Magnesium Carbonate Market: Wide Industrial use in the manufacture of magnesium oxide, personal care & cosmetics, and pharmaceuticals to drive the market

Magnesium Carbonate Market Overview

According to a recent survey conducted by ChemView Consulting, the Global Magnesium Carbonate Market grew at a CAGR of 3.9% between 2017-2021 and is estimated to be US$ 356.1  Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.4% and is expected to reach a valuation of US$ 547.7 Mn by 2032 end.

Throughout the projected period, the magnesium carbonate market is anticipated to be driven by rising demand for magnesium carbonate, which is widely used in the manufacture of magnesium oxide, personal care & cosmetics, and pharmaceuticals.

ChemView Consulting has analyzed that Magnesium carbonate is a raw material for the manufacturing of magnesium oxide. It is widely utilized in the pharmaceutical industry for its digestion properties, which has increased the demand for magnesium carbonate in this market.

In addition to this, it is used as a rheological modifier and translucent filler in paints and inks as well as a flattening agent for glass. The demand for magnesium carbonate will consequently increase due to the continuous expansion of various segments such as glass and ceramics, steel, cement, paints and inks, pharmaceuticals, and paper.

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Segments Covered in Report

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
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways from the Magnesium Carbonate Market

  • Based on the End Use, The global personal care, and cosmetics market is showing robust growth with increasing production and consumption of personal care products. This is expected to further propel the market’s growth during the forecast period.
  • Based on the application, At 45.0% of the market, filler applications had the greatest revenue share. The demand for magnesium carbonate as a filler material is gaining traction and is projected to move upward during the forecast period. This inorganic solid comes in various forms such as anhydrous salt magnesite and barringtonite and finds its use in a wide range of applications.
  • Based on Region, the Asia Pacific market held a sizeable revenue share of 43.5%. The increasing awareness among consumers regarding hygiene is amplifying the production and consumption of personal care products in the region, which is expected to amplify the higher consumption of magnesium carbonate by manufacturers in the market during the forecast period.

Competition Summary

Key companies covered in the market study are 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.

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Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.

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