[240 Pages Report] The global magnesium carbonate market was valued at around US$ 267.3 Million in 2021, registering Y-O-Y growth of 4.4%. Magnesium carbonate sales are projected to increase at a CAGR of 4.7% by 2032.
Growing demand for magnesium carbonate which is widely used in the production of magnesium oxide, personal care & cosmetics, and pharmaceuticals is expected to drive the magnesium carbonate market.
| Attribute | Details |
|---|---|
| Magnesium Carbonate Market Base Year Value (2021A) | US$ 267.3 Million |
| Estimated Year Value (2022E) | US$ 279.5 Million |
| Projected Year Value (2032F) | US$ 443.5 Million |
| Value CAGR (2022 to 2032) | 4.7% |
| Collective Value Share: Top 3 Countries Worldwide (2022E) | 43.6% |
According to the latest research published by Future Market Insights (FMI), global magnesium carbonate market is anticipated to hold more than 5% - 7% of the market share in the overall magnesium carbonate market.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.4% |
| H1,2022 Projected (P) | 4.1% |
| H1,2022 Outlook (O) | 4.0% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 10 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 40 ↓ |
Future Market Insights has reviewed market dynamics and industry trends to estimate the recent growth prospects of the magnesium carbonate minerals market on half yearly basis. The market is principally subjected to significant development in construction and mining industry along with growing demand for minerals in certain key end use industries.
Magnesium carbonate is a key raw material used in the manufacture of magnesium oxide. It is anticipated that the expansion of the steel and cement sectors would increase demand for magnesium oxide as a refractory material, which will then increase demand for magnesium carbonate.
According to FMI analysis, the magnesium chloride market is expected to grow at a CAGR of 4.1% in H1, 2022 projected as compared to a corresponding actual CAGR of 4.4% in H1, 2021.
However, the H1, 2022 Outlook shows that the market for magnesium carbonate will increase at a rate of 4.0% CAGR. The main reason behind this growth rate is attributed to the growing demand for magnesium carbonate as a flame retardant and as a filler in the plastics and rubber industries.
Magnesium carbonate is used as a raw material for the production of magnesium and its alloys. Key characteristics of magnesium alloys includes low cost, high strength, and a light weight due to which they are being adopted in the automotive, aerospace, and defence industry.
Additionally, magnesium carbonate is utilized as a flattening agent, rheological modifier, and translucent filler in the paints and inks industry, and provides many properties in key end-use industries.
Key manufacturers players are focusing on adopting alternative distribution channels, to strengthen their market presence, further they are enhancing their connectivity in the regions with lower presence to increase their consumer base.
The demand for magnesium carbonate grew at 0.8% CAGR between 2017 and 2021. Increasing regulation in the plastics and polymer industry has impeded the demand for magnesium carbonate. Based on consumption patterns, the demand for magnesium carbonate has witnessed significant growth over the past few years.
Sales of magnesium carbonate are expected to increase during the assessment period at a 4.7% CAGR. The extensive use of magnesium carbonate in pharmaceuticals, personal care & cosmetics, and for the production of magnesium oxide will continue propelling demand in the market.
Principal Consultant
According to a journal published by MDPI, the global pharmaceutical market has grown dramatically. In 2019, the market was worth over US$ 1.25 trillion, as compared to US$ 390 billion in 2001. Magnesium carbonate is used as an antacid and laxative. It is one of the many salts of magnesium used clinically.
This anhydrous salt magnesite-based substance is widely used as a filler in antacid tablets, capsules, and a variety of other pharmaceutical medications.
According to FMI, the antacid market is expected to grow at a robust CAGR of 5.2% during the forecast period. In terms of value, sales of magnesium carbonate in the pharmaceutical segment are estimated to grow with a CAGR of 4.3% from 2022 to 2032.
The adoption of magnesium carbonate in the cosmetic and personal care industry as an absorbent, bulking agent, binder, and pH adjuster is fueling sales in the market. Personal care & cosmetics is a vital market for magnesium carbonate as it is utilized in the manufacturing of a wide range of personal care products, including talcum powders, sunscreens, and soaps.
