Magnesium Carbonate Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022-2027

Report Code: CMR 14564 Report Format: PDF + Excel

Magnesium Carbonate Market Overview

The magnesium carbonate market size is forecast to reach US$330.6 million by 2027 after growing at a CAGR of 4.1% during 2022-2027. Magnesium carbonate is a white inorganic salt that is insoluble in water.  Anhydrous salt magnesite and the di, tri, and pentahydrate minerals, also known as barringtonite, are some of the most common magnesium carbonate forms available in the market. This salt is used in a wide variety of applications such as fireproofing, flooring, as a reinforcing agent in neoprene rubber, as an antacid in medicine, as a paste made with hydrogen peroxide for use in skulls, and various other applications. Magnesium carbonate finds its extensive use in the personal care and cosmetics sector where it is utilized in the production of toothpaste, talcum powders, soaps, hair bleach, and several other products. The personal care and cosmetics sector is displaying exceptional growth globally owing to the increasing production and consumption of numerous products in this sector and this is expected to propel the market’s growth during the forecast period. For instance, as per the report by Cosmetics Europe, in 2020, the European personal care and cosmetics market was US$ 88.91 billion at retail price, making it the largest market in the world. Furthermore, magnesium carbonate use is gaining traction in the pharmaceutical sector. This material is used as an active pharmaceutical ingredient in the formulation of multiple tablets and capsules. The pharmaceutical sector is expanding globally with increasing production and processing of pharmaceutical drugs and this is projected to drive the market’s growth during the forecast period. For instance, as per the 2020 stats by the European Federation of Pharmaceutical Industries and Associations, the production of medicines in the European region stood at USD 317,942.75 million in 2019 which was USD 300,434.09 in the previous year. The strict regulations regarding the use of magnesium carbonate might affect the market’s growth during the forecast period.

COVID-19 Impact 

The market was impacted due to the COVID-19 pandemic. Challenges including disruption in the supply chain and idling of factories hindered the business in the market. Market players had to adopt contingency plans to make it through the pandemic and maintain a stable business operation. Many players still incurred losses and faced severe challenges owing to the severity of the pandemic. As per the March 2020 Corona Inventory Planning report by Lehmann&Voss&Co., the company stated about the disruption in the supply chain due to significant lockdown restrictions and closure of some plants amid the pandemic. The market experienced decent demand towards the end of 2020 with post-COVID-19 market opening and increased activities in multiple end-use industries. Going forward, the market is projected to witness robust growth owing to the expanding cosmetics demand and growth in the pharmaceutical sector. 

Report Coverage 

The report: “Magnesium Carbonate Market Report - Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Magnesium Carbonate Industry.  

By Type: Light Magnesium Carbonates, Heavy Magnesium Carbonates.
By Application: Filler, Additive, Smoke Suppressant, Reinforcing Agent, Drying Agent, Antacid, Whitening Agent, Others.
By End-Use Industry: Personal Care and Cosmetics, Pharmaceutical, Food and Beverage, Plastic, Rubber, Construction, Marine, Automotive, Industrial, Paper and Pulp, Paints and Inks, Agriculture, Others.
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa). 

Key Takeaways:

  • 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. 
  • 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.
  • 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.

 Figure: Asia Pacific Magnesium Carbonate Market Revenue, 2021-2027 (US$ Billion)

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Magnesium Carbonate Market - By Application 

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 rubberas a paste made with hydrogen peroxide for use in skulls, drug formulation, cosmetics, printing inks, paper, and several other applications. The demand for magnesium carbonate as the filler material is gaining traction and is projected to move upward during the forecast period. For instance, as per the February 2019 journal by the American Chemical Society (ACS), a study was conducted about the application of micrometer-sized mesoporous magnesium carbonate as filler material for the formulation of cosmetic powder. The journal states magnesium carbonate exhibits interesting properties as a filler substance in cosmetics with UV screens. Such increasing use of magnesium carbonate as filler material will increase the higher requirement of magnesium carbonate, in turn driving the market’s growth during the forecast period. 

Magnesium Carbonate Market - By End Use Industry 

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. The personal care and cosmetics sector is displaying robust growth globally with increasing production and consumption of personal care products and this is expected to further propel the market’s growth during the forecast period. For instance, according to the April 2019 stats by the India Brand Equity Foundation, India’s skincare segment in India will expand at an annual average growth rate of 10.4% through 2022. Similarly, as per the stats by the Cosmetics, Toiletry, and Perfumery Association, the European cosmetics market amounted to USD 92.58, making it the largest cosmetics market in 2019. Such high growth in the personal care and cosmetics sector is anticipated to increase the higher consumption of magnesium carbonate, in turn contributing to the growth of the market during the forecast period. 

