Global Magnesium Hydroxide Flame Retardant Market TOC
Magnesium Hydroxide Flame Retardant Market size is estimated to reach USD 312.3 million by the end of 2031, growing at a CAGR of 4.18 % during the forecast period, i.e., 2022 – 2031. In the year 2021, the industry size of magnesium hydroxide flame retardant was around USD 208.5 million. The demand for magnesium hydroxide flame retardant is growing owing to the stringent government fire safety regulations worldwide. Magnesium hydroxide is recognized as a safe and effective flame retardant, and it meets the regulatory requirements for many industries. As a result, it is widely used in various applications, such as in building materials, electrical cables, and consumer electronics.
Moreover, with the growing population and industrialization, the discharge of wastewater and sewage is rapidly increasing. Owing to this, the growth of magnesium hydroxide flame retardant market is increasing, since adding magnesium hydroxide to wastewater, it can be utilized in various industries to prevent potential fires.
Author Credits: Smruti Ranjan, Rajrani Baghel
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