Research Nester Analytics LLC assesses the growth of the global magnesium hydroxide flame retardant market which is anticipated to be on account of the rising investment to accelerate research and development activities in magnesium hydroxide flame retardant.
New York – April 14, 2023 - Research Nester Analytics LLC’s recent market research analysis on “Magnesium Hydroxide Flame Retardant Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global magnesium hydroxide flame retardant market in terms of market segmentation by type, application, end users, and by region.
Increasing Use of Magnesium as a Flame Retardant in Plastics to Drive the Growth of Global Magnesium Hydroxide Flame Retardant Market
The increasing use of plastics-based fire-resistant products in a variety of end-use industries, including electrical & electronics, transportation, construction, and others, is expected to fuel demand for magnesium hydroxide flame retardants. The growing consumer awareness of the need to increase the fire safety of combustible materials and products is another factor driving up product demand. Additionally, the growing use of plastics in every sector due to their favorable characteristics is further boosting the market for magnesium hydroxide flame retardants.
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In addition, magnesium hydroxide works well as a smoke suppressant and flame retardant in low-smoke, fire-retardant plastic compounds for a variety of applications. It does this primarily by removing heat from the plastic as it decomposes into magnesium oxide and water. Magnesium hydroxide is frequently used as a flame retardant in cable insulation, insulation plastics, roofing, and various flame-retardant coatings. Magnesium Hydroxide is attracting attention because of its performance, price, low corrosiveness, and low toxicity. Magnesium hydroxide is effective at reducing smoke emissions from burning plastics.
Additionally, as landfill space declines, or becomes unpopular, incineration and recycling of used plastics will become more widespread. Plastics formulated with halogenated flame retardants pose problems for incinerators in design, operation, and maintenance, as well as a danger to public health from incineration product gases. Thus, there is increasing demand for halogen-free flame retardant (or magnesium hydroxide flame retardant)
Some of the major growth factors and challenges that are associated with the growth of the global magnesium hydroxide flame retardant market are:
Growth Drivers:
• Increasing the Use of Magnesium Hydroxide as a Flame Retardant in Plastics
• Increasing Magnesium Hydroxide Application in Building & Construction Materials
Challenges:
Different polymeric matrices use Aluminum trihydroxide (ATH), however, a significant amount is required to improve FR. To achieve a synergistic impact, ATH was investigated in combination with other chemicals. Expandable graphite (EG) particles enclosed in ATH are currently underway in R & D to create a core-shell structure that improved the fire behavior of stiff polyurethane foams (RPUFs). The LOI test showed that the value increased from 21.5 to 29.6% with the addition of 11.5 weight% FR. According to cone calorimeter data, EG-ATH particles affect the TSR and carbon oxide production (COP), which is acceptable for RPUFs' flame retardancy. Moreover, owing to the increasing alternatives available in the market, the MDH market is expected to face challenges related to supply and demand during the forecast period.
By type, the global magnesium hydroxide flame retardant market is segmented into chemical synthesis and physical smash. The chemical synthesis segment is to garner the highest CAGR over the forecast period. This can be attributed to the fact that the method is frequently utilized to develop novel forms of flame retardants that haven't yet been invented. The technique for chemical synthesis is sophisticated and has been perfected by top firms in Japan, the United States, and Europe. Magnesium hydroxide with high purity, uniform particle size distribution, and low impurity levels is manufactured by chemical synthesis. Small-scale magnesium hydroxide manufacture can be done using this technology affordably. However, environmental issues can arise from the reaction step's use of harsh solvents and corrosive acids.
Moreover, the demand for chemically synthesized MDH is growing across the USA, Asia Pacific, and Europe as the end product from the process gives a higher grade of fire retardant. Moreover, the development of engineered thermoplastics, fire retardants, and PE fire retardants are mainly made from chemically synthesized MDH, driving the demand for the segment during the forecast period.
By region, the Europe magnesium hydroxide flame retardant market is to generate a significant revenue by the end of 2031. The demand for magnesium hydroxide flame retardant is high in the region due to the large industrial base and high living standard of the population. In addition to this, the increasing use of it in the automotive industry drives the magnesium hydroxide flame retardant market growth in the region. According to the European Automobile Manufacturers Association, in 2020, there were 246.3 million motor vehicles on the road in the European Union, which grew by 1.2% compared to 2019. Furthermore, the government is implementing regulations in the region to reduce the use of halogenated flame retardants due to their harmful environmental and health impacts.
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This report also provides the existing competitive scenario of some of the key players of the global magnesium hydroxide flame retardant market which includes company profiling of ICL, Martinswerk/Huber (Magnifin), Kyowa Chemical Industry Co., Ltd., Konoshima Chemical Co., Ltd., Europiren B.V., Martin Marietta Specialties, Penoles Industries, Niknam Chemicals Private Limited, Xinyang Minerals Group, Tateho Chemical Industries Co., Ltd., NikoMag, KMT Industrial (HK) Limited, Nuova Sima, and Others.
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