Global Magnesium Carbonate Market Size, Share, and COVID-19 Impact Analysis, By Product (Heavy Magnesium Carbonate, Light Magnesium Carbonate, xx, xx, xx, xx & Others), By Application (Additive & Filler, Smoke Suppressant, Reinforcing Agent, Drying Agent, Antacid, Whitening Agent & Others), By End-Use (Pharmaceutical, Food and Beverage, Waterproofing, Walls & Panels, Concrete & Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The magnesium carbonate market was valued at USD 257.3 Million in 2021. The market is projected to grow USD 463.5 Million in 2030, at a CAGR of 4.6%.

The inorganic salt known as magnesium carbonate has the formula MgCO3. It is also referred to as magnesite, hydromagnesite, and bartonite. Both a fertiliser and an antacid are functions it serves. Materials that can withstand extremely high temperatures are frequently made using magnesium carbonate. This substance has a high melting point of approximately 2825°C and is soluble in all inorganic solvents as well as water. Numerous industries, including the plastic, rubber, and pharmaceutical sectors, use magnesium carbonate. High quality raw materials are used in the production of magnesium carbonate. The manufacturing facility is well-designed, with fully mechanised machinery and a cutting-edge drying system. From the charging of raw materials to the packaging of final items, there is little to no physical handling and exposure to the atmosphere. The production space and its surroundings are kept in good safety and hygienic condition.

COVID-19 ANALYSIS

A number of manufacturing plants have stopped producing because to the emergence of Covid-19 caused by SARS-CoV-2. The chemical sector has been negatively impacted by the coronavirus in every way possible. Almost everyone in the world has a broken supply chain, and the enforcement of lockdowns is likely to significantly reduce demand. As a result, it is anticipated that the global market for magnesium carbonate minerals will experience a setback and difficulties throughout the spread of the pandemic.

TREND

Rising Disposable Income Creating Demand of Cosmetics

The rise in lifestyle expenses linked to increased disposable income is driving up demand for cosmetics and personal care items, which in turn is driving up demand for magnesium carbonate. Magnesium carbonate is also anticipated to be adopted in a number of end-use industries, including plastic, rubber, automotive, aerospace, and medicines. It serves as a filler and antacid in other pills. It serves as the main raw material for making magnesium oxide and other derivatives, as well.

DRIVERS

Increasing Usage in Different Industries

The rising use of magnesium carbonate in a number of industries, including the aerospace and automotive, cosmetic, rubber and plastic, and pharmaceutical and healthcare sectors, will have an impact on market growth. This substance is used as a filler for producing tablets in the pharmaceutical industry.

RESTRAINT

Concerns Pertaining to Health Issues Due to Excess Consumption

The health issues due to excess consumption will likely to hamper the growth of the global magnesium carbonate market. Acute diarrhea and flatulence are two gastrointestinal adverse effects brought on by excessive magnesium use that are likely to impede market expansion.

SEGMENTATION INSIGHT

The global magnesium carbonate market is segmented by Product (Heavy Magnesium Carbonate, Light Magnesium Carbonate), By Application (Additive & Filler, Smoke Suppressant, Reinforcing Agent, Drying Agent, Antacid, Whitening Agent & Others), By End-Use (Pharmaceutical, Food and Beverage, Waterproofing, Walls & Panels, Concrete & Others) and Region. Based on the product, the market is categorized heavy magnesium carbonate, light magnesium carbonate. Based on application, the market is categorized into additive & filler, smoke suppressant, reinforcing agent, drying agent, antacid, whitening agent & others. Based on end-use, the market is categorized into pharmaceutical, food and beverage, waterproofing, walls & panels, concrete & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

By Product

Based on the product segment, the global magnesium carbonate market is categorized into heavy magnesium carbonate, light magnesium carbonate. The light magnesium carbonate segment has dominated the market share in 2020 of global magnesium carbonate market owing to due to widespread uses across numerous sectors. In addition to being employed in fire extinguishers, it is commonly utilised in paints, inks, refractory materials, packaging, and as a smoke inhibitor in the plastic and rubber industries.

By Application

Based on the application segment, the global magnesium carbonate market is categorized into additive & filler, smoke suppressant, reinforcing agent, drying agent, antacid, whitening agent & others. The additives and filler segment has dominated the market share in 2020 of global magnesium carbonate market owing to commonly used in the food industry for a number of purposes, including as a flouring agent and a color retention agent. Due to its light weight and adsorptive qualities, it is also utilised in the rubber sector.

REGIONAL INSIGHTS

The global magnesium carbonate market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

North America region is dominating the market share of global magnesium carbonate market owing to the chemical sector is fostering an environment that is encouraging the market for minerals containing magnesium carbonate to expand. Magnesium carbonate minerals are increasingly in demand by the paper and pulp industry as well as the paint and coating industry for use in the creation of adhesives, paints, and sealants.

However, Asia Pacific region is anticipated to grow over the next few years of global magnesium carbonate market. India is the largest supplier of magnesium carbonate, making Asia Pacific the market's dominant region. The development of the glass, ceramic, steel, cement, and paper sectors is also anticipated to propel the regional market, in addition to the large number of ores discovered in China. Due to its extensive R&D in the pharmaceutical industry, North America is anticipated to become the second most important region.

LIST OF KEY COMPANIES PROFILED:

· Buschle & Lepper S.A.

· Graymont Limited

· Hebei Meishen Technology Co.,Ltd

· Konoshima Chemical Co., Ltd.

· Kyowa Chemical Industry Co., Ltd.

· Lehmann&Voss&Co.

· Lhoist Group

· Naikai Salt Industries Co., Ltd.

· Nittetsu Mining Co., Ltd.

· NUOVA SIMA Srl.

· Omya AG

· Osian Marine Chemicals Pvt.Ltd

· SCR-Sibelco N.V.

· Minerals Technologies Inc.

· Others

Key Developments:

• July 2020- Omya has setup new granulation plant in Brazil to which the production line will deliver soil conditioning and calcium/magnesium nutrition products to farmers in Brazil and across South America.

SEGMENTATION

By Product

• Heavy Magnesium Carbonate
• Light Magnesium Carbonate

By Application

• Additive & Filler
• Smoke Suppressant
• Reinforcing Agent
• Drying Agent
• Antacid
• Whitening Agent
• Others

By End-Use

• Pharmaceutical
• Food and Beverage
• Rubber
• Plastic
• Chemical
• Personal Care & Cosmetics
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa