Global Magnesium Nitrate Hexahydrate Market Expected to Secure Notable Revenue Share during 2018-2028

Posted on 2019-02-11 by Mark Hub in Chemicals // 0 Comments

Fact.MR

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.

Get a Sample Copy of this report: https://www.factmr.com/connectus/sample?flag=S&rep_id=913

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 the magnesium nitrate hexahydrate market growth 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 nitromagnesite process. However, revenues from nitromagnesite are set to grow at a comparatively higher rate through 2028.

Magnesium Nitrate Hexahydrate Market: High Adoption as Additives, Trailed by Use in Explosives Manufacturing

Magnesium nitrate hexahydrate seeks extensive employment as soil additives, food & feed additives and specialty chemical additives, in light of its effective functionalities including solubilizing and oxidizing. Leading stakeholders in the magnesium nitrate hexahydrate market have gained prominence in processing & supplying this high-in-demand chemical. The property of magnesium nitrate hexahydrate to build chlorophyll in trees and plants has significantly led its adoption as an effective soil additive for promoting the vegetable crop growth.

Growth of the magnesium nitrate hexahydrate market will be led by adoption of the chemical as additives, followed by its robust employment in manufacturing explosives. Widely demanded for use in combination with other magnesium salts, magnesium nitrate hexahydrate is formulated under strict supervision. Prominent companies in the magnesium nitrate hexahydrate market are offering this increasingly essential chemical at reasonable prices to retain their position in this highly competitive market.

Magnesium nitrate hexahydrate has been capaciously utilized as a catalyst and a dehydrating agent in the production of explosives. With widespread adoption of explosives in the military, construction, and mining industry, coupled with growing mining activities worldwide, growth of the magnesium nitrate hexahydrate market will remain sustained in the near future. Additionally, robust expenditure in the defense sector, which has proliferated the use of explosives, will continue to underpin expansion of the magnesium nitrate hexahydrate market.

To view complete information about this report, click here: https://www.factmr.com/report/913/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.

For Further Insights and Segment-Specific Information, Contact a Market Analyst at: https://www.factmr.com/connectus/sample?flag=AE&rep_id=913

About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market insights 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.

Matched content

Editor’s pick