Magnesium Sulphate Market Size, Global Status, Growth Trends, Industry Opportunities, Top Companies Players, Future Plans, Share Insight and Regional Forecast to 2027
Industry/ Innovation/Related News
January 11, 2018 – Crystal Peak Minerals Inc. (Canada) one of the leading player in production of specialty fertilizers and associated minerals, including magnesium compounds etc. announced the results of a Feasibility Study (FS) for the production of Sulfate of Potash (SOP) from its Sevier Playa Sulfate of Potash Project. Following the FS, the company plans to produce a suite of useful and necessary products from the brines found at the Sevier Playa. Using an environmentally friendly, solar evaporation process the company will produce a fertilizer expected to be certified as organic. Other products may include sodium chloride, sulfate of potash magnesia (a specialty fertilizer); and most importantly magnesium sulfate (used in agriculture and as bath salts) etc. Additional research may lead to the development of other beneficial chemicals and nutrients from the brines at the Sevier Playa project.
Worldwide Magnesium Sulphate Market – Regional Analysis
APAC region accounts for over 60% to 65% of the world’s population which is expected to rise in the years to come making the region to confront food insufficiency issues. This would directly result in augmenting demand for food production. Use of Magnesium Sulphate in agriculture sector has proven to be an effective way to increase food productivity. These factors would drive the ever increasing demand for Magnesium Sulphate in the Asia Pacific. North America and Europe region is the second and third market for Magnesium Sulphate in terms of demand.
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Worldwide Competitive Outlook
The Market of Magnesium Sulphate appears to be highly competitive and fragmented. With increasing industrialization and upgradation, manufacturers are setting up facilities to meet the demand for Magnesium Sulphate in the most efficient manner. High investments transpired in to R&D are anticipated to impact the market positively. Key Players strive to inculcate latest technical innovations in their procedure to reduce the harmful factors.
Magnesium Sulphate Global Market – Overview
Magnesium Sulphate or Magnesium Sulfate comes in various forms. Depending on the purposes, these forms are used across industries such as healthcare, R&D, Chemical, Food sector, Agriculture etc. Magnesium sulphate is often considered as sulphate mineral & epsomite, commonly known as Epsom Salt. Magnesium Sulphate has proven to be far more effective for optimum yields. Ever augmenting population worldwide is fueling the demand for increasing food production resulting in to extensive uses of Magnesium Sulphate for farming further increasing its market demand further pushing the market growth of Magnesium Sulphate.
Acknowledging the kind of traction gained by this market, Market Research Future recently published a study report. According to the report, Magnesium Sulphate market is expected to worth USD 10,731.05 Million by 2027, at 4.48 % of a CAGR during the anticipated period (2017 – 2027).
Magnesium Sulfate in the form of Epsom salt, is consumed as a laxative to relieve occasional constipation, to increase water in the intestines and to treat low levels of magnesium (hypomagnesemia). The burgeoning Healthcare sector worldwide is expected to grow pervasively in the years to come which implies more demand for medicine presaging furthering demand and growth of the Magnesium Sulphate globally. Other factors propelling the market growth include agricultural evolution & technological advancement coupled with the industries that generate the demand for Magnesium Sulfate like Food Additives, Pharmaceuticals, and Pulp & Paper Industry etc.
Conversely, reported allergic reactions cases (skin infection and diarrhea/ loose motions) due to Magnesium Sulfate are estimated to restrict the market growth during the forecasted period.
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