Magnesium Chloride Market to Grow at a CAGR of 4.36% during the forecast period to 2035

NEW YORK - Nov. 9, 2022 - PRLog -- According to ChemAnalyst report, "Magnesium Chloride Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Company Share, Foreign Trade, 2015-2035", The Magnesium Chloride market is likely to experience a significant growth and expected to reach 2900 thousand tonnes in 2035, at a CAGR of 4.36%. The increasing demand by Sorel Cement, Dust Suppressant, De-icing Agent and others end-use industries, is expected to boost the growth of the Magnesium Chloride market in the forecast period.

Magnesium chloride is a white, odourless powder with a moisture absorbing nature. Seawater or brine can be used to produce magnesium chloride. Its water-absorbing nature contributes to its application in the cement industry, de-icing of roads, and dust suppressant. Furthermore, magnesium chloride is employed as a precursor for the manufacturing of Magnesium. Its application for Ziegler-Natta Catalyst holds industrial significance as this catalyst is used for synthesis of alpha-olefins.

Employment of magnesium chloride in the cement industry is the primary market factor boosting market growth. The Sorel Cement industry consumed about 39% of the global Magnesium Chloride in 2021, and it is projected that this industry will continue to dominate the market during the forecast period. It is due to growing demand of cement for construction purpose across the globe. Additionally, the demand of magnesium chloride will expand because of its de-icing uses to de-ice roads and highways in cold countries.

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The Magnesium Chloride market is segmented based on end-use, sales channel, and region. Based on end-use, the Magnesium Chloride market is segregated into Sorel Cement, Dust Suppressant, De-icing Agent and others. The Sorel Cement industry dominates the Magnesium Chloride market around the globe and is most likely to retain its position during the forecast period and grow at a CAGR of 4.48% by 2035. Furthermore, it is expected that the De-icing  industry will experience a hike in demand and grow with an impressive CAGR of 4.57% in the forecast period.

Major players in the Magnesium Chloride market include 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.