Between 2023 and 2033, the Germany magnesium sulfate market will grow at a CAGR of 3.5%. Germany is anticipated to hold a reasonable amount of the worldwide market, according to FMI. Germany is anticipated to dominate the European market over the forecast period with a sizable value share in terms of consumption.
Magnesium sulfate is likely to be very popular in Germany. Due to the large manufacturing capacity and imports from Asian nations, the country’s demand has been satisfied. Due to China’s low-cost exports, manufacturers in Europe and North America are up against fierce competition.
To remain competitive, producers from these areas must create high-purity magnesium sulfate and strengthen their brand reputation. By 2033, Germany is projected to be at US$ 208.8 million.
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Magnesium sulfate, also known as Epsom salt, is a chemical compound composed of magnesium, sulfur, and oxygen. It is widely used in various industries and applications due to its diverse properties and benefits. The magnesium sulfate market has experienced steady growth over the years, driven by factors such as increasing demand from agriculture, pharmaceuticals, and industrial sectors.
- 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.
Key Points
- Germany thrives at a CAGR of 3.5% between 2023 and 2033. The regional market is anticipated to reach a revenue of US$ 208.8 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.
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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.
Key Players
- 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.
Recent Market Developments
- Giles Chemical has introduced its Epsom salt for varied uses such as agriculture, United States Pharmacopeia (USP) grade, and technical grade. The company claims to apply quality, innovation, and focus to make these grades application-specific.
- Mag Products India Private Limited has launched its Mag Shakti Magnesium Supphate for agricultural usage.
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Key Segmentation
By Product Type,
- Heptahydrate
- Monohydrate
- Anhydrous
By Grade,
- Industrial Grade
- Food Grade
- Agriculture Grade
- Pharma Grade
By End User,
- Chemicals
- Pharmaceuticals & Personal Care
- Pulp & Paper
- Agriculture
- Food & Feed Additives
- Others
By Form,
- 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.
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