From GlobeNewswire: 2024-08-05 01:00:00

The global Magnesium Hydroxide Market is estimated at US$ 813.2 million in 2024, with sales projected to rise at 5.3% CAGR from 2024 to 2034 due to increasing demand for water treatment chemicals amidst a global water crisis. Rising urbanization and industrialization are fueling demand for magnesium hydroxide in wastewater treatment plants.

Forecast shows worldwide demand for magnesium hydroxide reaching US$ 1.36 billion by 2034, with East Asia expected to account for 27.6% share. Sales in South Korea projected to rise at 6.7% CAGR. Leading players like Huber Engineered Materials and Konoshima Chemical driving innovation in the market through R&D and new product development.

In Japan, demand for high-purity magnesium hydroxide set to increase at 4.1% CAGR to reach US$ 108.3 million by 2034. Stringent environmental laws and focus on semiconductor manufacturing are driving demand for magnesium hydroxide in CMP techniques for silicon wafer polishing.

Metal magnesium market size expected to reach US$ 8.36 billion by 2034, growing at 5.2% CAGR. Magnesium sulphate market set to increase from US$ 861.6 million in 2024 to US$ 1.44 billion by 2034. Magnesium photoengraving plate market projected to rise to US$ 386.8 million by 2034.



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