Food & Pharmaceutical Grade Magnesium Sulphate Remains Lucrative: FMI Study
The magnesium sulphate market is projected to expand robustly, registering a CAGR of 5.3% in volume terms and 5.7% in value terms respectively. Alternatively known as Epsom Salt, magnesium sulphate has registered widespread applications across the pharmaceutical, agricultural and food processing sectors.
Magnesium Sulphate Market
A recent market study published by FMI on the magnesium sulphate market includes the globa...
As the global population expands, the scope of the food and pharmaceutical industries have significantly widened. Over the years, magnesium sulphate has been widely used to treat and prevent low blood magnesium and seizures in women with eclampsia. It is also used to manufacture nutraceuticals and fertilizers.
Majority of the market demand is likely to be generated from emerging economies such as India, Brazil and China. This is primarily because of the concentration of the world’s maximum population and the subsequent development of the agricultural and healthcare industries. Therefore, the market will enjoy a positive growth curve.
Magnesium Sulphate Market- Key Takeaways
- Heptahydrate magnesium sulphate is likely to acquire major traction, attributed to extensive applications across multiple domains
- Agriculture grade magnesium sulphate to gain 130 BPS due to extensive usage in fertilizer manufacturing
- Solid magnesium chloride crystals to dominate, capturing over 4/5th of the global market share
- East & South Asia are likely to emerge as the most lucrative hubs, registering value CAGRs of 7.2% and 6.1% respectively
“Prominent vendors are committed to improving partnerships and long-term contracts with raw material providers to avail them at cheap prices, helping them to stay afloat in a competitive environment,” remarks the FMI analyst.
COVID-19 Impact Analysis
The current pandemic crisis has ushered in a major era of uncertainty. The alarming rate of expansion in the number of infections renders it extremely unlikely for the industrial and service sectors to resume operations on a full-fledged basis. This is expected to generate major downturns in the magnesium sulphate market.
Several end-use industries such as cement, paper & pulp, construction and food processing have taken a severe hit in terms of production and supply. Industrial output has drastically reduced, diminishing demand for magnesium sulphate for several production applications.
Further shortages have occurred due to cessation of magnesium mining operations. This is particularly true for the American and Chinese markets, the latter being the epicenter of the outbreak. A slow recovery path is projected for the market in the long-term.
Prominent players in the magnesium sulphate market are emphasizing on establishing regional sales offices across emerging countries. This is in addition to their dependence on distributors, as this assists them in promoting and marketing their products more effectively.
Simultaneously, players such as PQ Corporation and K+S Aktiengesellschaft are concentrating on mature markets such as U.S and Europe in order to expand production capacities and compete with emerging markets such as China.
Investments in expanding productive capacity will prove beneficial for expansion of operations. For instance, K+S commissioned a new facility at Werra amounting to € 34 million to increase its magnesium sulphate production capacity twofold.
Other prominent players include Giles Chemical, Rech Chemical Co., Mag Products India Private Limited, Mani Agro Chemical Pvt. Ltd., PERSIA PAYA MADAN, ZIBO JINXING CHEMICAL CO LTD., and Laizhou Guangcheng Chemical Co. among others.
More Insights on the Magnesium Sulphate Market
A recent market study published by FMI on the magnesium sulphate market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report includes a detailed analysis of the market based on the following segments: type (heptahydrate, monohydrate & anhydrous), grade (industrial, agricultural, food & pharmaceutical), end-use (chemicals, pharmaceuticals & personal care, pulp & paper, agriculture, food & feed additives and others), form (solid and liquid) and region (North America, Latin America, Europe, East Asia, South Asia & Pacific and Middle East & Africa).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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