Global demand for magnesium hydroxide will grow by 4.6% in 2016 to reach 943,304 metric tonnes. China – the largest producer, consumer, and exporter of magnesium hydroxide – wants to maintain its position as the market leader, with total revenues expected to reach US $ 143.4 million, up from US $ 133 million in 2015. Environmental uses, including wastewater treatment and flue gas desulphurisation – will continue to track demand in 2016, representing 47.1% share of total revenues.
While the flame retardants wants to provide opportunities for high growth. Halogenated flame retardants are pending increasing scrutiny, prompting end-use industries to look for alternatives, such as magnesium hydroxide based flame retardants. The flame retardants application segment is projected to increase at 4.4% in 2016, and account for 21.8% share of overall revenues.
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Demand wants to be supported by widening applications of magnesium hydroxide in the pulp and paper industry as a neutralizing agent. Magnesium hydroxide is gaining traction as a cost-effective neutralizing agent in both mechanical and chemical bleaching processes – a trend that is becoming stronger in 2016 and beyond.
While China seeks to bolster the magnesium hydroxide market in Asia Pacific excluding Japan (APEJ), demand is expected to remain moderate in North America and Europe. Impact of applications in paper manufacturing – A key driving factor in APEJ – Wants to be less pronounced in North America and Europe. Highly reconstructive costs involved in replacing caustic soda with magnesium hydroxide for wastewater treatment is a key challenge for players in the market.
Xinyang Mineral Group, Premier Magnesia LLC, and Konoshima Chemicals are prominent players in the global magnesium hydroxide market. The key strategy of these players is to establish strong position in the robustly growing flame through application-specific product offering.
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Long-term outlook: The global magnesium hydroxide market is expected to increase at a CAGR of 5.8% during the forecast period 2016-2026, totaling US $ 1,024 mn in revenues. APEJ wants to continue to be the largest market, with a revenue share of 38.1% in 2026.