Magnesium fluoride Market size is forecast to reach $930.45 million by 2025, growing at a CAGR of 3.78% during the forecast period 2020-2025. Magnesium fluoride is an inorganic, white crystalline compound, which is transparent over a wide array of wavelengths. Increasing usage of magnesium fluoride in oil refining and organic chemistry are the major factors driving the growth of the market. Its utilization as a protective coating on medical devices and glass is set to further enhance the overall market demand of magnesium fluoride during the forecast period 2020-2025.

Key Takeaways

The Asia Pacific dominated the Magnesium fluoride Market in 2019 owing to its characteristics of antireflection and transparency in a wide range of wavelengths which is used in oil refining. The Magnesium fluoride Market scope for different regions will be provided in the final report.

Increasing usage of magnesium fluoride as a drug and replacement therapy in patients with magnesium fluoride deficiency as hypomagnesaemia is likely to aid in the market growth of magnesium fluoride.

Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Magnesium fluoride Market report.

Side effects of using magnesium fluorides such as skin and eye irritation and respiratory problems is set to create hurdles for the Magnesium Fluoride Market.

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Applications - Segment Analysis

Optics segment held the largest share in the Magnesium fluoride Market in 2019 Magnesium fluoride compound has commercial uses in optics that are used in space telescopes. It occurs naturally as the rare mineral sellaite. Magnesium fluoride is transparent over an extremely wide range of wavelengths. Windows, lenses, and prisms made of this material can be used over the entire range of wavelengths from 0.120 μm (vacuum ultraviolet) to 8.0 μm (infrared). High-quality synthetic Vacuum Ultraviolet grade magnesium fluoride is quite expensive. Lower-grade magnesium fluoride is sometimes used in the infrared but here it is inferior to calcium fluoride. Magnesium Fluoride is tough and works and polishes well, but it is slightly birefringent and should be cut with the optic axis perpendicular to the plane of the window or lens. The optics is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.

Drivers – Magnesium fluoride Market

Rapid increase in agriculture and industrial activities

Increasing usage of magnesium fluoride as a drug and replacement therapy in patients with magnesium fluoride deficiency as hypomagnesemia

Magnesium Fluoride Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the magnesium fluoride market. In 2019, Magnesium fluoride Market share is consolidated by the top ten players present in the market. Magnesium Fluoride, the top 10 companies are Changshu Donghuan Chemical, Fairsky Industrial, Fluoro Chemical, Fujian Qucheng Chemical, Henan Kingway Chemical, Jiangxi Yono Industry, Morita Chemical Industry, Shangrao Comprehensive Fluoride Chemical, Stella Chemifa Corporation, and Wuxi Ruiyuan Chemical among others.

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