Product
Magnesium Chloride Price Trends and Forecast
Magnesium Chloride Price Trends and Forecast
Regional Price trends
Get the latest insights on price movement and trends analysis of Magnesium Chloride in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Magnesium Chloride Price Trends for First Half of 2023
Asia
In the first and second quarters of 2023, the price trends of magnesium chloride rose consistently with support from the downstream industries. The major driver of the magnesium chloride market was the fertilizer sector, as the demand for fertilizers along with textile and paper products increased in the region.
The hike in demand promoted trading sentiments in the Asia-Pacific region, and with the depleting level of inventories, the prices of magnesium chloride increased. However, the conditions became challenging in the last months of the second quarter, with lower intake from the major market drivers and a decline in trade from the Chinese manufacturers.
Europe
The price trends of magnesium chloride in the first quarter of 2023 surged as the demand from the fertilizer and construction industries supported the positive movement of the trends. The region during the first quarter also saw a hike in importing and trading charges due to disruptions in the supply chain caused by labor crises in European countries. However, unlike what was observed in the Asia Pacific region, the price trends of magnesium chloride declined in the second quarter of 2023. Due to the suppressed attitude of the buyers in the region, the trading activities declined significantly, and with sluggish demand from the textile and insulation industries, the prices of magnesium chloride dipped.
North America
In the first half of the first quarter of 2023, the prices of magnesium chloride inclined as the sales of fertilizers and related industries witnessed a positive trajectory. However, from the second half of the first quarter, the swindling condition of the economy, recession-like conditions in the market, and the steeply rising cost of energy proved to be a problem for the magnesium chloride market.
In the second quarter, along with several challenges presented by the economy, the market also faced a high supply of magnesium chloride, causing the level of inventories to rise, and with slow demand, this led to the weak movement of magnesium chloride price trends.
Analyst Insight
According to Procurement Resource, the price trends of Magnesium Chloride is expected to decline due to feeble demand from the end-user industries and rising levels of inventories.
Procurement Resource provides latest prices of Magnesium Chloride. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
About
Magnesium chloride is a hygroscopic white crystalline salt which has diverse applications such as a deicing agent, dust control measure, and setting accelerator for cement production. It is used in metallurgy for the treatment of water and also several other industrial processes due to its versatile properties and wide range industrial utility.
Product Details
| Report Features | Details |
| Product Name | Magnesium Chloride |
| Chemical formula | MgCl2 |
| Industrial Uses | Metallurgy, Food industry, Soil enhancement, Deising and snow removal, Dust Control, Cement production |
| CAS Number | 7786-30-3 |
| Molecular weight | 95.211 g/mol |
| HS Code | 28273100 |
| Supplier Database | ICL, Compass Minerals, NikoMag, Skyline Chemical Corporations, Merck KGaA |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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