Magnesium Nitrate Hexahydrate Market Outlook
magnesium nitrate hexahydrate is an inorganic compound with the formula Mg(NO3)2. It has a monoclinic crystal system and is highly soluble in water. It is a mild eye and skin irritant. The compound is used in printing, chemical, agriculture and ceramic industries. It is also employed for the detection of selenium in plasma samples and concentration of nitric acid. Heating of magnesium nitrate hexahydrate leads to its decomposition into magnesium oxide, nitrogen oxide and oxygen.
Growing Petrochemical Industry Fuels the Demand for magnesium nitrate hexahydrate
Significant growth in the manufacturing of petrochemical products offers huge opportunities for the manufacturers of magnesium nitrate hexahydrate. The compound is widely used as a stabilizer and catalyzing agent in petrochemical processing, especially for production of explosives. It also acts as a dehydrating and coloring agent in fireworks. The rise in the manufacturing of petrochemical products will propel the sales of magnesium nitrate hexahydrate globally during the forecast period.
Growing Construction Sector and Fertilizers Escalate the Demand for Magnesium Nitrate
High consumption of magnesium nitrate hexahydrate in the construction sector due to its efficiency in stabilizing concrete is anticipated to boost the growth of the market in North America. The compound is also used in the manufacture of fertilizers. The increasing use of fertilizers in agriculture will drive the demand for the product globally. The growing demand for fertilizers is also expected to propel the sales of magnesium nitrate in India, which is considered as an agricultural stronghold.