Magnesium Carbonate Market - By Geography 

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. For instance, as per the report by India Brand Equity Foundation, India’s cosmetic and personal care sector is anticipated to become a US$15.17 billion market by 2024 compared to USD 9.98 billion in 2019. Similarly, as per the stats by International Trade Administration, Japanese cosmetics brands implemented the direct-to-consumer (D2C) model amid the pandemic and had considerable sales growth owing to high demand for cosmetic products in 2020. Such high demand for personal care and cosmetics products in the region is expected to increase the higher consumption of magnesium carbonate by personal care manufacturers during the forecast period. 

Magnesium Carbonate Market Drivers

Expanding pharmaceutical sector will drive the market’s growth 

Magnesium carbonate’s adoption in the pharmaceutical sector is gaining traction in the last few years. This anhydrous salt magnesite-based material finds its high use as a filler in antacid tablets, capsules, and several other pharmaceutical drugs. The increasing R&Ds of pharmaceutical drugs is increasing globally for the treatment of existing and new diseases and this is expected to stimulate the growth of the market during the forecast period. For instance, according to the March 2021 data by Multidisciplinary Digital Publishing Institute, North America accounted for the largest portion of pharmaceutical revenue (48.9%) and the US-led pharmaceutical market. The report also states pharmaceutical sales in the region will go past USD 600 billion in 2022. Similarly, according to the 2021 data by the India Brand Equity Foundation, generic drugs accounted for 20% of the global export in terms of volume, making India the largest provider of generic medicines in the world. Such high expansion in the pharmaceutical sector globally is expected to increase the higher consumption of magnesium carbonate by drug manufacturers and this will drive the market’s growth during the forecast period. 

Booming personal care and cosmetics market will drive the market’s growth 

The personal care and cosmetics sector are one the most important market for magnesium carbonate. This material is used broadly in the formulation of a wide variety of personal care products ranging from talcum powders to sunscreen and soaps. The personal care market is exhibiting robust growth globally with increasing demand for personal care products and this is projected to drive the marker’s growth during the forecast period. For instance, according to the stats by the Cosmetics, Toiletry and Perfumery Association, in 2020, the European region accounted for the world’s largest cosmetics market with Germany (USD 16.18 billion) leading the region. Similarly, as per the September 2021 report by Invest India, Reliance Retail will soon start cosmetic products selling online owing to the increasing demand for cosmetics in India. This huge growth in the personal care and cosmetics sector is projected to augment the higher consumption of magnesium carbonate by personal care product manufacturers, in turn propelling the market’s growth during the forecast period. 

Magnesium Carbonate Market Challenges 

The strict regulations regarding the use of magnesium carbonate might hamper the market’s growth 

The market is associated with strict monitoring by various governing bodies regarding the utilization of magnesium carbonate in various product formulations and this might affect the market’s growth during the forecast period. This chemical salt is used as a filler material in pharmaceutical drugs, neoprene rubber, as an additive in food items, and numerous other applications. However, due to possible side effects of magnesium carbonate on human health, proper monitoring is constantly carried out, especially in the food and beverage sector. The Food and Agriculture Organization regulates the use of magnesium carbonate by setting the limit. For instance, magnesium carbonate can be used for fermented vegetables with a maximum limit of 5000 mg/kg. Such strict regulations and limitations might hamper the market’s growth during the forecast period. 

Magnesium Carbonate Industry Outlook 

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the magnesium carbonate market. Major players in the magnesium carbonate market are:

  1. Naikai Salt Industries Co. Ltd.
  2. Lehmann&Voss&Co
  3. Omya
  4. Nuova Sima Srl
  5. Celtic Chemicals Ltd.
  6. Konoshima Chemical Co., Ltd.
  7. Buschle & Lepper S.A
  8. Others 

Recent Developments 

  • In January 2019, Omya launched Omya Magprill granule made with the combination of magnesium carbonate and calcium carbonate for soil and other agricultural applications. This launch allowed the company to expand its Magprill granule portfolio. 

