Global Magnesium Nitrate Hexahydrate Market 2024-2028
The magnesium nitrate hexahydrate market is forecasted to grow by USD 179.96 mn during 2023-2028, accelerating at a CAGR of 4.79% during the forecast period. The report on the magnesium nitrate hexahydrate market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in demand for magnesium nitrate hexahydrate from major agricultural countries, growth in fertilizer industry, and growing use of magnesium nitrate hexahydrate in mining applications.
Technavio's magnesium nitrate hexahydrate market is segmented as below:
By Application
- Additives
- Process chemicals
- Explosive
- Others
By Component
- Dehydrating agent
- Solubilizing agent
- Others
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the adoption of precision farming as one of the prime reasons driving the magnesium nitrate hexahydrate market growth during the next few years. Also, increasing preference for hydroponics and increased urban demand for fruits and vegetables driving horticultural production will lead to sizable demand in the market.
The report on the magnesium nitrate hexahydrate market covers the following areas:
- Magnesium nitrate hexahydrate market sizing
- Magnesium nitrate hexahydrate market forecast
- Magnesium nitrate hexahydrate market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading magnesium nitrate hexahydrate market vendors that include American Elements, Avantor Inc, Central Drug House, FUJI KASEI Co. Ltd., GFS Chemicals Inc., Glentham Life Sciences Ltd., Honeywell International Inc., LABSCOOP LLC, Loba Chemie Pvt. Ltd., Molekula Ltd., Otto Chemie Pvt. Ltd., ProChem Inc., Redox Ltd., Shanxi Knlan Chemical Co. Ltd., Sisco Research Laboratories Pvt. Ltd., Spectrum Laboratory Products Inc., Strem Chemicals Inc., Merck KGaA, Thermo Fisher Scientific Inc., TROPAG OSCAR H. RITTER NACHF. GMBH., and Vizag Chemical International. Also, the magnesium nitrate hexahydrate market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. IT presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.