Applications of Magnesium Carbonate Minerals Market in the Construction, Chemicals, Pharmaceuticals & Personal Care Industry

Magnesium carbonate minerals are witnessing an upsurge in demand, owing to their application in multiple end-use sectors such as pharmaceuticals & personal care, and construction. Magnesium carbonate minerals are used to produce raw materials that serve as refractory materials for steel, metallurgy, and ceramic industries.

End users such as the chemical industry also use magnesium carbonate minerals to produce raw materials for plastic, polymers, paints, and fertilizers.

Magnesite, in meager amounts, is also used as a gem and lapidary material. Moreover, there is an expected revamp in the pharmaceutical and personal care industries, owing to the current Covid-19 pandemic, which, in turn, is anticipated to drive the magnesium carbonate minerals market in the near term. Refractory bricks & kilns and building & flooring materials are also paving the way for robust sales.

The global magnesium carbonate minerals market is expected to surpass US$ 689.0 Million in 2022 and is projected to expand at a CAGR of 5.1% over the forecast period (2022-2030).

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Key Takeaways from Global Magnesium Carbonate Minerals Market Study

"Countries all over the world are likely to enhance their medical, pharmaceutical, and personal care sectors as a consequence of the ongoing COVID-19 pandemic, which is expected to bring about multiple changes in these sectors. Magnesium carbonate minerals play an important role – directly and indirectly – in the pharmaceutical sector. Thus, over the coming years, the market is expected to witness demand growth."

Magnesium Carbonate Minerals Market: Competitive Landscape

Players such as Konoshima Chemical Co., Ltd., Naikai Salt Industries Co., Ltd., Hebei Meishen Technology Co., Ltd, and Kyowa Chemical Industry Co. Ltd. have been strategically expanding their market presence through expansions and acquisitions in the recent past.

These players are increasing their market presence gradually, rather than deploying aggressive growth strategies. R&D, coupled with the expansion of production capacity, remains the key strategy followed by magnesium carbonate mineral manufacturers to enhance productivity and capture potential market opportunities.

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East Asia to Offer Opportunities for Growth and Profitability

East Asia is anticipated to hold a prominent share in the global magnesium carbonate minerals market, owing to the increasing demand from pharmaceutical and personal care industries, along with refractories.

Manufacturers in East Asia are facing stiff competition, given the higher concentration of players in the region. Moreover, magnesium carbonate minerals have multiple end uses, hence, the market is likely to flourish in the years ahead. Easy availability of raw materials and cheap labour is poised to propel the magnesium carbonate minerals market in East Asia.

On the flip side, the chemical and automotive industries in East Asia are under extreme pressure due to the coronavirus (COVID-19) pandemic. Uncertainty in the global economic order and capital markets is shrinking the profit pools of industrial executives.

Chemical and automotive industries in East Asia are undergoing manufacturing standstills in order to avoid workers getting affected by the coronavirus, as well as address the demand drop from businesses and consumers during nationwide lockdowns. These factors are affecting the growth of the magnesium carbonate minerals market.

Magnesium carbonate minerals Market by Category

By Mineral:

By End-use:

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Looking for More Information?

The report on the magnesium carbonate minerals market published by Future Market Insights brings to the fore a pin-point analysis of the market and offers comprehensive information with historical demand data for 2015-2021 and forecast statistics for 2022-2030.

The study offers insightful information on the global magnesium carbonate minerals market based on various categories – mineral form and end use, across seven regions. This study highlights key market players who are well-known market vendors and have proven themselves as key shareholders in the global magnesium carbonate minerals market.

Some of the market players included in the report are Nouryon Holding BV, Evonik Industries AG, Cabot Corporation, W. R. Grace & Co., and Ecolab Inc., among others.

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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