According to IMARC Group latest report titled “Magnesium Silicate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on magnesium silicate market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global magnesium silicate market size reached US$ 2.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.13% during 2023-2028.
Magnesium silicate is a naturally occurring mineral composed of magnesium, silicon, and oxygen. It is a unique crystalline structure that gives it its characteristic softness and greasy or soapy feel. It is often found in metamorphic rocks and can be mined from deposits across the globe. It is widely used in various industries due to its diverse properties. In the cosmetic industry, it is a common ingredient in talcum powders, blushes, and foundations, providing a smooth and silky texture. Its ability to absorb moisture and oil also makes it a valuable component in personal care products, such as soaps, deodorants, and dry shampoos. It also has applications in the pharmaceutical industry as a lubricant for tablets and as an anti-sticking agent in certain medicinal formulations. Additionally, it is utilized in the production of ceramics, paints, plastics, and rubber, where it acts as a filler, enhancing product performance.
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Market Trends:
The market is primarily driven by the increasing demand for high-quality animal nutrition and the need to improve feed efficiency. Moreover, significant growth in the construction sector, automotive industry, and infrastructure development are contributing to the growth of the market. In line with this, the rising demand for paints and coatings is also strengthening the market as magnesium silicate is utilized in the paints and coatings industry as an extender pigment, matting agent, and anti-corrosion agent. Apart from this, the shift towards lightweight materials is impelling the market as magnesium silicate, has the low density and ability to enhance the properties of composites. Furthermore, ongoing advancements in manufacturing processes, such as improved extraction techniques and purification methods, are catalyzing the market as these advancements help enhance the purity, consistency, and performance of magnesium silicate.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- ABSCO Limited
- American Elements
- Atlantic Equipment Engineers
- Imerys S.A.
- Maryland Lava Company
- PQ Corporation
- Sorbent Technologies Inc.
- Spectrum Chemical Manufacturing Corp
- Surepure Chemetals Inc
- The Dallas Group of America
- Triveni Interchem Private Limited
Magnesium Silicate Market Segmentation:
Our report has categorized the market based on region, product type, functionality and application.
Breakup by Product Type:
- Natural
- Synthetic
Breakup by Functionality:
- Anti-caking Agent
- Purifying Adsorbent
- Bulking Agent
- Emulsion Stabiliser
- Others
Breakup by Application:
- Cosmetic and Personal Care
- Food and Beverages
- Glass
- Pharmaceuticals
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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