Magnesium Chloride Market Size To Reach $680 Million By 2030

Magnesium Chloride Market Growth & Trends

The global magnesium chloride market size is expected to reach USD 680 million by 2030, registering a CAGR of 4.3% from 2023 to 2030, according to a new study by Grand View Research, Inc. Magnesium chloride is widely accepted as a de-icing agent due to its effectiveness in melting ice and snow. The product demand from geographies with cold climates for de-icing applications is a significant driver of the market growth. Magnesium chloride is highly effective in melting ice and snow. When applied to icy surfaces, it lowers the freezing point of water, causing the ice to melt and preventing further ice formation. This property makes it a preferred choice for de-icing applications in cold climates. It has a lower freezing point compared to other deicing agents like rock salt (sodium chloride) and remains effective at lower temperatures, making it suitable for use in extremely cold regions.

Geographies with cold climates, such as regions in North America, Europe, and parts of Asia Pacific, have a higher demand for de-icing agents. The need to maintain safe transportation routes, prevent accidents, and ensure smooth operations during winter drives the product demand in these regions. However, stringent environmental regulations can pose challenges for the product market as these regulations may require the development and use of alternative de-icing agents that have a lower environmental impact. As a result of these regulations, there is a growing demand for alternative products, such as calcium magnesium acetate (CMA), potassium acetate, and beet juice-based de-icers. These alternatives are often biodegradable and less harmful to the environment.

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Magnesium Chloride Market Report Highlights

• Asia Pacific will witness the fastest growth rate of 5.6% from 2023 to 2030 due to the high product demand as a de-icing agent in the region as some parts, such as northern China, Japan, and South Korea, experience cold and snowy winters. The product demand increases during the winter season, contributing to the regional market growth

• Europe also holds a considerable share in the industry, which is driven by product demand from industries, such as chemicals, pharmaceuticals, and construction. In addition, the market in Europe is influenced by regulations promoting sustainable and environmentally friendly practices

• The hexahydrate product segment will register the fastest CAGR of 4.6% from 2023 to 2030. It is used as a de-icing agent on roads and highways to prevent ice and snow formation. It can be applied in liquid or solid form to enhance traction and improve road safety

• Magnesium chloride has applications in various industries, including pharmaceuticals, chemicals, cement, and construction. This indicates that the industry is driven by the demand from these sectors

• The product price can fluctuate based on factors, such as supply & demand dynamics, production costs, and competition. The market value reflects the overall industry worth

Magnesium Chloride Market Segmentation

Grand View Research has segmented the global magnesium chloride market on the basis of product, end-use, and region:

Magnesium Chloride Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Anhydrous Magnesium Chloride

• Hexahydrate Magnesium Chloride

Magnesium Chloride End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Textile

• Wastewater Treatment Chemicals

• Healthcare

• Construction

• Others

Magnesium Chloride Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players of Magnesium Chloride Market

• Compass Minerals International, Inc. E.

• K+S Aktiengesellschaft

• Israel Chemicals Ltd.

• Shandong Haihua Group Co, Ltd.

• Huitai Investment Group Co, Ltd

• Interpid Postah, Inc

• Tianjin Changlu Haiging Group Co, Ltd

• DEUSA International GmbH

• Nedmag B.V

• Nikomag OJSC