Magnesium Carbonate Market Intelligence Report Offers Growth Prospects
Magnesium carbonate (MgCO3) is a white colored solid inorganic salt present in various basic and hydrated forms as minerals. The most common anhydrous forms of magnesium carbonate include pentahydrate (Lansfordite), trihydrate (Nesequehonite), dehydrate (Barringtonite), and magnesite. Dypingite, hydromagnesite, and artinite are some of the magnesium carbonate minerals found in the basic form. Magnesium carbonate has a wide range of application in industries such as cosmetic, pharmaceutical, food, personal care, rubber, plastic, etc. as antacids, additives, laxative, drying agent, etc. The global magnesium carbonate market is expected to expand at significant CAGR, owing to high demand for magnesium oxide in pharmaceutical industry. The Asia-Pacific magnesium carbonate market accounts for relatively high revenue share, followed by North America magnesium carbonate market, attributed to the increasing consumption of food, cosmetics, and pharmaceutical products in the region.
Global Magnesium Carbonate Market: Dynamics
The important factor driving the global magnesium carbonate market include growing industry such as food, personal care, and pharmaceutical across the globe. Additionally, macroeconomic factors making a positive impact on the global magnesium carbonate market include changing consumer lifestyle and increasing per capita income as well as population. The significant trending factor for global magnesium carbonate market includes merger and acquisition of magnesium carbonate suppliers with end-use industry. The company manufacturing magnesium carbonate products has a substantial opportunity in regions such as North America, Europe, and Asia Pacific, attributed to rapidly growing healthcare sector over the forecast period.
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Global Magnesium Carbonate Market: Segmentation
The global magnesium carbonate market is segmented by product type, application, end-use, and by region. By end-use, the global magnesium carbonate market is classified as magnesium oxide production, cosmetics, toothpaste, fireproofing, flooring, dusting powder, food products, pharmaceuticals, and fire extinguishing compositions. Among the aforementioned segments, the magnesium oxide production segment accounts for relatively high revenue share in the global magnesium carbonate market over the forecast period followed by supplement segment, owing to high demand for magnesium to fulfil the requirement of the body remained unfulfilled by regular diet.
Based on the product type, the global magnesium carbonate market is segmented into:
Light Magnesium Carbonate (Magnesium Hydroxy Carbonates Hydromagnesite)
Heavy Magnesium Carbonate (Magnesium Hydroxy Carbonates Dypingite)
Based on the application, the global magnesium carbonate market is segmented into:
Color Retention Agent
Laxative
Drying Agent
Reinforcing Agent
Smoke Suppressant
Additive
Antacid
Based on the end-use, the global magnesium carbonate market is segmented into:
Magnesium Oxide Production
Cosmetics
Toothpaste
Fireproofing
Flooring
Fire Extinguishing Compositions
Dusting Powder
Food Products
Pharmaceuticals
Supplements
Global Magnesium Carbonate Market: Regional Overview
By geographies, the global magnesium carbonate market is segmented into seven regions -- North America, Western Europe, Asia-Pacific except Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa, and Japan. Among the regions, Asia-Pacific dominates the global magnesium carbonate market in terms of value, owing to a significant revenue share of the region in the pharmaceutical as well as food market. North America is followed by Asia-Pacific in the global magnesium carbonate market, attributed to high demand for pharmaceutical product such as laxatives and antacids in the region. The Western Europe is expected to account for significant value share in the global magnesium carbonate market, owing to predominance of lifestyle diseases due to busy lifestyle of consumers. In terms of value, Eastern Europe is expected to account for a moderate growth rate in the global magnesium carbonate market. Latin America and Middle East Africa is expected to have a relatively low opportunity for the magnesium carbonate market compared to other regions across the region, owing to the moderately growing economy and industries such as cosmetic, pharmaceutical, food, etc. in the regions. Overall, the outlook for the global magnesium carbonate market will have a positive growth over the forecast period.
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Global Magnesium Carbonate Market: Key Players
Few of the magnesium carbonate market players include Biotech Pharmacal Inc., Naikai Salt Industries Co., Ltd., Seidler Chemical Co, Inc., Barium & Chemicals, Inc., Celtic Chemicals Ltd., Anish Chemicals, Ams Fine Chemicals, Rahul Dyestuff Pvt. Ltd., Hebei Meishen Technology Co.,Ltd., Shyam Chemicals, Parchem fine & specialty chemicals, and Magnesia GmbH.
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