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Magnesium carbonate (MgCO3), is a white, inorganic salt also known as dolomite. Magnesium carbonate is obtained from magnesite ore. It is insoluble in water and any inorganic solvent. Magnesium carbonate is used in flooring, fire extinguishing, cosmetics, pharmaceuticals, personal care products, as filler, smoke suppressant, reinforcing agent and other. Moreover, it is also used as a food additive and drying agent.
Rise in spending on lifestyle attributed to the rise in disposable income is boosting the demand for cosmetics, personal care products further boosting the magnesium carbonate market. Additionally, adoption of magnesium carbonate in various end-use industries like plastic, rubber, automotive, aerospace, and pharmaceuticals is expected to drive the market potentially. It is used as antacid and filler in other tablets. Additionally, it is used as primary raw material for production of magnesium oxide and other derivatives.
Key Market Driver -
Increasing use of magnesium carbonate in cosmetic industry.
Key Market Restraint -
Side effects due to excess consumption of MgCO3 .
However, side effect on the gastrointestinal functioning due to the excess consumption of magnesium is likely to hamper the market growth which causes acute diarrhoea and flatulence.
Based on product, the market is segmented into light and heavy magnesium carbonate. Based on end-use, the market is segmented into pharmaceuticals, rubber, plastic, chemicals, personal care & cosmetics, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global bioresorbable polymers market is competitive, with a number of global & regional players operating. Some of the key players in the material market includes Lhoist Group, Graymont Ltd, Shinko Kogyo, Speciality Minerals Inc., Omya Group, SCR- Sibelco N.V., and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the dominating region for the market as India is the major player in the magnesium carbonate market. Additionally, the high number of ores found is China, growth in glass, ceramic steel, cement, and paper industries is expected to drive the regional market. North america is expected to the second dominant region accredited to the extensive R&D in the pharmaceutical sector. Europe is expected to show significant growth due to the rapid industrialization in the European countries. Latin America & Middle East & Africa is expected to show sluggish growth by the end of forecast period.
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