Magnesium Nitrate Market Size - By Form, By Application and Forecast, 2025 - 2034

Magnesium Nitrate Market Size

The global magnesium nitrate market held a size of USD 543.9 million in 2024 and is projected to expand to over 3.5% CAGR from 2025 to 2034.
 

Magnesium nitrate is an inorganic compound commonly used as a fertilizer, especially in agriculture, due to its high solubility and ability to provide essential nutrients like magnesium and nitrogen to plants. It plays a crucial role in improving plant growth, enhancing crop yield, and boosting photosynthesis.
 

The scope of magnesium nitrate extends beyond agriculture, as it is also used in explosives, chemical manufacturing, and wastewater treatment. Growth opportunities for magnesium nitrate are driven by increasing demand for sustainable agriculture practices, expanding food production, and the rising need for high-efficiency fertilizers, especially in regions with nutrient-depleted soils or intensive farming systems.
 

Magnesium Nitrate Market Trends

The magnesium nitrate industry is witnessing significant growth, driven by rising demand in the agriculture sector, where it is used as a water-soluble fertilizer to enhance crop yield and plant health. Key market trends include increasing adoption of sustainable and high-efficiency fertilizers as farmers seek to optimize resource use and improve soil quality. Additionally, the market is seeing a growing focus on precision agriculture, further boosting the use of magnesium nitrate. Its applications in other industries, such as explosives and wastewater treatment, are also contributing to market expansion. Emerging markets in Asia-Pacific and Latin America are key growth regions.
 

Magnesium Nitrate Market Analysis

The magnesium nitrate industry is experiencing steady growth due to its wide application in agriculture, where it is used as an essential nutrient to improve crop productivity and soil health. The market is driven by the increasing demand for high-efficiency fertilizers, particularly in regions facing nutrient depletion. In addition to agriculture, magnesium nitrate is used in explosives, chemicals, and wastewater treatment, contributing to its diversified demand. Key players are focusing on sustainable production methods and innovative product formulations to cater to growing environmental concerns. The Asia-Pacific region is emerging as a major growth area due to expanding agricultural activities.
 

The powder segment held over USD 246 million in 2024, growing at a CAGR of over 3.7% during the forecast period. The powder segment of the magnesium nitrate market holds significant potential due to its ease of use, high solubility, and efficiency in various applications. As a water-soluble fertilizer, powdered magnesium nitrate is widely used in agriculture to provide essential nutrients to crops, enhancing yield and plant health. The powder form is also preferred in industrial applications, such as in the production of explosives and chemicals, where precise control over composition is required. With the rising demand for efficient agricultural inputs and the growth of the chemical industry, the powder segment is expected to see continued expansion, particularly in emerging markets.
 

The fertilizers and plant nutrition segment held over USD 218.6 million in 2024, growing at a CAGR of over 3.7% during the forecast period. fertilizers and plant nutrition segment holds significant scope in the market, driven by the growing need for efficient and high-quality fertilizers in agriculture. Magnesium nitrate, a highly soluble fertilizer, plays a crucial role in enhancing plant growth, improving photosynthesis, and boosting crop yield. As the demand for sustainable and precision farming practices increases, this segment is poised for growth. It is especially important in regions with nutrient-depleted soils, where magnesium and nitrogen are essential for crop development. The rising adoption of advanced agricultural techniques and the emphasis on high-efficiency fertilizers further fuel the demand in this segment.
 

The China magnesium nitrate market size dominated with a market size of USD 101.4 million in 2024 and expected to grow at a 3.4% CAGR in 2025-2034. The market in China is experiencing strong growth, driven by the country's expanding agricultural sector and increasing demand for high-efficiency fertilizers. As one of the largest producers and consumers of fertilizers globally, China is leveraging magnesium nitrate to improve crop yields and enhance soil quality, especially in areas with magnesium deficiency. Additionally, the growing focus on sustainable agriculture and precision farming techniques is boosting the demand for water-soluble fertilizers like magnesium nitrate. Beyond agriculture, magnesium nitrate is also used in industrial applications such as explosives and chemicals, further contributing to market expansion in China.
 

Magnesium Nitrate Market Share

Market players in the magnesium nitrate industry are adopting various strategies to strengthen their position. Key approaches include focusing on research and development to improve product formulations, such as enhancing the solubility and nutrient efficiency of magnesium nitrate fertilizers. Additionally, companies are expanding their production capacities and forming strategic partnerships with agricultural organizations to meet the rising demand for sustainable and high-performance fertilizers. Some players are also focusing on geographic expansion, particularly targeting emerging markets in Asia-Pacific and Latin America. Moreover, an increasing emphasis on environmentally friendly production processes and eco-friendly product offerings is becoming a key competitive differentiator.
 

Magnesium Nitrate Market Companies

Major players operating in the magnesium nitrate industry are:

• AKO Kasei Co. Ltd.
• American Elements
• Avantor Performance Materials
• GFS Chemicals
• Haifa Mexico
• Merck KGaA
• Neochim PLC
• Rongyu Chemical Co. Ltd.
• Spectrum Chemical Manufacturing
• Thermo Fisher Scientific India Private Limited
• Van Iperen International
• Vishnupriya Chemicals Private Limited
• William Blythe
• Yara International
   

Magnesium Nitrate Industry News

• In November 2023, Avantor enhanced its cellular science offerings by adding multi-span cell engineering and assay services. These services aim to support advanced research and development in cellular biology, providing enhanced capabilities for cell engineering projects. The expanded portfolio is designed to meet the growing demand for innovative solutions in cell-based assays, offering scientists improved tools for drug discovery, testing, and other biological applications. This expansion strengthens Avantor’s position in the life sciences sector, catering to a broader range of research needs and improving the efficiency of cellular research processes.
   

This magnesium nitrate market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) & volume (Kilo Tons) from 2021 to 2034, for the following segments:

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Market, By Form

• Liquid
• Powder
• Granular

Market, By Application

• Fertilizers and plant nutrition
• Industrial
  • Explosives and blasting agent
  • Production of magnesium compounds
• Chemical manufacturing
  • Catalysts
  • Dyeing and textile industries
• Laboratory and scientific research
• Water treatment
• Others 

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa