Magnesium carbonate has certain hygroscopicity and alkalinity, and is widely used in industry. With the continuous advancement and upgrading of technology, the demand for magnesium carbonate in the fields of medicine and so on has gradually increased. The scale of the domestic magnesium carbonate market continues to expand, and the industry development prospects are broader with the increase in demand in the construction field.
Market scale of magnesium carbonate
Magnesium carbonate is an inorganic substance with a chemical formula of MgCO3, a molecular weight of 84.31, and a relative density of 3.037. White granular powder. Magnesium carbonate is widely used in life. It is used in industry, food, and medicine, among which light magnesium carbonate has the highest demand. Market analysis data of the magnesium carbonate industry shows that by 2023, the global magnesium carbonate market will reach US$48.63 billion, a growth of 61.8%, compared with US$30 billion in 2017. Due to the important role of magnesium carbonate in production, the market has promoted the demand and sales of magnesium carbonate, which will help promote the development of the global market.
my country’s magnesium carbonate industry market accounts for a large proportion in the Beijing-Tianjin-Hebei, Yangtze River Delta, and Pearl River Delta regions. The Beijing-Tianjin-Hebei, Yangtze River Delta, and Pearl River Delta regions have a good economic foundation, a relatively developed domestic economy, a high population density, and a high market demand for magnesium carbonate. The resource utilization rate of my country’s magnesium carbonate industry is still relatively low, the indicators of energy consumption and material consumption are still very backward, and the emission of “three wastes” is relatively large. Coal and water resources are distributed in reverse, environmental pressure is high, and corresponding environmental protection technologies are still relatively lacking. To protect the environment, it is necessary to significantly increase investment and carry out a large number of technological transformations. Technological leadership is the key and guarantee for the survival and development of industries and enterprises. my country’s magnesium carbonate industry and enterprises should attach importance to the development of technology. “Century-old stores” are always at the forefront of the industry, and “latecomers” must catch up.
Magnesium carbonate market prospects
With the adjustment of the global economic structure, the demand for magnesium carbonate has increased significantly in recent years and will exceed a certain scale in 2023. After careful research, it is concluded that the market size of magnesium carbonate in 2023 will have a greater growth than before. The demand for magnesium carbonate in the petrochemical industry will rise. As an important raw material for hydrogenation to produce gasoline, magnesium carbonate plays a vital role in the petrochemical industry. Moreover, with the increase of world oil reserves, the petrochemical industry has become more decentralized and internationalized. It is a very important industry for the petrochemical industry in both developing and developed countries, which has greatly promoted the development of the international economy. At the same time, it also brings considerable opportunities to the magnesium carbonate market, which will have a large-scale development in 2023.
The market analysis of the magnesium carbonate industry mentioned that with the continuous advancement of science and technology, the magnesium carbonate industry has improved in production capacity, manufacturing level and economic efficiency, and the production quality has also been continuously improved, which is more suitable for customer needs, making it a leading position in the market. At the same time, with the development of new technologies, the production process of the magnesium carbonate industry has become more and more automated, and energy saving and consumption reduction and production efficiency have also been greatly improved, making production safer, more efficient and product quality more stable.
The market analysis of the magnesium carbonate industry pointed out that the demand for magnesium carbonate in the construction industry will increase further. Due to the development needs of construction, with the rapid development of the world economy, building profiles, air conditioning energy utilization and building materials research and development are increasing significantly, which also puts higher demands on the demand for magnesium carbonate. It is expected that by 2023, the global construction industry’s demand for magnesium carbonate will reach a larger scale.
Market demand for magnesium carbonate
Construction field: Magnesium carbonate is increasingly used in building materials, such as wallboards, ceilings, floors, etc. Due to its high strength, fire resistance, and environmental protection, magnesium carbonate is widely used in decoration and isolation materials for various buildings. With the improvement of green building and environmental awareness, the demand for environmentally friendly building materials is also increasing, which further promotes the market demand for magnesium carbonate.
Chemical field: Magnesium carbonate is widely used in the chemical industry as a flame retardant, hygroscopic agent, acid neutralizer, etc. In the fields of electronic components, plastic products, etc., the flame retardant properties of magnesium carbonate are very important and can improve the safety of products, so the demand for magnesium carbonate is growing steadily.
Medical field: Magnesium carbonate is mainly used as a carrier for digestive agents and topical drugs in the medical field. It is widely used in preparations such as antacids and sustained-release drugs to help digestive function and control the rate of drug release. With the continuous advancement of medical technology and people’s attention to health, the demand for magnesium carbonate in the medical field is also expected to increase.
Overall, the market prospects for magnesium carbonate are broad, and the application areas of magnesium carbonate are gradually expanding under the changes in technology and the market. The demand for magnesium carbonate market is affected by the development of the construction industry, the improvement of environmental protection requirements and new technologies, and is expected to maintain steady growth in the future.
