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Global Magnesium Chloride Market: Information by Form (Liquid and Flakes), Grade (Industrial, Food & Pharmaceutical), Application (Deicing Agent, Dust Suppressant, Chemicals & Derivatives, Building Materials, Pharmaceuticals, Food & Feed and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2024
The development of this market is primarily pushed by the high call for magnesium chloride as an anti-icing agent as it very quick-performing and more efficient at melting than rock salt. The evidence of ice on surfaces of roads and automobiles is a common place issue confronted in topographies having a chilly climate; the removal of ice increases the risk of collisions. Other major motorists of the global magnesium chloride market include health advantages coupled with its intake as well as its use in cement manufacturing. Furthermore, the growing use of magnesium chloride in wastewater management is to be expected to extend rewarding openings to the performers in this market. The major factor anticipated to curtail the market growth is the availability of substitutes. The Global Magnesium Chloride Market is projected to record a CAGR of 4.65% to extend a amount of USD 212,823.3 Thousand by year 2024. Magnesium chloride (MgCl2) is a spontaneously arising mineral salt, usually taken from saltwater and saline. In sheer form, it is unscented and colorless, powdered stuff with a nasty taste. It is extremely solvable in water and is frequently discovered in the hydrated state as it tends to soak up humidity from the air. Also, on a commercial scale it is created by countering solid magnesium hydroxide with hydrochloric acid respectively.
The Global Magnesium Chloride Market has been segmented by grade, by form and by application. Based on grade, the industrial grade segment is expected to achieve a valuation of around USD 155,083.0 thousand by the end of the evaluation phase. The development of this sector can be recognized to its extensive use in functions such as the creation of magnesium, liquid chlorine, high-purity magnesia, textile and paper, cement, in freezing and fireproofing as well as a melting agent. On the basis of application, the melting agent application is forecasted to record a CAGR of 5.6% during the forecast period. The pressure for magnesium chloride as a melting agent is increasing owing to its low destructive nature and low harmfulness. By form, the liquid division is projected to record a major CAGR of over 4.5% during the assessment period. This is for the reason that the liquid magnesium chloride is extensively used as an anti-icing agent as it slows down the development of ice and precludes connection to the exterior of the road. Furthermore, it is favored over other replacements such as sodium chloride primarily since it is less acidic.
Geographically the Global Magnesium Chloride Market is split in regions like North America, Europe, Asia-Pacific, and Rest of the world. The European market is estimated to reach a profit of USD 54,120.8 thousand by the end of the said forecast period. This is owing to the request for magnesium chloride as an anti-icing and melting agent in countries such as Iceland, Greenland, Switzerland as well as Norway. The region of Asia-Pacific and its market recorded for the maximum share in 2017 and the provincial market is anticipated to record a CAGR of over 5% during the said forecast period. The high pressure for magnesium chloride in the province is credited to the swift development and growth in populations such as India, Thailand, Indonesia and Malaysia. Rapid economic development and expansion have stemmed in a rush in the amount of domestic and business production pursuits which has thus strengthened the requirement for cement and hence the need for magnesium chloride.
The proposed spectators in the Global Magnesium Chloride Market are Retailers, distributors, wholesalers, Magnesium chloride manufacturers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Magnesium Chloride Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Magnesium Chloride Market are companies like Nedmag B.V. (the Netherlands), DEUSA International GmbH (Germany), NikoMag (Russia), Skyline Chemical Corporation (US), Compass Minerals (US), K+S KALI GmbH (Germany), Merck KGaA (Germany), ICL (Israel), HuiTai Investment Co., Ltd (China) and Intrepid (US).
Market analysis
The development of this market is primarily pushed by the high call for magnesium chloride as an anti-icing agent as it very quick-performing and more efficient at melting than rock salt. The evidence of ice on surfaces of roads and automobiles is a common place issue confronted in topographies having a chilly climate; the removal of ice increases the risk of collisions. Other major motorists of the global magnesium chloride market include health advantages coupled with its intake as well as its use in cement manufacturing. Furthermore, the growing use of magnesium chloride in wastewater management is to be expected to extend rewarding openings to the performers in this market. The major factor anticipated to curtail the market growth is the availability of substitutes. The Global Magnesium Chloride Market is projected to record a CAGR of 4.65% to extend a amount of USD 212,823.3 Thousand by year 2024. Magnesium chloride (MgCl2) is a spontaneously arising mineral salt, usually taken from saltwater and saline. In sheer form, it is unscented and colorless, powdered stuff with a nasty taste. It is extremely solvable in water and is frequently discovered in the hydrated state as it tends to soak up humidity from the air. Also, on a commercial scale it is created by countering solid magnesium hydroxide with hydrochloric acid respectively.
Market segmentation
The Global Magnesium Chloride Market has been segmented by grade, by form and by application. Based on grade, the industrial grade segment is expected to achieve a valuation of around USD 155,083.0 thousand by the end of the evaluation phase. The development of this sector can be recognized to its extensive use in functions such as the creation of magnesium, liquid chlorine, high-purity magnesia, textile and paper, cement, in freezing and fireproofing as well as a melting agent. On the basis of application, the melting agent application is forecasted to record a CAGR of 5.6% during the forecast period. The pressure for magnesium chloride as a melting agent is increasing owing to its low destructive nature and low harmfulness. By form, the liquid division is projected to record a major CAGR of over 4.5% during the assessment period. This is for the reason that the liquid magnesium chloride is extensively used as an anti-icing agent as it slows down the development of ice and precludes connection to the exterior of the road. Furthermore, it is favored over other replacements such as sodium chloride primarily since it is less acidic.
Regional analysis
Geographically the Global Magnesium Chloride Market is split in regions like North America, Europe, Asia-Pacific, and Rest of the world. The European market is estimated to reach a profit of USD 54,120.8 thousand by the end of the said forecast period. This is owing to the request for magnesium chloride as an anti-icing and melting agent in countries such as Iceland, Greenland, Switzerland as well as Norway. The region of Asia-Pacific and its market recorded for the maximum share in 2017 and the provincial market is anticipated to record a CAGR of over 5% during the said forecast period. The high pressure for magnesium chloride in the province is credited to the swift development and growth in populations such as India, Thailand, Indonesia and Malaysia. Rapid economic development and expansion have stemmed in a rush in the amount of domestic and business production pursuits which has thus strengthened the requirement for cement and hence the need for magnesium chloride.
Major players
The proposed spectators in the Global Magnesium Chloride Market are Retailers, distributors, wholesalers, Magnesium chloride manufacturers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Magnesium Chloride Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Magnesium Chloride Market are companies like Nedmag B.V. (the Netherlands), DEUSA International GmbH (Germany), NikoMag (Russia), Skyline Chemical Corporation (US), Compass Minerals (US), K+S KALI GmbH (Germany), Merck KGaA (Germany), ICL (Israel), HuiTai Investment Co., Ltd (China) and Intrepid (US).
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