Magnesium Hydroxide Flame Retardants Market Size, Share, Growth, and Industry Analysis, By Type (Chemical Synthesis, Physical Smash), By Application (PVC, PE, Engineering Thermoplastics, Rubber, Others) and Regional Forecast to 2032

MAGNESIUM HYDROXIDE FLAME RETARDANTS MARKET REPORT OVERVIEW

The global magnesium hydroxide flame retardants market size was USD 525.6 million in 2020 and the market is projected to touch USD 861.3 million by 2032, exhibiting a CAGR of 4.3% during the forecast period.

Magnesium hydroxide is a new type of flame-retardant filler, which releases bound water when decomposed by heat, absorbs a large amount of latent heat to lower the surface temperature of the synthetic material with which it is filled in the flame, preventing polymer degradation and cooling the produced. Materials burning gas. Magnesium hydroxide is widely used in biological treatment systems in meat processing plants, bakeries and chemical processing plants. It is used to treat metal-rich acidic wastewater from industry, resulting in a smaller sludge volume and a filter cake that removes water faster than caustic soda or lime.

The wastewater treatment segment dominated the global magnesium hydroxide market. Magnesium hydroxide has been widely used in the treatment of industrial metal-rich acidic wastewater. Magnesium hydroxide has a good removal effect on many contaminants in water, including inorganic and organic contaminants. The Magnesium Hydroxide flame retardants market has experienced rapid and significant growth in recent years and is projected to show continuous and significant growth during the period 2023-2031. The positive momentum of market dynamics coupled with expected long-term expansion suggests strong growth during the forecast period. Basically, the market is on the verge of a major and important development.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The global magnesium hydroxide flame retardant market has been badly affected by the outbreak of COVID-19 due to severe restrictions and stringent regulations, which have led to a decline in demand for magnesium hydroxide. In addition, the magnesium hydroxide production process has been disrupted due to social distancing and labor shortages. But in 2020, governments around the world implemented strict control measures to stop the spread of the COVID-19 pandemic, including restrictions on construction activities, suspension of manufacturing activities and more. The supply chain was restored in 2021 as a result of regulatory relaxation, which encouraged the growth of the magnesium hydroxide industry. Growing food sector is increasing the demand for magnesium hydroxide.

LATEST TRENDS

"Rising Research And Development Efforts Will Drive Market Growth"

In recent years, research and development efforts have increased significantly to exploit all properties of magnesium hydroxide. This research helps develop new products in various end-user industries. For example, in June 2021, a group of scientists and engineers at RMIT University in Melbourne, Australia developed a smart wound patch that used magnesium hydroxide and its powerful antibacterial and antifungal properties. The smart dressing contains nano sensors that emit light to inform patients about wound healing.

MAGNESIUM HYDROXIDE FLAME RETARDANTS MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Chemical Synthesis, Physical Smash.

Chemical Synthesis: The chemical synthesis of allows greater purity and particle size control of magnesium hydroxide, which is critical for-to achieve optimal performance of as a flame retardant. In addition, it allows the production of surface modified magnesium hydroxide, which can further improve its fire-resistant properties.

Physical Smash: Physically crushed magnesium hydroxide is inferior in quality compared to chemical synthesis. Surface modification can improve the compatibility of magnesium hydroxide with the polymer matrix, reduce its effect on the physical and mechanical properties of the material and improve its performance in harsh environments.

By Application

Based on application the global market can be categorized into PVC, PE, Engineering Thermoplastics, Rubber, Others.

Rubber: Magnesium hydroxide is widely used in the plastics industry as a fire retardant and smoke protection agent in various rubber matrices.

Engineering Thermoplastics: Magnesium hydroxide is mainly used as a non-halogenated flame retardant in thermoplastics. It is used in the production of the master mix. It is used as a smoker.

PVC: PVC, synthetic resin made by polymerization of vinyl chloride. It is second after polyethylene among plastics used in production and consumption.

DRIVING FACTORS

"Increasing Flame Retardants In Infrastructure Will Boost Market Growth "

Fire retardants market CAGR is driven by increasing demand for flame retardants in infrastructure. The market for plastic parts in the infrastructure and transport sector is very competitive. The fireproofing market is also mainly led by. Explosions and fire-related disasters are now more likely with residential and commercial buildings. As a result, industrialized countries now have stricter fire safety laws and policies that increase the use of fire retardants in construction to meet government standards. Increasing use of magnesium hydroxide in flame retardants to replace halogenated flame retardants due to increasing health concerns is expected to drive the magnesium hydroxide flame retardants market growth. According to Coherent Market Insights, brominated flame retardants are banned in most markets such as Europe, Asia Pacific and North America due to neurodevelopmental toxicity, thyroid effects and other human health side effects. demand for magnesium hydroxide as an alternative additive in those regions.

"Growing Demand In The Water Treatment Industry Fuel Market Growth"

Magnesium hydroxide has several applications in water treatment processes. By raising the pH of acidic water with magnesium hydroxide, it improves its suitability for various industrial applications - including cooling towers, furnaces and municipal water systems- and corrosion control. In wastewater treatment, magnesium hydroxide can act as a coagulant and flocculant. This facilitates the fixation and aggregation of suspended particles, which improves their ability to separate from water. It is particularly useful for removing turbidity and particles from water.

RESTRAINING FACTORS

"Availability Of Substitutes May Hinder Market Growth"

Availability of substitutes such as soapstone, which is an ideal neutralizing agent, is expected to hinder market growth. Most neutralization systems installed in industry use soapstone because of its higher reaction rate. However, the magnesium hydroxide system is expensive. These factors are expected to curb the growth of the market. However, the growing demand for magnesium hydroxide is expected to increase significantly in the coming forecast period.

MAGNESIUM HYDROXIDE FLAME RETARDANTS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific Dominating the Market due to Rising Growth And Investment In The Chemical And Materials Sector"

Asia Pacific holds the largest magnesium hydroxide flame retardants market share in the world and is expected to grow significantly during the forecast period. Asia Pacific and magnesium hydroxide production and consumption are stimulated by increasing growth and investment in the chemical and materials sector, as well as the expansion of end-user industries. Asia is the world and largest regional chemical market. Asia contributed 59.2 percent of the world chemical industry and percent of its turnover in 2021. This in turn will grow the magnesium hydroxide market. Several countries in the Asia-Pacific region have production capacity characterized by cost efficiency and economic viability. Therefore, these countries play an important role in improving the availability and use of magnesium hydroxide.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The magnesium hydroxide flame retardants market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

LIST OF TOP MAGNESIUM HYDROXIDE FLAME RETARDANTS COMPANIES

• Martin Marietta (U.S.)
• Kyowa Chemical Industry (Japan)
• Yinfeng Group (China)
• Huber Engineered Materials (HEM) (U.S.)
• Konoshima (Japan)
• Tateho Chemical (Japan)
• Nuova Sima (Italy)
• Russian Mining Chemical Company (Russia)
• Nikomag (Russia)
• Xinyang Minerals Group (China)
• Jinan Taixing Fine Chemicals (China)
• Wanfeng (China)
• Fire Wall (U.S.)

INDUSTRIAL DEVELOPMENT

January 2022: Huber Engineered Materials has completed the acquisition of MAGNIFIN. Martinswerk GmbH, a strategic business unit of HEM Fireproof additives (FRA), produces various halogen-free fire extinguishers, smoke extinguishers and mainly aluminum oxides and sells the acquired company and its products abroad.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.