According to Fact.MR, a market research and competitive intelligence provider, the global magnesium sulphate market is estimated at US$ 783.6 million in 2022 and is expected to expand at a CAGR of 5.3% during the forecast years of 2022-2032. The market is poised to grow due to its remarkable use in the agricultural and pharmaceutical industries. Magnesium sulphate finds its usage in agriculture, pharmaceuticals, and chemicals as a key additive. Effective sugar synthesis, starch translocation, fat synthesis, and improved iron utilization are all carried out by magnesium. Additionally, it aids with nitrogen fixation and nutrient absorption regulation.
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Owing to the increasing global demand for effective medicines, drug makers are producing pharmaceuticals that are effective for rare diseases. Magnesium sulphate has been developed as a drug for various clinical uses. The ever-growing pharmaceutical industry and the increasing geriatric population in the world are likely to provide an impetus to the growth of the global magnesium sulphate market during the forecast period.
To stimulate global agricultural production, greater emphasis is being placed on adopting more efficient agriculture techniques such as fertilizers. Food shortage remains a major global issue; one of the primary reasons behind it is the use of conventional methods which in turn results in reduced yield. Thus, the demand for agriculture-grade magnesium sulphate as fertilizer increased the demand for magnesium sulphate globally.
Key Takeaways from Market Study
- The global magnesium sulphate market is projected to expand at a CAGR of 3% and be valued at US$ 1,351.2 million by 2032
- Under type, Heptahydrate (Epsomite) dominates the market and is valued at US$ 506.6 million in 2022
- East Asia is estimated to dominate the market with a 9% market share in 2022
- Agriculture application is estimated to showcase a major market share of 1% in 2022
“The utilization of MgSO4 as an additive in various industries and growing demand of food and medicines due to population growth will propel the market,” says a Fact.MR analyst.
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Segmentation of Magnesium Sulfate Industry Research
By Product Type:
- Heptahydrate (Epsomite)
- Anhydrous (Calcined Kieserite)
- Monohydrate (Kieserite)
- Agriculture Additive
- Food & Feed Additives
- Pharmaceuticals Additives
- Chemical Intermediaries
- Pulp & Paper Additives
- Others Applications
- North America
- Latin America
- East Asia
- South Asia & Oceania
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.
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