Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Magnesium Sulphate Market Research Report.
The global magnesium sulphate market is slated to be valued at USD 10,731.05 Mn during forecast period (2018-2027) with a moderate CAGR of 4.28%, according to a detailed report by Market Research Future (MRFR). Magnesium sulphate is highly popular in various applications such as healthcare, agriculture, pharmaceuticals, food additives and other industries as well. The report also prophesizes that healthcare sector in India is projected to grow to approximately USD 285 Bn by 2020, suggesting an increase in demand for medicine. Another driver for magnesium sulphate market is revolution in agriculture. Advent of new technologies in field of farming gives way to more demand for magnesium sulphate. Research and development conducted by competitive companies in the market can pave the way for demand for magnesium sulphate, thus boosting market growth.
Growing population and high demand for high-quality food, has resulted in increased pressure on farmers to enhance the quality of their agricultural products. Growing demand for food, coupled with increased application of magnesium sulfate for medicinal purposes are major drivers for the magnesium sulfate market. Apart from this, even cosmetics market demands high-quality magnesium sulphate for use in various beauty products, for instance, in bath products, skin fresheners and cleansers, shampoos, hair products, suntan products, makeup and skin care products.
However, allergic reactions such as skin infection, diarrhea or upset stomach have the potential of hampering the growth of the market. On the other hand, magnesium sulphate is widely used in drugs for the treatment of seizers associated with eclampsia. Additionally, increasing awareness regarding the benefits associated with magnesium sulphate and continuous growth of pharmaceutical and healthcare sector across the globe can create growth opportunities for the market.
The magnesium sulphate market is segmented on the basis of type, product type, grade, application, and distribution channel.
By type, the market is segmented into heptahydrate (epsom salt), anhydrous (calcined kieserite), and monohydrate (kieserite). Monohydrate kieserite is used in cropping, horticulture, market gardening, and maize production. On the other hand, heptahydrate (epsom salt) is an eco-friendly and cost-effective element used as natural exfoliator and anti-inflammation remedy that can be used to treat dry skin, sore muscles, and small wounds, and even to fight maladies.
Based on product type, the market is segmented into powder, solid crystal, and liquid. The powder form of magnesium sulphate is used as laxative, consumed orally. It is considered as a cost-effective measure to mitigate the risk of acute and chronic health problems. Its demand is also mitigated by patients suffering from constipation, and other health issues.
The market is segmented on the basis of grade into kieserite (magnesium sulphate monohydrate), calcined kieserite (magnesium sulphate anhydrous), and epsom salt (magnesium sulphate heptahydrate). Various applications using magnesium sulphate are agriculture, food additives and pharmaceuticals, chemical and industrial uses (pulp and paper industry), and others. Magnesium sulphate is used as food compounding agent, fermentation accelerator, detergent, coagulation compounding agent as well as an artificial agent in food additives industry. There is also immense demand for magnesium sulphate in the agriculture sector, for growing high-quality plants and prevent infestation of pests.
The magnesium sulphate market is geographically spread across Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
The Asia-Pacific region accounts for 60% to 65% share of the worldwide population and expected to increase in coming years, leading to issues of food sufficiency in the years ahead. This would result in dire need of food production. Thus, magnesium sulphate is a highly popular choice in agriculture sector, which assists farmers in growing crops in abundance. The magnesium sulfate demand is high in Asia-Pacific countries due to land fragmentation, farmers are left with little land property. Therefore the need arises to get maximum yield from the small land in hand, leading to need for magnesium sulfate utilization in farms. Continuous growth of numerous end-use industries in China can also bode well for the market. Moreover, healthcare & agriculture sectors in the Asia Pacific region are witnessing high growth, thus magnesium sulphate market in this region is attracting investments from large companies.
The North American and European regions hold the second and third position in terms of value and volume. Due to improved lifestyle coupled with growing consumption of personal care products in North America, the market is leaping upward and gaining foothold in this region. On the other hand, increasing per capita disposable income, inexpensive labor & land cost, and minimal regulatory norms in Europe is paving the way for the market to create a strong base in this region.
Synthio Chemicals LLC, Baymag, QingHai Salt Lake Industry Co. Ltd., Hengyang Jumbo Feed Additives, Jinxing Chemical, and Qinghai Hanhai Group are some of the key vendors competing in the magnesium sulphate market.
Prime strategical activities in the market include product developments, mergers and acquisitions, and partnerships. These strategies are adopted by various existing and emerging companies in the market to fuel their business growth and strengthening their positions, establishing themselves further globally.
For instance, PROcure Epsom Salt Rub by PROFOOT Inc.; is formulated with aloe vera, magnesium sulphate, and essential oils. It helps soothe muscle tension, tightness, aches, pains, and soreness. This win will significantly stimulate volume sales, increase customer tryouts, as well as enhance sales strategy for the company in the magnesium sulphate market globally.