Sales of magnesium carbonate in the personal care & cosmetics segment are anticipated to create an incremental opportunity of US$ 19.1 Mn during the forecast period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Magnesium carbonate is used as a raw material for the production of magnesium and its alloys. Magnesium alloys are gaining popularity for their applications in automotive and aerospace applications due to their stiffness, strength, and lightweight. Increasing adoption of magnesium alloy in the automotive industry for weight reduction, to improve vehicle performance, and to meet emission standards will drive sales in the market.
Further, due to its low cost, high strength, and light weight, magnesium alloy is being adopted in the defense industry. Also, the high damping capacity and enhanced shock mitigation & energy absorption properties of magnesium alloy make it a suitable choice for ballistic and armor applications.
Magnesium carbonate is significantly used as a raw material for the production of magnesium oxide. The growth in the steel and cement industries is expected to drive the demand for magnesium oxide as a refractory material, which in turn will boost the demand for magnesium carbonate.
Additionally, magnesium carbonate is utilized as an antacid in pharmaceuticals, as a flattening agent, rheological modifier, and translucent filler in the paints and inks industry, and provides many properties in multiple end-use industries.
Although magnesium carbonate is considered non-toxic and intake of magnesium carbonate in a small amount in food is not likely to have any side effects, but it may cause some side effects when used as a supplement or medication. These side effects include diarrhea, flatulence, nausea, and hypomagnesemia, among others. The tolerable intake level of magnesium supplements in the body is 350 milligrams per day, and high doses may lead to magnesium toxicity.
One of the main applications of magnesium carbonate is as a flame retardant agent and as a filler in the rubber industry where it is used to achieve specific properties. However, the availability of alternative materials is hampering the growth of the magnesium carbonate market.
For instance, magnesium hydroxide is preferred as a flame retardant over magnesium carbonate in the rubber industry. Within the ceramic industry, magnesium carbonate is substituted by dolomite and talc as they are more affordable than magnesium carbonate.
“Manufacturers in the U.S. are Preferring Magnesium Carbonate Powder for Various Applications”
The U.S. is expected to remain one of the leading markets in North America for magnesium carbonate. Total sales in the U.S. market are expected to reach about US$ 60.8 Mn by the end of the forecast period, growing at a CAGR of 4.5%.
In 2020, according to a study, North America accounted for 49.0 percent of global pharmaceutical revenues, while Europe accounted for 23.9 percent. According to IQVIA (MIDAS April 2021), 63.7 percent of new drugs introduced between 2015 and 2020 were sold in the U.S., as compared to 17.4 percent in Europe. Whereas demand from the pharmaceutical and health care industry is anticipated to bolster the magnesium carbonate market in the U.S.
“Growing Demand for Magnesium Carbonate Supplements Will Boost Growth”
In China's economy, the mining industry is quite significant. China is the world's largest producer of steel, coal, zinc, magnesium, tin, and other minerals. According to OEC in 2020, china exported US$ 632 Mn in magnesium carbonate, making it the first largest exporter of magnesium carbonate in the world. China is expected to create a significant incremental dollar opportunity for magnesium carbonate during the forecast period.
“Demand for Light Magnesium Carbonate is Anticipated To Augment Growth”
Based on type, the light magnesium carbonate is estimated to account for 68.8% of the total market share in 2022. Sales of light magnesium carbonate type are expected to increase has increased with Y-O-Y of 4.7% in the year 2022.
Light magnesium carbonate has extensive applications in various industries. It is mainly used in paints & inks, refractory materials, fire extinguishing agents, and as a packing and smoke inhibitor in the rubber and plastic industry.
It is also used during the production of glass, ceramics, and fertilizers. The growth of diverse end-use industries is expected to drive the growth in this segment.
“Incorporation of Magnesium Carbonate in the Plastic and Rubber Sector Will Remain High”
Magnesium carbonate acts as a reinforcing agent in plastic & rubber and is used for stuffing in rubber industries. It is used as a matte white coating for projection screens and stabilizer in automotive PVC plastisol. In the rubber industry, it is used as an alternative to starch. To provide whiteness and consistency of paper, magnesium carbonate is used as a coating agent and mineral filler in the paper industry.
