Global Magnesium Chloride Market to Achieve USD 4.4 BN By 2025
Posted On October 21, 2019
Value Market Research has recently added new report on the Global Magnesium Chloride Market which valued the industry at USD 3.2 BN (by revenue) in 2018. It is anticipated to reach USD 4.4 BN by 2025 with a CAGR of 4.5% from 2019 to 2025. Growing production of magnesium derivatives and metals along with the rising application across pharmaceutical industry is predominantly fueling the market growth. Expanding chemical industry and rising usage of magnesium chloride for preventing wind erosion, gardening and horticulture for stabilizing soil are also expected to propel the market growth. Moreover, growing demand of magnesium chloride for catalytic reactions and increasing usage in clearing the heavy snowfalls on roads and highway through de-icing is further anticipated to augment the growth of this market.
Magnesium chloride is a biochemical compound which is widely used across chemistry and molecular biology as its ion are beneficial for a variety of biological reactions. Mg2+ plays a crucial role in enzymology and many physiological processes of cell membranes, nucleic acid structure, muscle and nerve physiology, and wall structural integrity. Moreover, it is considered as a very important co-factor in many enzymes such as deoxyribonuclease (DNAse), the restriction enzymes EcoR I and EcoR V, and Ribonuclease H and also stabilize polymeric nucleic acids such as transfer ribozymes and transfer RNA. Therefore, magnesium chloride plays a very important role in the proper functioning of cells, muscles, nerves, and the heart.
The report "Global Magnesium Chloride Market Report By Product (Anhydrous Magnesium Chloride And Hexahydrate Magnesium Chloride), By Application (Metallurgy, Chemical Industry, Building Material, Food, Road Stabilization & Ice Control And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025" includes market introduction with a detailed definition and overview, segmentation, dynamic, trends, emerging opportunities, and competitive dashboard.
Market segmentation includes product, application, and region. Product segment encompasses anhydrous magnesium chloride and hexahydrate magnesium chloride. Anhydrous magnesium chloride is gaining traction in the market owing to the rising usage across building materials, food industry, medicine, and industrial application. Application segment incorporates metallurgy, chemical industry, building material, food, road stabilization & ice control and others. Building materials held the leading position and this can be attributed to the growing demand for magnesium-based cement from construction industry owing to its excellent quick setting time, greater bonding, and high strength. Regional segmentation covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Current Asia-pacific is dominating the overall market owing to the growing construction industry coupled with the expanding production facility of MgCl2 in the region.
• Anhydrous Magnesium chloride
• Hexahydrate Magnesium chloride
• Chemical Industry
• Building Material
• Road Stabilization & Ice Control
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Players Profiled In The Report:
Alkim, Caustic JSC, Compass Minerals, Dead Sea Works, DEUSA International Gmbh, Huitai Group, K + S KALI Gmbh, Nedmag, Skyline Chemical Corporation, Songchuan, The pioneer Magnesia Works Pvt Ltd, Weifang Bell Chemical Co. ltd, Weifang Haibin Chemicals Co. Ltd and WeiFang Hongyuan Chemical Co. Ltd.
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