Magnesium Silico Fluoride Market Forecast and CAGR
According to latest research, The Magnesium Silico Fluoride market is projected to expand between 4.0% and 6.0% CAGR during the 2021-2031 assessment period. The growth of the market can be attributed due to the steady demand from textile industry across the globe. It has various application in building construction materials and in adhesives too.
Increase in the usage of waterproofing material in building construction is expected to boost the demand of Magnesium Silico Fluoride across the globe. The growing demand for improved properties and quality is expected to provide growth opportunities for the products market.
What is Driving Demand for Magnesium Silico Fluoride Market?
Major factors driving the market are the growing demand from the various end use industries, particularly construction, textiles etc. This compound acts as one of the major ingredient in the composition of the insect repellant & protective material and is applied on the surface of clothes by spraying on them which makes them mothproofs.
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High economic growth and increase in population are expected to drive this textile sector, thereby propelling the demand for this compound in clothing applications.
In the rubber industry, this compound is used as to coagulate rubber from latex so as to obtain physical properties in the finished product i.e. rubber. Thus rise in the demand of these rubber is going to increase the demand of Magnesium Silico Fluoride.
Construction industry is becoming a key segment for the consumption of Magnesium Silico Fluoride Market.
Increasing demand from the construction industries is one of the major factors driving the world’s Magnesium Silico Fluoride market. Various countries that are developing economically are improving their domestic infrastructure facilities so as to provide their population with good education, housing, and healthcare facilities.
This compound is commonly used as an additive for the hardening and waterproofing of concrete and cement mortars. It is also used for surface treatments, as a polishing and shinning agent for ceramic floors. The demand of these advanced compound has been increasing rapidly around the globe. Thus this construction industry is acting as one of the key usage industry for the product.
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Asia Pacific Magnesium Silico Fluoride Market Outlook
APAC is estimated to be the largest market for Magnesium Silico Fluoride in forecasted period. The market for this region is segmented into China, India, Japan, Malaysia, Indonesia, and the Rest of APAC. According to the World Bank, APAC is the fastest-growing region in terms of both population and economy.
The region has witnessed significant growth in the past decade, accounting for over one-third of the world’s GDP. High economic growth, coupled with the increasing population, is expected to drive the region’s industrial sector.
China and India are leading the products market in the Asia Pacific with the increasing growth and development of the regional infrastructure industry as this compound acts as a retarding agent in concrete. The region is expected to continue to remain the fastest growing market globally, attributing to the accelerating emergence of local stakeholders in the infrastructure and construction industries.
North America Demand Outlook for Magnesium Silico Fluoride Market Outlook.
North America is also expected to witness significant market growth of this compound on account of rising production & demand of technical textiles over the forecast period. However, demand in this region is supposed to grow at a moderate compared to the fast paced expansion in Asian region. The capacity additions by end use industries across the US and Canada are predicted to increase the market call over the outlook period.
Who are the Key Manufacturers and Suppliers of Magnesium Silico Fluoride?
Some of the leading manufacturers and suppliers include
- Hindustan chemical corporation (India)
- Kureha Corporation (Japan)
- Gujarat Fluorochemicals limited (India)
- Saint gobain (France)
- Arkema S.A. (France)
- Fengyuan India Private Limited (India)
- AGC Inc. (Japan)
- Solvay S.A. (Belgium)
- 3M (USA)
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