• John Watson

Global Magnesium Carbonate Market Size to grow by US$ 463.5 Million in 2030

The magnesium carbonate market is projected to grow USD 463.5 Million in 2030, at a CAGR of 4.6%.

Magnesium Carbonate Market

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Magnesium carbonate minerals are increasingly being used in the pharmaceutical and personal care industries as a binder, absorbent, pH adjuster, and bulking agent. In addition, China is thought to be the country with the highest consumption and production of magnesium carbonate minerals. Additionally, the chemical has seen an increase in application in the cosmetic industry. Magnesium carbonate is used as a filler, smoke suppressant, strengthening agent, and other things in flooring, fire extinguishers, cosmetics, pharmaceuticals, and personal care items. Additionally, it is utilised as a drying agent and food additive.

Significant amounts of magnesium carbonate are used as a raw material in the creation of magnesium oxide. The need for magnesium oxide as a refractory material is anticipated to be driven by the expansion of the steel and cement sectors, which will also increase demand for magnesium carbonate. Moreover, magnesium carbonate has various qualities that are used in a variety of end-use industries, including pharmaceuticals, paints and inks, flattening agents, rheological modifiers, and translucent fillers.

Companies have recently concentrated on creating novel materials with high purity and affordable costs. The pharmaceutical sector uses magnesium carbonate because of its tiny size, high porosity, and lack of toxicity. The use of magnesium carbonate of pharmaceutical quality is chosen for the treatment of duodenal ulcers, hyperchlorhydria, and stomach pains. Additionally, it is employed as a flattening agent, rheological modifier, and translucent filler in the booming paint and inks sector, which has increased usage.

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Magnesium and its alloys are produced using a lot of magnesium carbonate minerals as raw materials. The qualities of magnesium alloy are strength, rigidity, and lightness. The demand in the aerospace and automotive industries will rise as magnesium and its alloys are used more frequently in the production of vehicle and aircraft parts. Another element driving demand is the growing use of magnesium alloys in the automotive industry to reduce weight and enhance vehicle performance

The light magnesium carbonate segment has dominated the market share in 2020 of global magnesium carbonate market owing to due to widespread uses across numerous sectors. In addition to being employed in fire extinguishers, it is commonly utilised in paints, inks, refractory materials, packaging, and as a smoke inhibitor in the plastic and rubber industries. The additives and filler segment has dominated the market share in 2020 of global magnesium carbonate market owing to commonly used in the food industry for a number of purposes, including as a flouring agent and a color retention agent. Due to its light weight and adsorptive qualities, it is also utilised in the rubber sector.

North America region is dominating the market share of global magnesium carbonate market owing to the chemical sector is fostering an environment that is encouraging the market for minerals containing magnesium carbonate to expand. Magnesium carbonate minerals are increasingly in demand by the paper and pulp industry as well as the paint and coating industry for use in the creation of adhesives, paints, and sealants.

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Key Developments:

July 2020- Omya has setup new granulation plant in Brazil to which the production line will deliver soil conditioning and calcium/magnesium nutrition products to farmers in Brazil and across South America.

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