Magnesium Chloride Market
Magnesium chloride is used in diverse industries such as healthcare, RD, building construction, pharmaceuticals, food feed, and chemical sector. Besides, it finds extensive application as a deicing agent and dust suppressant. Resultantly, a vast amount of consumption in a wide range of application areas drives the magnesium chloride market on a global level.
Major Payers:
Players leading the global magnesium chloride market include K+S KALI GmbH (Germany), Compass Minerals (US), ICL (Israel), Merck KGaA (Germany), Intrepid (US), Nedmag B.V. (the Netherlands), DEUSA International GmbH (Germany), NikoMag (Russia), HuiTai Investment Co., Ltd (China), and Skyline Chemical Corporation (US), among others.
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According to Market Research Future (MRFR), the magnesium chloride market is expected to reach USD 212,823.3 MN by 2024. The market is expected to register a 4.65% CAGR throughout the assessment period (2017 – 2024). The ever-increasing global population is fueling the demand for quality housing and better infrastructure. This, as a result, creates a massive market demand, absorbing a vast amount of cement in construction activities.
Improving economic conditions act as a significant tailwind influencing the market growth, driving the construction and food market. Besides, the rising global economy is fostering the growth of the market, boosting the pharmaceutical and healthcare sector. Depleting water levels are prompting the usages of water, wisely, which is providing a huge impetus to the market growth, influencing the wastewater treatment market.
Given the health benefits associated with its consumption, a considerable amount of magnesium chloride is absorbed in the pharmaceutical and nutraceutical industry. Continually growing cement industry driven by the rising residential and commercial construction projects is propelling the growth of the market. Ice deposition on roads and vehicles is a common issue encountered in colder regions, which drives substantial market demand.
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The burgeoning Healthcare sector worldwide is expected to grow pervasively in the years to come, which implies more demand for medicines and hence, for magnesium chloride. With the rising advancements in technology, manufacturing techniques have been evolving rapidly, which are influencing the market growth, increasing the production of magnesium chloride.
Global Magnesium Chloride Market – Segment
The market is segmented into four dynamics to widen the scope of understanding,
By Form : Liquid and Flakes.
By Grade : Industrial, Food, and Pharmaceutical.
By Application : Deicing Agent, Dust Suppressant, Chemicals Derivatives, Building Materials, Pharmaceuticals, Food Feed, and others.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Magnesium Chloride Market – Regional Analysis
The Asia Pacific leads the global Magnesium Chloride Market Research . The significant market share of the region attributes to the rapid industrialization and urbanization in countries such as India, Thailand, Indonesia, and Malaysia. The APAC region accounts for over 60% to 65% of the total global population, which is increasing the demand for quality housings.
Besides, the rapid industrialization and urbanization promote the need for improved infrastructure, which is increasing the infrastructural and commercial construction activities. Resultantly, this increases the demand for cement and consequently, the demand for magnesium chloride. Driven by the burgeoning pharmaceutical industries, the region is expected to grow at a CAGR of over 5% during the forecast period.
North America and Europe also hold a substantial share in the global magnesium chloride market. In Europe, the magnesium chloride market is driven by the augmenting demand for anti-icing and deicing agent in countries such as Iceland, Greenland, Switzerland, and Norway. The European magnesium chloride market is projected to create a valuation of USD 54,120.8 MN by the end of the forecast period.
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Industry/ Innovation/Related News
October 15, 2019 ---- Thermo Fisher Scientific (the US), a biotechnology product development company, launched a new handheld X-ray fluorescence analyzer - IonicX XRF Analyzer that can help pharmaceutical and biopharmaceutical manufacturers to verify the identity of ionic salts in warehouses within seconds. According to the company, the new technology helps save time and money that is otherwise used on conventional analysis techniques.
This is achieved by directly putting laboratory-grade capabilities into the hands of raw material, and quality control managers irrespective of their location in the manufacturing facility said, Thermo Fisher.
