Magnesium hydroxide or brucite (Mg(OH)2) is a white solid mineral known for its highly alkaline nature. It is commonly used as a flame retardant in various resin systems, plastics, and composites. Magnesium hydroxide releases water and decomposes endothermically to release non-flammable gases as temperature increases, thereby preventing combustion. It also reduces smoke and halogen emission making it a preferred choice for multiple end-use industries such as electrical & electronics, transportation, construction, and textiles.

The Magnesium Hydroxide Market is estimated to be valued at US$ 826.34 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. 

 

Market key trends:

The growing demand for plastic and polymer composite products from various end-use industries is generating high demand for flame retardant additives such as magnesium hydroxide. Plastics have extensive use in wiring insulation, wall plates, components of electronic equipment, automotive interior parts, building material, etc. Stringent fire safety regulations related to transportation, construction, and consumer durables are compelling manufacturers to use flame retardant resins and polymers. Magnesium hydroxide incorporated plastics meet the required fire safety ratings making it suitable for multiple applications. Additionally, it provides superior smoke retardation and reduced corrosiveness compared to other halogenated and inorganic flame retardants. This is favoring the consumption of magnesium hydroxide. The market players are focusing on capacity expansion to cater increasing demand from emerging economies of Asia Pacific and Latin America.

 

Porter's Analysis

Threat of new entrants: Low capital requirements pose a low barrier to entry but established brands, economies of scale of existing players and customer loyalty mitigate threats.

Bargaining power of buyers: Magnesium hydroxide has diverse applications, giving buyers alternatives and bargaining power. However, supplier concentration balances this power.

Bargaining power of suppliers: Few suppliers and critical importance of inputs gives them bargaining power over prices. However, product differentiation and established relationships balance this power.

Threat of new substitutes: Substitutes exist but none effectively replace all attributes, and switching costs are high. Regulations also favor magnesium hydroxide.

Competitive rivalry: Large established players dominate with scale advantages despite regional competition. Differentiation challenges commoditisation.
 

SWOT Analysis

Strengths: Wide applications leading to stable demand. Environment-friendliness boosting regulations. Leading brands with integrated production chains.

Weaknesses: Supply concentration risks instability. Production dependent on natural resources with geological constraints.

Opportunities: Growing construction and industrial production especially in Asia. Innovation extending uses in new areas like flame retardants.

Threats: Input price volatility and energy costs impact margins. Stringent quality and construction standards raise compliance costs.

 

Key Takeaways

The Global Magnesium Hydroxide Market Growth  size is expected to grow at a CAGR of 6.9% until 2030, reaching a value of US$ 1,437.63 Bn. Growing construction activities are a major driver of growth.

Regional analysis: Asia Pacific dominates with over 50% share due to strong construction industries in China, India, and other developing nations. The region will witness the fastest gains through 2030. Europe and North America are also sizable markets but growth will be higher in developing Asian and Latin American countries.

Key players: Key players operating in the magnesium hydroxide market are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd., Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin Marietta Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.

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