What is Global Magnesium Chloride Hexahydrate Flakes Market?
The Global Magnesium Chloride Hexahydrate Flakes Market is a comprehensive study of the global market trends and growth prospects in the field of magnesium chloride hexahydrate flakes. This market is an essential part of the chemical industry, with its products being used in a wide range of applications. The market is primarily driven by the increasing demand for magnesium chloride hexahydrate flakes in various industries such as metallurgy, chemical, building materials, antifreeze, food, and others. The market is also influenced by the technological advancements and the increasing research and development activities in the field. However, the market faces challenges such as the fluctuating prices of raw materials and the stringent environmental regulations. Despite these challenges, the market is expected to grow at a steady pace in the coming years, thanks to the increasing demand from emerging economies and the growing awareness about the benefits of magnesium chloride hexahydrate flakes.
Food Grade, Industry Grade in the Global Magnesium Chloride Hexahydrate Flakes Market:
The Global Magnesium Chloride Hexahydrate Flakes Market is segmented into two main types: Food Grade and Industry Grade. The Food Grade magnesium chloride hexahydrate flakes are used in the food industry as a food additive and a nutritional supplement. They are also used in the preparation of tofu, a popular food product in Asian countries. On the other hand, the Industry Grade magnesium chloride hexahydrate flakes are used in various industries such as metallurgy, chemical, building materials, antifreeze, and others. They are used as a raw material in the production of magnesium metal, as a coagulant in the production of tofu, as a de-icing agent in the antifreeze industry, and as a binding agent in the building materials industry. The demand for Industry Grade magnesium chloride hexahydrate flakes is significantly higher than that for Food Grade flakes, accounting for about 90% of the total market share.
Metallurgical Industry, Chemical Industry, Building Materials Industry, Antifreeze Industry, Food Industry, Others in the Global Magnesium Chloride Hexahydrate Flakes Market:
The Global Magnesium Chloride Hexahydrate Flakes Market finds its applications in various industries. In the Metallurgical Industry, it is used as a raw material in the production of magnesium metal. In the Chemical Industry, it is used in the production of various chemicals such as magnesium hydroxide, magnesium carbonate, and others. In the Building Materials Industry, it is used as a binding agent in the production of building materials such as cement, concrete, and others. In the Antifreeze Industry, it is used as a de-icing agent to prevent the formation of ice on roads and other surfaces. In the Food Industry, it is used as a food additive and a nutritional supplement. It is also used in other industries for various purposes. The demand for magnesium chloride hexahydrate flakes is expected to increase in the coming years, thanks to the growing demand from these industries.
Global Magnesium Chloride Hexahydrate Flakes Market Outlook:
The Global Magnesium Chloride Hexahydrate Flakes Market, which was valued at US$ 234 million in 2022, is expected to reach US$ 267.4 million by 2029, growing at a CAGR of 1.9% during the forecast period 2023-2029. The market is dominated by the top four manufacturers, who hold a combined market share of about 30%. The largest segment of the market is the Industry Grade magnesium chloride hexahydrate flakes, which accounts for about 90% of the total market share. The market is expected to grow at a steady pace in the coming years, thanks to the increasing demand for magnesium chloride hexahydrate flakes in various industries.
| Report Metric | Details |
| Report Name | Magnesium Chloride Hexahydrate Flakes Market |
| Accounted market size in 2023 | US$ 234 million |
| Forecasted market size in 2030 | US$ 267.4 million |
| CAGR | 1.9% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Compass Minerals, Dead Sea Works, Nedmag, Alkim, Tinco, Riddhi Siddhi Magnesia Works, Xiangjiang, Huitai Group, Changsheng, Dongyuan Lianhai, Hongyuan Chemical, Xinhai Decing Products, Chenlong, Songchuan, Ruentai Chemical, Qinghai Iron Source Magnesium |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