Magnesium carbonate functions as a flattening agent, rheological modifier, and translucent filler in the paints and inks sector. It is used in concocted white paint to dilute printing ink and for the production of printing ink. Magnesium carbonate is preferably used in dry fire extinguishing powder composition, which is useful in combatting class C fires, i.e. electrical equipment fires.
Magnesium carbonate is also used in the production of glass, ceramics, and fertilizers, etc. It is increasingly used in fertilizers as a vital nutrient for the development of plants as it helps in activating enzymes.
Key magnesium carbonate manufacturers players in the market are focusing on adopting alternative distribution channels, such as the online channel, to strengthen their market presence. The majority of the leading players are focusing on providing the new and improved products whereas some manufacturers are focusing to expand their existing manufacturing sites. Some of the key developments are:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | US$ Million for Value and Tons for Volume |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Germany, Italy, France, The UK, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, and South Africa. |
| Key Segments Covered | Types, Application, End-Use & Region |
| Key Companies Profiled | Hebei Meishen Technology Co., Ltd; Konoshima Chemical Co., Ltd.; Kyowa Chemical Industry Co., Ltd.; Lehmann & Voss & Co. KG; Naikai Salt Industries Co., Ltd.; NUOVA SIMA Srl.; OSIAN MARINE CHEMICALS PVT. LTD; Buschle & Lepper S.A. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The magnesium carbonate market is anticipated to reach a valuation of US$ 279.5 Mn in 2022.
The magnesium carbonate market is anticipated to witness a growth rate of 4.7% over the forecast period of 2022 and 2032 in terms of value.
The magnesium carbonate market witnessed growth at a 0.8% CAGR between 2017 and 2021.
Hebei Meishen Technology Co., Ltd, Konoshima Chemical Co., Ltd., Kyowa Chemical Industry Co., Ltd., Lehmann & Voss & Co. KG, Naikai Salt Industries Co., Ltd., Dr. Paul Lohmann GmbH KG, NUOVA SIMA Srl. and others are the leading players in the market.
The top countries driving the magnesium carbonate demand are China, the U.S., and India.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product innovation & Diversification
4.3. Marketing and Brand management
4.4. Supply Chain Management
5. Global Magnesium Carbonate Market Demand Analysis 2017-2021 and Forecast, 2022-2032
5.1. Historical Market Volume (Mn Tons) Analysis, 2017-2021
5.2. Current and Future Market Volume (Mn Tons) Projections, 2022-2032
5.3. Y-o-Y Growth Trend Analysis
6. Global Magnesium Carbonate Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Pricing Analysis by Regions
7. Global Magnesium Carbonate Market Demand (in Value or Size in US$ Mn) Analysis 2017-2021 and Forecast, 2022-2032
7.1. Historical Market Value (US$ Mn) Analysis, 2017-2021
7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.2. Forecast Factors - Relevance & Impact
8.3. Supply-Demand Analysis
8.4. Value Chain
8.5. Market Dynamics
8.6. Impact of COVID – 19 Crisis
9. Global Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032, by Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Volume Analysis By Type, 2017 - 2021
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Type, 2022 - 2032
9.3.1. Light Magnesium Carbonate
9.3.2. Heavy Magnesium Carbonate
9.4. Market Attractiveness Analyses, By Type
10. Global Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032, By Application
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) and Volume Analysis By Application, 2017 - 2021
10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Application, 2022 - 2032
10.3.1. Antacid
10.3.2. Smoke Suppressant
10.3.3. Additive & Fillers
10.3.4. Drying Agent
10.3.5. Whitening Agent
10.3.6. Reinforcing Agent
10.4. Market Attractiveness Analysis By Application
11. Global Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032, By End Use
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) and Volume Analysis By End Use, 2017 - 2021
