Forecast Research Report on Magnesium Nitrate Hexahydrate Market 2018 with Key Trends, Size, Share and Growth till 2026 | Global Study on Magnesium Nitrate Hexahydrate Market Industry

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.

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Magnesium nitrate hexahydrate continues to witness a significant surge in demand in light of its robust adoption as an efficacious dehydrating, oxidizing, and stabilizing agent across various industrial sectors. Its effectiveness in fertilizer production, particularly nitrogen fertilizers, has been expected to pose a proliferative impact on growth of the magnesium nitrate hexahydrate market. Additionally, explosives and fireworks production involves extensive use of magnesium nitrate hexahydrate as a dehydrating agent as well as a catalyst.

However, given the increasing concerns with regard to environmental protection policies that aim at curtailing pollution levels, regulatory bodies have imposed a ban on the use of fireworks. This is expected to keep growth of the magnesium nitrate hexahydrate market in check. Nevertheless, remarkable adoption of magnesium nitrate hexahydrate in the petrochemical industry will offset the confined market growth prospects against the backdrop of fireworks’ prohibition.

Fact.MR has recently published a study that prognosticates the magnesium nitrate hexahydrate market to showcase a modest rise during the forecast period (2018-2028). The study has envisioned the synthetic process used for manufacturing of magnesium nitrate hexahydrate to account for significantly larger market share than the nitro magnesite process. However, revenues from nitro magnesite are set to grow at a comparatively higher rate through 2028.

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Favorable thermal properties of magnesium nitrate hexahydrate has led its adoption as a phase change material (PCM), as this quality chemical imparts high heat during fusion. The heat released can further be leveraged as a lucrative source of energy in various industrial sectors. Growth of the magnesium nitrate hexahydrate is likely to be underpinned by use of the chemical as a phase change material in the use of urban waste heat, which emanates from co-generation systems. Additionally, benefits of this chemical in the formulation of biocidal products, plant protection products, processing aids, and fertilizers will further drive expansion of the magnesium nitrate hexahydrate market.

Magnesium Nitrate Hexahydrate Market: Growth Driven by High Demand for Nitrogen Fertilizers

Manufacturing of nitrogen fertilizers involves use of magnesium nitrate hexahydrate, as the compound is a rich source of nitrogen. Growing requirement for nitrogen fertilizers in tandem with the steadily growing agricultural sector will continue to fuel growth of the magnesium nitrate hexahydrate market. The Food and Agricultural Organization (FAO) states that demand for nitrogen fertilizers across the globe has remained significant in recent years, with sales estimated to close in on 119,418,000 tons by 2018-end. Given such robust sales of nitrogen fertilizers, growth of the magnesium nitrate hexahydrate market will continue to surge in the foreseeable future.

Significant benefits of magnesium in the fixation of nitrogen, and controls nutrient uptake in plants, has further translated into robust use of this compound in the fertilizer industry, particularly in nitrogen fertilizer production. As magnesium nitrate hexahydrate is a core source of nitrogen, steady adoption in the fertilizer industry will significantly impact growth of the magnesium nitrate hexahydrate.

Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR

Table of Contents

Chapter 1. Executive Summary

1.1. Magnesium Nitrate Hexahydrate Market- Opportunity Assessment

Chapter 2. Global Magnesium Nitrate Hexahydrate Market Overview

2.1. Introduction

2.2. Market Definition

2.3. Scope of the report

2.4. Key Takeaways

2.5. Wheel of Fortune

Chapter 3. Market Dynamics

3.1. Raw Material Sourcing

3.1.1. Magnesite Production (‘000 tons)

3.1.2. Top 20 Countries – Magnesite Production

3.1.3. Nitromagnesite Ore Concentration

3.2. Demand for Fertilizer Nutrients

3.2.1. Global nutrients (N+P2O5+K2O) consumption (Mn MT)

3.2.2. Nitrogen Fertilizer Consumption – Regional Shares (Increase/Decrease)

3.3. Investment Feasibility Matrix

3.4. PESTLE Analysis

3.5. Supply Chain

3.6. Cost Structure

3.7. Product Lifecycle

3.8. Forecast Scenario

3.8.1. Forecast Factors

3.9. Porter’s Analysis

3.10. Top Growth Performers Leverage M&A More

3.11. Macroeconomic Factors

3.12. Key Market Participants – Intensity Map Analysis

Continued……………………

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