Synopsis of Magnesium Sulphate Market —
Magnesium Sulphate is a chemical compound which is a mixture of magnesium, oxygen,and sulphur. Magnesium sulphate often faced as sulphate mineral & epsomite which are commonly known as Epsom Salt. Applications of magnesium sulpjhate have spreaded across many industries such as healthcare, agriculture, pharmaceuticals, food additives and other industries as well. In medical, it is used both i.e. internally as well as externally. Global Magnesium Sulphate Market has very wide market in 21st century and it has been valued as $ 10,731.05 million by 2027 with a CAGR of 4.28%.
MRFR analyst has projected that healthcare sector in India is expected to grow around $285 billion by the year 2020 which implies more demand for medicine. Another driver for Magnesium Sulphate Market is revolution in agriculture. As new technologies are coming in field of farming, demand for magnesium sulphate is increasing. As new processes are coming out from R&D department of companies about the use of magnesium sulphate demand for Magnesium Sulphate Market is increasing and will keep increasing. On the contrary, allergic reactions such as skin infection, diarrhoea or upset stomach could hamper the growth of the market.
Global Magnesium Sulphate Market Key Players:
The major key players of this market are: COMPO GmbH & Co. KG, U.S. Chemicals LLC, Baymag, QingHai Salt Lake Industry, SDIC Xinjiang Luobupo Potash, Geermuzige Potash,Qinghai Hanhai Group, Rech Chemical, Yash Chemicals, Hengyang Jumbo Feed Additives, Jinxing Chemical, K+S Group, KOLOD, Mani Agro Chem, HebeiRongkemeiye and others.
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The need for Magnesium Sulphate is gradually rising due to constraining factors such as rising global population, increasing food demand and decreasing arable land, among others. Magnesium Sulphate is a chemical compound which is a mix of magnesium, sulphur & oxygen. Its formula is MgSO4. Magnesium Sulphate frequently faced as sulphate mineral & epsomite are also knows as Epsom Salt. It is a key raw material used in many sectors such as Food industries, Chemical industries, Research and Development, Healthcare & Agriculture, among others. In medical, it is used both i.e. internally & externally. It is also used in main preparation of intravenous magnesium. Use of internal includes- replacements therapy – hypomagnesaemia, exacerbations of asthma, eclampsia & cerebral palsy. External use include in pregnancy. In the agricultural and farming sector, (Magnesium Sulphate helps to correct magnesium deficiency) Magnesium Sulphate is kind of fertilizer used in especially promoting healthier growth of plants such as tomatoes among others. However, allergic reactions such as skin infection, diarrhoea or upset stomach could hamper the growth of the market.
Following are the key drivers which largely helped in boosting the worldwide growth of Global Magnesium Sulphate Market are as: increased pressure on farmers to enhance the food quality , whether a farmer performs an operation in an extensive scale or little scale, they require credit facilities for the buy of costly equipments, ferilizers among others through a well-developed financial market. To obtain maximum profits from their products, it is important for farmers to maintain quality of the products offered which will further create demand for Magnesium Sulphate in the global marke. In-addition, to increase the supply of the food and speed of the agricultural productivity, the demand for magnesium sulphate is increasing so as to get maximum output. Additionally, the population in a number of countries is growing with time which has led to the increase in the overall demand of food and has created demand for magnesium sulphate in the global market.
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As per the International Fertilizer Industry Association: The fertilizers demand is rising steadily in 2015 and 2016. Global fertilizer demand is estimated to reach 200 million tones by 2020 Global fertilizer demand to grow by 1.5% to 2% per annum in the next five years.
Key Points from Table of Contents:
10 Company Profile
10.1 K+S Kali Gmbh
10.2 Baymag – Company Profile
10.3 U.S. Chemicals– Company Profile
10.4 Qinghai Salt Lake Industry Co Ltd– Company Profile
10.5 Sdic Xinjiang Luobupo Potash–Company Profile
10.6 Qinghai Hanhai Group Co., Ltd.– Company Profile
10.7 Rech Chemical Co. Ltd– Company Profile
10.8 Yash Chemicals – Company Profile
10.9 Zibo Jinxing Chemical Co Ltd– Company Profile
10.10 Compo Expert Gmbh & Co. Kg – Company Profile
10.11 Mani Agro Chem– Company Profile
10.12 Dalian Star Grace Mining Co., Ltd– Company Profile
10.13 Laizhou City Laiyu Chemical Co.,Ltd– Company Profile
10.14 Changsha Green Mountain Chemical Co., Ltd
10.15 Yingkou Magnesite Chemical Ind Group Co. Ltd
10.16 Pq Corporation
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