Los Angeles, January 24, 2020 -QY Research has published detailed report based on extensive study of the Magnesium Hydroxide Flame Retardants market. The report is titled, “Global Magnesium Hydroxide Flame Retardants Market Research Report 2019,” which offers extensive market analysis while focusing on its essential characteristics including growth drivers, opportunities, segments, regions, and competitive landscape. According to the report, the global Magnesium Hydroxide Flame Retardants market is likely to touch the value of US$ 651.9 Mn by the end of 2025 from a previous valuation of US$ 487.2 Mn in 2018, exhibiting a moderate CAGR of 4.4% from 2020 to 2025.
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Global Magnesium Hydroxide Flame Retardants Market: Growth Drivers
● Magnesium Hydroxide Flame Retardant is largely used to suppress smoke, filling, and drip prevention and are largely used in manufacturing plastics and coating, which is likely to propel the growth of the market
● Global Magnesium Hydroxide Flame Retardants Market is likely to grow at a substantial pace due to increasing applications in building and construction industry
● Major consumption of Magnesium Hydroxide Flame Retardant is due to its usage in electric and electronic products for fire safety and insulation
Increasing Usage of Flame Suppressant Products is Likely to Drive the Growth of the Plastic & Rubber Industry Segment
The application segment is classified into the Plastic & rubber industry, Pharmaceuticals, Paints & Inks, Personal care & Cosmetics, Food & Beverage, Pulp & Paper Industry, and Others.
Increasing usage of plastic products has led to a demand for microwave-safe products. Magnesium Hydroxide Flame Retardants products are mainly used to suppress flame and have excellent heat resistant capacity, which is likely to drive the growth of the Plastic & rubber industry segment. The type segment is divided into Heavy Magnesium Carbonate and Light Magnesium Carbonate.
North America Market to Benefit from High Demand for Heat and Flame Resistant Products
North America is likely to grab a substantial share of the market due to the high demand for heat and flame resistant products. A robust pharmaceutical industry in the region is likely to boost the growth of the market. The rapid growth of the building and construction industry in the Asia-Pacific region is likely to foster the growth of the market.
Key Players Focus to Develop New Products
Some of the key players operating in the market are Kyowa Chemical Industry, Martin Marietta, ICL, Yinfeng Group, Konoshima, Huber Engineered Materials (HEM), Russian Mining Chemical Company, Nuova Sima, Tateho Chemical, Firewall, Wanfeng, XuSen, Jinan Taixing Fine Chemicals, Xinyang Minerals Group, and Nikomag. The market players are involved in product development and strategic expansions.
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