Magnesium Acetate Market Size

Magnesium Acetate Market size was valued at USD 10.51 Million in 2023 and is expected to exceed USD 20.06 Million by the end of 2036, registering over 5.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of magnesium acetate is evaluated at USD 10.99 Million.. The growth of the market can be attributed to the growing incidence of rheumatoid arthritis and osteoarthritis globally. Further, the growing aging population and an increase in the rate of obesity, across the globe are also expected to boost market growth. Additionally, the demand for magnesium acetate is increasing among people suffering from rheumatoid arthritis and osteoarthritis as it helps to reduce the pain related to these conditions. As of 2019, there were more than 500 million common cases of osteoarthritis worldwide.

In addition to these, factors that are believed to fuel the market growth of magnesium acetate include the increasing textile and clothing industries. The strong demand for clothing, particularly in developing nations such as India, and China, is predicted to present the potential for market expansion over the projected period. Furthermore, in the textile business, magnesium acetate is used as a drying agent and processing aid for fiber furnishing, which also aids in boosting fiber stability and lowering fabric shrinkage, which eventually enhances the caliber of the finished item.