Magnesium Nitrate Market Size, Share, Trends and Forecast 2034
Magnesium Nitrate Market Growth, Size, Trends Analysis - By Form, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: CHEM25128 | Pages: 1 - 264 | Formats*: |
| Category : Chemical & Materials | |||
Magnesium Nitrate Market Introduction and Overview
According to SPER Market Research, the Global Magnesium Nitrate Market is estimated to reach USD 787.25 million by 2034 with a CAGR of 3.74%.
The report includes an in-depth analysis of the Global Magnesium Nitrate Market, including market size and trends, product mix, Applications, and supplier analysis. The global magnesium nitrate market was valued at USD 545.32 million in 2024 and is anticipated to grow at a CAGR of over 3.74% from 2025 to 2034. The applications of magnesium nitrate are not limited to agriculture; it is also utilized in explosives, chemical production, and wastewater management. The market for magnesium nitrate is expanding due to the growing need for high-efficiency fertilisers, especially in regions with nutrient-depleted soils or intensive farming methods, as well as the growing need for sustainable agricultural practices and improved food production.
By Form Insights:
The powder segment of the magnesium nitrate market had the largest share in 2024 due to its ease of use, high solubility, and efficiency in various applications. Powdered magnesium nitrate functions as a water-soluble fertilizer in agriculture, providing essential nutrients that enhance crop yield and health. It is also favored in industrial applications, such as explosives and chemicals, where precise composition control is necessary. The segment is expected to grow with the rising demand for efficient agricultural inputs, especially in emerging markets.
By Application Insights:
The fertilizers and plant nutrition segment held the largest market share in 2024. This segment is driven by the need for effective and high-quality fertilizers for agriculture. Magnesium nitrate aids in plant growth and crop yield, particularly in regions with nutrient-poor soils, where magnesium and nitrogen are crucial. The demand for advanced agricultural techniques and high-efficiency fertilizers supports this segment's growth.
Regional Insights:
North America holds the largest share of the global magnesium nitrate market and is projected to experience substantial growth at a notable CAGR throughout the forecast period. The expansion of the magnesium nitrate market in North America can be attributed to its wide range of applications in agriculture, chemicals, and various other sectors. Demand is influenced by agricultural practices, industrial activities, and environmental regulations. Recently, the increasing focus on sustainable agriculture and precision farming techniques in North America has led to a heightened demand for magnesium nitrate as a water-soluble fertilizer.
Market Competitive Landscape:
Market players in the magnesium nitrate sector are employing a number of tactics to increase their market share. In order to improve product formulations, such as increasing the solubility and nutritional effectiveness of fertilisers containing magnesium nitrate, key tactics include focussing on research and development. Moreover, companies are increasing their production capabilities and establishing strategic alliances with agricultural entities to satisfy the growing demand for sustainable and high-performance fertilizers. Some companies are also prioritizing geographic expansion, particularly focusing on emerging markets in the Asia-Pacific and Latin America regions.
Recent Developmenst:
The "Invest in Brazil Fertilisers" initiative was introduced by the Brazilian Trade and Investment Promotion Agency (ApexBrasil) on February 4, 2025, during the Fertiliser Latino Americano 2025 event in Rio de Janeiro. This program seeks to attract international investments to reduce Brazil's reliance on imported fertilizers. It offers strategic intelligence for investors and showcases state project portfolios.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Form, By Application |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | AKO Kasei Co. Ltd, American Elements, Avantor Performance Materials, GFS Chemicals, Haifa Mexico, Merck KGaA, Neochim PLC, Rongyu Chemical Co. Ltd, Spectrum Chemical Manufacturing, Thermo Fisher Scientific India Private Limited. |
- Global Magnesium Nitrate Market Size (FY 2021-FY 2034)
- Overview of Global Magnesium Nitrate Market
- Segmentation of Global Magnesium Nitrate Market By Form (Liquid, Powder, Granular)
- Segmentation of Global Magnesium Nitrate Market By Application (Fertilizers and Plant Nutrition, Industrial, Chemical Manufacturing, Laboratory and Scientific Research, Water Treatment, Others)
