August 01, 2022 02:48 ET | Source: FACT.MR FACT.MR
Dublin, Ireland, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global magnesium hydroxide market is currently valued at US $ 720.5 Million in 2022. This is expected to predict a CAGR of 5.3 % during the forecast period and is expected to reach a market value of US $ 1.22 Billion by 2032.
Key manufacturers have shifted their focus on production of magnesium hydroxide from sourcing of raw material. This has cut the expenses over time and has supported the growth of the market. Moreover, short-term goal of the manufacturers is to focus more on sustainable business and lower carbon footprint and increase efficiency of plants.
Also, long term plan of key manufacturers is to focus on strategic partnerships with raw material suppliers and third-party distributors for continuous supply.
In addition to this, pharmaceutical sector is expected to be a vital demand generator for high-potential regions such as Europe and North America. Additionally, seldom changes in products have lead to high volume sales in the market. Moreover, consumers usually prefer products with high-end quality in terms of purity. These factors are expected to offer attractive opportunities for the growth of the market during the forecast period.
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Besides this, key players in the market are focusing on development of innovative product technology and varied procedures for productivity and enhanced efficacy.
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Key manufacturers in the market are focused on organic growth by launching several brands under a single brand.
Moreover, manufacturers in North America are focusing on brand expansion across untapped regions/markets. Also, various players in the market are investing in green technology and other initiatives.
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Segmentation of Magnesium Hydroxide Industry Research
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Fact.MR, in its new offering, presents an unbiased analysis of the global Magnesium Hydroxide Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by Form (Liquid Magnesium Hydroxide & Powder Magnesium Hydroxide) By Grade (Industrial, Food & Pharmaceutical Grade Magnesium Hydroxide) By Application and By Region – Global Market Insights 2022 to 2032
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