The global magnesium chloride market is anticipated to expand at a steady 4.3% CAGR over the forecast period between 2021 and 2031, finds Future Market
Insights (FMI) in a recent market analysis. Growing demand for deicing services is boosting demand for magnesium
chloride.
Owing to the increasing demand from deicing and chemicals & derivatives sector is expected to remarkably contribute towards the expansion of the magnesium chloride market.
Surging demand for magnesium chloride from the specific regions with extreme cold weather conditions is driving the
market. Magnesium chloride is hygroscopic in nature and quickly absorbs the moisture from the environment which makes it
suitable for the various industries such as construction, dust suppressants. Growing construction and mining industry is
expected to boost the demand for the magnesium chloride owing to its extensive usage to minimize the dust at industrial
area.Get a Sample Copy of Report@
Magnesium chloride is widely used across various industries for diverse applications, including deicing, dust
suppressants, chemicals & derivatives, building materials, pharmaceuticals, food & feed & others. Magnesium chloride is widely used in the construction industry along with the pharmaceutical sector which is
expected to boost the market in the forecast period.
According to the report, the global magnesium chloride market is expected to reach more than US$ 580.3 Mn by the end of
2031, at a compound annual growth rate of 4.3% during the assessment period.
Geographically, the market is predicted to be dominated by East Asia, which is expected to continue in the future
evaluation period. Backed by the aforementioned factors, the global magnesium chloride market is projected to top US$
580.3Mn by 2031.Key Takeaways:By grade, demand for industrial Magnesium Chloride is expected to surge at a 4.1 % CAGR over the forecast period.The food & pharmaceutical grade Magnesium Chloride segment is projected to hold approximately 27% of the total market share in
2021.Deicing segment of Magnesium Chloride market is anticipated to grow at 4.5 % CAGR through 2031.Magnesium Chloride Market in the U.S. is anticipated to reach US$ 105.8 Mn by year in 2031.China will emerge as an attractive Magnesium Chloride market, with sales growing at a 6.1 % CAGR in 2021.Liquid form of Magnesium Chloride is expected to account for over 26.9% of the East Asia Magnesium Chloride market share
in 2021.Japan and South Korea will collectively account for 7% of the total Magnesium Chloride market share through 2021.Ask An Analyst @
https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-3996Magnesium Chloride Market by Category
By Product Form:LiquidSolid
By Grade:IndustrialFood & Pharmaceuticals
By Application:Deicing AgentDust SuppressantsChemicals & DerivativesBuilding MaterialsPharmaceuticalsFood & FeedOthers
By Region:North AmericaLatin AmericaEuropeEast AsiaSouth Asia & PacificMiddle East & AfricaRequest for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-3996Competitive Landscape
Key participants in the global magnesium chloride market elaborated in the report includes Israel Chemicals Ltd., K+S
Aktiengesellschaft, Compass Minerals International, Inc., Shandong Haihua Group Co. Ltd., Huitai Investment Group Co.,
Ltd, Intrepid Potash, Inc., Tianjin Changlu Haijing Group Co., Ltd, DEUSA international GmbH, Nedmag B.V, Nikomag OJSC
and others.
Leading players are focusing on collaborations, mergers, and acquisitions to expand their production facilities and
distribution channels.For instance:K+S Aktiengesellschaft decided to provide heavy investment to a new salt brine field in the Netherlands. The new brine
field is expected to be developed for directional drilling by 2019 and operational by 2021 end. It will further improve
the company’s production capacity by 25% and bring the production level to 1.2 million tpa.
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during the forecast period 2022-2032.About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of
Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses
opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel
and End Use over the next 10-years.