H1 2023: The largest consumer of Magnesium Sulphate in H1 2023 was the Asia Pacific region. In the first three months of 2023, the magnesium sulphate market experienced pessimistic sentiments due to a decline in procurement from the downstream agriculture sector The excess stocks in the Asian region and the decline in upstream sulfuric acid costs led to the dampened market sentiment. Moreover, the increase in the prices of sulfuric acid and magnesium oxide upstream caused the March price of magnesium sulphate to shift upward. With limited supply and a gentle trading environment from downstream agrochemical companies, the magnesium sulphate market went towards a bullish side. In April 2023, the demand from western importers decreased since there were sufficient supplies in the Asian market and relatively modest fertilizer offtakes by the Asian agriculture sectors. In May 2023, there were more orders for Asian fertilizers in the foreign market. Concurrently, the downturn in upstream sulphur prices resulted in lower Magnesium Sulphate production costs. Due to increasing purchasing activity during the Dragon Boat Festival in China, the price decline of magnesium sulphate in June was marginal.
The global Magnesium Sulphate market stood at approximately 3000 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 3.6% during the forecast period until 2032.
Also referred to as Epsom salt, magnesium sulphate is a chemical compound consisting of the elements magnesium, sulphur, and oxygen. In addition to occurring naturally as the minerals kiesite and epsomite, it can also be produced industrially by combining sulfuric acid with magnesium carbonate (MgCO3) or magnesium oxide (MgO). Epsom salt, or magnesium sulphate, is a common fertilizer used in agriculture to increase crop yield and plant development. Additionally, because of its medicinal qualities—which include lowering inflammation, curing magnesium insufficiency, and easing muscle pain—it is used in the pharmaceutical and healthcare industries. Magnesium sulphate is also a vital component used by the chemical industry to produce a number of other compounds, such as magnesium hydroxide, magnesium carbonate, and magnesium oxide. Magnesium salt is employed as fertilizer in the agriculture sector to make up for magnesium deficiencies. Vegetable and cash crop farmers mostly rely on magnesium-rich soil to establish ideal growing conditions for their crops. Splinters can also be removed with the use of magnesium sulphate. Anticonvulsant medications such as magnesium sulphate work well. It is commonly known that magnesium sulphate is the most safe, affordable, and effective treatment for severe pre-eclampsia and eclampsia. Magnesium sulphate can also function as a vasodilator, which means that it can reduce constriction, prevent the development of cerebral enema, safeguard the blood-brain barrier, and have anticonvulsant effects on the brain. It is possible to provide magnesium sulphate intravenously or intramuscularly. The primary intravenous magnesium preparation is magnesium sulphate.
The population is growing at a never-before-seen rate worldwide, which has forced agricultural output. Crop yield has decreased as a result of the overuse and ongoing depletion of agricultural land. These reasons are driving up demand for magnesium compounds from the agricultural sector. Injections of magnesium sulphate are also used to treat paediatric acute nephritis and to stop seizures in cases of severe pre-eclampsia, eclampsia, or pregnancy-related toxaemia. The growing consumption of magnesium sulphate by the pharma sector is yet another contributing factor. The global Magnesium Sulphate market is anticipated to reach nearly 4200 thousand tonnes by 2032.
Asia Pacific is the major consumer of the global market for Magnesium Sulphate. The Asia-Pacific magnesium sulphate market is expected to be driven by strong agricultural production, rising personal care costs, and well-established paper and pulp industries over the course of the long-term projection period till 2032. Asia Pacific holds a dominating position in the magnesium sulphate market due to the presence of important manufacturers, the growing pharmaceutical and personal care industries, and supportive government efforts. North America is yet another prominent consumer. Due to a number of factors, including the growing use of sustainable farming methods, growing public awareness of the advantages of magnesium sulphate in crop cultivation, and rising demand for the product from the pharmaceutical and healthcare industries, the market in the region is likely to expand at a higher CAGR. Furthermore, the rapid expansion of the market in North America is being propelled by technical breakthroughs, research and development endeavors, and the existence of significant players in the region.
Based on type, the Magnesium Sulphate market is divided into Heptahydrate, Anhydrous, Monohydrate, and Others. The versatile and highly soluble heptahydrate magnesium sulphate, commonly referred to as Epsom salt, finds extensive application in a wide range of sectors. It is widely used as a fertilizer in agriculture to raise plant growth and improve soil quality. Because of its medicinal qualities, the heptahydrate form is very frequently used in the pharmaceutical sector to treat magnesium insufficiency and as a component of laxatives. Its widespread availability, affordability, and variety of uses account for its dominance. For uses associated with sulphates, magnesium sulphate monohydrate provides a source of magnesium that is somewhat soluble in acid and water. Magnesium sulphate monohydrates are pure, efficient, and offer precise composition and pH values. Because of these qualities, it is frequently utilized in a variety of industrial applications and for the manufacture of medical solutions.
Based on the end-user industry, the global Magnesium Sulphate market is divided into Fertilizers, Pharmaceuticals, Pulp & Paper, Food & Feed Additives, and Others. Among these, Fertilizers is the major segment and held about 27% of the global Magnesium Sulphate market in 2022. Due to its versatility, there has been an increase in demand for the magnesium compound in medicinal applications. Additionally, the salt is known to alleviate eclampsia and preeclampsia and function as a migraine analgesic.
Major players in the Global Magnesium Sulphate market are K+S Aktiengesellschaft, Giles Chemical, Laizhou City Laiyu Chemical Co. Ltd, Laizhou Guangcheng Chemical Co., Ltd, Mani Agro Chem Pvt. Ltd.,PQ Corporation, Zibo Jinxing Chemical Co., Ltd., Mag Products India Private Limited, Weifang Huakang Magnesium Sulphate Co., Ltd., and Rech Chemical Co., Ltd.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Magnesium Sulphate which covers production, demand and supply of Magnesium Sulphate market in the globe.
• To analyse and forecast the market size of Magnesium Sulphate
• To classify and forecast Global Magnesium Sulphate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Magnesium Sulphate market in the globe.
To extract data for Global Magnesium Sulphate market, primary research surveys were conducted with Magnesium Sulphate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Magnesium Sulphate market over the coming years.
ChemAnalyst calculated Magnesium Sulphate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Magnesium Sulphate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Magnesium Sulphate manufacturers and other stakeholders
• Organizations, forums and alliances related to Magnesium Sulphate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Magnesium Sulphate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Magnesium Sulphate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
3000 thousand tonnes
Market size Volume in 2032
4200 thousand tonnes
Growth Rate
CAGR of 3.60% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Fertilizers, Pharmaceuticals, Pulp & Paper, Food & Feed Additives, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Magnesium Sulphate in terms of volume in 2022?
Ans:
The global market size of Magnesium Sulphate has reached approximately 7500 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Magnesium Sulphate?
Ans:
Asia Pacific region is the leading consumer of Magnesium Sulphate globally.
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