Rising Use of Magnesium Nitrate in the Manufacturing of Fertilizers Drives the Magnesium Nitrate Market Growth

Introduction

Magnesium Nitrate is an inorganic nitrate salt (Mg (NO3)2), which is used as an oxidizing agent in various industries as it forms a flammable mixture when mixed with hydrocarbons. Magnesium nitrate is extensively used in the manufacturing of agricultural products, such as fertilizers. Several manufacturers are developing fertilizer using magnesium nitrate; for instance, Haifa Group developed Magnisal™, a magnesium nitrate-based fertilizer that improves the growth of crops. Magnesium nitrate fertilizer provides crops with readily available magnesium, which is essential for their healthy growth.

Magnesium Nitrate Uses

• Magnesium Nitrate is used as a dehydrating agent in the preparation of concentrated nitric acid
• It is also used in the production of different petrochemicals and ammonium nitrate
• Magnesium nitrate is also used as a viscosity adjuster in chemical industries
• It is used in the manufacturing of agricultural products
• Magnesium nitrate is used in the making of toner and colorant products
• It is also used in the mining process

Health Hazards Associated with Magnesium Nitrate

Magnesium nitrate is considered as a strong oxidizer, and its contact with other materials may cause an explosion. Exposure to magnesium nitrate can cause mild irritation in the mucous membranes. Swallowing large doses of magnesium nitrate can result in dizziness, weakness, vomiting, bloody diarrhea, abdominal pain, and convulsions. When it comes to contact with skin, it can cause redness, irritation, and pain.  

Competitive Players

1. Avantor Performance Materials
2. BeanTown Chemical
3. Columbus Chemical Industries
4. Cosmic Chemicals
5. GFS Chemicals
6. Merck KGaA
7. Spectrum Chemical Manufacturing
8. Thermo Fisher Scientific India Private Limited
9. Vishnupriya Chemicals Private Limited
10. William Blythe
11. Sigma Aldrich
12. Van Iperen International
13. Yara International
14. Haifa Mexico
15. Neochim PLC
16. AKO Kasei Co. Ltd.
17. American Elements
18. Rongyu Chemical Co. Ltd.

Recent Developments

• November 2023- Avantor® expanded its cellular science offerings with multi-span cell engineering and assay services.
• November 2023- OK Plant committed to circular fertilization with GreenSwitch® Original.

Segmentation

1. By Manufacturing Process
   1. Nitromagnesite
   2. Synthetic
2. By Function
   1. Solubilizing Agent
   2. Dehydrating Agent
   3. Oxidizing Agent
   4. Reducing Agent
   5. Catalyzing Agent
3. By Application
   1. Additives
   2. Catalysts
   3. Admixtures for Concrete
   4. Magnesium Salts