Magnesium Sulphate Market

Magnesium Sulfate Market Outlook (2022-2032)

The global magnesium sulfate market is set to enjoy a valuation of US$ 783.6 million in 2022 and further expand at a CAGR of 5.3% to reach US$ 1,351.2 million by the end of 2032.

Demand for seafood, dairy products, and processed meat is rising as people prefer functional and healthy foods more and more. Magnesium sulphate is used as a stabilizer in cheese and dairy products, as well as a water retention agent in the processing of meat.

Report Attributes	Details
Magnesium Sulphate Market Size (2021A)	US$ 743.7 Million
Estimated Market Value (2022E)	US$ 783.6 Million
Forecasted Market Value (2032F)	US$ 1,351.2 Million
Global Market Growth Rate (2022-2032)	5.3% CAGR
Europe Market Share (2022)	~20.3%
China Market Share (2022)	~15.0%
Market Share of Top 3 Countries	~22.4%
Key Companies Profiled	Giles Chemical Jiangsu Kolod Food Ingredients Co., Ltd K+S Group Laizhou City Laiyu Chemical Co. Ltd Laizhou Guangcheng Chemical Co., Ltd Mani Agro Chem Pvt. Ltd. Mag Products India Private Limited (MPIPL) PQ Corporation Rech Chemical Co. Ltd UMAI CHEMICAL Co. Ltd. WeifangHuakang Magnesium Sulphate Co., Ltd. ZIBO JINXING CHEMICAL CO., LTD.

Sales Analysis of Magnesium Sulfates

Magnesium sulfate is a naturally occurring mineral found in seawater, and minerals such as kieserite and epsomite. Magnesium sulphate can also be produced by reacting sulphuric acid with magnesium oxide. Magnesium sulphate often encounters as magnesium sulphate heptahydrate, commonly known as Epsom salt. It finds its application as a nutrient supplier, firming agent, processing aid, and flavor enhancer in a diverse range of industries including food, pharmaceutical, and agriculture.

Magnesium sulphate helps to inactivate metallic ions in order to prevent the degradation of personal care and cosmetic products. Besides this, it helps to reduce the alteration in the pH of a solution when a base or acid is added. Thus, growth in the personal care industry and associated penetration of MgSO4 holds the key to future forecasts.

• Short Term (2022 Q2 to 2025): Suring demand from emerging end users like chemicals and pulp & paper applications are set to yield lucrative opportunities for market players.
• Medium Term (2025-2028): The Asia Pacific and North America are anticipated to witness high magnesium sulphate demand on the back of abundant crude and natural gas availability in these regions, coupled with favorable government initiatives.
• Long Term (2028-2032): Growing demand requisite from the pharmaceutical and food & feed additives industries are set to provide thrust to the magnesium sulphate market in the long run.

According to Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.3% CAGR between 2022 and 2032.

Market share analysis of magnesium sulphate based on application and region is provided in a nutshell in the above image. Under the application segment, the agriculture sub-segment dominates with a 47.1% market share in 2022.

“Livestock Growth and Increasing Animal Feed Demand to Increase MgSO4 Sales”

The modern global food economy is primarily driven by changes in dietary preferences and food consumption, particularly with regard to cattle products. The APEJ region has had a considerable rise in population over the past few decades leading to increased meat consumption, which has been rising at an alarming pace of 4% annually.

Along with the consumption of meat, the demand for milk and dairy products has increased by 2-3% annually. The overall agricultural output has been significantly impacted by the rise in demand. The output of livestock has rapidly increased, which has an impact on the agricultural industry that produces feed, including fisheries, oilseeds, and cereals.

The demand for feed has been viewed as a dynamic factor that influences the development of the cereals sector, particularly in developed nations. Magnesium sulphate benefits animals by lowering cannibalism, auto-mutilation, poor meat quality, sudden cardiac death, and transit mortality.

The increase in demand for livestock and animal feed has increased the requirement for animal feed magnesium sulphate in the market to maintain animal health without causing negative side effects, assisting market sales.

“Rising demand for Nutraceuticals to drive Magnesium Sulphate Market”

In terms of innovation, development, and marketing, the food industry's nutraceuticals sector is one that is expanding quickly. Due to the growing customer desire for all-natural dietary supplements that offer nourishment and defense against chronic diseases, their demand is expanding.

• According to a report published by the World Health Organization (WHO), the global kilocalories (kcal) per capita per day are set to reach 3050 Kcal by 2030, which was measured at 2940 Kcal in 2015.

Consumption of nutraceuticals can be either solely or in conjunction with food additives or functional foods. Consumer demand for organic or natural products has shifted as a result of rising rates of chronic diseases and the negative health impacts of conventional treatments.

Magnesium is an essential dietary supplement for humans. So, the rising demand for nutraceuticals is probably going to increase magnesium sulphate use in the food sector.

“Pricing Volatility and High-Grade Magnesium: A Major Growth Restrainer for the Market”

Volatility in pricing and the lack of high-grade magnesium are two of the main factors limiting the market's expansion. China is the world's top manufacturer of magnesium compounds and changes in Chinese policy have had an impact on the cost and availability of magnesium grade on the international market.

