Magnesium Sulphate Market- Global Industry Analysis and Forecast (2023-2029)

Global Magnesium Sulphate Market size was valued at US$ 641.1 Mn. in 2022 and the total revenue is expected to grow at 5.1 % through 2023 to 2029, reaching nearly US$ 908.13 Mn.
Magnesium Sulphate Market Overview:
Magnesium Sulphate market is expected to grow significantly with a CAGR of 5.1 % during the forecast period. The Magnesium Sulphate market is segmented on the basis of form into crystal, powder and granules. On the basis of type, the magnesium sulphate market is segmented into heptahydrate, anhydrous, monohydrate and others. Furthermore, on the basis of application, the market is segmented into fertilizer, pharmaceuticals, automotive, food and beverage, industrial, personal care, paints and textiles, chemicals and water treatment. Geographically the magnesium sulphate market is segmented into North America, Europe, Asia-Pacific, Middle-East and Africa and South America.To know about the Research Methodology :- Request Free Sample Report

Magnesium Sulphate Market report examines the market's growth drivers as well as its segments. Report includes market participants, and regional insights. This market study takes an in-depth look at all of the significant advancements that are currently occurring across all industry sectors. To provide key data analysis for the historical period (2018-2022), statistics, infographics, & presentations are used. The report examines the Magnesium Sulphate markets, Drivers, Restraints, Opportunities, & Challenges. This MMR report includes investor recommendations based on a detailed analysis of the current competitive landscape of the Magnesium Sulphate market.
Magnesium Sulphate Market Dynamics:
The Magnesium Sulphate market is expected to witness significant growth during the forecast period. Many industries, including agriculture, pharmaceuticals, food, personal care, and others, employ magnesium sulphate as one of the most basic chemicals. Magnesium sulphate is used for a variety of reasons in various industries, and with these industries on the rise, the market for magnesium sulphate is likely to increase significantly in the long run. Furthermore, by 2050, the world population is expected to exceed 9 billion people. As a result, agricultural output must be raised over the world.

More focus is being placed on adopting more effective agricultural practices and chemicals, such as fertilizers and herbicides, to boost worldwide agricultural productivity. As a result, in order to maintain a balance between agricultural output and rising food demand, the use of magnesium sulphate-based fertilizers will grow, generating attractive potential for the magnesium sulphate market. Food scarcity is still a big global concern, and one of the main causes is the usage of traditional farming methods, which result in lower crop yields. As a result, demand for agriculture-grade magnesium sulphate as a fertilizer has surged significantly.

Pharmaceuticals, agriculture, and food and feedstock are some of the most common uses for magnesium sulphate. Furthermore, drug companies are manufacturing drugs that are effective for rare diseases in response to the growing global demand for effective therapies. Magnesium sulphate is a medication that has been developed for a variety of clinical applications. Since 1996, it has been on the World Health Organization's medicine list as the most effective, safe, and low-cost molecule.

In terms of restraints, improper magnesium sulphate injection dosage causes significant health effects such as cardiac problems, breathing difficulties, weakness, impaired reflexes, reduced blood pressure, anxiety, and acute drowsiness, which is a major market restraint. Nonetheless, the extensive use of magnesium sulphate in a variety of applications, such as papermaking and amino acid production, is anticipated to open up new market prospects
Segment Analysis:
On the basis of form, crystal form is projected to dominate the magnesium sulphate market during the forecast period due to its increased demand in end-use industries like paints, coatings, construction and water treatment. This increased demand is estimated to keep growing during the forecast period as well. The powder form is also projected to witness significant growth due to its widespread application in pharmaceuticals like cardiovascular drugs, anticonvulsants, anesthetics and others. The growth of granules segment is projected to be slightly restrained due to its dependence on markets like food and beverage, fertilizer and personal care.

On the basis of type, the heptahydrate segment is projected to dominate the magnesium sulphate market during the forecast period. This is due to its increasing demand from agriculture related applications because it is a natural source of Sulphur and Magnesium which is required by plants for growth. Anhydrous type is also projected to witness significant growth due to its increased demand from chemical and metal fabrication industry.

On the basis of application, the fertilizer segment is projected to dominate the magnesium sulphate market during the forecast period as it is linked with the agriculture market. Rise in disposable income and increasing population are the reasons for the growth of fertilizer segment during the forecast period. Pharmaceutical segment is also projected to witness significant growth because of the rise in demand for magnesium compound. It is used to treat migraine as it acts as an analgesic.
Regional Insights:
Asia-Pacific region is projected to dominate the magnesium sulphate market due to extensive industrialization and urbanization. Constituent countries like China and India are growing at a rapid pace and driving the growth of market in the Asia-Pacific region. China has emerged as a hub for end-use markets such as dyes, pigments, paints, textiles etc. Presence of robust manufacturing capabilities enhances the growth in the Asia-Pacific region.

European region is also projected to witness significant growth during the forecast period. Germany is predicted to be one of the major growth drivers for magnesium sulphate outside of emerging markets. This is due to increased manufacturing capacity and imports from Asian countries. North American region is estimated to grow at a significant rate due to increased awareness towards personal care product which is fueling the growth of the magnesium sulphate market in the North American region.

The objective of the report is to present a comprehensive analysis of the Magnesium Sulphate Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Magnesium Sulphate Market dynamics, structure by analyzing the market segments and project the Magnesium Sulphate Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Magnesium Sulphate Market make the report investor’s guide.
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Magnesium Sulphate Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2018 to 2022
5.1%
US$ 641.1 Mn
US$ 908.13 Mn


Segments Covered


by Form
Crystal
Powder
Granules
by Type
Heptahydrate
Anhydrous
Monohydrate
Others
by Application
Fertilizer
Pharmaceuticals
Automotive
Food and beverage
Industrial
Personal Care
Paints and Textiles
Chemicals
Water treatment


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Magnesium Sulphate Market Key Players
1. K+S Aktiengesellschaft (Germany)
2. Giles Chemical (US)
3. Laizhou City Laiyu (China)
4. Laizhou Guangcheng (China)
5. Mani Agro Chem (India)
6. PQ Corporation (US)
7. Zibo Jinxing (China)
8. Mag Products (India)
9. Weifang Huakang (China)
10. Rech Chemical (China)
11. Jiangsu Kolod Food (China)
12. Umai Chemical (Japan)
13. Balaji Industries (India)
14. Morton Salt, Inc (US)
15. Nafine Chemical (India)

Frequently Asked Questions:

1. Which region has the largest share in Global Magnesium Sulphate Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Magnesium Sulphate Market?
Ans: The Global Magnesium Sulphate Market is growing at a CAGR of 5.1% during forecasting period 2023-2029.

3. What is scope of the Global Magnesium Sulphate market report?
Ans: Global Magnesium Sulphate Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Magnesium Sulphate market?
Ans: The important key players in the Global Magnesium Sulphate Market are – K+S Aktiengesellschaft (Germany), Giles Chemical (US), Laizhou City Laiyu (China), Laizhou Guangcheng (China), Mani Agro Chem (India), PQ Corporation (US), Zibo Jinxing (China), Mag Products (India), Weifang Huakang (China), Rech Chemical (China), Jiangsu Kolod Food (China), Umai Chemical (Japan), Balaji Industries (India), Morton Salt, Inc (US), and Nafine Chemical (India)

5. What is the study period of this market?
Ans: The Global Magnesium Sulphate Market is studied from 2022 to 2029.