Global Magnesium Nitrate Hexahydrate Market 2019-2023

The global magnesium nitrate hexahydrate market size will grow by over USD 133 million during 2019-2023. This report provides a detailed analysis of the market based on application (additives, process chemicals, explosives, and others), and geography (the Americas, APAC, and EMEA). The report also provides an analysis of the market’s competitive landscape and offers information on several magnesium nitrate hexahydrate manufacturers including Avantor, BEANTOWN CHEMICAL, GFS Chemicals, Merck, and William Blythe.

Some of the key findings from our magnesium nitrate hexahydrate market forecast report are summarized below:

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Global magnesium nitrate hexahydrate industry overview

Magnesium nitrate hexahydrate is a good source of magnesium and nitrogen and therefore used as fertilizer additives. Nitrogen fertilizers are mainly used to improve pasture quality, increase crop yield, and improve stress and high-temperature tolerance of plants. It also accelerates the growth of plants and promotes the uptake of cations such as magnesium, calcium, and potassium. Magnesium fertilizers enhance the photosynthesis process of plants, activate cell enzymes, and prevent the absorption of N-NH4 in the ammonium form. The growing demand for magnesium and nitrogen fertilizers will boost the demand for fertilizer additives, especially magnesium nitrate hexahydrate fertilizers.

Industrial blasting chemicals are used in mining to explode rocks and break them down to smaller pieces. The growing demand for coal for electricity generation and from several end-user industries such as steel, energy and cement industries will increase the number of mining activities. This will increase demand for blasting and drilling chemicals such as magnesium nitrate hexahydrate. Thus, the rise in blasting and drilling application in mining is identified as a critical trend which will drive the magnesium nitrate hexahydrate market growth at a CAGR of almost 5% during the forecast period.

Top magnesium nitrate hexahydrate companies covered in this market research report

The global magnesium nitrate hexahydrate market is moderately fragmented, and the market is in a growth phase, the competition among companies is intense. To help clients improve their revenue shares in this market, this research report provides an analysis of the market’s competitive landscape and offers information on the products offered by various leading companies. Additionally, this magnesium nitrate hexahydrate market analysis report suggests strategies companies can follow and recommends key areas they should focus on, to make the most of upcoming growth opportunities.

The report offers a detailed analysis of several leading companies, including:

• Avantor
• BEANTOWN CHEMICAL
• GFS Chemicals
• Merck
• William Blythe

Magnesium nitrate hexahydrate market segmentation based on application

• Additives
• Process chemicals
• Explosives

The additives segment will account for the highest share in the magnesium nitrate hexahydrate market. Additionally, the report also provides an accurate prediction of the contribution of all the application segments to the growth of the magnesium nitrate hexahydrate market size.

Magnesium nitrate hexahydrate market segmentation based on geographic region

• Americas
• APAC
• EMEA

With a complete study of the growth opportunities for the companies across regions such as the Americas, APAC, and EMEA, the APAC region will contribute to the highest growth of this market throughout the forecast period.

Key highlights of the global magnesium nitrate hexahydrate market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the magnesium nitrate hexahydrate market during the next five years
• Precise estimation of the global magnesium nitrate hexahydrate market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the magnesium nitrate hexahydrate industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on factors that will challenge the growth of magnesium nitrate hexahydrate companies

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