The Magnesium sulfate market is estimated to register a CAGR of 3.79% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Magnesium sulfate market—
K+S Aktiengesellschaft, Pq Corporation, China Nafine Group International Co., Ltd, Morton Salt, Inc., Giles Chemical (Premier Magnesia), Acuro Organics Limited, Laizhou Guangcheng Chemical Co. Ltd, Umai Chemical Co., Ltd, Vinipul Inorganics Pvt. Ltd., Lhchem, among others.
Magnesium Sulfate Market Highlights
The global Magnesium sulfate market accounted for registering a CAGR of 3.79% during the forecast period and is estimated to reach USD 1136.74 million by 2032.
Pre-eclampsia and eclampsia are the major causes of maternal and perinatal morbidity and mortality in developing countries. Particularly, pre-eclampsia is a complication that arises in women during pregnancy. Women in developing countries have, on average, more pregnancies than women in developed countries, and the lifetime risk of death due to pregnancy is high in these economies. With the increasing number of fatalities, the need to treat pre-eclampsia and eclampsia is growing.
According to the World Health Organization, pre-eclampsia and eclampsia are responsible for over 15% of the world's maternal deaths, over 50,000 deaths per year. There are around 361,000 to 1 million cases of severe pre-eclampsia and eclampsia in sub-Saharan Africa (SSA) per year, between 116,000 and 326,000 cases in Southeast Asia per year, and between 409,000 and 1.2 million cases per year in South Asia. In the same line, eclampsia is the third major cause of maternal mortality in Pakistan.
Magnesium sulfate is an anticonvulsant drug recommended by the WHO as the most effective, safe, and low-cost treatment available for severe pre-eclampsia and eclampsia. Magnesium sulfate causes dilatation of the cerebral blood vessels and thus reduces the chances of cerebral ischemia. Also, it blocks the calcium receptors by inhibiting N-methyl-D-aspartate receptors in the brain and reduces hypertension during pre-eclampsia. When dosed with magnesium sulfate, the magnesium results in peripheral (predominantly arteriolar) vasodilation that helps in reducing blood pressure. Magnesium sulfate helps inhibit muscle contractions by altering calcium metabolism, which lowers the risk of eclampsia. It also protects the blood-brain barrier and limit cerebral edema formation or act through a central anticonvulsant action. Thus, with the increasing number of fatalities, the need for treatment of pre-eclampsia and eclampsia is increasing, which is expected to fuel the demand for magnesium sulfate in medical applications and drive the global market growth during the review period.
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Segment Analysis
The global Magnesium sulfate market has been segmented based on Form, Type, End-Use Industry and Region.
The crystal segment accounted for the largest market share of 62.8% in 2022, with a market value of USD 497.82 million; it is expected to register the highest CAGR of 3.96% during the forecast period. The dominance of the crystal segment in the magnesium sulfate market is attributed to its widespread use in various industries, including agriculture and pharmaceuticals, owing to its high purity and versatile applications. The projected highest CAGR reflects the increasing demand for crystal-grade magnesium sulfate driven by its diverse industrial applications and consistent quality.
Heptahydrate manganese sulfate, denoted as MnSO₄ · 7H₂O, is a crystalline compound widely used in both the agricultural and livestock sectors. In agriculture, it serves as a micronutrient fertilizer, strategically correcting manganese deficiencies in soil. The heptahydrate (Epsom salt) segment accounted for the largest market share of 66% in 2022, with a market value of USD 519.47 million; it is expected to register the highest CAGR of 5.24% during the forecast period. It is expected to generated market value of USD 761.99 million in 2032. This high share is attributable to its extensive application in agriculture for soil improvement and in the healthcare sector for therapeutic and medicinal purposes, driving consistent demand.
The fertilizer segment accounted for the largest market share of 29% in 2022, with a market value of USD 230.98 million; it is expected to register the highest CAGR of 5.70% during the forecast period. It is estimated to be valued at USD 353.59 million in 2032. This high share is attributable to the increasing demand for magnesium sulfate in agriculture, driven by a growing focus on sustainable farming practices, improved crop yields, and increasing awareness of the compound's effectiveness in enhancing soil fertility. Manganese sulfate is a pivotal micronutrient in fertilizers, revolutionizing plant growth and development. Its fundamental role in photosynthesis, nitrogen metabolism, and enzyme activation underscores its significance. Whether applied to the soil or administered as a foliar spray, manganese sulfate diligently rectifies manganese deficiencies in plants, fostering superior crop yields and enhanced crop quality. The advantages of incorporating this micronutrient into fertilizers are manifold, encompassing a profound improvement in overall plant health.
Regional Analysis
By Region, the Magnesium sulfate market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia Pacific Magnesium sulfate market holds a considerable market share during the forecast period. The market size in Asia Pacific was valued at USD 312.04 million in 2022. The region accounted for the largest share of the MgSO4 market in 2022 and is projected to remain the major region during the forecast period. The market's growth in Asia Pacific is attributed to China, India, and Japan due to their extensive industrialization and urbanization activities. China is the manufacturing hub for various end-use industries such as dyes, textiles, paints, and others. The country's robust manufacturing activities support the regional magnesium sulfate market growth.
Government policies and regulations in the region further influence market dynamics. Supportive policies promoting the use of manganese sulfate in agriculture and industry contribute to its widespread adoption. Additionally, Japan's emphasis on research and technological advancements fosters innovation, potentially leading to new applications for manganese sulfate and sustaining its demand. Asia-Pacific countries, engaging extensively in global trade, benefit from favourable trade relationships, bolstering their position in manganese sulfate production. Increasing environmental awareness may drive demand for sustainable solutions. Collectively, these factors underscore the region's pivotal role in shaping the global manganese sulfate market.
Key Findings of the Study
- The global Magnesium sulfate market is expected to reach USD 1136.74 million by 2032, at a CAGR of 3.79% during the forecast period.
- The Asia Pacific region accounted for the fastest-growing global market.
- K+S Aktiengesellschaft, Pq Corporation, China Nafine Group International Co., Ltd, Morton Salt, Inc., Giles Chemical (Premier Magnesia), Acuro Organics Limited, Laizhou Guangcheng Chemical Co. Ltd, Umai Chemical Co., Ltd, Vinipul Inorganics Pvt. Ltd., Lhchem, among others
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Companies Covered | 15 |
Pages | 256 |
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