Magnesium Hydroxide Flame Retardant Market Segmentation:
Type Segment Analysis
The chemical synthesis segment in the magnesium hydroxide flame retardant market is estimated to gain a significant revenue share over the projected timeframe as it offers several advantages over physical methods. By the end of 2035, the chemical synthesis segment is expected to grow at a CAGR of 4.5% during the forecast period. Chemical synthesis allows for better control over the purity and particle size of the magnesium hydroxide, which is critical for achieving optimal performance as a flame retardant. Additionally, it also allows for the production of surface-modified magnesium hydroxide, which can further enhance its flame-retardant properties. Surface modification can improve the compatibility between the magnesium hydroxide and the polymer matrix, reduce its impact on the physical and mechanical properties of the material, and improve its performance in harsh environments.
Application Segment Analysis
Magnesium hydroxide flame retardant market from the construction segment is estimated to gain a significant revenue share over the projected time frame due to its high efficiency, low cost, and non-toxicity. The segment is expected to grow at a CAGR of 4.6% during the forecast period. Magnesium hydroxide is used as a coating on building materials, such as wood, textiles, and paper to make them more fire-resistant. The coating prevents oxygen from reaching the material and limiting the speed of flames, thereby acting as a barrier. For instance, investment in total residential & nonresidential building construction, in Canada (in USD Billion) was 221 billion which experienced an increase of 19.5% over 2020. Besides, government investments in a plethora of public infrastructure projects such as Housing Projects, Smart Cities, and Connectivity Projects are likely to augment the growth of the construction industry, thereby will increase the demand for magnesium hydroxide flame retardant.
Our in-depth analysis of the global magnesium hydroxide flame retardant market includes the following segments:
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