H1 2023: The major players in the global Magnesium Chloride market were Compass Minerals International, Inc., Uralkali JSC, and Intrepid Potash, Inc. The Asia Pacific market for Magnesium Chloride experienced varied market dynamics in H1 2023, owing to fluctuating demand from the cement sector. Magnesium chloride prices in China exhibited a mixed pattern during H1 2023. The Magnesium chloride price had an abrupt increase in April 2023. It was backed by the factors like increase in demand from its downstream sectors, such as cement sector, which had put significant pressure on the Chinese market's supply of materials. Due to low stock of magnesium chloride in the Chinese market, suppliers struggled to meet the increased demand. As a result, to fulfil rising demand, there has been a large increase in commodities trade activity in both April and May 2023. In June 2023, the price of Magnesium Chloride in the Chinese market observed a downward price trajectory. The downstream industries' demand remained at the low end due to a high base resulting in market saturation. However, in the US, magnesium chloride prices spiked in February 2023 and then remained bearish for the remaining of the months of H1 2023. Magnesium chloride's price continued to decline due to sluggish inquiries from related industries like the cement sector. Additionally, magnesium chloride prices declined in May 2023 as a result of the sufficient product supplies in US’ ports that kept the market oversupplied.
The global Magnesium Chloride market stood nearby 1700 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.39% during the forecast period until 2035.
Magnesium Chloride is an inorganic salt with the chemical formula of MgCl2. It is usually obtained from seawater or brine. It is an odorless white powder and has water-absorbing nature that contributes to its applications like de-icing in cold countries. Magnesium Chloride has numerous industrial applications like cement, de-icing application, cement, magnesium production, synthesis of Ziegler-Natta Catalyst, soil stabilization, dust control, etc.
The primary market driving factor for the growth of Magnesium Chloride market is its application in Cement Industry. In 2022, the Sorel Cement industry consumed about 40% of the Magnesium Chloride market and is anticipated to dominate the Magnesium Chloride market in the forecast period. This chemical quickly absorbs moisture from the environment due to its hygroscopic nature, results in melting the ice. Therefore, its de-icing applications to clear ice from highways in colder areas is anticipated to further fuel the Magnesium Chloride market in the forecast period. The Magnesium Chloride market demand is expected to reach approximately 2900 thousand tonnes by 2035.
Based on region, Asia Pacific is dominating across all the areas around the globe, with a consumption of about 50% of the global Magnesium Chloride in 2022. With various developing countries situated in Asia, there is a huge demand for cement on account of rapid industrialization. Increased government spendings on road construction, bridges, and other public service infrastructure, as well as increased renovation and repair activities will further propel the cement demand in this region. Magnesium Chloride is utilized in manufacturing cement which leads to its growing demand in the forecast period. North America and Europe are also prominent consumers of Magnesium Chloride. Magnesium chloride is becoming more popular as a deicing agent, particularly in North American and European nations with colder climates.
China has the highest capacity of producing Magnesium Chloride, with most of the global Magnesium Chloride demand being fulfilled by companies located in China. In 2022, China produced approximately 30% of the globally produced Magnesium Chloride.
Based on the end-user industry, the global Magnesium Chloride market is segmented into Sorel Cement, Dust Suppressant, Deicing Agent, and others. The Sorel Cement industry is dominating the Magnesium Chloride market. It is anticipated that this sector will grow the forecast period. The applications of Magnesium Chloride as a Dust Suppressant and De-icing agent will further fuel the Magnesium Chloride demand in the forecast period.
Major producers in the production of Global Magnesium Chloride market are Compass Minerals International, Inc., Uralkali JSC, Intrepid Potash, Inc, HuiTai Investment Co., Weifang Yuze Chemical Co.,Ltd., Qinghai Salt Lake Potash Co.,Ltd., Israel Chemical Limited, and NikoMag.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
•To assess the demand-supply scenario of Magnesium Chloride which covers production, demand and supply of Magnesium Chloride market in the globe.
•To analyze and forecast the market size of Magnesium Chloride
•To classify and forecast Global Magnesium Chloride market based on end-use and regional distribution.
•To examine competitive developments such as expansions, mergers & acquisitions, etc., of Magnesium Chloride market in the globe.
To extract data for Global Magnesium Chloride market, primary research surveys were conducted with Magnesium Chloride manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Magnesium Chloride market over the coming years.
ChemAnalyst calculated Magnesium Chloride demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw material to produce Magnesium Chloride. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
•Magnesium Chloride manufacturers and other stakeholders
•Organizations, forums and alliances related to Magnesium Chloride distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Magnesium Chloride manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Magnesium Chloride market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1700 thousand tonnes
Market size Volume by 2035
2900 thousand tonnes
Growth Rate
CAGR of 4.39% from 2023 to 2035
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2035
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Sorel Cement, Dust Suppressant, Deicing Agent and others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com
Market Data & Insights
Table of Content
1.Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Magnesium Chloride market in terms of value and volume.
2.Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Magnesium Chloride.
3.Capacity By Location
To better understand the regional supply of Magnesium Chloride by analyzing its manufacturers' location-based capacity.
4.Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5.Production By Company [Quarterly Update]
Study the historical annual production of Magnesium Chloride by the leading players and forecast how it will grow in the coming years.
6.Demand by End- Use [Quarterly Update]
Discover which end-user industry (Sorel Cement, Dust Suppressant, Deicing Agent and others) are creating a market and the forecast for the growth of the Magnesium Chloride market.
7.Demand by Region
Analyzing the change in demand of Magnesium Chloride in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8.Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Magnesium Chloride . Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9.Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Magnesium Chloride.
10.Company Share
Figure out what proportion of the market share of Magnesium Chloride is currently held by leading players across the globe.
11.Country-wise Export
Get details about quantity of Magnesium Chloride exported by major countries.
12.Country-wise Import
Get details about quantity of Magnesium Chloride imported by major countries.
13.Manufacturing Process
Discover insights into the intricate manufacturing process of Magnesium Chloride.
14.Policy and Regulatory Landscape
Gain a comprehensive understanding of the policy and regulatory landscape within the Magnesium Chloride market.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What are the major end-use industries utilizing Magnesium Chloride?
Ans:
Magnesium Chloride demand is majorly driven by the Sorel Cement, Dust Suppressant, and Deicing Agent, as the leading end-use industries.
Q2.
What is the expected market volume of the global Magnesium Chloride by 2035?
Ans:
It is expected that the market volume of the global Magnesium Chloride will expand to reach approximately 2900 thousand tonnes by 2035.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.