Magnesium Chloride Market

Magnesium Chloride Market Outlook (2024 to 2034)

The global magnesium chloride market is set to reach a valuation of US$ 1.65 billion in 2024, as revealed in a recently updated Fact.MR industry report. Worldwide sales of magnesium chloride are analyzed to rise at 6.3% CAGR and reach US$ 3.05 billion by the end of 2034. Increasing use of magnesium chloride in construction materials, especially in the manufacturing of building materials and fire-resistant materials is contributing to its rising demand.

More companies around the world have become aware of the benefits of magnesium chloride, including comparatively low environmental impacts, effectiveness, cost-efficiency, etc. This component possesses the quality of deicing ice at a faster pace than rock salt because of its advanced chemical properties. This is anticipated to lead to the growing use of magnesium chloride in countries with lower temperatures where ice formation occurs generally on the surface of roads and vehicles. It is utilized to defrost and remove this ice to avoid accidents.

Several forms of magnesium chloride are present globally paving the way for use in residential and commercial sectors. Further, the increasing use of this component in the pharmaceutical sector as a supplement among patients with various heart issues, including heart arrhythmias, heart attacks, etc., is contributing to the magnesium chloride market growth. Moreover, magnesium chloride is also utilized due to its low stability as it further helps in maintaining the pH level of the human body.

Increasing use of magnesium chloride as one of the prominent ingredients in the food processing industry is attributed to its coagulant properties. Furthermore, it also finds applications in the preparation of conventional food, including, soy, tofu, etc., and baby formula milk. Therefore, its rising use in the food processing industry is estimated to contribute to the expanding magnesium chloride market size going forward.

• Global sales of anhydrous magnesium chloride are projected to climb at a CAGR of 6.4% and reach US$ 1.68 billion by 2034.
• North America is evaluated to account for 26.1% of the global magnesium chloride market share by the end of 2034.
• Demand for magnesium chloride in Japan is forecasted to increase at a CAGR of 5.4% from 2024 to 2034.

Report Attribute	Detail
Magnesium Chloride Market Size (2024E)	US$ 1.65 Billion
Forecasted Market Value (2034F)	US$ 3.05 Billion
Global Market Growth Rate (2024 to 2034)	6.3% CAGR
Market Share of Pharmaceutical Grade Magnesium Chloride (2034F)	59%
East Asia Market Share (2034F)	27.4%
South Korea Market Growth Rate (2024 to 2034)	8% CAGR
Key Companies Profiled	Compass Minerals International, Inc.; Celtic Chemicals Ltd.; K+S Aktiengesellschaft; Antera Agro Chem; Alkim; Skyline Chemical Corporation; Israel Chemical Ltd.; Cargill; Intrepid Potash, Inc.; Nedmag B.V.

Which Magnesium Chloride Market Trends are Positively Influencing its Sales?

“Rising Popularity of Magnesium Chloride Brine in Oil & Gas Industry”

In recent years, the oil & gas industry has been experiencing significant growth. The development of various abundant modern resources of natural gas & oil is estimated to create opportunities for respective manufacturers, therefore leading to increased consumption of magnesium chloride. It is utilized in rinsing and drilling oil wells for the removal of debris and dust during the mining procedure. Magnesium chloride brine facilitates the recovery of oil from workover, generally addressed as oil-based mud. Growing oil & gas extraction is stimulating demand for magnesium chloride, which is working as a significant catalyst.

“Increasing Magnesium Chloride Requirement for Use in Clinical Reagents & Topical Drugs”

Expansion of the pharmaceutical industry is estimated to lead to the rising development of magnesium chloride used in the formation of clinical reagents and topical drugs. Anhydrous magnesium chloride is utilized as a pharmaceutic necessity and electrolyte replenisher for peritoneal dialysis and hemodialysis fluids. In addition, this chemical possesses more antimicrobial properties compared to potassium chloride and sodium chloride. This is estimated to result in the rising use of magnesium chloride in the manufacturing of cleansers and antimicrobial gels.

What are the Hindrances to Growing Consumption of Magnesium Chloride?

“Adverse Impacts of Magnesium Chloride on Ecosystem”

Magnesium chloride is comparatively more environment friendly than some alternative agents used in de-icing. However, there are certain adverse impacts of magnesium chloride on ecosystems, especially vegetation and water bodies. The implementation of stringent environmental regulations along with the scrutiny of the consumption of chemical compounds in multiple applications is expected to limit magnesium chloride demand.

What are the Opportunities Available for Startups in This Business Space?

“Sustainable Environmental Practices the Way Ahead”

Startups are expected to emphasize eco-friendly production methods and sustainable sourcing practices to minimize adverse environmental impacts. Constant technological advancements lead to innovations in product formulations, which are contributing to the development of specialized magnesium chloride for multiple applications.

