The Latin America, Middle East and Africa Magnesium Chloride Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 144.4 Kilo Tonnes, showcasing a growth of 5.9% (2023-2030).
Innovations in soil science are leading to the development of the compound-based soil conditioners with enhanced properties. These conditioners can improve nutrient absorption and soil structure, contributing to higher crop yields and sustainable agriculture. Smart city initiatives have given rise to intelligent de-icing systems that use real-time data to optimize the distribution of the compound and other de-icing agents. It is used as a de-icing agent to melt snow and ice on road surfaces during winter. It’s effectiveness in low temperatures and minimal environmental impact has led to its widespread adoption.
In the food and beverage industry, the compound is a coagulant in tofu production. It helps curd formation during soybean milk processing, producing the popular soy-based product. It is a vital component in pharmaceuticals. It is used in various medications and as a source of magnesium in dietary supplements due to its high bioavailability. As a soil conditioner, it can help improve soil quality and enhance crop growth. It is used to rectify soil magnesium deficiencies, which can negatively affect plant health and productivity. It plays a role in wastewater treatment by removing phosphates and heavy metals from industrial and municipal wastewater.
As per the International Trade Administration (ITA), the United Arab Emirates was among the world's top ten oil producers in 2022. Approximately 96% of the nation's estimated 100 billion barrels of known oil reserves are in Abu Dhabi, ranked sixth globally. On average, 3.2 million barrels of liquid and petroleum products are produced daily in the UAE. It is used in completion fluids to control wellbore stability and prevent formation damage in the UAE during the completion phase of oil and gas wells. The rising adoption of variable factors across the LAMEA region, the market is estimated to increase in upcoming years.
The Brazil region dominated the LAMEA Magnesium Chloride Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $15,950.4 Thousand by 2030. The Argentina region is showcasing a CAGR of 6.8% during (2023 - 2030). Additionally, The UAE region would register a CAGR of 6.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Magnesium Chloride Market is Projected to reach USD 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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