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Magnesium Chloride Market Size, Share & Industry Analysis, By Type (Anhydrous Magnesium Chloride, Hexahydrate Magnesium Chloride), By Application (Metallurgy, Chemical, Building Materials, Road Stabilization & De-Icing Applications, Other) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI104893 | Status : Ongoing

 

KEY INDUSTRY INSIGHTS

Magnesium chloride, chemically written as MgCl2 is an inorganic mineral salt obtained from seawater and brine. It generally occurs as an odorless, colorless, bitter powdered substance. It is highly soluble in water and has tendency to absorb moisture from environment. It is commercially it is obtained by reacting magnesium hydroxide with hydrochloric acid. It is also employed in de-icing application and cement production.


Increasing demand for magnesium chloride from geographies with  cold climate for de-icing applications driving the market growth. Magnesium chloride acts faster than rock salts which shall positively impact the market. Additionally, increasing demand of magnesium chloride for cement production due to its moisture absorbing nature shall foster the market growth.

However, there are various substitutes available in market for magnesium chloride like Earthbind, which efficiently is replacing magnesium chloride. This shall limit the market growth.

Key Market Driver -

Increasing demand for de-icing application.

Key Market Restraint -

Availability of substitutes in market.


Market Segmentation:


Based on type, the global magnesium chloride market is segmented into anhydrous and hexahydrate . Based on application, market is segmented into metallurgy, chemical, building materials, road stabilization & de-icing applications, and other applications.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:


The global Magnesium Chloride market consists of global & regional players operating. Some of the key players in the market include Shouguang Dingsheng Chemical Co., Ltd, Intrepid Potash, Inc., Compass Minerals International, Weifang Yuze Chemical Co., Ltd, and others.

Key Insights



  • New Advancements in Production Technologies

  • Key Trends in the Magnesium Chloride Market

  • New Product Launches, Expansions, Key Players

  • Ranking of Key Players in the Market


Regional Analysis:


The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share in market in terms of consumption attributed to the extreme snowfall and cold winters every year. Asia Pacific is one of the key market for magnesium chloride attributed to the large manufacturing base. Europe is expected to hold significant share in market due to the high demand for de-icing applications. Latin America and Middle East & Africa is expected to show sluggish growth.

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Segmentation






















 ATTRIBUTE

  DETAILS

By Type



  • Anhydrous Magnesium Chloride

  • Hexahydrate Magnesium Chloride



By Application



  • Metallurgy

  • Chemical

  • Building Materials

  • Road Stabilization & De-Icing Applications

  • Other



By Geography



  • North America (U.S., and Canada)

  • Europe (Germany, UK, France, Italy, and Rest of Europe)

  • Asia Pacific (China, India, Japan, and Rest of Asia Pacific)

  • Latin America (Mexico, Brazil, and Rest of Latin America)

  • Middle East & Africa (UAE, South Africa, and Rest of Middle East & Africa)






  • Ongoing
  • 2023
  • 2019-2022

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