The rising use of magnesium carbonate in the cosmetic industry is expected to bolster healthy growth of the market, states Fortune Business Insights, in a report,The increasing inclination towards personal care products among consumers is expected to bolster the healthy growth of the market.

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The report on the magnesium carbonate market incorporates:

  • Excellent insights into the market
  • Meticulous scrutiny of the segments
  • Recent developments
  • Important data of key players
  • Leading countries
  • Key drivers and restraints

Market Driver:

Flourishing Cosmetic Industry to Boost Growth

The increasing consumer spending on cosmetics, personal care products is expected to spur opportunities for the market. The growing adoption of magnesium carbonate in various end-use industries like plastic, rubber, automotive, aerospace, and pharmaceuticals is expected to enable speedy expansion of the market. The growing application of MgCO3 in pharmaceuticals is expected to promote the growth of the market. Moreover, the increasing application of magnesium carbonate in flooring, fire extinguishing, smoke suppressant, reinforcing agent, and others can have an outstanding effect on the global market during the forecast period. Besides, the growing utilization of magnesium carbonate as food additives and drying agents in packaged food products is expected to favor the growth of the market. Similarly, the increasing demand for ready-to-eat food products are expected to subsequently spur opportunities for the market. Also, the heavy demand for beauty products among the female population can further improve the prospects of the market in the foreseeable future.

Nonetheless, the side effects associated with the excess consumption of magnesium can limit its adoption, in turn, obstructing the growth of the market. The complications related to gastrointestinal functioning, causing diarrhea and flatulence are expected to dampen the growth of the market.

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Regional Analysis:

Well-established Pharmaceutical Sector to Augment Market in North America

Geographically, Asia Pacific is expected to hold the largest share in the global market owing to the high number of ores found in China. China accounts for the largest share in Asia Pacific. The prospering glass, ceramic steel, cement, and paper industries are expected to enable healthy growth of the market in Asia Pacific. The market in North America is expected to hold the largest share owing to the high R&D investments by key players. The surging pharmaceutical sector is expected to further incite expansion in the region. Europe is predicted to experience a growth rate owing to the rapid industrialization in the European countries. Latin America & Middle East & Africa are expected to experience sluggish growth during the forecast period owing to the low investment by industry players in the region. Also, a lack of favorable policies has resulted in low investment in those regions.

Key Development:

Omya’s product portfolio of magnesium carbonate and calcium carbonate with high purity offers a wide range of particle sizes for liming applications catering to the European country.

The Report Lists the Key Companies in the Magnesium Carbonate Market:

  • Lhoist Group
  • Graymont Ltd
  • Shinko Kogyo
  • Speciality Minerals Inc.
  • Omya Group
  • SCR- Sibelco N.V.

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