Magnesium Derivatives Market :Rising Demand for Dead Burnt Magnesite to Offer Lucrative Opportunitie

Magnesium Derivatives Market: Rising Demand for Dead Burnt Magnesite to Offer Lucrative Opportunities Key Highlights of Magnesium Derivatives Market The global magnesium derivatives market was valued at ~US$ 37 Bn in 2018. The magnesium derivatives market across the globe is anticipated to expand at a CAGR of ~5% during the forecast period.

The global magnesium derivatives market is driven by the rise in THE demand for agriculture and wastewater treatment.

Asia Pacific accounts for A major share of the global magnesium derivatives market, led by the strong demand for fertilizers and wastewater treatment in the region.

Read report overview@ https://www.transparencymarketresearch.com/magnesium-derivatives-market.html Key Drivers of Global Magnesium Derivatives Market Magnesium derivatives such as magnesium hydroxide, magnesium sulfate, and magnesium chloride carry smoke suppressant and flame retardant properties.

Magnesium derivatives are employed to reduce flammability in a wide range of materials.

Rise in THE number of fire incidents and increase in fire safety regulations & guidelines across the world are boosting the usage of flame retardants. Major industries are also taking proactive steps to avoid fire incidents. This is expected to drive the demand for flame retardants, thereby propelling the global magnesium derivatives market during the forecast period.

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Increase in the demand for food, decrease in cultivation area, rise in the demand for sulfur-free fertilizers, and growth in magnesium deficiency of soil owing to the usage of ammonia-based fertilizers are some of the key factors driving the demand for magnesium oxide in the fertilizers industry. This, in turn, is augmenting the global magnesium derivatives market.

Rising Demand for Dead Burnt Magnesite to Offer Lucrative Opportunities Dead burnt magnesia (DBM)/refractory magnesia is primarily used as a key component in refractory materials such as bricks, refractory mortars, gunning material, and cement.

It is used to manufacture magnesium oxide, which is employed in several applications, including refractory and steel industries. DBM is resistant to corrosion, chemicals, and high heat. The steel & iron industry is a key consumer of DBM. The consumption of DBM has been increasing due to the rise in the demand for steel refractory materials across the world. According to the World Steel Association, global steel production increased by 5.2% in 2018. Rise in the consumption of steel leads to an increase in the consumption of steel refractory bricks.

China is a key manufacturer and consumer of steel across the globe. It is a prominent producer of magnesite in the world, followed by Turkey and Russia. The country accounts for 50% share of MgO exports in the world.

Favorable economic conditions, growth in investments in infrastructure, and rise in industrialization in developing economies are key factors boosting the demand for dead burnt magnesite. This is anticipated to provide lucrative opportunities to the magnesium derivatives market.

Browse Press Release@ https://www.transparencymarketresearch.com/pressrelease/magnesium-derivativesmarket.htm Fluctuation in Raw Material Prices to Hamper Magnesium Derivatives Market Raw materials such as magnesite, dolomite, brucite, and olivine minerals are employed in the manufacture of magnesium derivatives as well as magnesium. Manufacturers of magnesium derivatives are dependent on suppliers to meet their requirements for raw materials.

Historically, the prices of magnesium derivatives have increased and decreased due to factors related to raw materials such as availability and supply. The prices of raw materials depend upon the production and supply of and demand for magnesium across the globe.

Regulations imposed on mining also hamper the production of magnesium derivatives.

Increase in duties on imports and exports is another factor responsible for fluctuation in the prices of raw materials.

Volatility in availability and fluctuating prices of raw materials can significantly hamper the global magnesium derivatives market. It can reduce the production and consumption of magnesium derivatives. It can also negatively affect the adoption of magnesium derivative-based applications.

Asia Pacific Dominates Global Magnesium Derivatives Market Asia Pacific held ~50% share of the global magnesium derivatives market in 2018.

China is one of the major consumers of magnesia and magnesite in the region.

The magnesium derivatives market in Asia Pacific is witnessing significant growth, due to an increase in the demand for high-strength steel in various end-user industries in developing economies such as China, India, and ASEAN. The market in India is projected to expand at a prominent CAGR during the forecast period, due to the growth of the country's economy, rise in urban population, and advancements in the construction industry.

Trade deficit and instability in the prices of raw materials are anticipated to restrain the markets in in North America and Europe Increase in construction activities in Colombia and GCC and rise in the demand for MgO in animal feed and fertilizer industries in Latin America are expected to boost the global magnesium derivatives market during the forecast period.

Varying Market Share of Individual Magnesium Derivatives YINGKOU MAGNESITE CHEMICAL IND GROUP CO., LTD is a leading player in the magnesium oxide as well as magnesite industry based in China. RHI Magnesite, Grecian Magnesite, Ube Industries Limited, and Martin Marietta Magnesia Specialties are the key players operating in the magnesium oxide segment. Other players include Nedmag B.V., Kyowa Chemical Industry Co, and MAGNESIA GmbH. K+S Group is a leading company operating in the magnesium chloride segment of the market. It accounted for 22.4% share in 2018. Compass Minerals, Intrepid Potash, Inc., Israel Chemical Company, and Karnalyte Resources Inc. together held 24.7% share of the market in 2018. Other key players operating in the magnesium chloride segment include Nedmag B.V., Prochem, Inc., and Rainbow Expochem Company.

The magnesium hydroxide segment is dominated by Japan- as well as China-based manufacturers. Konoshima Chemicals, Co Ltd and Kyowa Chemicals Industry Co Ltd are some of the players based in Japan that are engaged in the manufacture of

magnesium hydroxide. Martin Marietta Magnesia Specialties, Xinyang Minerals Group, and YINGKOU MAGNESITE CHEMICAL IND GROUP CO., LTD, together, held 16.7% share of the magnesium hydroxide industry in 2018. Other key players include Nedmag B.V., Huber Engineered Materials, and MAGNESIA GmbH.