According to a new report, published by KBV research, The Global Magnesium Chloride Market size is expected to reach $677 Million by 2030, rising at a market growth of 4.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,613.5 Kilo Tonnes, experiencing a growth of 4.2% (2019-2022).
The Anhydrous segment is leading the Global Magnesium Chloride Market, By Product in 2022, thereby, achieving a market value of $397.1 million by 2030. This is explained by using this compound in the construction, chemical manufacturing, and oil and gas industries. The market demand is influenced by the extensive use of brine in the oil and gas sector and its functions in various chemical processes. In well-stimulation procedures, it can be utilized as a completion fluid. During the completion procedure, it helps to preserve wellbore stability and prevents formation damage.
The Wastewater Treatment Chemicals segment would exhibit a CAGR of 5.4% during (2023 - 2030). The product is also used as a coagulant to remove suspended particles and impurities in effluent treatment processes. It aids in flocculation by binding to contaminants and forming larger particles that can be readily separated from the water. Injections of magnesium sulfate are among the medical therapies used for, including eclampsia and pre-eclampsia in pregnancy. It is a source of magnesium utilized in dietary supplements, sports drinks, and the manufacturing of some food products, such as tofu, as a coagulant.
The Asia Pacific region dominated the Global Magnesium Chloride Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $287.6 Million by 2030. The North America region is anticipated a CAGR of 4% during (2023 - 2030). Additionally, The Europe region paired to grow a CAGR of 4.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/magnesium-chloride-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Compass Minerals International, Inc, Shandong Baomo Biochemical Co., Ltd., ICL Group Ltd. (Israel Corp.), Intrepid Potash Inc., Merck KGaA, Cargill, Incorporated, Nedmag B.V., K+S Aktiengesellschaft, Celtic Chemicals Ltd. and Deusa International GmbH.
By Product (Volume, Kilo Tonnes, USD Million, 2019-30)
By End-user (Volume, Kilo Tonnes, USD Million, 2019-30)
By Geography (Volume, Kilo Tonnes, USD Million, 2019-30)
Companies Profiled
Unique Offerings 
