PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1516054
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1516054
Magnesium Chloride Market size is expected to witness over 4.2% CAGR between 2024 and 2032, due to rising need across industries like manufacturing, agriculture, and pharmaceuticals. For instance, in June 2023, Sebela Pharmaceuticals revealed that the U.S. FDA approved SUFLAVE(TM) for colonoscopy preparation in adults. Widely utilized in construction for soil stabilization and as a dust suppressant, magnesium chloride boasts of agricultural applications as fertilizers and soil conditioners, particularly in regions with deficient calcium soil. The pharmaceutical industry also uses calcium carbonate to manufacture medicines, and nutritional supplements.
Magnesium chloride is recognized for its support of muscle function, nerve transmission, and bone health, leading to its strong use in nutritional supplements and personal care products. With its versatility, it has grown valuable in industrial applications like wastewater treatment and metallurgy, driving market growth in both industrial and consumer sectors.
The magnesium chloride market is divided into product form, grade, application and region.
Based on product form, the market size from the solid segment will record significant growth rate through 2032. Solid magnesium chloride in forms like flakes, pellets, and granules is preferred for its ease of use and storage over water. It is utilized in various industries, such as construction, transportation, water treatment, agriculture, and pharmaceuticals for deicing, dust control, and other applications. Solid magnesium chlorides are also popular for their durability and stability, making them ideal for cost-effective and reliable solutions.
Magnesium chloride industry from the pharmaceutical segment is slated to generate notable gains from 2024 to 2032. Magnesium chloride is utilized in medicines and supplements for its medicinal benefits. It acts as a source of magnesium to correct deficiencies and support health, while being used as a pharmaceutical aid in stabilizing formulations. With increasing awareness of the importance of magnesium in maintaining health and well-being, the segment will record robust growth.
North America magnesium chloride industry size will witness significant CAGR through 2032, led by rising usage in snow and ice control on roads and highways during winter. Magnesium chloride is also recording demand for soil stabilization, dust control, and concrete admixtures, especially in infrastructure projects. Increasing need for eco-friendly solutions due to focus on health and environment protection will further drive the regional market expansion.