11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By End Use, 2022 - 2032
11.3.1. Magnesium Oxide
11.3.2. Pharma
11.3.3. Personal Care & Cosmetics
11.3.4. Paints & Inks
11.3.5. Plastic & Rubber
11.3.6. Pulp & Paper
11.3.7. Fire Extinguishing Composition
11.3.8. Others
11.4. Market Attractiveness Analysis By End Use
12. Global Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032, by Region
12.1. Introduction
12.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2017 - 2021
12.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2022 - 2032
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. East Asia
12.3.5. South Asia & Pacific
12.3.6. Middle East & Africa
12.4. Market Attractiveness Analysis By Region
13. North America Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021
13.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032
13.4.1. By Type
13.4.2. By Application
13.4.3. By End Use
13.4.4. By Country
13.4.4.1. U.S.
13.4.4.2. Canada
13.5. Market Attractiveness Analysis
13.5.1. By Type
13.5.2. By Application
13.5.3. By End Use
13.5.4. By Country
13.6. Market Trends
13.7. Drivers and Restraints Impact Analysis
14. Latin America Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021
14.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032
14.4.1. By Type
14.4.2. By Application
14.4.3. By End Use
14.4.4. By Country
14.4.4.1. Brazil
14.4.4.2. Mexico
14.4.4.3. Rest of Latin America
14.5. Market Attractiveness Analysis
14.5.1. By Type
14.5.2. By Application
14.5.3. By End Use
14.5.4. By Country
14.6. Market Trends
14.7. Drivers and Restraints Impact Analysis
15. Europe Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021
15.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032
15.4.1. By Type
15.4.2. By Application
15.4.3. By End Use
15.4.4. By Country
15.4.4.1. Germany
15.4.4.2. Italy
15.4.4.3. France
15.4.4.4. U.K.
15.4.4.5. Spain
15.4.4.6. BENELUX
15.4.4.7. Russia
15.4.4.8. Rest of Europe
15.5. Market Attractiveness Analysis
15.5.1. By Type
15.5.2. By Application
15.5.3. By End Use
15.5.4. By Country
15.6. Market Trends
15.7. Drivers and Restraints Impact Analysis
16. East Asia Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021
16.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032
16.4.1. By Type
16.4.2. By Application
16.4.3. By End Use
16.4.4. By Country
16.4.4.1. China
16.4.4.2. Japan
16.4.4.3. South Korea
16.5. Market Attractiveness Analysis
16.5.1. By Type
16.5.2. By Application
16.5.3. By End Use
16.5.4. By Country
16.6. Market Trends
16.7. Drivers and Restraints Impact Analysis
17. South Asia & Pacific Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021
17.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032
17.4.1. By Type
17.4.2. By Application
17.4.3. By End Use
17.4.4. By Country
17.4.4.1. India
17.4.4.2. ASEAN
17.4.4.3. ANZ
17.4.4.4. Rest of South Asia & Pacific
17.5. Market Attractiveness Analysis
17.5.1. By Type
17.5.2. By Application
17.5.3. By End Use
17.5.4. By Country
17.6. Market Trends
17.7. Drivers and Restraints Impact Analysis
18. Middle East and Africa Magnesium Carbonate Market Analysis 2017-2021 and Forecast 2022-2032
18.1. Introduction
18.2. Pricing Analysis
18.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2017 - 2021
18.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2032
18.4.1. By Type
18.4.2. By Application
18.4.3. By End Use
18.4.4. By Country
18.4.4.1. GCC Countries
18.4.4.2. Turkey
18.4.4.3. Northern Africa
18.4.4.4. South Africa
