Magnesium Chloride Market Key Players, Price and Cost Structure Analysis till 2023
Global Magnesium Chloride Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Magnesium chloride is a naturally occurring inorganic compound with the formula MgCl2. It is extracted from the places with high salt content such as the Dead Sea and the Great Salt Lake. The compound is available in multiple hydrated crystal and anhydrous forms. The factors that are playing a major role in the growth of market are the rising demand from end-use industries, increasing adoption of magnesium alloy in automotive and aerospace industries, and the increasing demand from deicing applications. However, its hazardous effect on health may restrain overall market growth in the years to come. Magnesium chloride market is segmented based on product type, grade, application, and region.
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