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The magnesium carbonate market size is forecast to reach US$330.6 million by 2027 after growing at a CAGR of 4.1% during 2022-2027.

HYDERABAD, TELANGANA, INDIA, November 1, 2022 /EINPresswire.com/ -- The magnesium carbonate market size is forecast to reach US$330.6 million by 2027 after growing at a CAGR of 4.1% during 2022-2027. Magnesium carbonate is a white inorganic salt that is insoluble in water. Anhydrous salt magnesite and the di, tri, and pentahydrate minerals, also known as barringtonite, are some of the most common magnesium carbonate forms available in the market. This salt is used in a wide variety of applications such as fireproofing, flooring, as a reinforcing agent in neoprene rubber, as an antacid in medicine, as a paste made with hydrogen peroxide for use in skulls, and various other applications. Magnesium carbonate finds its extensive use in the personal care and cosmetics sector where it is utilized in the production of toothpaste, talcum powders, soaps, hair bleach, and several other products.

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Key takeaways:

This IndustryARC report on the Magnesium carbonate market highlights the following areas -

1. Light magnesium carbonate dominated the market in 2021. This type of magnesium carbonate finds its uses in a wide range of applications, ranging from neoprene rubber to cosmetics, and pharmaceutical drugs, making it the go-to option for manufacturers in the market.

2. The pharmaceutical sector is projected to drive the market’s growth during the forecast period. For instance, according to the July 2020 report by the United States National Library of Medicine, overall expenditure in the US pharmaceutical grew 5.4% in 2019 compared to the previous year.

3. The Asia-Pacific region is projected to witness the highest demand for magnesium carbonate owing to the expanding personal care and cosmetics sector in the region. For instance, according to stats by the Ministry of Economy, Trade, and Industry (METI), the personal care and cosmetics market in Japan accounted for the world’s third-largest market in 2019 with a market value of US$35 billion.

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Segmental Analysis:

1. The filler application segment dominated the magnesium carbonate market in 2021. This inorganic solid comes in various forms in the market such as anhydrous salt magnesite and barringtonite and find its use in a wide range of applications. Magnesium carbonate is utilized as a filler material in neoprene rubber, as a paste made with hydrogen peroxide for use in skulls, drug formulation, cosmetics, printing inks, paper, and several other applications.

2. The personal care and cosmetics industry dominated the magnesium carbonate market in 2021 and is growing at a CAGR of 4.6% during the forecast period. Magnesium carbonate finds its extensive uses in the formulation of several personal care and cosmetic products such as talcum powders, hair bleach, shaving products, dry shampoo, face creams, and multiple other products.

3. The Asia-Pacific region held the largest market share in the magnesium carbonate market in 2021, up to 32%. The high consumption of magnesium carbonate is attributed to the growing demand for personal care and cosmetic products in the region. The increasing awareness among consumers regarding hygiene is amplifying the production and consumption of personal care products in the region and this is expected to amplify the higher consumption of magnesium carbonate by manufacturers in the market during the forecast period.

Competitive landscape:

The top 5 players in the Magnesium Carbonate industry are:

1. Naikai Salt Industries Co. Ltd.
2. Lehmann&Voss&Co
3. Omya
4. Nuova Sima Srl
5. Celtic Chemicals Ltd.

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B. Sodium Carbonate Market
https://www.industryarc.com/Report/16251/sodium-carbonate-market.html

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