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Global Magnesium Silicate Market to Grow at a Healthy Pace During 2020-2025, Aided by the Thriving Personal Care Industry

According to a new report by EMR titled, ‘Global Magnesium Silicate Market Report and Forecast 2020-2025’, the global market for magnesium silicate is being aided by the growing talc industry, which reached a value of USD 2.8 billion in 2019 and is projected to grow at a CAGR of 5% during 2020-2025 to attain a USD 3.7 billion by 2025.

The growing demand for magnesium silicate, particularly in the personal care and cosmetic industry, is driving the growth of the market. When hydrated, it is referred to as talc and is used cosmetically in talcum as well as baby powder as an adsorbent. Talc is generally recognised as safe by the FDA, and thus, this is further boosting the demand for magnesium silicate. The pharmaceutical industry is also one of the major consumers of the product. With the outbreak of COVID-19 pandemic, the pharmaceutical sector is witnessing a robust growth, which will significantly aid the magnesium silicate industry growth over the forecast period. To fulfill the rising demand from various industries, the manufacturers are developing application specific magnesium silicate, which is expected to enhance its sales.

American Elements, the world's largest manufacturer of advanced materials in both industrial bulk and laboratory/research quantities, sells magnesium silicate. The company also offers custom specific solutions for commercial as well as research applications. Moreover, the growing penetration of smartphones and internet has made online shopping a great success. The consumers can easily buy various cosmetic and personal care products at their convenience. The e-commerce giants, namely, Amazon.com, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Ltd (NYSE: BABA), provide various cosmetic products from leading brands like L'Oréal, Lakmé, and others, which is expected to boost their sales in the coming years. This, in turn, is expected to enhance the growth of the global magnesium silicate industry over the forecast period.

Market Breakup by Type, Functionality, Application, and Region:

  • By type, the market can be bifurcated into natural and synthetic. 
  • On the basis of functionality, the market is divided into anti-caking agent, purifying adsorbent, bulking agent, and emulsion stabilizer, among others.
  • The major applications of magnesium silicate include cosmetic and personal care, food and beverage, rubber, glass, and pharmaceuticals, among others.
  • Region-wise, the global market for magnesium silicate can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global magnesium silicate industry is being driven by the growing sales of cosmetics and personal care products.
  • The growing consumption of packaged food products is driving the demand for emulsifier and anti-caking agents in the food and beverages sector, thus, aiding the magnesium silicate industry growth.
  • The growing R&D activities and advancing pharmaceutical industry are further propelling the market growth.
  • The rising disposable incomes and the thriving retail sector are significantly contributing to the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for magnesium silicate for the periods (2015-2019) and (2020-2025). 
  • The report also offers historical (2015-2019) and forecast (2020-2025) market information for the types, functionalities, applications, and regional markets of magnesium silicate.
  • The report also gives the regional historical (2015-2019) and forecast (2020-2025) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter's Five Forces models.

The major players in the global magnesium silicate market are Spectrum Chemical Manufacturing Corp., Airotech Minerals, Neelkanth Finechem LLP, and Famous Minerals & Chemicals Pvt. Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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