Magnesium Acetate Market Share

North American Market Forecast

North America industry is poised to dominate majority revenue share by 2037. The growth of the market can be attributed majorly to the increasing growth of the cosmetics industry. There is a huge demand for beauty and hair products in the region, which is estimated to influence the market growth over the forecast period. Further, magnesium acetate tetrahydrate products are used to create a variety of colors, including azo dyes, sulphur dyes, fur dyes, and others. The market for items containing magnesium acetate tetrahydrate will be positively impacted by increased manufacturing of colors such as azo dyes, sulphur dyes, and fur dyes. Owing to a rise in the demand for cosmetic dyes in the area, there is now a greater market demand for magnesium salt products used in the production of hair colors. For instance, in the US, sales of skincare products increased by over 12% in 2022.

APAC Market Statistics

The Asian Pacific magnesium acetate market, amongst the market in all the other regions, is projected to grow with a satisfactory CAGR during the forecast period. The growth of the market can be attributed majorly to the existence of a large number of textile industries in the region. For instance, the main drivers of the growth of textile industries in the Asia-Pacific area are the rising demand for apparel and home furnishings. For instance, more than 30% of the world's textile markets are under China's control, with India coming in second. Further, there is more demand for magnesium acetate in textile industries owing to its variety of applications. It is used as a fixative for dyeing in the textile industry, and to increase the suppleness of fibers by removing water from them. As per data, the textile sector in India is among the largest in the world, contributing over 15% of the nation's overall industrial output.

Europe Market Forecast

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the increasing number of smoking in the region. The population of Europe is consuming tobacco products and smoking at a high rate, owing to the easy availability of cigarettes in various sizes, shapes, flavors, and colors. To create synthetic silk fiber for cigarette filters, magnesium acetate is employed in the production of cigarette paper, which is anticipated to contribute to the market growth in the region.