It has the capability to identify and authenticate the five most-used salts in biopharmaceutical and pharmaceutical manufacturing, including magnesium chloride (MgCl2), sodium chloride (NaCl), potassium chloride (KCl), sodium hydroxide (NaOH), and calcium chloride (CaCl2).
Table of Content
1 Prologue
2 Market Introduction
2.1 Definition 18
2.2 Scope Of The Study 18
2.3 Market Structure 18
3 Market Insights
3.1 Market Insights 19
4 Research Methodology
4.1 Research Process 22
4.2 Primary Research 23
4.3 Secondary Research 24
4.4 Market Size Estimation 24
4.5 Forecast Model 25
4.6 List Of Assumptions 26
5 Market Dynamics
5.1 Introduction 27
5.2 Drivers 28
5.2.1 Extensive Use Of Magnesium Chloride In Anti-Icing Application 28
5.2.2 Health Benefits Associated With The Consumption Of Magnesium Chloride 29
5.2.3 Use Of Magnesium Chloride In Cement Production 29
5.3 Restraints 31
5.3.1 Availability Of Substitutes 31
5.4 Opportunity 32
5.4.1 Growing Adoption Of Magnesium Chloride In Wastewater Treatment 32
5.5 Trends 32
5.5.1 Benefits Associated With Magnesium Chloride Baths And Soaks 32
6 Market Factor Analysis
6.1 Supply Chain Analysis 33
6.1.1 Market Concentration 33
6.1.2 Key Industry Stakeholders 33
6.1.3 Logistics Scenario 34
6.1.4 Supply Chain Levels 34
6.2 Porter’s Five Forces Analysis 34
6.2.1 Threat Of New Entrants 35
6.2.2 Threat Of Rivalry 35
6.2.3 Threat Of Substitutes 35
6.2.4 Bargaining Power Of Suppliers 36
6.2.5 Bargaining Power Of Buyers 36
6.3 Pricing Analysis 36
6.3.1 Trade Analysis 36
6.4 Pricing Analysis, 2020-2028 (USD/TON) 39
7 Global Magnesium Chloride Market, By Form
7.1 Introduction 40
7.2 Liquid 41
7.3 Flakes 43
8 Global Magnesium Chloride Market, By Grade
8.1 Introduction 44
8.2 Industrial 45
8.3 Food And Pharmaceutical 46
9 Global Magnesium Chloride Market, By Application
9.1 Introduction 48
9.2 Deicing Agent 50
9.3 Dust Suppressant 51
9.4 Chemicals Derivatives 51
9.5 Building Materials 52
9.6 Pharmaceuticals 54
9.7 Food Feed 55
9.8 Others 56
10 Global Magnesium Chloride Market, By Region
10.1 Introduction 57
10.2 North America 61
10.2.1 US 64
10.2.2 Canada 66
10.3 Europe 69
10.3.1 Germany 73
10.3.2 France 75
10.3.3 UK 78
10.3.4 Italy 80
10.3.5 Russia 83
10.3.6 Spain 85
10.3.7 The Netherlands 88
10.3.8 Belgium 90
10.3.9 Austria 93
10.3.10 Rest Of Europe 95
10.4 Asia-Pacific 98
10.4.1 China 101
10.4.2 Japan 104
10.4.3 India 106
10.4.4 South Korea 109
10.4.5 Australia And New Zealand 111
10.4.6 Indonesia 114
10.4.7 Rest Of Asia-Pacific 116
10.5 Latin America 119
10.5.1 Mexico 122
10.5.2 Brazil 125
10.5.3 Argentina 127
10.5.4 Est Of Latin America 130
10.6 Middle East And Africa 132
10.6.1 Turkey 136
10.6.2 UAE 138
10.6.3 Saudi Arabia 141
10.6.4 Israel 143
10.6.5 South Africa 146
10.6.6 Egypt 148
10.6.7 Rest Of Middle East And Africa 151
11 Competitive Landscape
11.1 Introduction 154
11.2 Market Strategy Analysis 154
12 Company Profiles
13 Conclusion
13.1 Key Findings 172
13.2 Industry Trends 172
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