Magnesium carbonate is a white solid material naturally occurring mineral. It is inorganic in nature and insoluble in water, and other inorganic solvents. The mineral is found in two types – light and heavy magnesium carbonate, which have different production process. It is majorly used for production of magnesium oxide.
Major factor driving growth of the global magnesium carbonate market includes high demand for magnesium carbonate in plastics, and rubber industries to make the rubber lightweight and to improve tensile strength of the rubber and plastic. Magnesium carbonate is used in pharmaceuticals industry as antacid, and as fillers for tablet production. It is a primary raw material for production of magnesium oxide, which is used in various end-use industries such as cement, and steel industry, as refractory material. Magnesium carbonate is used as matting agent for ceramic manufacturing, molten material for glass, and it is also widely used in paper industry as oil absorbents. Its wide usage across various industries is expected to support growth of the global magnesium carbonate market over the forecast period.
However, high consumption of magnesium carbonate leads to side effects such as diarrhoea, flatulence, and other gastrointestinal diseases, which is a primary factor restraining growth of this market.
The global magnesium carbonate market report is segmented on the basis of, type, end-user, and region. On the basis of region, the global magnesium carbonate market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
On the basis of end-user segment, the global magnesium carbonate market is segmented into magnesium oxide production, pharmaceuticals, plastic & rubber industry, personal care & cosmetics, and paints & inks. Magnesium oxide production accounted for the highest revenue share compared to other end-users.
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The market in Asia Pacific is estimated to contribute major revenue share in the global magnesium carbonate market, owing to increasing demand from various end-use industries including cement, steel, and rubber & plastic, and paper, in countries in the region. The market in North America is projected to stand second in revenue contribution to the global magnesium carbonate market followed by markets in Europe, Latin America, and Middle East & Africa, respectively.
Key players in the global magnesium carbonate market include Lhoist Group, Omya Group, SCR-Sibelco N.V., Specialty Minerals Inc., Nordkalk Oy Ab, Beihai Group, Graymont Limited, Nittetsu Mining Co., Ltd., and SHINKO KOGYO Co., Ltd.