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1. Magnesium Carbonate Market- Market Overview
    1.1 Definitions and Scope
2. Magnesium Carbonate Market- Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End Use Industry
    2.4 Key Trends by Geography
3. Magnesium Carbonate Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Magnesium Carbonate Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Magnesium Carbonate Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Magnesium Carbonate Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Magnesium Carbonate Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Magnesium Carbonate Market– By Type (Market Size -US$ Million, Billion)
    8.1 Light Magnesium Carbonates
    8.2 Heavy Magnesium Carbonates
9. Magnesium Carbonate Market– By Application (Market Size -US$ Million, Billion)
    9.1 Filler
    9.2 Additive
    9.3 Smoke Suppressant
    9.4 Reinforcing Agent
    9.5 Drying Agent
    9.6 Antacid
    9.7 Whitening Agent
    9.8 Others
10. Magnesium Carbonate Market– By End Use Industry (Market Size -US$ Million, Billion)
    10.1 Personal Care and Cosmetics
    10.2 Pharmaceutical
    10.3 Food and Beverage
    10.4 Plastic
    10.5 Rubber
    10.6 Construction
    10.7 Marine
    10.8 Automotive
    10.9 Industrial
    10.10 Paper and Pulp
    10.11 Paints and Inks
    10.12 Agriculture
    10.13 Others
11. Magnesium Carbonate Market - By Geography (Market Size -US$ Million / Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of Asia Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 ROW
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Magnesium Carbonate Market-Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. Magnesium Carbonate Market- Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix- Major Companies
    13.2 Market Share at Global Level- Major companies
    13.3 Market Share by Key Region- Major companies
    13.4 Market Share by Key Country- Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category- Major companies
14. Magnesium Carbonate Market- Key Company List by Country Premium Premium 
15. Magnesium Carbonate Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Magnesium Carbonate Market Analysis and Forecast , By Type Market 2019-2024 ($M)
2.Global Magnesium Carbonate Market Analysis and Forecast , By End Use Market 2019-2024 ($M)
3.Global Competition Landscape Market 2019-2024 ($M)
4.Global Magnesium Carbonate Market Analysis and Forecast , By Type Market 2019-2024 (Volume/Units)
5.Global Magnesium Carbonate Market Analysis and Forecast , By End Use Market 2019-2024 (Volume/Units)
6.Global Competition Landscape Market 2019-2024 (Volume/Units)
7.North America Magnesium Carbonate Market Analysis and Forecast , By Type Market 2019-2024 ($M)
8.North America Magnesium Carbonate Market Analysis and Forecast , By End Use Market 2019-2024 ($M)
9.North America Competition Landscape Market 2019-2024 ($M)
10.South America Magnesium Carbonate Market Analysis and Forecast , By Type Market 2019-2024 ($M)
11.South America Magnesium Carbonate Market Analysis and Forecast , By End Use Market 2019-2024 ($M)
12.South America Competition Landscape Market 2019-2024 ($M)
13.Europe Magnesium Carbonate Market Analysis and Forecast , By Type Market 2019-2024 ($M)
14.Europe Magnesium Carbonate Market Analysis and Forecast , By End Use Market 2019-2024 ($M)
15.Europe Competition Landscape Market 2019-2024 ($M)
16.APAC Magnesium Carbonate Market Analysis and Forecast , By Type Market 2019-2024 ($M)
17.APAC Magnesium Carbonate Market Analysis and Forecast , By End Use Market 2019-2024 ($M)
18.APAC Competition Landscape Market 2019-2024 ($M)
19.MENA Magnesium Carbonate Market Analysis and Forecast , By Type Market 2019-2024 ($M)
20.MENA Magnesium Carbonate Market Analysis and Forecast , By End Use Market 2019-2024 ($M)
21.MENA Competition Landscape Market 2019-2024 ($M)

LIST OF FIGURES

1.US Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
2.Canada Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
3.Mexico Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
4.Brazil Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
5.Argentina Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
6.Peru Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
7.Colombia Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
8.Chile Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
9.Rest of South America Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
10.UK Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
11.Germany Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
12.France Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
13.Italy Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
14.Spain Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
15.Rest of Europe Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
16.China Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
17.India Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
18.Japan Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
19.South Korea Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
20.South Africa Magnesium Carbonate Consumption Trends Market Revenue, 2019-2024 ($M)
21.North America Magnesium Carbonate Consumption Trends By Application
22.South America Magnesium Carbonate Consumption Trends By Application
23.Europe Magnesium Carbonate Consumption Trends By Application
24.APAC Magnesium Carbonate Consumption Trends By Application
25.MENA Magnesium Carbonate Consumption Trends By Application