18.4.4.5. Rest of Middle East and Africa
18.5. Market Attractiveness Analysis
18.5.1. By Type
18.5.2. By Application
18.5.3. By End Use
18.5.4. By Country
18.6. Market Trends
18.7. Drivers and Restraints Impact Analysis
19. Key and Emerging Countries Magnesium Carbonate Market Analysis
19.1. U.S. Magnesium Carbonate Market Analysis
19.1.1. By Type
19.1.2. By Application
19.1.3. By End Use
19.2. Canada Magnesium Carbonate Market Analysis
19.2.1. By Type
19.2.2. By Application
19.2.3. By End Use
19.3. Mexico Magnesium Carbonate Market Analysis
19.3.1. By Type
19.3.2. By Application
19.3.3. By End Use
19.4. Brazil Magnesium Carbonate Market Analysis
19.4.1. By Type
19.4.2. By Application
19.4.3. By End Use
19.5. Germany Magnesium Carbonate Market Analysis
19.5.1. By Type
19.5.2. By Application
19.5.3. By End Use
19.6. Italy Magnesium Carbonate Market Analysis
19.6.1. By Type
19.6.2. By Application
19.6.3. By End Use
19.7. France Magnesium Carbonate Market Analysis
19.7.1. By Type
19.7.2. By Application
19.7.3. By End Use
19.8. U.K. Magnesium Carbonate Market Analysis
19.8.1. By Type
19.8.2. By Application
19.8.3. By End Use
19.9. Spain Magnesium Carbonate Market Analysis
19.9.1. By Type
19.9.2. By Application
19.9.3. By End Use
19.10. Russia Magnesium Carbonate Market Analysis
19.10.1. By Type
19.10.2. By Application
19.10.3. By End Use
19.11. BENELUX Magnesium Carbonate Market Analysis
19.11.1. By Type
19.11.2. By Application
19.11.3. By End Use
19.12. China Magnesium Carbonate Market Analysis
19.12.1. By Type
19.12.2. By Application
19.12.3. By End Use
19.13. Japan Magnesium Carbonate Market Analysis
19.13.1. By Type
19.13.2. By Application
19.13.3. By End Use
19.14. S. Korea Magnesium Carbonate Market Analysis
19.14.1. By Type
19.14.2. By Application
19.14.3. By End Use
19.15. India Magnesium Carbonate Market Analysis
19.15.1. By Type
19.15.2. By Application
19.15.3. By End Use
19.16. ASEAN Magnesium Carbonate Market Analysis
19.16.1. By Type
19.16.2. By Application
19.16.3. By End Use
19.17. GCC Countries Magnesium Carbonate Market Analysis
19.17.1. By Type
19.17.2. By Application
19.17.3. By End Use
19.18. Turkey Magnesium Carbonate Market Analysis
19.18.1. By Type
19.18.2. By Application
19.18.3. By End Use
19.19. Northern Africa Magnesium Carbonate Market Analysis
19.19.1. By Type
19.19.2. By Application
19.19.3. By End Use
19.20. South Africa Magnesium Carbonate Market Analysis
19.20.1. By Type
19.20.2. By Application
19.20.3. By End Use
20. Market Structure Analysis
20.1. Market Analysis by Tier of Companies [Magnesium Carbonate]
20.2. Market Concentration
20.3. Market Share Analysis of Top Players
20.4. Production Capacity Estimates of Top Players
20.5. Market Presence Analysis
21. Competition Analysis
21.1. Competition Dashboard
21.2. Primary Survey Analysis
21.3. Competition Deep Dive
21.3.1. Hebei Meishen Technology Co. Ltd
21.3.1.1. Overview
21.3.1.2. Product Portfolio
21.3.1.3. Key Financials
21.3.1.4. Sales Footprint
21.3.1.5. Strategy Overview
21.3.2. Naikai Salt Industries Co. LTD
21.3.3. NUOVA SIMA Srl
21.3.4. Celtic Chemicals Ltd.
21.3.5. Konoshima Chemical Co.,Ltd
21.3.6. Lehmann & Voss & Co.
21.3.7. Gee Gee Kay Pvt Ltd.
21.3.8. Buschle & Lepper S.A.
21.3.9. Kyowa Chemical Industry Co., Ltd.
21.3.10. OSIAN MARINE CHEMICALS PVT. LTD
21.3.11. Dr. Paul Lohmann GmbH KG
21.3.12. Israel Chemicals Ltd
22. Assumptions and Acronyms Used
23. Research Methodology
Explore Chemicals & Materials Insights
View Reports
Magnesium Carbonate Market