Due to environmental concerns, a magnesium plant in China was shut down, which had an impact on the mineral's price and availability. The supply of magnesium sulphate has become more limited on a worldwide scale due to price and supply instability.

Recent severe variations in energy prices and raw material prices have in turn had an impact on the overall cost of magnesium sulphate compounds. High-end production and costs are constantly being impacted by environmental challenges in China.

Country-wise Insights

What is the Current Scenario of the Magnesium Sulfate Market in China?

According to the Observatory of Economic Complexity (OEC), China accounted for around 39% of the total global export of magnesium sulphate in 2020 valuing US$ 128 million. China is the world's top producer of magnesium with an approximate production of 18 million tons of magnesite.

The numerous end-use industries have manufacturing hubs in China that are fostering the expansion of the regional market. The regional magnesium sulphate market tends to benefit from the presence of established key players who offer a variety of their products in the area.

The demand is being fueled by the growth of the chemical industry, rising consumer expenditure on personal care and cosmetics, and developments in the agricultural sector.

Why is India Expected to be a Highly Money-spinning Market?

Over the forecast period, India's magnesium sulphate market is likely to be driven by high agricultural output, a supportive government policy toward the agriculture sector, rising personal care spending, and a well-established paper & pulp industry.

• For instance, according to Environmental Paper Network, 2019, Asia Pulp & Paper (APP) (Indonesia) intends to build a paper and pulp plant with a 5 Mn ton annual production capacity in Andhra Pradesh, India.

Additionally, the pharmaceutical business is anticipated to grow, which further supports the market, as a result of rising medical tourism and a focus on patient-centric trends. Patients from North America and Europe frequently travel to India for medical treatment.

Category-wise Insights

Why is Heptahydrate Magnesium Sulfate Leading the Market?

Heptahydrate captures a major chunk of the magnesium sulphate market with less than two-fifths of the overall market. Heptahydrate is primarily advised for foliar application, hydroponics, and fertigation as it is an efficient supplier of magnesium and sulphur. Even the most demanding plants can benefit from this fertilizer's high nutritional content and are recommended for both corrective and preventive fertilization.

For the treatment of physiological problems brought on by magnesium and sulphur deficiencies, heptahydrate is an efficient substance. In the pharmaceutical sector, it is used to create oils, creams, and lotions that relieve pain.

It is mildly soluble in alcoholic fluids and is found abundant in seawater, and due to its significance in the metabolism of carbohydrates, lipids (fats), and protein, this chemical is supplied to animal feed.

How is Pharmaceutical Industry Triggering the Magnesium Sulphate Requirement?

Magnesium sulphate is used to treat pre-eclampsia and eclampsia by acting as an anticonvulsant, a cathartic, and an electrolyte replenisher. Magnesium sulphate is used as medicine in order to treat and prevent low levels of magnesium in the blood and seizures in women suffering from eclampsia.

Additionally, it is used to treat severe constipation, barium toxicity, and asthmatic exacerbations. In the management of various dysrhythmias, particularly torsade de pointes and dysrhythmias brought on by TCA toxicity or digitalis toxicity, magnesium sulphate is becoming more and more common as an initial treatment.

The growing pharmaceutical industry and the use of MgSO4 for the treatment of various diseases will propel the growth trajectory of the market.

Competitive Landscape

Prominent magnesium sulphate manufacturers are Giles Chemical, Jiangsu Kolod Food Ingredients Co., Ltd, K+S Group, Laizhou City Laiyu Chemical Co. Ltd, Laizhou Guangcheng Chemical Co., Ltd, Mani Agro Chem Pvt. Ltd., Mag Products India Private Limited (MPIPL), PQ Corporation, Rech Chemical Co., Ltd, UMAI CHEMICAL Co. Ltd., WeifangHuakang Magnesium Sulphate Co., Ltd., and ZIBO JINXING CHEMICAL CO., LTD.

The companies have been significantly developing grades against the backdrop of growing applications. Hefty investments are being made in the end-use market such as agrichemicals enabling them to reach out to new application avenues. Economies of density are a major trend followed by the firms to enhance their marginal profits and lower the cost factors such as FOB, custom duty, extensive tax structure, and higher incompatible price points with regional players.

• In Nov 2021, FDA approved Milla Pharmaceutical’s generic magnesium sulphate injection.
• In April 2021, K+S closed the sale of its American Salt business to US-based Stone Canyon Industries Holdings to reduce its debt.

Fact.MR has provided detailed information about the price points of key manufacturers of magnesium sulphate positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Magnesium Sulfate Industry Research

• By Product Type:

  • Heptahydrate (Epsomite)
  • Anhydrous (Calcined Kieserite)
  • Monohydrate (Kieserite)

• By Application:

  • Agriculture Additive
  • Food & Feed Additives
  • Pharmaceuticals Additives
  • Chemical Intermediaries
  • Pulp & Paper Additives
  • Others Applications

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA