The Magnesium Sulfate Market is anticipated to strengthen its boundaries at an average CAGR of 5.7% during the forecast period. The market is expected to hold a share of USD 1 billion in 2023 while it is anticipated to cross a value of USD 1.68 billion by 2033.
The research report on the magnesium sulfate market explains that the rapidly growing agricultural and pharmaceutical usage of magnesium sulfate is increasing the sales of magnesium sulfate.
Furthermore, the magnesium sulfate industry is intertwined with several industries, as it purchases raw materials and chemicals from some and distributes the finished product to others. These factors fuel the market growth along with the advent of heptahydrate magnesium sulfate in pharmaceutical usage.
While agriculture-grade magnesium chloride and its applications are flourishing the demand for magnesium sulfate. It is also used in medication against constipation and delivers short-term relief. Another driving factor for the product is its integration with other agricultural fertilizers to become agriculture-grade magnesium sulfate.
The magnesium sulfate market outlook states cement, food, agriculture, and pulp and paper were among the densely hit end-use industries during the pandemic. This results in a significant drop in demand for magnesium sulfate.
The usage of heptahydrate magnesium sulfate as a cathartic agent is anticipated to fuel the market growth during the forecast period. Its effective and small-interval relief of constipation and other stomach diseases is pushing the sales of pharma-grade magnesium sulfate.
| Attributes | Details |
|---|---|
| Magnesium Sulfate Market CAGR (2023 to 2033) | 5.7% |
| Magnesium Sulfate Market Size (2023) | USD 1 billion |
| Magnesium Sulfate Market Size (2033) | USD 1.68 billion |
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Previously, the market flourished at a lower CAGR of 5.3% between 2017 and 2022. This growth pace was attributed to the adversely affected chemical research and development facilities. Furthermore, the lockdown and logistical bans to curb the spreading virus also affected the demand for FMCG products, limiting the demand for magnesium sulfate.
Short-term Growth (2023 to 2026): During this period, the rising utilization of magnesium sulfate in chemicals, agriculture, pharmaceuticals, and other end-use industries is a key driver of the market. As a result, the market is experiencing rapid growth and is expected to hold a better space by the end of the forecast
Mid-term Growth (2026 to 2029): Growth in this period is likely to be attributed to the expanding agricultural growth. A significant development in the end-use industries is also boosting the demand for magnesium sulfate. Growing demand from the food and beverage industry is further expected to augment the growth of the market.
Long-term Growth (2029 to 2033): Growing focus on reducing plastic consumption and stringent government regulations and mandates to restrict plastic waste are some main factors that are estimated to influence magnesium sulfate market potential. Thus, the magnesium sulfate market is anticipated to thrive at a steady CAGR of 5.7% between 2023 and 2033.
Agriculture-grade magnesium sulfate is an important supplement component for plant development. Epsom Salt is a natural magnesium sulfate heptahydrate obtained by crystallization from natural brines followed by a mechanically propelled refinement process.
Agriculture and the pharmaceutical industry have historically driven demand for magnesium sulfate.
Magnesium-based fertilizers play an important role in photosynthesis. Moreover, sugar production, starch translocation, fat formation, and iron utilization are all aided by it.
It also helps with nitrogen fixation and nutrient uptake control. Because of the advantages that magnesium provides, it has become widely used in the industry. As a result, magnesium sulfate has become a popular source of pure magnesium in agricultural fertilizer development.
Principal Consultant
| Regions | CAGR (2023 to 2033) |
|---|---|
| United States | 3.5% |
| China | 4.1% |
| France | 2.4% |
| Germany | 3.5% |
| Japan | 3.1% |
Expanding Food & Beverage and Water Treatment Industry is fueling the Market Growth
| United States Market CAGR (2023 to 2033) | 3.5% |
|---|---|
| United States Market Anticipated Value (2033) | USD 100.5 million |
As per FMI’s analysis, the United States magnesium sulfate market is thriving at an average CAGR of 3.5% between 2023 and 2033. The market is anticipated to hold a value of USD 100.5 million by 2033. The market holds a value of USD 33.3 million in 2023. The growth is attributed to the increased pharmaceutical application.
The advent of organic farming has affected the market adversely. However, conventional farming being the prominent form of producing crops is still garnering sales of agriculture-grade magnesium chloride. Furthermore, the usage of solid magnesium sulfate salts for laundry detergents as a fining agent is further gaining traction in the market.
Higher Research and Development Facilities along with the Increasing Pharmaceutica Usage the traction for the Regional Market
| Germany Market CAGR (2023 to 2033) | 3.5% |
|---|---|
| Germany Market Anticipated Value (2033) | USD 208.8 million |
Germany magnesium sulfate market thrives at a CAGR of 3.5% between 2023 and 2033. According to FMI, Germany is expected to account for a fair share of the global market. Over the forecast period, Germany is expected to dominate the European market with a significant value share in terms of consumption.
Germany is expected to be one of the hotspots for magnesium sulfate. The country's demand has been met thanks to high production capacity and imports from Asian countries. Europe and North America-based manufacturers face stern competition from China, due to low-cost exports originating from the country.
