The global magnesium derivatives market size surpassed at US$ 37 Bn in 2019 and expected to reach around US$ 61 billion by 2027 with a CAGR of 5%, in terms of value, from 2020 to 2027.
Magnesium derivatives are extensively used in agriculture, pharmaceutical, chemical, and construction applications due to their unique combination of characteristics. For instance, magnesium oxide is primarily used as an excellent source of magnesium in fertilizers to decrease the magnesium deficiency of soil. This enhances the yield and nutritional value of the soil. Magnesium hydroxide is also used in the manufacture of flame retardants, as it is economical and environment-friendly.
Magnesium carbonate, another magnesium derivative, is prominently used in the production of magnesium carbonate. Magnesium carbonate and magnesium carbonate-based minerals, such as hydromagnesite are used as materials in the manufacture of flame retardants. The rise in demand for low impurity steel is boosting the demand for high performance refractory linings. Magnesium carbonate is a key raw material for magnesium oxide, and in turn, refractory linings. It significantly influences performance characteristics of refractories. This is estimated to boost the consumption of magnesium derivatives, thereby driving the magnesium derivatives market in the near future.
Key Drivers of Global Magnesium Derivatives Market
Rising Demand for Dead Burnt Magnesite to Offer Lucrative Opportunities
Fluctuation in Raw Material Prices to Hamper Magnesium Derivatives Market
Asia Pacific Dominates Global Magnesium Derivatives Market
Varying Market Share of Individual Magnesium Derivatives
By Product and its Application
Scope of the Report
The latest study collated and published by Vision Research Reports analyzes the historical and present-day scenario of the global magnesium derivatives market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the magnesium derivatives market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the magnesium derivatives market will progress during the forecast period of 2020-2030.
The report offers intricate dynamics about the different aspects of the magnesium derivatives market that aids companies operating in the market in making strategic development decisions. VRR’s study also elaborates on significant changes that are highly anticipated to configure the growth of the magnesium derivatives market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the magnesium derivatives market, and estimate statistics related to the market progress in terms of value (US$ Mn) and volume (tons).
The report includes company profiles of key players that are currently dominating the magnesium derivatives market, wherein various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered
The report provides detailed information about the magnesium derivatives market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the magnesium derivatives industry, so as to help them make successful strategies and take target-driven decisions.
The research methodology adopted by analysts for combining the magnesium derivatives market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the magnesium derivatives market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the magnesium derivatives market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the magnesium derivatives market.
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