The global magnesium hydroxide market size is expected to witness potential gains in the future, and register a significant CAGR of 4.3% over the forecast period (2019 - 2027).
Magnesium hydroxide is the inorganic compound used as a laxative to relieve occasional constipation (irregularity) and as an antacid to relieve indigestion, sour stomach, and heartburn. Commercially, magnesium hydroxide is produced by treating seawater with lime. Magnesium hydroxide suspension can be administered orally. It is also used as a fire retardant as it has smoke suppressing and flame retardant properties. Magnesium hydroxide is affirmed as generally recognized as safe by the U.S. Food and Drug Administration (FDA) and is therefore used as a food additive.
Increasing use of magnesium hydroxide as a laxative to relieve occasional constipation is expected to drive growth of the global magnesium hydroxide market. Moreover, in terms of industrial application, magnesium hydroxide is widely used as a flame retardant for articles such as roofing, isolation materials, plastic articles, and coatings. The compound is also used for neutralization of acids in the chemical industry, sugar refining, uranium processing and as a residual fuel-oil additive.
However, extended use or overuse of magnesium hydroxide for constipation may lead to persistent diarrhea, dehydration, and high magnesium in the body along with dependence on laxatives. These factors may hinder growth of the market.
On the basis of region, the global magnesium hydroxide market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global market is majorly driven by increasing use of magnesium hydroxide in the pharmaceutical industry. Increasing prevalence of occasional constipation in emerging economies such as India and China is expected to contribute to the market share of Asia Pacific. Moreover, Asia Pacific is also expected to hold dominant position in the global market and retain its dominance throughout the forecast period. Presence of major pharmaceutical companies in the U.S. is expected to boost the market growth in North America.
The market in Europe is expected to witness significant growth over the forecast period. This is owing to no major regulations or restrictions on the use of magnesium hydroxide in the European Union, owing to the compound’s low corrosiveness and non-toxic nature.
Key players operating in the global magnesium hydroxide market include, Almatis GmbH, BASF SE, Albemarle Corporation, China Minmetals Nonferrous Metals, Cyter Industries, Chemtura Corporation, and Israel Chemicals.
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