Manufacturers from these regions need to develop high-purity magnesium sulfate and build on brand image to sustain the competition. Germany is expected to reach about USD 208.8 million by the year 2033.
Government Water Treatment Plants along with Pest Control Systems are fuelling the Regional Growth
| China Market CAGR (2023 to 2033) | 4.1% |
|---|---|
| China Market Anticipated Value (2033) | USD 470.8 million |
Chin leads the magnesium sulfate market in terms of CAGR. It thrives at a leading CAGR of 4.1% between 2023 and 2033. The market holds a value of USD 242.4 million in 2023.
China is projected to reach an estimated value of USD 470 million by the end of 2030. China to presents stiff competition for global manufacturers in terms of export quantities and pricing. China, one of the prominent producers and exporters of magnesium sulfate, along with India, Brazil, and Saudi Arabia is estimated to grow at a robust pace in terms of demand growth.
Surging manufacturers in the country, who are the leading exporters of magnesium sulfate and leaders of low-cost offerings, have been driving other global manufacturers to offer products at a competitive price and better quality grades to stay competitive in the global market.
Growing end-use industries in China, are favoring the growth of the magnesium sulfate market and are expected to propel the growth in the forecast period
| Segment | Top Product Type |
|---|---|
| Top Sub-segment | Heptahydrate |
| CAGR (2023 to 2033) | 5.8% |
| CAGR (2017 to 2022) | 5.0% |
| Segment | Top Grade Type |
|---|---|
| Top Sub-segment | Agriculture |
| CAGR (2023 to 2033) | 5.9% |
| CAGR (2017 to 2022) | 5.5% |
Heptahydrate magnesium sulfate thrives at a CAGR of 5.8% till the end of the forecast period. The growth is attributed to its usage as a cathartic, anticonvulsant, and electrolyte replenisher. It is widely used in the treatment of pre-eclampsia. Previously, the segment thrived on a comparatively lower CAGR of 5.0%.
Magnesium Sulfate’s usage as Epsom Salt in Agriculture to Provide Pepper Plats Nutrition is Expanding the Segment’s Size
Based on grade, the agriculture segment is expected to see high sales over the forecast period.
The segment is anticipated to thrive at a CAGR of 5.9% between 2023 and 2033. The expanding agricultural research along with soil losing its nutritional value is pushing farmers to use magnesium sulfate as it provides enough components to enrich the cropland. Its usage is for encouraging growth, improving flavor, pest control, and root shock prevention.
The food & feed additives segment is projected to create an absolute dollar opportunity of more than USD 29.3 million from 2022 to 2030. The current world food economy is primarily driven by changes in food consumption and dietary trends in livestock products.
The Asia Pacific region has seen significant population growth in recent decades, resulting in increased meat consumption, which has been increasing at an alarming rate of 4% per year.
Aside from meat consumption, the demand for milk and dairy products has increased by 2 to 3 percent per year. As a result, livestock production has increased rapidly, affecting the crop sector that supplies feed, such as cereals, oilseeds, and fisheries.
The feed demand has been viewed as a dynamic factor influencing the cereals sector's growth, particularly in developed regions.
Magnesium sulfate chemical helps avoid auto-mutilation, cannibalism, sudden cardiac death, poor meat quality, and transportation mortality. The rising demand for animal feed and livestock has increased the market's need for animal feed magnesium sulfate to keep animals healthy and free of side effects, boosting market sales.
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In order to meet the growing demand for magnesium sulfate, manufacturers have shifted their focus to emerging countries in recent years. Several leading players are concentrating primarily on improving their production capabilities, research and development investments, collaborative partnerships, and mergers and acquisitions.
Market Developments
The global magnesium sulfate market is forecasted to develop at an impressive 5.7% CAGR until 2033.
The total demand for magnesium sulfate in 2023, in terms of value, to be around USD 1 billion.
The growing use of magnesium sulfate in agriculture is boosting its sales in current years.
The heptahydrate magnesium sulfate segment generated almost 40% of the total revenue in 2022.
China is expected to drive the market at 4.1% CAGR at the regional production level up till 2033.
1. Executive Summary | Magnesium Sulfate Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Heptahydrate 5.2. Monohydrate 5.3. Anhydrous 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Grade 6.1. Industrial Grade 6.2. Food Grade 6.3. Agriculture Grade 6.4. Pharma Grade 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 7.1. Solid 7.2. Liquid 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 8.1. Chemicals 8.2. Pharmaceuticals & Personal Care 8.3. Pulp & Paper 8.4. Agriculture 8.5. Food & Feed Additives 8.6. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Giles Chemical 17.2. Laizhou City Laiyu Chemical Co. Ltd 17.3. Laizhou Guangcheng Chemical Co., Ltd 17.4. Mani Agro Chem Pvt. Ltd. 17.5. PQ Corporation 17.6. ZIBO JINXING CHEMICAL CO., LTD. 17.7. Mag Products India Private Limited 17.8. Weifang Huakang Co., Ltd. 17.9. Rech Chemical Co., Ltd. 17.10. K+S Aktiengesellschaft 18. Assumptions & Acronyms Used 19. Research Methodology
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Magnesium Sulfate Market
