Magnesium Nitrate Market

By Application;

Agriculture (Fertilizer), Fire Retardants & Explosives, Pharmaceuticals, Water Treatment and Catalysis

By Grade;

Technical Grade, Reagent Grade and Food Grade

By Form;

Solid, Liquid and Solution

By Distribution Channel;

Direct Sales, Distributors and Online Retailers

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn616355111 Published Date: September, 2025 Updated Date: October, 2025

Magnesium Nitrate Market Overview

Magnesium Nitrate Market (USD Million)

Magnesium Nitrate Market was valued at USD 267.05 million in the year 2024. The size of this market is expected to increase to USD 351.42 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.0%.


Magnesium Nitrate Market

*Market size in USD million

CAGR 4.0 %


Study Period2025 - 2031
Base Year2024
CAGR (%)4.0 %
Market Size (2024)USD 267.05 Million
Market Size (2031)USD 351.42 Million
Market ConcentrationHigh
Report Pages318
267.05
2024
351.42
2031

Major Players

  • Avantor Performance Materials
  • Haifa Mexico
  • Sigma Aldrich
  • American Elements
  • Van Iperen International
  • Yara International
  • Neochim PLC

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Magnesium Nitrate Market

Fragmented - Highly competitive market without dominant players



The Magnesium Nitrate Market is expanding steadily, primarily supported by its growing use in fertilizer production. Over 55% of demand stems from agriculture, where the compound enhances soil health and crop yield. Its high solubility makes it suitable for advanced farming practices, with increasing adoption in nutrient-focused agricultural solutions.

Industrial Applications in Chemicals
A significant portion of demand, nearly 30%, arises from the chemical sector, where magnesium nitrate is used in specialty chemicals, pyrotechnics, and catalysts. Its versatility as a raw material ensures continued usage across diverse industrial applications, reflecting its importance in manufacturing processes.

Innovation and Product Development
Technological advancements are reshaping the production landscape of magnesium nitrate. Close to 35% of recent innovations emphasize improved purity levels and reduced costs. These R&D efforts not only enhance product efficiency but also ensure a reliable supply chain for multiple end-user industries.

Positive Growth Prospects
With over 40% of companies focusing on production expansion and eco-friendly processes, the Magnesium Nitrate Market is set for long-term growth. Its broad utility across agriculture, chemicals, and environmental solutions underlines its strategic role in supporting both industrial efficiency and sustainable development.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Application
    2. Market Snapshot, By Grade
    3. Market Snapshot, By Form
    4. Market Snapshot, By Distribution Channel
    5. Market Snapshot, By Region
  4. Magnesium Nitrate Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Agricultural Demand
        2. Environmental Regulations
        3. Industrial Applications
        4. Technological Advancements
      2. Restraints
        1. Production Costs
        2. Raw Material Availability
        3. Regulatory Challenges
        4. Market Competition
      3. Opportunities
        1. Emerging Markets
        2. Innovative Applications
        3. Advanced Water Treatment
        4. Enhanced Fertilizer Technologies
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Magnesium Nitrate Market, By Application, 2021 - 2031 (USD Million)
      1. Agriculture (Fertilizer)
      2. Fire Retardants & Explosives
      3. Pharmaceuticals
      4. Water Treatment
      5. Catalysis
    2. Magnesium Nitrate Market, By Grade, 2021 - 2031 (USD Million)
      1. Technical Grade
      2. Reagent Grade
      3. Food Grade
    3. Magnesium Nitrate Market, By Form, 2021 - 2031 (USD Million)
      1. Solid
      2. Liquid
      3. Solution
    4. Magnesium Nitrate Market, By Distribution Channel, 2021 - 2031 (USD Million)
      1. Direct Sales
      2. Distributors
      3. Online Retailers
    5. Magnesium Nitrate Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. ICL Group
      2. Albemarle Corporation
      3. Haifa Group
      4. Yara International
      5. Star Grace Mining Co., Ltd.
      6. Merck KGaA
      7. Avantor Performance Materials
      8. GFS Chemicals Inc.
      9. Honeywell International Inc.
      10. Mil-Spec Industries
      11. Van Iperen International
      12. TradeMark Nitrogen
      13. RX Chemicals
      14. Gujarat Agri-Chem Industries Private Limited
      15. Shijiazhuang Noah Chemicals
  7. Analyst Views
  8. Future Outlook of the Market