USD 1.14 billion
Magnesium Sulphate Market Size, Share, Growth Analysis, By Type(Heptahydrate, anhydrous, monohydrate and others), By Application(Fertilizer, medical, food additive, industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2248 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
75
Magnesium Sulphate Market Insights
Magnesium Sulphate Market size was valued at USD 1.14 billion in 2021 and is poised to grow from USD 1.2 billion in 2022 to USD 1.83 billion by 2030, growing at a CAGR of 5.4% during the forecast period (2023-2030).
The global magnesium Sulphate market is experiencing significant growth and expansion driven by various factors. Magnesium Sulphate, also known as Epsom salt, finds extensive use in agriculture as a fertilizer, enhancing plant growth and crop yield. Moreover, it is utilized in the pharmaceutical and healthcare sectors for its therapeutic properties, such as relieving muscle pain, reducing inflammation, and treating magnesium deficiency. Additionally, the chemical industry employs magnesium Sulphate as a key ingredient in the production of various compounds, including magnesium hydroxide, magnesium carbonate, and magnesium oxide. The demand for magnesium Sulphate is also on the rise in the cosmetics and personal care industry due to its use in bath salts, skin care products, and hair care formulations. The market is witnessing significant expansion across regions, with Asia Pacific emerging as a prominent consumer and producer of magnesium Sulphate due to its booming agricultural sector, growing population, and increasing awareness about the benefits of magnesium Sulphate in various applications. Other regions such as North America also contribute significantly to the market growth, driven by the rising demand for organic and sustainable agriculture practices and the increasing adoption of magnesium Sulphate in pharmaceuticals and personal care products. However, the market is not without challenges. Fluctuating raw material prices, stringent environmental regulations, and the availability of alternatives are some factors that may impede market growth to some extent. Nevertheless, technological advancements, research and development activities, and strategic collaborations among key players in the market are expected to create lucrative opportunities and drive the global market in the coming years.
US Magnesium Sulphate Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Heptahydrate
Fastest Growth
Heptahydrate
Growth Rate
5.4% CAGR
Global Magnesium Sulfate Market ($ Bn)
Country Share for North America Region (%)
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Magnesium Sulphate Market Segmental Analysis
Global Magnesium Sulphate Market is segmented by type, application, and region. Based on type, the market can be segmented into Heptahydrate, anhydrous, monohydrate and others. Based on application, the market is segmented into Fertilizer, medical, food additive, industrial, chemical and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Magnesium Sulphate Market Analysis by Type
Heptahydrate type dominated the global magnesium Sulphate market. Heptahydrate magnesium Sulphate, also known as Epsom salt, is widely used across various industries due to its high solubility and versatility. It is extensively utilized in agriculture as a fertilizer to improve soil quality and enhance plant growth. The heptahydrate form is also commonly employed in the pharmaceutical industry for its therapeutic properties, such as in the treatment of magnesium deficiency and as a component in laxatives. Its dominance can be attributed to its wide availability, cost-effectiveness, and diverse applications.
On the other hand, the fastest growing segment in the global magnesium Sulphate market is the anhydrous type. Anhydrous magnesium Sulphate refers to the compound without water molecules and offers advantages such as higher concentration and lower transportation costs due to its reduced weight. This type of magnesium Sulphate is witnessing rapid growth primarily driven by its increasing demand in industrial applications, especially in the chemical and construction sectors. Anhydrous magnesium Sulphate finds applications in the production of dyes, pigments, paper, ceramics, and cement, among others. The growing industrialization, infrastructure development, and expanding chemical industry are fueling the demand for anhydrous magnesium Sulphate, making it the fastest growing segment in the market.
Magnesium Sulphate Market Analysis by Application
The fertilizer application segment dominated the global magnesium Sulphate market. Magnesium Sulphate is extensively used as a fertilizer in agriculture due to its ability to provide essential nutrients to plants, promote healthy growth, and enhance crop yields. It is particularly valued for its magnesium content, which plays a crucial role in chlorophyll production and photosynthesis. The fertilizer segment dominates the market due to the increasing demand for sustainable agricultural practices, the need to improve soil fertility, and the rising adoption of magnesium Sulphate as an effective fertilizer worldwide.
The fastest growing segment in the global magnesium Sulphate market is the medical application. Magnesium Sulphate has significant therapeutic properties and is commonly used in the medical field for various purposes. It is employed in the treatment of conditions such as eclampsia, pre-eclampsia, and seizures. Magnesium Sulphate is also utilized as a muscle relaxant, anti-inflammatory agent, and for magnesium supplementation in cases of magnesium deficiency. The medical application segment is experiencing rapid growth due to the increasing prevalence of these medical conditions, rising awareness about the benefits of magnesium Sulphate in healthcare, and the expanding scope of its applications in different medical treatments.
Global Magnesium Sulfate Market By Type
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Magnesium Sulphate Market Regional Insights
Asia Pacific region dominated the global magnesium Sulphate market. Asia Pacific holds a significant market share due to several factors, including the region's large agricultural sector, increasing population, and growing industrialization. The demand for magnesium Sulphate as a fertilizer in agriculture is high in countries like China and India, driving the dominance of the Asia Pacific region in the market. Additionally, the presence of key manufacturers, expanding pharmaceutical and personal care industries, and favorable government initiatives further contribute to the dominant position of Asia Pacific in the magnesium Sulphate market.
North America is the fastest growing region in the global magnesium Sulphate market. The region is witnessing rapid market growth due to various factors, such as the increasing adoption of organic and sustainable agricultural practices, rising awareness about the benefits of magnesium Sulphate in crop cultivation, and the growing demand for magnesium Sulphate in the pharmaceutical and healthcare sectors. Moreover, the technological advancements, research and development activities, and the presence of key players in North America are driving the market's fast-paced growth in the region.
Global Magnesium Sulfate Market By Geography
- Largest
- Fastest
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Magnesium Sulphate Market Dynamics
Magnesium Sulphate Market Drivers
Increasing demand for organic and sustainable agricultural practices
- One key driver of the global magnesium Sulphate market is the growing demand for organic and sustainable agricultural practices. As the global population continues to increase, there is a rising need for efficient and environmentally friendly agricultural solutions. Magnesium Sulphate, as a fertilizer, offers benefits such as improving soil fertility, enhancing crop growth, and reducing the environmental impact of conventional farming methods. The increasing awareness and adoption of organic farming practices are driving the demand for magnesium Sulphate in the agriculture sector.
Magnesium Sulphate Market Restraints
Fluctuating raw material prices
- One key restraint of the global magnesium Sulphate market is the fluctuating raw material prices. The production of magnesium Sulphate involves the extraction and processing of raw materials such as magnesium ores and sulfuric acid. The prices of these raw materials can be subject to volatility due to factors such as supply-demand dynamics, geopolitical tensions, and economic conditions. Fluctuating raw material prices can impact the overall cost of production and, subsequently, the pricing and profitability of magnesium Sulphate products. This can pose challenges for market players in terms of maintaining stable margins and pricing competitiveness.
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Magnesium Sulphate Market Competitive Landscape
The competitive landscape of the global magnesium Sulphate market is characterized by a mix of established players, emerging companies, and regional manufacturers. Market participants focus on product innovation, research and development, and expanding their production capacities to gain a competitive edge. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are common strategies employed by key players to strengthen their market presence and expand their customer base. The market is highly competitive, with a strong emphasis on quality, cost-effectiveness, and the development of sustainable and eco-friendly solutions. The intense competition in the market encourages continuous advancements in manufacturing processes, product formulations, and application development to meet the evolving demands of various industries.
