IMARC Group’s latest report, titled “Magnesium Silicate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global magnesium silicate market is expected to exhibit a CAGR of 5.02% during the forecast period (2022-2027). Magnesium silicate (MgO3Si) is a compound of magnesium oxide and silicon that appears as a fine, white, grit-free, and odorless powder. While natural magnesium silicate, such as talc and forsterite olivine, is crystalline in nature, its synthetic form is amorphous and insoluble in water or alcohol. It can be manufactured by the precipitation reaction between sodium silicate and soluble magnesium salt. It is widely used to absorb moisture, prevent caking, and enhance the texture of a product. As a result, magnesium silicate finds extensive applications as a food additive, filter medium, and catalyst carrier across the food processing, medical, cosmetics, and personal care industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Magnesium Silicate Market Trends:
The escalating demand for magnesium silicate from the food and beverage industry represents the primary factor driving the market growth. This can be attributed to the growing product utilization as an emulsifier and anti-caking agent in various food items. In addition, there has been widespread product adoption as a dietary supplement, part of the formulation ingredients in drug production, and a component of antiepileptic drugs. Along with this, the increasing pharmaceutical applications of magnesium silicate in antacid and antiulcer preparations, topical antifungal agents, acne treatment, and facial moisturizers have augmented the product demand. Besides this, the rising usage of magnesium silicate as an emulsifier, thickener, binder, abrasive, and surfactant in cosmetics and personal care products has accelerated product adoption rates. Furthermore, the surging product employment as a purifying absorbent in resins and vegetable and animal oils and as a filler in the rubber, ceramics, and glass industries is another major growth-inducing factor. Apart from this, the emerging applications of magnesium silicate complexed with arginine as an antiatherosclerotic agent and to promote bone and cartilage formation in mammals have catalyzed market growth. Other factors, including the surging popularity of cosmetics and personal care items, rising consumption of processed foods, favorable government initiatives, ongoing research and development (R&D) activities, and technological advancements, are also providing a positive thrust to the market growth.
- Based on the product type, the market has been bifurcated into natural and synthetic.
- On the basis of the functionality, the market has been classified into anti-caking agent, purifying adsorbent, bulking agent, emulsion stabilizer, and others.
- The market has been divided based on the application into cosmetic and personal care, food and beverages, glass, pharmaceuticals, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being 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, and Triveni Interchem Private Limited.
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