The global Magnesium Carbonate market was valued at USD 89.57 million in 2023 and is expected to reach USD 109.56 million by the end of 2030, growing at a CAGR of 2.99% between 2024 and 2030.
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Magnesium carbonate is a white, crystalline, inorganic compound with the chemical formula MgCO3. It is found naturally in the form of the mineral magnesite, and can also be synthesized artificially. Magnesium carbonate has various applications across different industries and is often used as a source of magnesium in dietary supplements.
This report aims to provide a comprehensive presentation of the global market for Magnesium Carbonate, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Magnesium Carbonate.
The Magnesium Carbonate market size, estimations, and forecasts are provided in terms of output/shipments (MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Magnesium Carbonate market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Magnesium Carbonate manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Konoshima Chemical
Naikai Salt Industries
Rahul Magnesia
SCORA S.A.S
Dr. Paul Lohmann
Zehui Chemical
Meishen
Xingtai Messi
Liaoning Xinghai Pharmaceutical
Yixing Lark Fine Chemical
Yingkou Magnesite Chemical
Hebei Gaolin
Segment by Type
Light Magnesium Carbonate
Heavy Magnesium Carbonate
Segment by Application
Pharmaceuticals
Plastic & Rubber Industry
Personal Care & Cosmetics
Paints & Inks
Pulp & Paper Industry
Food & Beverage
Others
Asia-Pacific: This region dominates the magnesium carbonate market, with China being the largest producer and consumer of the compound. In 2021, China accounted for approximately 70% of the global magnesium carbonate production. Other Asia-Pacific countries, such as India and Japan, also contribute significantly to the market growth due to their expanding pharmaceutical and construction industries.
Europe: Europe is another major region for the magnesium carbonate market, with significant production and consumption in countries like Germany, the United Kingdom, and France. The European market is driven by stringent regulations promoting eco-friendly and sustainable materials in various industries.
North America: The United States is a leading consumer of magnesium carbonate in North America, primarily due to its well-established pharmaceutical and food industries. The region's focus on innovation and research in healthcare and other industries also contributes to the demand for magnesium carbonate.
Latin America: Countries such as Brazil and Mexico are key contributors to the Latin American magnesium carbonate market, with growing demand from the agriculture and construction sectors.
Middle East & Africa: The Middle East and Africa region accounts for a smaller share of the global magnesium carbonate market, but it is expected to grow due to the rising demand for water treatment chemicals and increasing infrastructure development.
Production by Region
China
Japan
Europe
ROW
Consumption by Region
North America
U.S.
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Europe
Germany
France
U.K.
Italy
Russia
Rest of Europe
Latin America
Mexico
Brazil
Middle East & Africa
Key Trends:
Growing demand in the pharmaceutical and food industries: Magnesium carbonate is increasingly being used in the pharmaceutical sector as an antacid, a laxative, and a dietary supplement. In the food industry, it serves as an additive, pH adjuster, and a source of magnesium fortification. These industries are expected to drive market growth, with a CAGR of around 4.7% during the forecast period.
Expansion of the construction sector: As a filler and reinforcing agent in the production of concrete, cement, and wall panels, magnesium carbonate is benefiting from the growth of the global construction sector. The construction industry's expansion is fueled by rapid urbanization, infrastructure development, and population growth.
Rising demand for lightweight materials in the automotive industry: Lightweight magnesium carbonate is increasingly being used as a filler in automotive plastics and composites, helping to reduce vehicle weight and improve fuel efficiency. The automotive industry's focus on lightweight materials is expected to contribute to market growth.
Increasing adoption of eco-friendly materials: With growing awareness of environmental issues, there is a rising demand for eco-friendly, biodegradable materials in various industries. As a natural mineral, magnesium carbonate aligns with this trend and is expected to gain more market share in the coming years.
Geographical trends: Asia-Pacific is expected to dominate the magnesium carbonate market due to its large industrial base, rapid urbanization, and growing population. North America and Europe are also significant markets due to the presence of mature industries and a focus on innovation and sustainability.
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