- Statistical Snap of Global Magnesium Nitrate Market
- Expansion Analysis of Global Magnesium Nitrate Market
- Problems and Obstacles in Global Magnesium Nitrate Market
- Competitive Landscape in the Global Magnesium Nitrate Market
- Details on Current Investment in Global Magnesium Nitrate Market
- Competitive Analysis of Global Magnesium Nitrate Market
- Prominent Players in the Global Magnesium Nitrate Market
- SWOT Analysis of Global Magnesium Nitrate Market
- Global Magnesium Nitrate Market Future Outlook and Projections (FY 2025-FY 2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. Global Magnesium Nitrate Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Magnesium Nitrate Market
7. Global Magnesium Nitrate Market, By Form (USD Million) 2021-2034
- 7.1. Liquid
- 7.2. Powder
- 7.3. Granular
8. Global Magnesium Nitrate Market, By Application (USD Million) 2021-2034
- 8.1. Fertilizers and plant nutrition
- 8.2. Industrial
- 8.2.1. Explosives and blasting agent
- 8.2.2. Production of magnesium compounds
- 8.3. Chemical manufacturing
- 8.3.1. Catalysts
- 8.3.2. Dyeing and textile industries
- 8.4. Laboratory and scientific research
- 8.5. Water treatment
- 8.6. Others
9. Global Magnesium Nitrate Market, (USD Million) 2021-2034
- 9.1. Global Magnesium Nitrate Market Size and Market Share
10. Global Magnesium Nitrate Market, By Region, (USD Million) 2021-2034
- 10.1. Asia-Pacific
- 10.1.1. Australia
- 10.1.2. China
- 10.1.3. India
- 10.1.4. Japan
- 10.1.5. South Korea
- 10.1.6. Rest of Asia-Pacific
- 10.2. Europe
- 10.2.1. France
- 10.2.2. Germany
- 10.2.3. Italy
- 10.2.4. Spain
- 10.2.5. United Kingdom
- 10.2.6. Rest of Europe
- 10.3. Middle East and Africa
- 10.3.1. Kingdom of Saudi Arabia
- 10.3.2. United Arab Emirates
- 10.3.3. Qatar
- 10.3.4. South Africa
- 10.3.5. Egypt
- 10.3.6. Morocco
- 10.3.7. Nigeria
- 10.3.8. Rest of Middle-East and Africa
- 10.4. North America
- 10.4.1. Canada
- 10.4.2. Mexico
- 10.4.3. United States
- 10.5. Latin America
- 10.5.1. Argentina
- 10.5.2. Brazil
- 10.5.3. Rest of Latin America
11. Company Profile
- 11.1. AKO Kasei Co. Ltd
- 11.1.1. Company details
- 11.1.2. Financial outlook
- 11.1.3. Product summary
- 11.1.4. Recent developments
- 11.2. American Elements
- 11.2.1. Company details
- 11.2.2. Financial outlook
- 11.2.3. Product summary
- 11.2.4. Recent developments
- 11.3. Avantor Performance Materials
- 11.3.1. Company details
- 11.3.2. Financial outlook
- 11.3.3. Product summary
- 11.3.4. Recent developments
- 11.4. GFS Chemicals
- 11.4.1. Company details
- 11.4.2. Financial outlook
- 11.4.3. Product summary
- 11.4.4. Recent developments
- 11.5. Haifa Mexico
- 11.5.1. Company details
- 11.5.2. Financial outlook
- 11.5.3. Product summary
- 11.5.4. Recent developments
- 11.6. Merck KGaA
- 11.6.1. Company details
- 11.6.2. Financial outlook
- 11.6.3. Product summary
- 11.6.4. Recent developments
- 11.7. Neochim PLC
- 11.7.1. Company details
- 11.7.2. Financial outlook
- 11.7.3. Product summary
- 11.7.4. Recent developments
- 11.8. Rongyu Chemical Co. Ltd
- 11.8.1. Company details
- 11.8.2. Financial outlook
- 11.8.3. Product summary
- 11.8.4. Recent developments
- 11.9. Spectrum Chemical Manufacturing
- 11.9.1. Company details
- 11.9.2. Financial outlook
- 11.9.3. Product summary
- 11.9.4. Recent developments
- 11.10. Thermo Fisher Scientific India Private Limited
- 11.10.1. Company details
- 11.10.2. Financial outlook
- 11.10.3. Product summary
- 11.10.4. Recent developments
- 11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Magnesium Nitrate Market is projected to reach USD 787.25 million by 2034, growing at a CAGR of of 3.74% during the forecast period.
Magnesium Nitrate Market grew in Market size from 2025. The Market is expected to reach USD 787.25 million by 2034, at a CAGR of 3.74% during the forecast period.
Magnesium Nitrate Market CAGR of 3.74% during the forecast period.
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Magnesium Nitrate Market size is USD 787.25 million from 2025 to 2034.
Magnesium Nitrate Market is covered By Form, By Application
The North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa is the highest Market share in the Magnesium Nitrate Market.
AKO Kasei Co. Ltd, American Elements, Avantor Performance Materials, GFS Chemicals, Haifa Mexico, Merck KGaA, Neochim PLC, Rongyu Chemical Co. Ltd, Spectrum Chemical Manufacturing, Thermo Fisher Scientific India Private Limited.
The report includes an in-depth analysis of the Global Magnesium Nitrate Market, including market size and trends, product mix, Applications, and supplier analysis.
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