Magnesium carbonate, belonging to the category of salt compounds, is an inorganic compound with the chemical formula MgCO3. Its appearance is white granular powder, slightly soluble in cold water, slowly soluble in acid. 

Overview of Market Development

According to our research data, the estimated revenue of the global magnesium carbonate market in 2024 is $178 million, an increase of 2.83% compared to 2023. This growth is mainly driven by the important role of magnesium carbonate in production, and the demand and sales volume of magnesium carbonate in the market continue to rise. ‌

In the next few years, with the continuous development of downstream industries, the demand for magnesium carbonate is expected to continue to rise, which will drive further market expansion. It is expected that by 2026, the global magnesium carbonate market revenue will increase to $214 million. However, with the continuous tightening of environmental regulations, it is expected that the market will experience a slight tightening from 2027, and its market size may decrease to $209 million by 2029.

Analysis of Market Competition Pattern

From the perspective of market competition, the concentration of the global magnesium carbonate market is moderate. According to our data, the total revenue of magnesium carbonate of the top 3 companies in 2023 was $74.18 million, with a total revenue share of 42.88%. The top three companies were Zehui Chemical, Lianing Xinghai Pharmaceutical, and Konoshima Chemical. In 2023, these three companies accounted for 15.74%, 13.88%, and 13.26% of the global magnesium carbonate market revenue, respectively.

Source: www.globalmarketmonitor.com

Segmented Market Analysis

From the perspective of product types, magnesium carbonate can be divided into two categories based on different forms and uses: light magnesium carbonate and heavy magnesium carbonate. Lightweight magnesium carbonate is mainly used as a filler and thickener in industries such as rubber, plastic, and paint, and is also used as a flame retardant and adsorbent; Heavy magnesium carbonate is commonly used in building materials, fillers, refractory materials, and other fields, with excellent thermal insulation, sound insulation, and fire resistance properties. Research has shown that the subdivision type of lightweight magnesium carbonate dominates the market. Data shows that global sales volume of lightweight magnesium carbonate is expected to reach 89965 tons in 2024, accounting for an estimated 86.14% of sales.

From the perspective of downstream application patterns, magnesium carbonate is widely used in the fields of pharmaceuticals, plastics and rubber, personal care and cosmetics, paints and inks, papermaking, and food and beverage. Among them, the plastic and rubber fields are the largest downstream application markets, with an estimated application share of 56.58% in 2024.

	Sales Volume (Tons)	Proportion
Segmented by Type
Light Magnesium Carbonate	89965	86.14%
Heavy Magnesium Carbonate.	14476	13.86%
Segmented by Application
Pharmaceuticals	8439	8.08%
Plastics and Rubber	59095	56.58%
Personal Care and Cosmetics,	9045	8.66%
Paints and Inks	5718	5.47%
Papermaking	8860	8.48%
Food And Beverage	9932	9.51%
Others	3353	3.215