Global Magnesium Silicate Market: Drivers and Restraints
Growing demand for emulsifier and anti-caking agents in food and beverages industry is primarily driving the growth of global magnesium silicate market. Moreover, the growing personal care industry due to rising lifestyle of consumers is also fuelling the growth of global magnesium silicate market as it is used as an emulsifier in cosmetics and other personal care products. Furthermore, the global supply chain has made the product easily available everywhere, which also has made the positive impact on the magnesium silicate market. In addition, the increasing applications of magnesium silicate due to extensive research and development programmes by the various companies is also fuelling the growth of the global magnesium silicate market. Moreover, the enormous growth in healthcare industry for last few years is also expected to increase the demand for magnesium silicate during the forecast period.
Although the global magnesium silicate market is growing but it also has some harmful effects on human body such as cough, sneezing, dyspnea, cyanosis and vomiting, which can be a limiting factor for the global magnesium silicate market in future period.
Global Magnesium Silicate Market: Region wise Outlook
The global magnesium silicate market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). ). Asia Pacific and Latin America are among the emerging clusters of the globe, which are anticipated to witness an above average CAGR over the forecast period. However, the global magnesium silicate market is expected to witness a steady growth by the end of 2027. Moreover, the demand for magnesium sulphate is increasing from developing countries due to growing health care industry owing to increasing disposable income of consumers.
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Global Magnesium Silicate Market: Key Players
Some of the prominent players in the global magnesium silicate market are-
Innovative Resins Pvt Ltd
Simplex Trades & Industries
Baroda Minerals Grinding Industries
Par Drugs & Chemicals Private Limited
Leisha Pharma Solutions Pvt. Ltd.
Triveni Interchem Pvt. Ltd.
Peekay Minerals & Allied Products