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

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 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.

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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.

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