Market Size of Magnesium Hydroxide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Magnesium Hydroxide Market Analysis
The magnesium hydroxide market is expected to register a CAGR of more than 7% during the forecast period.
During the COVID-19 pandemic period, the demand for different chemical products reduced drastically because of the nationwide lockdown and stringent social distancing mandate, which caused the closure of markets. However, the market is expected to grow steadily owing to increasing demand from the pharmaceutical industry.
- The primary factor driving the market is the demand for pharmaceuticals, industrial chemicals, and intermediaries.
- The availability of alkaline bulk chemicals such as sodium and calcium hydroxide will hinder market growth.
- The increasing demand for wastewater treatment chemicals is the key market opportunity.
- Asia-Pacific dominated the global market, with the most significant consumption in China and India.