Magnesium Sulphate Market Top Player’s Company Profiles
- K+S Group (Germany)
- PQ Corporation (US)
- China Nafine Group International Co., Ltd (China)
- UMAI CHEMICAL CO., LTD (Japan)
- Giles Chemical (US)
- Mani Agro Chem Private Limited (India)
- Acuro Organics Limited (India)
- Laizhou Guangcheng Chemical Co., Ltd (China)
- Global Calcium (India)
- Laizhou City Laiyu Chemical CO., Ltd (China)
- Yara International ASA (Norway)
- Tessenderlo Group (Belgium)
- Compass Minerals (US)
- Israel Chemicals Ltd. (Israel)
- Nippon Chemical Industrial Co., Ltd. (Japan)
- Shanxi Jiaocheng Hongxing Chemical Co., Ltd. (China)
- Changzhou New Star Chemical Co., Ltd. (China)
- Hebei Meishen Technology Co., Ltd. (China)
- Tangshan Weihao Magnesium Powder Co., Ltd. (China)
- Maruti Chemicals Company (India)
Magnesium Sulphate Market Recent Developments
- In December 2021, B. Braun Medical Inc., a company specializing in infusion therapy and pain management, announced the introduction of a range of ready-to-use injectable drug products containing magnesium Sulphate. To ensure a reliable supply of this important drug used for preventing and controlling seizures associated with preeclampsia and eclampsia, the products are manufactured in Irvine, California.
- In November 2021, Milla Pharmaceuticals, a subsidiary of the Alter Pharma Group, obtained approval from the US FDA for its Abbreviated New Drug Application (ANDA) for the Generic Version of Magnesium Sulphate in Water for Injection. The approval covers doses of 4 g/50 mL (80 mg/mL), 4 g/100 mL (40 mg/mL), and 2 g/50 mL (40 mg/mL) in Non-PVC, Single-Patient Use Containers. Magnesium Sulphate Injection is used to prevent and control seizures in preeclampsia and eclampsia. The approval and launch of the generic version are expected to address supply issues of this essential medication listed on the ASHP drug shortage list.
- In April 2021, K+S Group finalized the divestment of its America's salt business associated with the Operating Unit Americas. The sale was completed to Stone Canyon Industries Holdings LLC, Mark Demetree, and Partners for a total price of USD 2.93 billion. This divestment represents a significant step for K+S Group in reducing its debt and aligning its focus on other core operations.
Magnesium Sulphate Key Market Trends
- One key market trend in the global magnesium Sulphate market is the increasing adoption of magnesium Sulphate in the cosmetic and personal care industry. Magnesium Sulphate, also known as Epsom salt, is being increasingly used in various cosmetic and personal care products such as bath salts, body scrubs, creams, and hair care formulations. The trend is driven by the growing consumer preference for natural and organic ingredients in personal care products. Magnesium Sulphate is valued for its exfoliating, cleansing, and soothing properties, making it a popular choice among consumers seeking natural and beneficial ingredients in their skincare and haircare routines. The incorporation of magnesium Sulphate in cosmetic and personal care products aligns with the rising demand for wellness-focused and environmentally friendly formulations, driving the market trend in this direction.
Magnesium Sulphate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global magnesium Sulphate market analysis, the market is characterized by the dominance of the Asia Pacific region, particularly in the agricultural sector, where magnesium Sulphate is extensively used as a fertilizer. North America is identified as the fastest growing region, fueled by the increasing demand for organic and sustainable agricultural practices and the rising adoption of magnesium Sulphate in pharmaceuticals and personal care products. The competitive landscape of the market features a mix of established players, emerging companies, and regional manufacturers, with a focus on product innovation, research and development, and strategic collaborations. Fluctuating raw material prices pose a challenge, while the increasing adoption of magnesium Sulphate in the cosmetic and personal care industry emerges as a key market trend. Overall, the global market continues to expand, driven by its diverse applications in agriculture, healthcare, chemicals, and other industries.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.14 billion |
| Market size value in 2031 | USD 1.83 billion |
| Growth Rate | 5.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Magnesium Sulphate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Magnesium Sulphate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Magnesium Sulphate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Magnesium Sulphate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Magnesium Sulphate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Magnesium Sulphate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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