Magnesium Carbonate Minerals Market Size, Share, Demand & Growth by 2030

-

 The magnesium carbonate mineral market is witnessing significant disruptions in the supply chains of major regional markets. Uncertainty over capital markets and the impact of the pandemic on the global economy is likely to hit the industry in the short term. The magnesium carbonate minerals market is projected to cross a value pool of US$ 689.0 Million by the end of 2022. Widespread critical applications of magnesium carbonate minerals in construction, personal care, and medicine will aid in the recovery of demand following the end of the pandemic. Demand for magnesium carbonate minerals to reach US$ 1,029.0 Million between 2022 and 2030, as projected by a new Future Market Insights (FMI) study.

“Pharmaceutical, medical, and personal care industries are in fact gaining the momentum as a result of COVID-19 pandemic. This would result in multiple changes over the coming years, and the market will witness demand growth,” says the FMI Analyst.

Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-11455

Magnesium Carbonate Mineral Market – Key Takeaways

  • Pharmaceutical and personal care applications will witness a surge driven by the rising demand for OTC drugs.
  • The demand for hydromagnesite is anticipated to boom for polymers and flame-retardant formulations as an additive.
  • Cement and steel industries will be major magnesium carbonate mineral consumers, with magnesium oxide applications.
  • East Asia will be a prominent regional market in terms of production operations. However, North America and Europe will hold leading positions in the global market share, on the basis of consumption.

Magnesium Carbonate Mineral Market – Key Driving Factors

  • The rapid and continued growth of chemical industries, and the demand from paper, and paints industries are major growth drivers.
  • The surge of demand from private players in the medical sector for generic products remains a major growth influencer.
  • Refractory applications for ceramic and metallurgy industries are also supporting overall market growth.
  • Strict regulations associated with industrial workplace conditions are also a driver for global market growth.

Magnesium Carbonate Mineral Market – Key Constraints

  • Excess consumption of magnesium carbonate minerals can result in side effects such as flatulence and diarrhea, limiting adoption rates.
  • Rising competition from alternative materials such as talc and dolomite is restricting sales and revenue.

Competition Landscape

Key players in the magnesium carbonate mineral market are Kyowa Chemical Industry Co. Ltd., Konoshima Chemical Co. Ltd., Hebei Meishen Technology Co. Ltd., and Naikai Salt Industries Co. Ltd. Majority of these players are investing in expanding their market presence with acquisitions. Expansion of production capacities, and investments in research and development are also key strategies being followed by market players.

About the Chemicals and Materials Division at Future Market Insights (FMI)

The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing — ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Comments

Post a Comment

Popular posts from this blog

Thionyl Chloride Market Size, Share, Revenue Demand & Growth by 2034

-
Heightening concerns related to water treatment are likely to further fuel its growth engine in the near term. According to the latest report by FMI, the global  thionyl chloride market  is expected to reach a valuation of US$ 829.9 million by 2034. The industry is expected to experience revenue growth at a moderate CAGR of 4.8% during the forecast period. Thionyl chloride is used in various end-use industries such as agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis. The rising adoption of pesticides in developing countries and developments in the pharmaceutical industry are expected to drive the growth of the thionyl chloride market over the forecast period. However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market. Further, China – the epicenter of the pandemic – is
Read more

Bonded Magnet Market Size, Share, Revenue Demand & Growth by 2034

-
  The  bonded magnet market size  is projected to be around US$ 2,597.40 million in 2024. The demand for bonded magnets is anticipated to expand at a CAGR of 4.80% through 2034. The industry is projected to surpass US$ 4,150.99 million by 2034. The bonded magnet industry is primarily driven by the increasing demand for miniaturization and lightweight components in various applications such as automotive, consumer electronics, and medical devices. The rising focus on sustainability and environmental concerns has propelled the adoption of bonded magnets, which are manufactured using environmentally friendly processes and materials. One of the latest trends in the bonded magnet industry is the development of hybrid magnet systems combining bonded magnets with other materials like plastics or composites. These hybrid systems offer unique properties and performance characteristics, catering to specific application requirements such as weight reduction or thermal stability. One significa
Read more

Construction Chemicals Market Potential Growth, Size, Share, Demand And Analysis Of Key Players – Research Forecasts To 2031

-
 The essential nature of construction chemicals in the construction and engineering sector is expected to support market growth for the duration of the assessment period from 2021 to 2031. In a new market report, Future Market Insights (FMI) has stated the valuation of the market at US$ 39 Bn in 2020.  Construction chemicals  play critical roles in construction projects including coatings, additives, sealants and more. Affordable housing and smart city projects are major influencers of demand. Strong demand for concrete admixtures, plasticizers in particular is driving the growth of the construction chemicals market. The high degree of workability in areas requiring high levels of reinforcement in high rise buildings and public infrastructure projects will support sales prospects in the coming years. The Asia Pacific excluding Japan region is expected to remain dominant. Major urbanization projects and substantial manufacturing facilities in China are likely to aid expansion of the
Read more