Magnesium Nitrate Market Size Projected to Reach $793.99 million by 2034 | 3.8%

According to Straits Research the global magnesium nitrate market size was valued at $567.6 million in 2025 and is projected to grow from $589.17 million in 2026 to $793.99 million by 2034, at a CAGR of 3.8% during the forecast period 2026–2034.

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.  

Market Segments

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