Magnesium Carbonate Market: Heading for US$ 443.5 Million by 2032 at 4.7% CAGR

The global Magnesium Carbonate Market is anticipated to expand at a steady 4.7% CAGR over the forecast period, finds Future Market Insights (FMI) in a recent market analysis. Magnesium carbonate is primarily used as a raw material in the production of magnesium oxide, a refractory material used in the cement and steel industries.

Companies are increasingly focusing on producing novel materials with high purity at reasonable rates. Because of its tiny size, excellent porosity, and non-toxicity, magnesium carbonate is used in the pharmaceutical business. Pharmaceutical grade magnesium carbonate is the best treatment for hyperchlorhydria, stomach pains, and duodenal ulcers. It is also utilized in the paint and ink industries as a flattening agent, rheological modifier, and translucent filler, which has increased its usage.

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The continued expansion of sectors such as glass and ceramics, steel, cement, paints and inks, pharmaceuticals, and paper in countries such as China and India is expected to drive growth in the Asia Pacific magnesium carbonate market. Increased demand from the pharmaceutical, steel, and cement sectors in North America, the Middle East, and Africa are expected to fuel market growth.

As per FMI, geographically, the market is anticipated to be dominated by South Asia Pacific, which is expected to continue in the forthcoming years. Backed by the aforementioned factors, the global magnesium carbonate market is projected to top US$ 443.5Mn by 2032.

“Over the forecast period, sales of magnesium carbonates are expected to be driven by the growing pharmaceutical industry across the globe followed by the production of magnesium oxide and other vital end-use industries.” says an FMI analyst.

Key Takeaways:

• By type, demand for light industrial magnesium carbonate is expected to surge at a 4.2% CAGR over the forecast period.
• Due to neutralization property of magnesium carbonate, it has been broadly used for making antacid. Demand in the antacid segment is anticipated to grow at 5.2% CAGR during the assessment period.
• In terms of end use, sales in the personal care & cosmetics segment will grow at a 4.3% CAGR through 2032.
• The magnesium carbonate market in the U.S. is anticipated to expand at a 4.5% CAGR through 2032.
• China will emerge as an attractive magnesium carbonate market, with sales growing at a 5.6% CAGR.

Competitive Landscape

Leading players operating in the global magnesium carbonate market are focusing on increasing the utilization of magnesium carbonate in pharmaceuticals and personal care & cosmetics industries. Further, they are aiming to expand their production facilities and distribution channels. For instance:

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Top Key Players in the Global Market 

• Hebei Meishen Technology Co.,Ltd
• Konoshima Chemical Co., Ltd.
• Kyowa Chemical Industry Co., Ltd.
• Lehmann & Voss & Co. KG
• Naikai Salt Industries Co., Ltd.
• NUOVA SIMA Srl.
• OSIAN MARINE CHEMICALS PVT. LTD
• Buschle & Lepper S.A.

Key Segmentation

By Type:

• Light Magnesium Carbonate
• Heavy Magnesium Carbonate

By Application:

• Antacid
• Smoke Suppressant
• Additives & Fillers
• Drying Agent
• Whitening Agent
• Reinforcing Agent

By End Use:

• Magnesium Oxide
• Pharmaceuticals
• Personal Care & Cosmetics
• Paints & Inks
• Plastic & Rubber
• Pulp & Paper
• Fire Extinguishing Composition