The Europe Magnesium Chloride Market would witness market growth of 4.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 211.5 Kilo Tonnes, showcasing a growth of 4.0% (2019-2022).
Magnesium Chloride is added to cement throughout manufacturing because it can enhance its functionality in several ways. It can improve the cement's workability, making it simpler to mix and apply. Faster construction processes can also be achieved by enhancing the cement's early strength development and setting time. The utilization of the product in cement production can have environmental benefits. Lowering the clinker content, a crucial cement component that generates a substantial quantity of carbon dioxide emissions during manufacture aids in reducing cement's carbon footprint.
Continuous innovations mark the pharmaceutical industry. As researchers discover new applications of it in drug formulations, its demand in this sector is expected to grow. Manufacturers are experimenting with blended de-icing products that combine it with other chemicals to enhance its effectiveness in extreme weather conditions. These formulations aim to provide a more versatile and efficient snow and ice removal solution. Researchers are exploring using nanotechnology to modify the compound’s properties, making it more efficient and environmentally friendly in various applications, including agriculture and wastewater treatment.
The construction and mining industries in Europe use this compound for dust control and soil stabilization at construction sites and mining operations. The demand of this can vary from one European country to another, depending on climate, industrial activity, and agricultural practices. Northern European countries, such as Germany and Scandinavia, often have higher demand for de-icing and anti-icing applications, while agricultural use is more prevalent in countries with significant farming sectors. Its essential maintenance will cost £13.4 million, and enhanced connectivity will result in roughly £340 million in direct economic benefits. Due to these aspects, the market will grow across the Europe region in upcoming years.
The Germany region dominated the Europe Magnesium Chloride Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $33,424.7 Thousand by 2030. The UK region is exhibiting a CAGR of 3.4% during (2023 - 2030). Additionally, The France region would experience a CAGR of 5.1% during (2023 - 2030).
Based on Product, the market is segmented into Anhydrous, and Hexahydrate. Based on End-use, the market is segmented into Construction, Textile, Wastewater Treatment Chemicals, Healthcare, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Magnesium Chloride Market will Hit $677 Million by 2030, at a CAGR of 4.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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 Country (Volume, Kilo Tonnes, USD Million, 2019-30)
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