Rise in Demand from Agriculture Industry Expected to Drive World Manganese Sulphate Market over the Forecast Period: Ken Research
Magnesium sulfate or MgSO4 is a chemical compound which contains sulfur, magnesium, and oxygen. It occurs naturally in seawater, mineral springs as well as in minerals for instance kieserite and epsomite. It is commercially available in numerous types, including monohydrate, heptahydrate, anhydrous, or dried. It works by replacing magnesium in the body and growing water in the intestines. It is used orally as a laxative to relieve infrequent constipation, and to treat low levels of magnesium, also known as Epsom salt.
Magnesium sulfate is a vital nutrient for plant growth thus it improves food quality. Magnesium (Mg) plays an essential role in chlorophyll formation & photosynthesis. It influences many metallic processes & reactions for instance photophosphorylation, protein synthesis, photosynthetic carbon dioxide (CO2) fixation, generation of reactive oxygen species, partitioning & utilization of photo-assimilates, and photooxidation in leaf tissues. These processes & reactions are important in the growth stage of the plants and to gain high yields. With the rising food demand globally owing to increase in population, the need for increasing the yield is expected to drive the demand for magnesium sulfate in the production of fertilizers.
The key benefits are included relieves pain & muscle cramps, eases stress & relaxes the body, helps prevent hardening of arteries & blood clots, helps muscles & nerves function properly, relieves constipation and makes insulin more effective. Apart from benefits, some of the side effects are included facial flushing, feeling of warmth, hypotension, confusion, sweating, intense thirst and diminished reflexes.
According to study, “World Manganese Sulphate Market Research Report 2024(covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world manganese sulphate market are ERACHEM Comilog, JostChemical, OlmixGroup, Mesa Minerals, Parshva Chemicals, AGN Group, TMC, Compania de Minas Buenaventura, BalajiIndustries, CITIC Dameng Mining Industries, Carus Group, Qingyunshang Mn Industry, Lantian Chemical, Guangxi Yuanchen Manganese Industry, Hunan Huitong Science & Technology, HaolinChemical, RechChemical, Changsha Jinzhou Chemicals, Guangxi Detian Chemical Cycle, Hunan Yueyang Sanxiang Chemical, DaHua Chemical.
Based on type, manganese sulphate market is segmented into heptahydrate (Epsom salt), monohydrate and anhydrous. Based on product type, market is segmented into feed grade and industrial grade. Based on form, market is segmented into powder, crystal and granules. Based on application, market is segmented into remove splinters, soothe sprains & bruises, dislodge blackheads, remove hairspray & foot odor, exfoliating face cleanser, exfoliate dead skin, and soothe sprains & bruises, hair volumizer, as a hand wash and insecticide spray. In addition, based on end-use, market is segmented into fertilizer, food additive, medical, chemical, industrial and others.
The manganese sulphate market is driven by rise in use of magnesium sulfate in medical applications for the treatment of pre-eclampsia, followed by high demand from agricultural industry. However, adverse effects associated with the use of magnesium sulfate-based drugs may impact the market. Moreover, growth in popularity of magnesium sulfate in the personal care industry is a key opportunity for market.
Based on geography, China country holds major share, followed by EU in manganese sulphate market owing to rise in healthcare spending on the part of the government and growth in demand for magnesium sulfate for producing fertilizers in the major economies of country. The USA country is expected to witness higher growth rate due to increase in adoption from personal care & cosmetics industry for the formulation of various personal care essentials such as hair products, sun-tan products, skin care products, and skin fresheners is anticipated to boost the growth of the market over the forecast period. The market is projected to register a healthy CAGR of 5.50% to reach US $1,334.6 million by the end of 2024.
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Ankur Gupta, Head Marketing & Communications