The Global Magnesium Sulphate Market is expected to rise at a 4.28% CAGR over the forecast period from 2018 to 2027, according to the latest research report from Market Research Future (MRFR). The Global Magnesium Sulfate Market is expected to reach a valuation of more than USD 10.7 billion by 2027, according to the research report.
The Global Magnesium Sulphate Market is primarily driven by the growing demand for Magnesium Sulphate from the food additives, healthcare, and agriculture industries. The growing awareness about the growing prevalence of magnesium deficiency among modern human populations has led to a growing demand for the use of Magnesium Sulphate as a food additive, as it performs the role of supplanting the body’s magnesium needs quite well. The growing research into the field of micronutrients and the most effective ways of consuming them is likely to aid the growth prospects of the Global Magnesium Sulphate Market over the forecast period.
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Healthcare applications of Magnesium Sulphate are also likely to play a key role in the growth of the Global Magnesium Sulphate Market over the forecast period. While casual use of Magnesium Sulphate or Epsom salt as a bath salt has been traditionally popular in several parts of the Western world, serious, scientifically validated medical applications of Magnesium Sulphate are also increasing and are likely to remain a major revenue channel for the Global Magnesium Sulphate Market over the forecast period.
Magnesium Sulphate is used to treat cosmetic conditions such as sores and boils as well as intravenously to treat more serious problems such as arrhythmias and asthma. The growing prevalence of asthma could emerge as a key driver for the Global Magnesium Sulphate Market over the forecast period, as the demand for magnesium sulphate in healthcare applications is likely to rise over the forecast period.
Competitive Analysis:
COMPO GmbH & Co. KG
Baymag
SDIC Xinjiang Luobupo Potash
Qinghai Hanhai Group
Yash Chemicals
Jinxing Chemical
KOLOD
HebeiRongkemeiye
Mani Agro Chem
K+S Group
Hengyang Jumbo Feed Additives
Rech Chemical
Geermuzige Potash
Qinghai Salt Lake Industry
Chemicals LLC.
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Industry Updates:
A study conducted in collaboration by British and Canadian scientists found in January 2018 that prescribing Magnesium Sulphate to pregnant mothers in preterm labor is safe from health risks. The use of Magnesium Sulphate in this application helps prevent the occurrence of cerebral palsy in the infant.
Another study, published in January 2019, found that intravenous administration of magnesium sulphate was effective in calming horses suffering from headshaking. The study involved six geldings suffering from headshaking related to the trigeminal nerve. Such studies could also open up further application avenues for the Global Magnesium Sulphate Market in veterinary medicine over the forecast period.
Segmentation:
The Global Magnesium Sulphate Market has been segmented on the basis of Product Type, Application, and Region.
By Product Type, the Global Magnesium Sulphate Market has been segmented into heptahydrate, anhydrous, and monohydrate magnesium sulphate.
By Application, the Global Magnesium Sulphate Market is segmented into healthcare, agriculture, food additives & pharmaceuticals, chemical and industrial uses, and others.
Regional Analysis:
Asia Pacific is likely to remain the majority shareholder in the Global Magnesium Sulphate Market over the forecast period due to the growing demand for maximizing the agricultural yield per unit area in the region. The agriculture industry in Asia Pacific has long suffered from the large number of farmers plying their trade in the region, which has resulted in congested fields and relatively low overall areas of the fields, particularly when compared to the sprawling acreage often seen in North America. This has resulted in a growing demand for solutions that will allow the farmer to maximize the production. The addition of Magnesium Sulphate as a magnesium and sulfur fertilizer is likely to be a major driver for the Global Magnesium Sulphate Market over the forecast period.
North America and Europe are likely to follow Asia Pacific over the forecast period in the Global Magnesium Sulphate Market.
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