Magnesium Acetate Market

Magnesium Acetate Market Overview

The magnesium acetate market is anticipated to record a CAGR of 4.5% during the forecast period, up from US$ 834.76 Mn in 2022 to reach a valuation of US$ 1296.36 Mn by 2032.

Sales of magnesium acetate is expected to rise due to the increasing demand for magnesium acetate in various industries such as pharmaceuticals, food, and textiles. This is a major factor driving the growth of magnesium acetate market share.

The growing demand for magnesium acetate in these industries is due to its diverse applications as an antacid, laxative, and emulsifier, which are utilized in a variety of products such as medications, food, and textiles. This is anticipated to boost the sales of magnesium acetate during the forecast period.

Increasing awareness of numerous benefits of magnesium acetate is also projected to contribute to the growth of the magnesium acetate market share.

For example, magnesium acetate has been shown to be beneficial in relieving pain associated with osteoarthritis and rheumatoid arthritis, leading to an increase in demand for magnesium acetate in patients suffering from these disorders around the world. This aspect will also play a key role in increasing sales of magnesium acetate and further driving the growth of magnesium acetate market share over the forecast period.

What are the Key Drivers to the Magnesium Acetate Market Share?

Due to increased industrialization and the resulting need for energy, the combustion of fossil fuels (such as coal) in manufacturing and thermal power production units is expanding, due to which the demand for magnesium acetate is also rising. Steel production also contributes to the emissions of pollutants such as sulphur dioxide and nitrous oxide from coal combustion.

Magnesium acetate is sprayed into coal-burning furnaces, and humidity in emission chambers is raised, which eliminates and inhibits the release of particulate matter containing sulphur oxide and nitrous oxides in addition to mercury. As a result of its usage and increasing demand, the sales of magnesium acetate is also anticipated to rise during the forecast period.

Magnesium acetate thus minimizes pollution by limiting the release of such dangerous chemicals into the atmosphere. This is one of the primary factors driving the sales of magnesium acetate and aiding the growth of magnesium acetate market share.

Magnesium acetate is also utilized in deicing highways in tropical locations that get snowfall. One of the other important reasons contributing to the rise in demand for magnesium acetate and the growth of the magnesium acetate market is the increase in highway construction activities and traffic on such routes.

The widespread usage of alternative ecologically harmful chemicals such as sodium chloride and calcium chloride in high volume applications such as highway deicing and pollution suppression is a big challenge that might affect the sales of magnesium acetate and the overall magnesium acetate market growth. This is due to a lack of understanding of the environmental benefits of magnesium acetate.

Nikhil Kaitwade

Principal Consultant

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Which Region holds the Highest Growth Potential in the Magnesium Acetate Market?

North America is dominating the global magnesium acetate market. This is due to the increasing demand for magnesium acetate, growing highway network and the presence of a large number of pharmaceutical and food processing companies in the region. Further, the deicing property of magnesium acetate finds application in the region as it is prone to snowfall, which further aids in boosting the sales of magnesium acetate in the region.

The Asia Pacific region is expected to witness the highest magnesium acetate market growth during the forecast period owing to the increasing industrialization in emerging economies like India and China. In addition, the presence of a large number of textile, food and pharmaceutical industries is also fueling the growth of the magnesium acetate market share in the region.

Who are the Key Players in the Magnesium Acetate Market?

Major players in the magnesium acetate market include Merck KGaA , Weifang Yuze Chemical , Niacet Corporation , Celtic Chemicals , , Shanxi Zhaoyi Chemical Co. Ltd. , Lehmann&Voss&Co. , UMAI Chemical , Ava Chemicals Hefei, TNJ Chemical Industry , VASA PharmaChem , Yuanfu Chemical , American Elements , Wuxi Yangshan Biochemical.

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