In 2024, the magnesium carbonate market faces multiple pressures such as slowing domestic and foreign demand, and growth stagnates. Is the situation of magnesium carbonate industry not optimistic?
Hebei Messi Biology Co., Ltd. believes that there are about dozens of magnesium carbonate manufacturers in China, mainly distributed in Liaoning, Qinghai and Hebei, accounting for 60% of the total production capacity in the national market. Among them, there are very few companies with actual output of more than 10,000 tons, and most of the remaining output is distributed in companies with annual production capacity less than 1,000 tons. The scattered market distribution is one of the important factors restricting the development of the industry.
In addition, in recent years, factors such as environmental protection, epidemics, and domestic structural transformation have led to a serious overcapacity in the domestic magnesium carbonate industry, and the industry’s operating rate is less than 70%. With the continuous improvement of environmental protection requirements, most companies are facing rectification and suspension of production. The operating rate of the magnesium carbonate industry is generally sluggish. This year, China’s economic growth has slowed down, the internal and external troubles of the magnesium carbonate industry, the rapid increase in costs, the backwardness of equipment and research, and the dispersion of the industry. The situation of the magnesium carbonate industry will remain grim in the next few years.
Faced with the severe situation, Hebei Messi Biology Co., Ltd. believes that only by improving production technology and R&D, diversifying products, improving product cost control and working together with the industry on research, the magnesium carbonate industry will have a more beautiful “magnesium” world.