GlobalMagnesium Carbonate Minerals Market: Overview
Magnesiumcarbonate refers to an inorganic salt and comes with the formula of MgCO3. It is also known asbarringtonite or hydromagnesite or magnesite. It plays the role of an antacidand fertilizer as well. Magnesium carbonate is extensively utilized in themaking of materials capable of tolerating extremely high temperature. Thischemical is soluble in any inorganic solvent or water and has a high meltingpoint of around 2825°C. Magnesium carbonate is utilized across many industries,such as plastic, rubber, and pharmaceutical industries. In addition to that,there has been a growing use of the chemical in the cosmetic sector. Suchmultiple uses of the chemical is expected encourage growth of the global magnesiumcarbonate minerals market over the timeframe of analysis, from 2020 to 2030.
Type, enduser, and region are the three important parameters based on which the globalmagnesium carbonate minerals market has been classified.
GlobalMagnesium Carbonate Minerals Market: Notable Developments
One of therelevant and important developments of the market that gives a quick view ofthe dynamics pertaining to global magnesium carbonate minerals market ismentioned as below:
· In October 2019, Switzerland-based maker of industrial minerals,Omya acquired US-based Kinetik Technologies. The latter is a distributor ofspecialty personal care products. With this acquisition, Omya is expected tofortify its position as one of the leading distributors of specialty productsand diversify product portfolio with the inclusion of specialty cosmetic.
Some ofthe prominent organizations in the global magnesium carbonate minerals marketcomprise the below-mentioned:
· SCR-Sibelco N.V.
· Nittetsu Mining Co., Ltd.
· Lhoist Group
· Specialty Minerals Inc.
· Omya Group
· Graymont Limited
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GlobalMagnesium Carbonate Minerals Market: Key Trends
The globalmagnesium carbonate minerals market is characterized by the presence of thefollowing restraints, drivers, and opportunities.
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Demand to Falter due to Outbreak of Global Pandemic, Covid-19
Thedevelopment of the global magnesium carbonate minerals market is estimated tobe influenced by its increased utilization in several industries, such asaerospace and automotive industry, cosmetic industry, rubber and plasticindustry, and pharmaceutical and healthcare industry. In the pharmaceuticalsector, this chemical finds utilization as fillers in the making of tablets.Besides, there is high demand for magnesium chloride for the purpose ofinvention of new products and is expected to augur well for the market in theyears to come. It is utilized as the basic element for the making of magnesiumoxide, which finds use in a wide variety of industries like cement, refractorymaterial, and cement. Wide scope of use for multiple applications is expected tosupport growth of the global magnesium carbonate minerals market in theforthcoming years.
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With theoutbreak of SARS-CoV-2 induced Covid-19, production activities of severalmanufacturing units have come to a halt. Coronavirus has adversely impacted thechemical industry in every possible way. Supply chain is disrupted in almostall parts of the world and the demand is likely to plummet further owing to theimposition of lockdowns. As such, it is expected that the global magnesiumcarbonate minerals market will witness a setback and challenges during theprevalence of the global pandemic.
Global Magnesium Carbonate Minerals Market: GeographicalAnalysis
In theglobal magnesium carbonate minerals market, Asia Pacific is likely to emerge asa formidable regional force accounting for a large chunk of the market. Indiais one of the leading nations in the region. Flourishing businesses of paper,cement, glass and ceramic are expected to open up plethora of opportunities forthe magnesium carbonate minerals market in the region.
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