Magnesium Hydroxide Market Growth Accelerated by Rising uses in Fire Retardant Applications

 It is also used as a fire retardant in various thermoplastic and thermosetting polymer applications. Magnesium hydroxide has properties such as thermal stability, environmental friendliness, and moisture stability that makes it suitable for use in flame retardant applications. The global Magnesium Hydroxide Market is estimated to be valued at US$ 951.95 thousand in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rising demand for magnesium hydroxide from flame retardant applications is expected to be a key driver for market growth over the forecast period. Magnesium hydroxide reduces combustibility of materials by releasing water vapor when heated, forming a protective layer to prevent the spread of fire. It is widely used as a flame retardant in various plastics, rubbers, resins, and coatings. Increasing uses of polymer composites in automotive, construction, electronic and wire & cable industries where flame retardancy is a major safety concern is likely to boost market demand for magnesium hydroxide over the next few years.
Here are the requested Segment Analysis and Key Takeaways formatted as per instructions for the given Magnesium Hydroxide Market:

Segment Analysis

The Global Magnesium Hydroxide Market Size is dominated by flame retardants sub segment which accounted for approximately 40% of overall market share in 2024. Magnesium hydroxide is widely used as a flame retardant in various applications like plastics, rubber and coatings. It inhibits combustion through endothermic decomposition. When heated to high temperature, magnesium hydroxide breaks down into magnesium oxide and water vapor. This process absorbs heat and hinders the spread of fire by forming a protective layer. Growing use of plastics, rubber and other polymers in end use industries is driving demand for magnesium hydroxide as an effective and economical flame retardant.

Key Takeaways

The global magnesium hydroxide market is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: The Asia Pacific region currently dominates the global magnesium hydroxide market with over 35% share in 2024. China, India and Southeast Asian countries are major contributors to the regional market. This can be attributed to rapid industrialization, growing chemical industry and rising application of magnesium hydroxide in plastics and construction materials production in Asia Pacific economies.

Key players operating in the magnesium hydroxide market are AGCO Corporation, Flieg & Drexler, Martin Marietta Magnesia Specialties, Kyowa Chemical Industry, Lehmann&Voss&Co., Huber Engineered Materials, Konoshima Chemical, Tateho Chemical, Nuova Sima, Russian Mining Chemical Company and Baymag. AGCO Corporation and Martin Marietta Magnesia Specialties are recognized as technology leaders in production of high purity grades of magnesium hydroxide required in niche applications.

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