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Magnesium Nitrate Price Trend Analysis 2026: Historical Prices, Supply Demand Analysis, Price Drivers, Latest News & Market Insights
Magnesium Nitrate Price Trend Q1 2024
In the North American market, the downstream sectors of magnesium nitrate witnessed notable development, supporting the upward trend in its prices during the first quarter of 2024. This quarter saw a sustained inclination in magnesium nitrate prices, influenced by market dynamics and economic factors mirroring those affecting magnesium powder. The market's trajectory was significantly impacted by a surge in inquiries for magnesium nitrate from downstream industries, coupled with supply disruptions from exporting nations.
The economic slowdown during the Lunar New Year and Spring Festival in China led to a temporary halt in production and transportation activities, causing delays in shipments and production. These disruptions affected the global industries reliant on Chinese suppliers, increasing expenses in the US market and influencing the overall market outlook.
Although Chinese factories resumed operations post-holiday towards the end of February, however, an insufficient supply of magnesium nitrate persisted due to labor shortages, reduced production momentum, and limited availability of raw materials, continuing the bleak condition of the supply chains. This scarcity further drove the price increases for magnesium nitrate. Additionally, geopolitical tensions, notably in the Middle East, disrupted global shipping lanes and impacted the freight charges and supply chains of magnesium nitrate throughout the first quarter of 2024. However, the central banks worldwide grappled with inflationary pressures, limiting consumer budgets, which might showcase its effect in the adjacent quarters.
Analyst Insight
According to Procurement Resource, the price of Magnesium Nitrate is expected to struggle with the uprising global trading challenges with the disruption of traditional routes and increased transportation expenditures.
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About Magnesium Nitrate
Magnesium nitrate is a crystalline solid with high solubility in water. This soluble nature of the compound is well exploited in the agriculture sector where it is used to treat magnesium deficiencies in plants and also in the nourishment of soil culture to improve crop health and yield. Industrially, magnesium nitrate is valued for its role in the production of pyrotechnics and fireworks, where it serves as an oxidizing agent due to its ability to release oxygen upon decomposition. It also finds application as a catalyst in various chemical reactions and as a precursor in the synthesis of other magnesium compounds. Magnesium nitrate's hygroscopic nature makes it suitable for use in environments where humidity control is important.
Magnesium Nitrate Product Detail
Chemical Formula
Mg(NO3)2
Molecular Weight
148.3 g/mol
Industrial Uses
Agriculture, Firework production, Catalyst
Supplier Database
Avantor Performance Materials, Columbus Chemical Industries, GFS Chemicals, Cosmic Chemicals, Yara International
Regional Coverage
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
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-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.
Magnesium Nitrate Production Process
With water as the reaction medium, magnesium oxide is reacted with nitric acid. The mixture is then dehydrated via heating to produce anhydrous magnesium nitrate.
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