The Global Magnesium Chloride market is forecast to reach USD 4.41 Billion by 2027, according to a new report by Reports and Data. Magnesium chloride is an inorganic compound comprising of two chloride and one magnesium ion. Salts of this compound are highly soluble in water, and its hydrated form can be extracted from sea water or brine. The compound has a wide arena of applications, which is one of the mentionable factors fostering the growth of the market. In the healthcare sector, it is used in medications as a source of magnesium ions, which are important for various cellular activities. These medications are a mineral supplement used for treating symptoms of heartburn, stomach upset, acid indigestion, and excessive stomach acid. Magnesium is also essential for the effective functioning of muscles, nerves, the heart, and bones. It has also been used in alloys and as a cathartic. In ice control, it is used for low-temperature de-icing of sidewalks, parking lots, and highways. It is one of the various substances used for wind erosion mitigation, soil stabilization, and dust control. Thus, such a wide arena of applications is supporting the growth of the industry.
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Market Scenario:
The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
Major Companies:
- Israel Chemicals Ltd
- K+S Kali AG
- Nedmag B.V
- Intrepid Potash Inc.
- DEUSA international GmbH
- Nikomag OJSC
- Weifang Yuze Chemical Co. Ltd
- Huitai Investment Group Co.Ltd
- Tianjin Changlu Haijing Group Co.Ltd
- Weifang Dongyuan Lianhai Chemical Co. Ltd.
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global Magnesium Chloride market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Magnesium Chloride market?
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Magnesium Chloride Market Segmentation:
Type Outlook:
- Solid
- Liquid
Application Outlook:
- Building material
- Deicing agent
- Food feed
- Drugs
- Chemical derivatives
- Dust suppressant
Regional Outlook:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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