The Asia Pacific Magnesium Chloride Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 612.7 Kilo Tonnes, showcasing a growth of 4.4% (2019-2022).
Magnesium chloride is employed in the mining industry as a flocculating agent for mineral processing. This application contributes to the demand for this, particularly in regions with active mining operations. It is used in mineral processing as a flocculating agent. It helps separate and settle out fine particles, improving the efficiency of the mineral recovery process. The mining industry relies on this application to extract valuable ores and minerals. Dust control is critical in mining operations, especially in open-pit mining and bulk material handling. It is used to suppress dust, creating a safer and more environmentally responsible working environment for mine workers.
Magnesium chloride is sometimes used in froth flotation, which separates valuable minerals from gangue. It aids in forming mineral-laden froth, which is essential for mineral separation. Mining operations' drilling and exploration phase requires drilling fluids to cool and lubricate the drill bit and remove drill cuttings. It is used to formulate drilling fluids due to its compatibility with various drilling methods. After drilling, it is employed in well completion fluids to stabilize wellbores and prevent caving in drilling operations. In hydraulic fracturing (fracking) operations, it can be used to formulate fracturing fluids to enhance the effectiveness of the process. It helps maintain well integrity and support fracturing activities.
As per Invest India, India's healthcare industry is expanding at a rapid rate due to its expanding coverage, services, and rising expenditures by both public and private players. In FY17, the hospital industry in India was worth $ 61.79 billion, and it is projected to reach $ 132 billion by 2023. Telemedicine is the eHealth industry with the greatest growth potential in India, with a projected value of $5.40 billion by 2025. According to China.org, in 2021, the combined business revenue of China's pharmaceutical companies increased by 18.7 percent annually, the fastest growth rate in the previous five years (2016-2021). The factors mentioned above will drive the regional market growth.
The China region dominated the Asia Pacific Magnesium Chloride Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $85,509.2 Thousand by 2030. The India region is registering a CAGR of 5.1% during (2023 - 2030). Additionally, The Japan region would showcase a CAGR of 3.7% during (2023 - 2030).
Based on Product, the market is segmented into Anhydrous, and Hexahydrate. Based on End-use, the market is segmented into Construction, Textile, Wastewater Treatment Chemicals, Healthcare, and Others. Based on countries, the market is segmented into China, India, Japan, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Compass Minerals International, Inc, Shandong Baomo Biochemical Co., Ltd., ICL Group Ltd. (Israel Corp.), Intrepid Potash Inc., Merck KGaA, Cargill, Incorporated, Nedmag B.V., K+S Aktiengesellschaft, Celtic Chemicals Ltd. and Deusa International GmbH.
Magnesium chloride is employed in the mining industry as a flocculating agent for mineral processing. This application contributes to the demand for this, particularly in regions with active mining operations. It is used in mineral processing as a flocculating agent. It helps separate and settle out fine particles, improving the efficiency of the mineral recovery process. The mining industry relies on this application to extract valuable ores and minerals. Dust control is critical in mining operations, especially in open-pit mining and bulk material handling. It is used to suppress dust, creating a safer and more environmentally responsible working environment for mine workers.
Magnesium chloride is sometimes used in froth flotation, which separates valuable minerals from gangue. It aids in forming mineral-laden froth, which is essential for mineral separation. Mining operations' drilling and exploration phase requires drilling fluids to cool and lubricate the drill bit and remove drill cuttings. It is used to formulate drilling fluids due to its compatibility with various drilling methods. After drilling, it is employed in well completion fluids to stabilize wellbores and prevent caving in drilling operations. In hydraulic fracturing (fracking) operations, it can be used to formulate fracturing fluids to enhance the effectiveness of the process. It helps maintain well integrity and support fracturing activities.
As per Invest India, India's healthcare industry is expanding at a rapid rate due to its expanding coverage, services, and rising expenditures by both public and private players. In FY17, the hospital industry in India was worth $ 61.79 billion, and it is projected to reach $ 132 billion by 2023. Telemedicine is the eHealth industry with the greatest growth potential in India, with a projected value of $5.40 billion by 2025. According to China.org, in 2021, the combined business revenue of China's pharmaceutical companies increased by 18.7 percent annually, the fastest growth rate in the previous five years (2016-2021). The factors mentioned above will drive the regional market growth.
The China region dominated the Asia Pacific Magnesium Chloride Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $85,509.2 Thousand by 2030. The India region is registering a CAGR of 5.1% during (2023 - 2030). Additionally, The Japan region would showcase a CAGR of 3.7% during (2023 - 2030).
Based on Product, the market is segmented into Anhydrous, and Hexahydrate. Based on End-use, the market is segmented into Construction, Textile, Wastewater Treatment Chemicals, Healthcare, and Others. Based on countries, the market is segmented into China, India, Japan, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Compass Minerals International, Inc, Shandong Baomo Biochemical Co., Ltd., ICL Group Ltd. (Israel Corp.), Intrepid Potash Inc., Merck KGaA, Cargill, Incorporated, Nedmag B.V., K+S Aktiengesellschaft, Celtic Chemicals Ltd. and Deusa International GmbH.
Scope of the Study
Market Segments Covered in the Report:
By Product (Volume, Kilo Tonnes, USD Million, 2019-30)- Anhydrous
- Hexahydrate
- Construction
- Textile
- Wastewater Treatment Chemicals
- Healthcare
- Others
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Compass Minerals International, Inc
- Shandong Baomo Biochemical Co., Ltd.
- ICL Group Ltd. (Israel Corp.)
- Intrepid Potash Inc.
- Merck KGaA
- Cargill, Incorporated
- Nedmag B.V.
- K+S Aktiengesellschaft
- Celtic Chemicals Ltd.
- Deusa International GmbH
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Magnesium Chloride Market, By Product
Chapter 5. Asia Pacific Magnesium Chloride Market, By End-use
Chapter 6. Asia Pacific Magnesium Chloride Market, By Country
Chapter 7. Company Profiles
Companies Mentioned
- Compass Minerals International, Inc
- Shandong Baomo Biochemical Co., Ltd.
- ICL Group Ltd. (Israel Corp.)
- Intrepid Potash Inc.
- Merck KGaA
- Cargill, Incorporated
- Nedmag B.V.
- K+S Aktiengesellschaft
- Celtic Chemicals Ltd.
- Deusa International GmbH
Methodology
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