Magnesium sulphate, also known as Epsom salt, is a versatile mineral that is commonly used in a variety of industries, including agriculture, healthcare, and chemical. Magnesium sulphate is highly soluble in water and contains high levels of magnesium and sulphate, making it an essential nutrient for plant growth and human health. One of the key drivers of the magnesium sulphate market is the growing demand for agricultural products. Magnesium sulphate is commonly used as a fertilizer to improve soil quality and enhance plant growth. As the global population continues to grow, there is an increasing need for food production, which is expected to boost the demand for magnesium sulphate in the agriculture industry.
In addition to its use in agriculture, magnesium sulphate is also widely used in the healthcare industry. It is commonly used as a treatment for conditions such as pre-eclampsia, asthma, and constipation. The increasing prevalence of these health conditions is expected to drive the demand for magnesium sulphate in the healthcare industry. The chemical industry is also a major consumer of magnesium sulphate, where it is used as a raw material in the production of various chemicals such as magnesium carbonate, magnesium hydroxide, and magnesium oxide. The growing demand for these chemicals is expected to boost the demand for magnesium sulphate in the chemical industry.
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Key Takeaways from Market Study
- The global magnesium sulphate market is projected to expand at a CAGR of 5.3% and be valued at US$ 1,351.2 million by 2032
- Under type, Heptahydrate (Epsomite) dominates the market and is valued at US$ 506.6 million in 2022
- East Asia is estimated to dominate the market with a 28.9% market share in 2022
- Agriculture application is estimated to showcase a major market share of 47.1% in 2022
Segmentation of Magnesium Sulfate Industry Research
- By Product Type:
- Heptahydrate (Epsomite)
- Anhydrous (Calcined Kieserite)
- Monohydrate (Kieserite)
- By Application:
- Agriculture Additive
- Food & Feed Additives
- Pharmaceuticals Additives
- Chemical Intermediaries
- Pulp & Paper Additives
- Others Applications
- By Region:
- North America
- Latin America
- East Asia
- South Asia & Oceania
The companies have been significantly developing grades against the backdrop of growing applications. Hefty investments are being made in the end-use market such as agrichemicals enabling them to reach out to new application avenues. Economies of density are a major trend followed by the firms to enhance their marginal profits and lower the cost factors such as FOB, custom duty, extensive tax structure, and higher incompatible price points with regional players.
- The FDA approved the generic magnesium sulphate injection made by Milla Pharmaceutical in November 2021.
- To pay off its debt, K+S completed the sale of its American Salt division to Stone Canyon Industries Holdings, a US-based company, in April 2021.
Prominent magnesium sulphate manufacturers:
- Giles Chemical
- Jiangsu Kolod Food Ingredients Co., Ltd
- K+S Group
- Laizhou City Laiyu Chemical Co. Ltd
- Laizhou Guangcheng Chemical Co., Ltd
- Mani Agro Chem Pvt. Ltd.
- Mag Products India Private Limited (MPIPL)
- PQ Corporation
- Rech Chemical Co. Ltd
- UMAI CHEMICAL Co. Ltd.
- WeifangHuakang Magnesium Sulphate Co., Ltd.
- ZIBO JINXING CHEMICAL CO., LTD.
Key Questions Covered Magnesium Sulphate Market
- What is the magnesium sulphate market?
- What are the key drivers of the magnesium sulphate market?
- What are the major applications of magnesium sulphate in various industries?
- Which regions are expected to witness significant growth in the magnesium sulphate market?
- What are the growth opportunities for the magnesium sulphate market in the coming years?
In conclusion, the magnesium sulphate market is expected to witness significant growth in the coming years due to the increasing demand from various industries. With its wide range of applications and benefits, magnesium sulphate is likely to remain a popular mineral for many years to come.