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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Geography - Segment Analysis

The Asia Pacific dominated the magnesium fluoride market in 2019 with a share of more than 38.72%, followed by North America owing to the rapid increase in agricultural and industrial activities. The increasing demand in the pharmaceutical industry owing to its property of low index and transparency in a wide range of wavelengths is increasing the demand of the magnesium fluoride market in the region.

However, North America is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to its increasing utilization as a protective coating on medical devices and glasses along with its anti-reflection property.

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, 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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