Magnesium Sulfate Market - Industry Segments, Size, Share, Growth Analysis, Trends, Demand, Key Player profile and Regional Outlook by 2024

03/gen/2020 12:51:40 Market Research Future Contatta l'autore

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Market Research Future Has Published a Cooked Research Report on the Global Magnesium Sulfate Market - Forecast to 2024

Market Overview:

Magnesium Sulfate can be defined as an inorganic salt, which is made of oxygen, magnesium, and sulfur. It is also acknowledged as English salt, Epsom salt, and Bitter salt. It occurs in hydrated forms, which includes heptahydrate and monohydrate. The Global Magnesium Sulfate Market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 5.50%, surpassing a valuation of USD 1,334.6 million during the forecast period (2017-2024).

Magnesium Sulfate plays a pivotal role in agricultural and gardening processes in order to correct sulfur or magnesium deficiency in the soil. It is considered a crucial component of several fertilizers and is an essential element in the chlorophyll molecule. It is also efficient in the removal of splinters. It is well-known for its application as low cost, most effective, and safe treatment, which is available for eclampsia and pre-eclampsia. It also has the capability to act as a vasodilator and helps to relieve vasoconstriction, protect the blood-brain barrier, decrease cerebral edema formation, and act as a cerebral anticonvulsant. Such factors will contribute to the market growth in the foreseeable future.

The strong demand for premium quality food and ever-increasing population has led to an increased pressure on farmers to improve the quality of their agricultural products. Soaring application of Magnesium Sulfate for medicinal purposes and rising demand for food are some of the primary growth stimulants of the market.

On the contrary, the adverse effects related to the use of these drugs will hamper the market growth in the foreseeable future.

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Competitive Dashboard:

The Top Players Operating in the Magnesium Sulfate Market include PQ Corporation (US), K+S KALI GmbH (Germany), UMAI CHEMICAL CO., Ltd (Japan), Nafine Chemical Industry Group Co. Ltd (China), Morton Salt, Inc (US), Giles Chemical (US), Acuro Organics Limited (India), Mani Agro Chem Pvt Ltd (India), Laizhou Guangcheng Chemical Co. Ltd (China), and Balaji Industries (India).

Global Magnesium Sulfate Market: Segmental Analysis

The Magnesium Sulfate Market has been segmented on the basis of Form, Type and Application.

By Form, the Magnesium Sulfate Market is segmented into powder, crystal, and granules. Of these, the crystal segment is the largest consumed form and was valued at USD 600 million in 2018. The growth can be ascribed to the soaring demand for the product in the production of textile, agrochemicals, and F&B.

By Type, the market is segmented into anhydrous, heptahydrate, monohydrate, and others. Of these, the heptahydrate segment held the largest share in 2018 and is likely to showcase the highest CAGR of 5.82%. The growth can be ascribed to the soaring demand for this segment in the agricultural and pharmaceutical industries.

By Application, the market comprises medical, fertilizer, industrial, food additive, chemical, and others. Of these, the fertilizer segment acquired the largest share of 30% in 2018. The soaring demand for sulfate as a fertilizer in the agriculture sector will favor the market growth in the segment.

Regional Frontiers:

Geographically, the Magnesium Sulfate Market spans across the Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.

Considering the Global Scenario, the Magnesium Sulfate Market in the Asia Pacific is considered to dominate with a share of 40% in 2018. The region is likely to register the highest CAGR of 6.5% in the coming years, mainly due to the soaring demand for Magnesium Sulfate to produce fertilizers in major countries of the APAC like China, India, Thailand, and Indonesia. In this region, China is considered the leading consumer and producer of magnesium sulfate, which further encourages the market growth in the region. The regional market is likely to register healthy growth due to surging healthcare spending on the part of the government. India and China represent huge agrarian economies, which encourages agricultural consumption of Magnesium Sulfate.

Europe acquires the second position in the global market, mainly due to the presence of Germany, which is considered the major contributor to the market.

Browse Key Industry Insights spread across 165 pages with 211 market data tables & 27 figures & charts from the report, “Magnesium Sulfate Market Information: By Form (Crystal, Powder, Granules), Type (Heptahydrate [Epsom Salt], Anhydrous, Monohydrate, Others), Application (Fertilizer, Medical, Food Additive, Industrial, Chemical, Others) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2024” in detail along with the table of contents   

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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