The North America Magnesium Chloride Market would witness market growth of 4.0% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 403.6 Kilo Tonnes, showcasing a growth of 3.8% (2019-2022).
Magnesium is important for muscle function and recovery. Athletes and fitness enthusiasts use its supplements to support muscle health, reduce muscle cramps, and enhance performance. It is crucial for bone health and is often included in supplements for osteoporosis prevention. As the aging population grows and bone health awareness increases, the demand for its supplements has risen. It is used in skincare products for its potential benefits in skin health. It is believed to help with skin conditions, such as acne and eczema, contributing to the growing market of this in skincare.
The growing emphasis on environmental sustainability and reducing chemical pollution has prompted industries to seek eco-friendly alternatives. The compound’s lower environmental impact, particularly in de-icing applications, aligns with these concerns and has driven its adoption. As urban populations expand, so does the demand for infrastructure development. This, in turn, fuels the need for fire-resistant building materials, boosting the demand of it in construction. The agricultural sector's ongoing pursuit of improved crop yields and soil health bodes well for the compound. As precision agriculture and sustainable farming practices become more prevalent, the use of the compound as a soil conditioner will likely increase.
According to U.S. Census Bureau estimates, spending on construction was $1,972.6 billion (seasonally adjusted annual rate) in July 2023, which is 0.7 percent (0.5 percent) more than the previously anticipated $1,958.9 billion in June. Construction spending reached $1,101.5 billion in the first seven months of 2023, a 3.7 percent (1.0 percent) increase over the $1,062.1 billion spent during the same period in 2022. Industrial facilities in Canada use this for dust suppression to maintain a clean and safe work environment, reduce particulate emissions, and protect workers' health. All these factors will uplift the regional market expansion in coming years.
The US region dominated the North America Magnesium Chloride Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $132,839.8 Thousand by 2030. The Canada region is experiencing a CAGR of 6.3% during (2023 - 2030). Additionally, The Mexico region would exhibit a CAGR of 5.4% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Magnesium Chloride Market is Predict to reach $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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