Country-wise Insights

East Asia is approximated to possess 27.4% of the global market share by the end of 2034, as revealed in the recently updated report by Fact.MR, a market research and competitive intelligence provider. Infrastructure development in some regional countries, including China, etc., is contributing to the growing demand for magnesium chloride as one of the prominent construction materials, especially for manufacturing cement additives and fire-resistant materials. Moreover, the rising demand for automobiles is leading to automotive sector growth, which generates magnesium chloride demand as a deicing agent for highways and roads.

How is the Market for Magnesium Chloride Shaping Up in the United States?

“Increasing Use of Magnesium Chloride in Pharmaceuticals and Deicing”

Attribute	United States
Market Value (2024E)	US$ 242.4 Million
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 442.5 Million

The United States is forecasted to account for a share of 55.6% of North American market revenue by 2034. Growing demand for magnesium chloride from the pharmaceutical and de-icing sectors is generating remunerative opportunities for market players. High road congestion because of ice on the rails and roads is stimulating demand for magnesium chloride as one of the prominent de-icing agents leaving no residue. In the pharmaceutical industry, magnesium chloride is used in medical drug production. Some doctors prescribe it in the form of tablets for curing magnesium deficiency.

Why is China a Focal Point for Manufacturers of Magnesium Chloride?

“Easy Availability of Production Facilities and Raw Materials Required for Magnesium Chloride Manufacturing”

Attribute	China
Market Value (2024E)	US$ 259 Million
Growth Rate (2024 to 2034)	6.3% CAGR
Projected Value (2034F)	US$ 478.8 Million

China is calculated to occupy 57.3% share of the East Asian market by 2034-end. Development in the pharmaceutical and industrial sectors in the country is driving sales of magnesium chloride for its chemical properties. Easy availability of required raw materials along with production facilities, an increase in the production of magnesium chloride is experienced in China.

Category-wise Insights

Recently updated study by Fact.MR asserts that there are growing requirements for anhydrous magnesium chloride in multiple industries. Chemical manufacturing, construction, oil & gas, etc., are some prominent industries driving demand for magnesium chloride for its ability to prevent any sort of formation damage.

Why is Anhydrous Magnesium Chloride Grabbing the Attention of End Users?

“Growing Consumption of Anhydrous Magnesium Chloride for Preventing Formation Damage”

Attribute	Anhydrous Magnesium Chloride
Segment Value (2024E)	US$ 907.1 Million
Growth Rate (2024 to 2034)	6.4% CAGR
Projected Value (2034F)	US$ 1.68 Billion

Anhydrous magnesium chloride is approximated to capture 55.1% share of the global market by the end of 2034. The prominence of this magnesium chloride type is attributed to its increased use in various industries, including construction, oil & gas, chemical manufacturing, etc. Magnesium chloride brine is utilized as a component in drilling mud or fluids. It assists in controlling the density and viscosity of the mud, thus preventing blowouts and facilitating the process of drilling.

Why is Pharmaceutical Grade Magnesium Chloride Extensively Used?

“Growing Consumption of Magnesium Chloride Supplements Matching Requirements of Human Body”

Attribute	Pharmaceutical Grade
Segment Value (2024E)	US$ 1.01 Billion
Growth Rate (2024 to 2034)	5.9% CAGR
Projected Value (2034F)	US$ 1.8 Billion

Pharmaceutical grade magnesium chloride is evaluated to hold a share of 59% of global market revenue by 2034-end. It is consumed as a supplement to meet the magnesium requirement of the human body, as it plays a significant role in various physiological procedures. Furthermore, magnesium chloride also finds application in medical treatments, including injections for certain conditions, such as pre-eclampsia and eclampsia during pregnancy.

Competitive Landscape

Key players in the magnesium chloride market are investing in R&D activities to increase the manufacturing and purification procedure, and thus increase profit share. They are constantly putting efforts into new product development, offering quality products, and management of supply chains.

• Compass Minerals, in February 2022, announced the expansion of its production of magnesium chloride at its facility at Salt Lake, Utah. The company is one of the leading manufacturers of salt and specialty mineral products.

Fact.MR provides detailed information about the price points of key manufacturers of magnesium chloride positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Segmentation of Magnesium Chloride Market Research

• By Type :

  • Anhydrous Magnesium Chloride
  • Hexahydrate Magnesium Chloride

• By Form :

  • Liquid
  • Solid

• By Grade :

  • Industrial Grade
  • Food Grade
  • Pharmaceutical Grade

• By Application :

  • Metallurgy
  • Building Material
  • Food & Feed
  • Chemicals & Derivatives
  • Pharmaceuticals
  • Water Treatment
  • Oil & Gas
  • De-icing Applications
  • Fire Retarding Agents

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA