Magnesium Carbonate Market Size, Share, Demand, Growth & Trends by 2032
Magnesium carbonate is largely utilized as a raw material for the manufacturing of magnesium oxide, a refractory material employed in the cement and steel industries. 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. 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. In recent years, companies are focusing on developing new materials with high purity at competitive prices. Magnesium carbonate, due to its small size, high porosity, and non-toxicity, is adopted in the pharmaceutical industry. Pharmaceutical grade magnesium carbonate is preferred for the treatment of hyperchlorhydria, stomach aches and duodenal ulcer...