The magnesium sulfate market is anticipated to expand its roots at an average CAGR of 5.7% between 2023 and 2033. The market is anticipated to cross a market share of US$ 1.68 billion by 2033 while it is likely to be valued at US$ 1.0 billion in 2023.
- The applications of magnesium sulfate in the food and beverage sector along with the increased focus on reduced plastic consumption are expected to gain momentum in the market.
- Expanding pharmaceutical operations, and research-based activities are likely to contribute a positive share of the magnesium sulfate market. Furthermore, the higher agricultural applications to increase the sulfate and magnesium content in soil have pushed the demand for agriculture-grade magnesium chloride.
- The application of heptahydrate magnesium sulfate as a cathartic agent. Alongside this, its increased usage as a brewing salt in beer-making procedures has increased the demand for magnesium sulfate.
- Its medicinal benefits for pregnant women as it controls seizures along with its benefits against constipation increase the sales of pharma-grade magnesium sulfate.
- One of the most important uses of magnesium sulfate is the formation of intravenous magnesium which is further used as a medication for eclampsia.
Get Access to Your Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-12415
Key Points
- The United States thrives at a CAGR of 3.5% between 2023 and 2033. The regional market is anticipated to reach a revenue of US$ 100.5 million by 2033. The growth is attributed to the expanding food and beverages sector. The market is likely to hold a value of US$ 33.3 million.
- China on the other hand holds the utmost opportunity as it thrives at a leading CAGR of 4.1% between 2023 and 2033. The growth is attributed to the higher medicinal usage against different diseases. The region is expected to witness a market revenue of US$ 470.8 million by 2033.
- By product type, the Heptahtdrate segment thrives at a leading CAGR of 5.8% between 2023 and 2033. The growth is attributed to its role as a laxative and cathartic agent in different chemical operations.
- By grade, the agriculture segment stays on top as it thrives on a CAGR of 5.9% during the forecast period. The growth is attributed to degrading soil quality, higher crop demand, and increased pollution.
Competitive Landscape
The competitors are focusing on producing application-specific products while saturating them according to the grade. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are K+S Aktiengesellschaft, Giles Chemical, Laizhou City Laiyu Chemical Co. Ltd, Laizhou Guangcheng Chemical Co., Ltd, Mani Agro Chem Pvt. Ltd., PQ Corporation, ZIBO JINXING CHEMICAL CO., LTD., Mag Products India Private Limited, Weifang Huakang Magnesium Sulphate Co., Ltd., Rech Chemical Co., Ltd.
Top Key Players in the Global Market
- K+S Aktiengesellschaft
- Giles Chemical
- Laizhou City Laiyu Chemical Co. Ltd
- Laizhou Guangcheng Chemical Co., Ltd
- Mani Agro Chem Pvt. Ltd.
- PQ Corporation
- ZIBO JINXING CHEMICAL CO., LTD.
- Mag Products India Private Limited
- Weifang Huakang Magnesium Sulfate Co., Ltd.
- Rech Chemical Co., Ltd.
Ready to Explore? Request the Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-12415
Key Segmentation
By Product Type, the Market of Magnesium Sulfate is segmented as:
- Heptahydrate
- Monohydrate
- Anhydrous
By Grade, the Market of Magnesium Sulfate is segmented as:
- Industrial Grade
- Food Grade
- Agriculture Grade
- Pharma Grade
By End User, the Market of Magnesium Sulfate is segmented as:
- Chemicals
- Pharmaceuticals & Personal Care
- Pulp & Paper
- Agriculture
- Food & Feed Additives
- Others
By Form, the Market of Magnesium Sulfate is segmented as:
- Solid
- Liquid
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube