Published on : Dec 05, 2019
Magnesium derivatives are used to decrease the probability of flammability in different materials as they are presumed to be flame retardant along with being smoke suppressant. Different magnesium derivatives include magnesium sulfate, magnesium hydroxide and magnesium chloride.
Two major factors that include increased fire incidents and enhanced awareness regarding fire safety procedures surge the demand of flame retardants. Established industries are involved in taking measures to avoid fire accidents which contributes in the demand growth of fire retardants, thereby propelling the global magnesium derivatives market. A slew of factors including increased demand for food, decrease in cultivation area, growing demand of sulfur-free fertilizers and enhanced cases of soil magnesium deficiency are responsible for the rising demand of magnesium oxide in fertilizers ecosystem.
An intelligence report titled, “Magnesium Derivatives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.
Asia Pacific owns half of the global market
Global Magnesium derivatives market was evaluated to be around US$37Bn in the year 2018. The global market is expected to grow at ?5% CAGR during the forecast period owing to the surge in demand for wastewater treatment and agriculture.
Asia Pacific was assessed to own ?50% of the global magnesium derivatives market in the year 2018 owing to the huge consumption of magnesium derivatives such as magnesite and magnesia in China. The Indian market of magnesium derivatives is expected grow rapidly in the forecast period. This growth is influenced by various factors including growing economy, increase in urban population and flourishing construction industry. Magnesium derivatives market in regions such as Europe and North America are expected to face hurdles in growth in terms of raw material’s price fluctuations and trade deficit.
Major stake holders in global magnesium derivatives market include YINGKOU MAGNESITE CHEMICAL IND GROUP CO., LTD, RHI Magnesite, Martin Marietta Magnesia Specialties, Nedmag B.V., MAGNESIA GmbH, Compass Minerals and Karnalyte Resources Inc.
Global magnesium derivatives market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Global magnesium derivatives market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Global magnesium derivatives market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on magnesium derivatives.
An insightful and deep-dive assessment of the competitive assessment of the Global magnesium derivatives market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Global magnesium derivatives market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Global magnesium derivatives market: Research Methodology
Primary sources and secondary sources propel intelligence report on Global magnesium derivatives market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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