ certification ensures the safety of magnesium oxide products used in animal nutrition.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 The Growing Use of Magnesium Compounds in the Construction Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Availability of Substitutes

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Source

      1. 5.1.1 Seawater

      2. 5.1.2 Natural Brines

      3. 5.1.3 Other Sources

    2. 5.2 Product Type

      1. 5.2.1 Inorganic Chemicals

      2. 5.2.2 Organic Chemicals

    3. 5.3 End-User Industry

      1. 5.3.1 Agriculture

      2. 5.3.2 Electrical and Electronics

      3. 5.3.3 Automotive

      4. 5.3.4 Aerospace

      5. 5.3.5 Construction

      6. 5.3.6 Refractory

      7. 5.3.7 Other End-User Industries

    4. 5.4 By Geography

      1. 5.4.1 Asia Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) Analysis**/Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Grecian Magnesite

      2. 6.4.2 Israel Chemicals Ltd.

      3. 6.4.3 Iwatani Corporation

      4. 6.4.4 Konoshima Chemical Co., Ltd.

      5. 6.4.5 Kyowa Chemical Industry Co., Ltd.

      6. 6.4.6 Parchem fine & specialty chemicals

      7. 6.4.7 regal-mg

      8. 6.4.8 Tateho Chemical Industries Co.,Ltd.

      9. 6.4.9 US Magnesium LLC

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Use of Magnesium in Medicines

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Magnesium Compounds Industry Segmentation

Magnesium forms a number of useful compounds in industry and biology, such as magnesium carbonate, magnesium chloride, magnesium citrate, magnesium hydroxide, and others. Magnesium and magnesium compounds are produced from saltwater, well brines, lake brines, bitterns, and minerals. Magnesium compounds have a wide range of applications in agriculture, healthcare, chemicals, construction, and other industries. The magnesium compounds market is segmented by source, product type, end-user industry, and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). By source, the market is segmented into seawater, natural brines, and other sources. By product type, the market is segmented into inorganic chemicals and organic chemicals. By end-user industry, the market is segmented into agriculture, electrical and electronics, automotive, aerospace, construction, refractory, and other end-user industries. The report also covers the market size and forecasts in 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of revenue (USD million).

Source
Seawater
Natural Brines
Other Sources
Product Type
Inorganic Chemicals
Organic Chemicals
End-User Industry
Agriculture
Electrical and Electronics
Automotive
Aerospace
Construction
Refractory
Other End-User Industries
By Geography
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Frequently Asked Questions

The Magnesium Compounds Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Israel Chemicals Ltd., Iwatani Corporation, regal-mg, Konoshima Chemical Co., Ltd. and Kyowa Chemical Industry Co., Ltd. are the major companies operating in the Magnesium Compounds Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Magnesium Compounds Market.

The report covers the Magnesium Compounds Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Magnesium Compounds Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Magnesium Compounds Industry Report

Statistics for the 2024 Magnesium Compounds market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Magnesium Compounds analysis includes a market forecast outlook to and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Magnesium Compounds Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)