openPR Logo
Press release

Magnesium Nitrate Hexahydrate Market to grow at a stellar pace reflecting by 2018 to 2028

07-26-2018 05:04 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Magnesium Nitrate Hexahydrate Market to grow at a stellar pace

Adoption of magnesium nitrate hexahydrate continues to gain ground as a catalyzing and reducing agent – a trend that is complementing steady demand of the chemical as an oxidizing agent. According to a recent Fact.MR study, over 1,212,000 tons of magnesium nitrate hexahydrate were sold in 2017, with its use as an oxidizing agent poised to account for nearly 40% of volume sales by 2028-end.

The petrochemical industry in the U.S. has witnessed a significant growth in recent years according to the International Energy Agency (IEA). The United States Energy Agency (USEA) foresees the production of petrochemicals in the U.S, to record 20% rise by 2020-end. North American stakeholders in the magnesium nitrate hexahydrate market can leverage the growth opportunities paved by rising production and export of petrochemicals from the U.S.

Increased government expenditure on the military & defense sector in North America will further underpin adoption of magnesium nitrate hexahydrate in the region, as the chemical witnessed extensive use as stabilizer and catalyst in explosives production. North America’s lead in the magnesium nitrate hexahydrate market in comparison to Europe will be challenged by higher growth rate and opportunity in the latter during the forecast period, according to Fact.MR study. The study has estimated nearly 244,820 tons of magnesium nitrate hexahydrate sales in 2017.

Growth of the magnesium nitrate hexahydrate market in Europe will continue to be sustained by proliferation in use of nitrogen fertilizers, with the FAO estimating 39,484,000 tons of nitrogen fertilizers sales in the region by 2018-end. The European Union has imposed regulations on use of explosives, while delegating norms to add magnesium nitrate hexahydrate to the Annex 2 of EU regulation 98/2013 on the Use and Marketing of Explosives Precursors. This, coupled with the FAO prediction on the agricultural sector’s significant rise in the near future, will continue to drive growth of the magnesium nitrate hexahydrate market in Europe.

Magnesium Nitrate Hexahydrate Market: Pre-eminence of Additives Application to Persist

Additives and explosives manufacturing have prevailed as the target application areas for magnesium nitrate hexahydrate. Demand for magnesium nitrate hexahydrate as additives has traditionally remained higher than in manufacturing explosives, and the status quo is likely to endure over the period of forecast.

Request Report Sample @ https://www.factmr.com/connectus/sample?flag=S&rep_id=913

The study slates synthetic process and nitromagnesite as prominent manufacturing processes used by stakeholders in the magnesium nitrate hexahydrate market. Albeit pervasiveness of synthetic process’s dominance is set to prevail, nitromagnesite will witness a notably greater demand by manufacturers in the upcoming years.

Various functionalities of the magnesium nitrate hexahydrate are being leveraged by end-use industries. Primary functions of magnesium nitrate hexahydrate as oxidizing agent and dehydrating agent will continue to lead the market, in terms of both value and volume. Catalyzing agent and reducing agent functions of magnesium nitrate hexahydrate are set to gain higher ground, with their sales rate forecast to remain greater than other functional uses of the chemical through 2028.

Magnesium Nitrate Hexahydrate Market: Opportunities Abound in Latin America

According to the study, magnesium nitrate hexahydrate sales in Latin America will record a relatively faster growth rate over the period of forecast. This growth will be primarily driven by use of this quality chemical as a concrete additive in the region’s rising construction industry. Governments of Latin American countries are implementing infrastructural development plans to promote construction of their commercial as well as residential structures.

Request Report Methodology @ https://www.factmr.com/connectus/sample?flag=RM&rep_id=913

Government of Mexico’s National Infrastructural Plan is a prime example of such development efforts. This, coupled with abundant availability of magnesite/magnesium carbonate in Brazil will continue to pave lucrative growth opportunities for growth of the magnesium nitrate hexahydrate market in Latin America, with magnesite being a key raw material for the chemical’s production.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Magnesium Nitrate Hexahydrate Market to grow at a stellar pace reflecting by 2018 to 2028 here

News-ID: 1148483 • Views:

More Releases from Fact.MR

Automatic Pet Feeder Market To Witness Exponential Growth, Expected to Hit US$ 1.36 Billion by 2032 at 9.6% CAGR
Automatic Pet Feeder Market To Witness Exponential Growth, Expected to Hit US$ 1 …
The market for automatic pet feeders is expected to grow at a strong rate of 9.6% CAGR to reach US$ 1.36 billion by the end of 2032, from its estimated value of US$ 540.8 million in 2022. By the end of 2021, sales of automatic pet feeders with capacities greater than five liters represented about 45% of the worldwide market for automatic pet feeders. Download a Sample Copy Of Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=5963 Pet owners
Tomato Powder Market Is Estimated To Reach US$ 2.3 Billion By The End Of 2033: Fact.MR Report
Tomato Powder Market Is Estimated To Reach US$ 2.3 Billion By The End Of 2033: F …
In 2023, the global market for tomato powder reached a valuation of US$ 1.6 billion. Projections indicate that by the close of 2033, sales of tomato powder on a global scale are expected to climb to US$ 2.3 billion, marking a compound annual growth rate (CAGR) of 3.7% from 2023 to 2033. The Tomato Powder Industry sales study offers a comprehensive analysis on diverse features including production capacities, Tomato Powder demand,
Portable Video Game Consoles Market Is Projected To Reach US$ 27 Billion By 2033: Fact.MR Report
Portable Video Game Consoles Market Is Projected To Reach US$ 27 Billion By 2033 …
The forecast indicates a steady rise in global demand for portable video game consoles, projecting a Compound Annual Growth Rate (CAGR) of 6% from 2023 to 2033. Presently, the market for portable video game consoles stands at a valuation of US$ 15 billion globally. This figure is poised to ascend to US$ 27 billion by the conclusion of 2033. The Portable Video Game Consoles Industry sales study offers a comprehensive analysis
Smart Parking Solutions Market Is Forecasted To Reach US$ 39.2 Billion By 2034: …
Expanding at a CAGR of 20%, the global smart parking solution market size is set to jump from US$ 6.3 billion in 2024 to US$ 39.2 billion by 2034-end, as assessed by Fact.MR and revealed in its updated market report. The Smart Parking Solution Industry sales study offers a comprehensive analysis on diverse features including production capacities, Smart Parking Solution demand, product developments, sales revenue generation and Smart Parking Solution

All 5 Releases


More Releases for America

Waterproof Labels Market Outlook, Supportive Judgments | SATO America, LANGGUTH …
Report Ocean recently published a new report on the Global Waterproof Labels Market. The study has an in-depth analysis of the forecast period from 2021-2025. The report reveals a comprehensive picture of the Waterproof Labels Market situation, taking into consideration all major trends, market dynamics, and competitive factors. Additionally, the report contains key statistics concerning the Waterproof Labels Market situation of the leading key players, key market trends, and potential
Textiles Market Analysis Report, Regional Outlook - Europe, North America, South …
Adroit Market Research has announced the addition of the “Global Textiles Market Size Status and Forecast 2025”, The report classifies the global Textiles in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth. This report studies the global Textiles Speaker market, analyzes and researches the Textiles Speaker development status and forecast in Europe, North America, Central America, South America, Asia Pacific
Blow Molding Machinery Market Analysis Report, Regional Outlook - Europe, North …
Adroit Market Research has announced the addition of the “Global Blow Molding Machinery Market Size Status and Forecast 2025”, The report classifies the global Blow Molding Machinery in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth. This report studies the global Blow Molding Machinery Speaker market, analyzes and researches the Blow Molding Machinery Speaker development status and forecast in Europe,
Global Gaucher Disease Market 2018 Covering North America, South America, Europe
Gaucher Disease Market Summary The Global Gaucher Disease Market is defined by the presence of some of the leading competitors operating in the market, including the well-established players and new entrants, and the suppliers, vendors, and distributors. The key players are continuously focusing on expanding their geographic reach and broadening their customer base, in order to expand their product portfolio and come up with new advancements. Gaucher Disease market size to maintain the average annual growth
Epigenetics Market by End Users, and by Geography North America, Latin America, …
Increasing research to study the epigenetics of the genome (study called epigenomics) is expected to boost growth of the epigenetics market over the forecast period. Genome-wide epigenetic studies play an important role in the diagnostics of human diseases. Moreover, implementation of epigenetics for oncology research is estimated to propel the growth of epigenetics market. For instance, Constellation Pharmaceuticals, in April 2018, invested US$ 100 million for development of cancer epigenetics
Spas and Beauty Salons Market - South America, Central America and North America …
Consumers’ changing perception towards personal care coupled with continuous strive to improve general well-being are generating a positive impact on the spas and beauty salons industry. Growing consumer need to improve personal appearance and well-being has increased the demand for wellness solutions. Spa centers and beauty salons, in order to meet the increasing demand for unique spa and beauty services, are constantly striving to improve their services by focusing on